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Urgent Deployment of Existing Technology Can Get World Close to Net Zero, BloombergNEF’s New Energy Outlook 2024 Shows

3BL Media

The solutions needed to abate the remaining quarter of emissions are among the most challenging to scale: biofuels in shipping and aviation; hydrogen in industry and transport; and carbon capture and storage in industry and power. This is far from achieving net zero – and breaches the Paris Agreement with a global warming result of 2.6

Net Zero 173
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Here’s How Amazon’s Sustainability Pledge Is Going, 5 Years After Jeff Bezos Promised To ‘Beat The Paris Agreement’

We Mean Business Coalition

But when Figueres, the renowned Costa Rican diplomat and one of the key orchestrators of the Paris Agreement herself, came on board, via her own organization Global Optimism (“a group of stubborn climate optimists”) — we all sat up to listen. Beating the Paris Agreement’ is a huge statement to make.

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At long last, Canada restricts oil and gas subsidies (except for all the loopholes)

Corporate Knights

Those guidelines are due to be released in 2024. Now, it’s being taken up by a multilateral panel that is expected to report in 2024 if all goes well. The document also holds out the possibility of subsidies for carbon trading deals under Article 6 of the Paris agreement, and for Indigenous participation in fossil fuel projects.

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JPMorgan Leaves Net Zero Banking Group, Completing Departure of Major U.S. Banks

ESG Today

After rapidly expanding from 43 banks at launch to over 140 banks representing $74 trillion in 2024, members of the group have come under significant pressure, particularly from Republican politicians in the U.S., The targets remain in place on the companys website.

Net Zero 117
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Standard Chartered to Engage with all Priority Clients in High-Emitting Sectors Over Next 12 Months

ESG Today

The bank also revealed that it reached nearly $1 billion in annual sustainable finance income in 2024. While some banks have retreated from their targets, however, Standard Chartered announced last month that it has completed setting interim 2030 financed emissions reduction goals for all 12 of its high-emitting sectors.

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First-Ever Cross Border CO2 Transport and Storage Deal Signed Between Northern Lights JV, Yara

ESG Today

Longship was unveiled in September 2020, with the government describing carbon capture and storage as a prerequisite for reducing global greenhouse gas emissions in line with the Paris Agreement climate targets. From early 2025 we will be shipping the first tonnes of CO2 from the Netherlands to Norway.

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Is the IMO Turning the Tide on Transition?

Chris Hall

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?