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Green groups urge UN to raise climate ambition on global shipping. The global shipping industry's decarbonization efforts once again face stormy seas. Faïg Abbasov, head of shipping at campaign group Transport & Environment, told BusinessGreen the proposal was "essentially an empty shell." "To Cecilia Keating. To achieve 1.5
By our count in 2022 – seven years after the ParisAgreement – the vast majority of oil companies still earn less than 1% of their revenue from renewable sources. A closer look at their capital investments, however, indicates that in 2022 a few key players were earnestly investing in turning that ship around.
But when Figueres, the renowned Costa Rican diplomat and one of the key orchestrators of the ParisAgreement herself, came on board, via her own organization Global Optimism (“a group of stubborn climate optimists”) — we all sat up to listen. Beating the ParisAgreement’ is a huge statement to make.
The updated targets were unveiled with the release of the firm’s 2023 Climate Report, which also included net zero 2050-aligned targets for 2 new sectors, a new Scope 3 “Energy Mix” target, and first-time disclosures on the firm’s financed emissions for sectors where targets have been set. million CO2e.
SWORDS, Ireland, November 30, 2023 /3BL/ - Trane Technologies (NYSE:TT), a global climate innovator, will underscore the critical need for adoption of new and existing solutions at scale, accelerated climate policy and transparent emissions reporting during COP28 in Dubai, November 30 – December 12.
or less in line with the ParisAgreement, it is essential to decarbonize our economy by 2050. Factors that could cause such differences can be found in our Form 10-K for the year ended December 31, 2023, as well as our subsequent reports on Form 10-Q and other SEC filings. As such, it is also set against a 2019 baseline.
The announcement is meant to deliver on the 2023 subsidy phaseout deadline contained in Prime Minister Justin Trudeau’s December, 2021 mandate letters to Guilbeault and Finance Minister Chrystia Freeland.
With global trade highly dependent on shipping, achieving net zero may put wind in the sails of other industries’ climate ambitions. International shipping accounted for 2% of global energy-related CO2 emissions last year, according to the International Energy Agency (IEA). What progress has the IMO made?
The group filed a shareholder resolution last year asking the bank to clarify its fossil fuel financing strategy, and provide disclosures outlining its plans to reduce its exposure, along with disclosures on the company’s strategy to align with the ParisAgreement goal to limit global temperature increase to 1.5°C.
The Corporate Climate Stocktake (CCST), led by the We Mean Business Coalition and supported by the Climate Champions Team and Bain & Company, looks in detail at eight sectors that account for two-thirds of the world’s greenhouse gas emissions: power, road transport, concrete and cement, steel, shipping, hydrogen, aviation and agriculture.
There is little evidence of US asset managers jumping ship – at 59 signatories, they represent the second largest contingent behind the UK. Regional Fora – from August to October to guide the development of comprehensive five-year plans due next year, which must bring the world back in line with the ParisAgreement.
The world is not currently on track to achieve the goals set out in the ParisAgreement. Targeted action by sector and region This year’s COP28 in Dubai sees the culmination of the first-ever UNFCCC Global Stocktake, which assesses progress made since the ParisAgreement. This political momentum is welcome.
times higher than the UK's own greenhouse gas emissions (excluding aviation and shipping). Financial organisations thus have a major role to play in the decarbonisation of the global economy, yet it is estimated that since the ParisAgreement in 2015, the 60 largest banks have instead invested $5.5 trillion USD in fossil fuels.
As of April 2023, more than 4,500 companies have set or committed to developing science-based targets 8 , 290 of which are from the food and beverage processing sector and only 87 are from the containers and packaging sector 9. kTCO 2 e reduction for the full year 2023. We expect a further 10.3 Nature Food 2.3.
Although prevailing wisdom holds that time is running out, BloombergNEF’s New Energy Outlook 2024 seemingly shows how the world could still achieve the major goal of the ParisAgreement – holding global warming to well below 2°C and avoiding the worst impacts of climate change – and what it would take to get there.
Ahead of the conference, the data had been collected and analysed, with assessments delivered on the effectiveness of actions taken to date, primarily in the form of signatories’ nationally determined contributions (NDCs) to the ParisAgreement. The official verdict was clear. C of climate change by 2100. trillion in 2022.
On Saturday 4 March 2023, at United Nations headquarters in New York, the world came together to agree a treaty to protect biodiversity in international waters and on the seafloor outside of national boundaries. They are also cost-effective investments that will help meet the ParisAgreement and Global Biodiversity Framework targets.
The resulting report—available in both English and Spanish—provides a set of recommendations for Paraguay to reduce its greenhouse gas emissions and meet its commitments made under the ParisAgreement.
A brief statement committed the world’s leading democratic economies to forming a ‘climate club’, to “support the effective implementation of the ParisAgreement by accelerating climate action and increasing ambition”. Membership is open to all countries committed to the full implementation of the ParisAgreement. “We
The deal will see ten wind turbines built and in be operation by the end of 2023. Last year, US$22 trillion worth of goods crossed borders, but we have all witnessed what happens when shipping doesn’t run smoothly, creating inventory shortages and increasing prices that challenge businesses and consumers globally.
According to analysts Circle Economy, adding circular economy solutions to countries’ Nationally Determined Contributions (NDCs) to the ParisAgreement will enable global temperature rises to be kept “well below” 2?C. “It is a resilient system that is good for business, people and the environment,” says the Foundation.
Historically, some 40% of the raw materials entering the site do so by freight ships. In the summer of 2018, these were scraping bottom; cargo traffic was reduced to a trickle, and ships could be only partially laden. It has publicly endorsed the ParisAgreement on climate change as well as the EU’s target of being net-zero by 2050.
Guy Platten, secretary-general of the International Chamber of Shipping has told world media this week that the industry is ready to act. “A global solution is the only one that’s going to work” , “Such a tax would incentivize ship owners to invest in and deploy new technology.”
C and implement the ParisAgreement and will be welcomed by the business community. C temperature goal of the ParisAgreement alive, and to ensure a just transition. . G20 Leaders have recognized the need to transform their energy systems in line with the ParisAgreement, and agreed to help each other to do this.
This week, scientists observed that global warming is turning the world’s oceans green, underlining the urgent need for the shipping industry to set ambitious GHG emission targets. Attempts to impose a levy on GHG emissions from international shipping to fund climate action were delayed after two weeks of talks.
January 2023 by Hank Boerner – Chair and Chief Strategist – G&A Institute Here we are weeks into Year 2023 – and so as we plunge into the new year, we could ask, what is in store for public sector action to address critical climate change challenges? How are we doing?
president closely linked America’s new nationally determined contribution, a reduction target of 50 to 52 percent from a 2005 baseline aligned with the terms of the ParisAgreement, with equitable job creation and the opportunity to make money. is on board with shipping industry reductions (and aviation, too). finance agencies.
The Trump administration has been vocal about reversing the prior Biden administrations initiatives and focus on addressing climate changes, including announcing its departure from the ParisAgreement as one of President Trumps first executive orders upon taking office. In a diplomatic note sent out following the vote, the U.S.
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