FOSSIL FUEL DEALS
COP29: India says climate deal falls short
India voiced strong opposition to the climate finance agreement reached at COP29 in Baku, deeming the proposed increase to $300 billion by 2035 as "too little, too distant" to meet the needs of developing countries. India criticized the adoption process as stage-managed, highlighting the insufficient financial commitment to enable effective climate action.
Here's what to know about the new funding deal that countries agreed to at UN climate talks
After intense negotiations, countries at the UN climate talks agreed on a financial package to aid developing nations in combating climate change. The deal, while falling short of the requested amount, will see wealthy nations contribute at least $300 billion annually by 2035, with hopes for increased contributions in the future.
World reaches $300 bn climate finance deal at COP29
Developing nations have criticized a climate deal that pledges $300 billion annually from wealthy countries as insufficient to address the escalating climate crisis. The agreement, reached after intense negotiations in Azerbaijan, aims to support developing nations in transitioning their economies and adapting to climate change impacts.
At COP29, climate progress takes one step forward, two steps back
Negotiations for increased financial aid from wealthy nations to developing countries faltered, highlighting the challenges of global climate action amidst rising temperatures and political roadblocks.
COP29 draft deal wants rich nations to commit $250 billion a year
The text mentions the $1.3 trillion figure that developing countries had asked for but describes it as a "global goal" - essentially asking everyone, including the private sector, to "work together" instead of putting the onus just on developed nations. This is in line with the Paris Agreement provision which is the basis for the new finance goal.
COP29 climate talks enter final stretch: What happens next?
Marathon climate talks in Azerbaijan entered their final stage, with officials working to finalize agreements on climate finance, fossil fuels, and carbon markets. A key goal is to set a new funding target for developing nations, with debates ongoing about the amount and contributors. The summit, scheduled to end Friday, may extend as negotiators seek consensus on a final agreement.
UN climate process needs urgent overhaul: Experts
A group of prominent figures, including Ban Ki-moon and Christiana Figueres, are urging a major overhaul of the UN climate process. They argue that while 28 COPs have established policy frameworks, the process needs to shift from negotiation to implementation to achieve rapid change and phase out fossil fuels.
Trade deal with Trump 2.0: India needs to pick up from where it left
Former Indian Foreign Secretary expresses optimism about Donald Trump's second term as US President. The article highlights the strengthening of India-US ties during Trump's first term, citing advancements in defense cooperation, trade, and the Quad. The author believes that India is well-positioned to navigate a second Trump presidency and further enhance the bilateral partnership.
'Waiting in vain': Year on from pledge, world clings to fossil fuels
One year after world leaders issued the landmark call for a global move away from fossil fuels, nations are failing to turn that promise into action, say climate diplomats, campaigners and policy experts. Many are promising bold policies that align with agreed warming limits, but are approving new oil and gas fields -- an impossible contradiction, says the UN's expert climate panel.
AI power demand might actually be good for climate
Big energy companies argue that the rising electricity demand from data centers can drive investment in clean energy, despite skepticism. They claim that the increased need offers financial incentives to advance new technologies, while utility executives highlight potential cost reductions and improved grid reliability.
Amazon bets on nuclear power to fuel AI ambitions
s companies including Microsoft, Amazon, and Google rapidly expand their global data center capabilities, they are actively seeking new electricity sources. Amazon has signed three agreements to support the development of Small Modular Reactors (SMRs), which are more compact and potentially easier to deploy than traditional reactors.
The world is a mess. That makes the climate crisis harder to solve.
Global leaders face a fractured world at the U.N. General Assembly, grappling with climate change and geopolitical tensions.
India, UAE sign 5 pacts to push nuclear energy and fossil fuel partnership
India and the UAE signed five significant agreements on nuclear energy, fossil fuel, and food security during Abu Dhabi Crown Prince Sheikh Khaled bin Mohamed bin Zayed Al Nahyan's visit. The deals include cooperation in nuclear power plant operations, long-term LNG supply, and food parks development. Steps towards operationalising the India Middle East Europe Economic Corridor were also initiated.
Donald Trump shrugs off global warming worries, says 'that is not our problem' in latest remarks
US Presidential Election 2024: Former US President Donald Trump has dismissed concerns about climate change, claiming that rising sea levels are not a pressing issue. He emphasized the threat of 'nuclear warming' instead. Trump's stance contrasts sharply with the current administration's climate policies and suggests a potential rollback of environmental regulations if he is re-elected.
¡®It is beyond belief we¡¯re still subsidising the cause of the climate crisis ¡ª we need greater subsidies for renewables over fossil fuels now¡¯
"I think the CBAM, to the extent that it does result in significant revenue from tariffs, should recycle some of those funds in lump sum forms to help countries clean up their production processes and adapt to climate change," says Cameron Hepburn, Battcock Professor of Environmental Economics at the Smith School of Enterprise and the Environment, Oxford University.
Is climate change leading to frequent and high intensity heat waves in North America?
A study by a group of scientists have found that climate change caused by anthropogenic factors has caused an increase in the number of high intensity heat waves in North America. This serves as an early warning for all the stakeholders to tackle the issue of increased emissions.
Believe it or not: Even in Saudi Arabia, renewable power is cheaper than fossil fuels
Saudi Arabia has signed deals to purchase electricity from two large-scale wind farms at record-low prices, cheaper than natural gas plants. The kingdom aims to shift rapidly to a larger share of renewables in the power grid, with the goal of generating half of its power from clean sources by 2030. The projects, developed by Japan's Marubeni Corp, benefit from state backing and favorable wind conditions in the country, making them more cost-effective than fossil fuel alternatives. The country's move towards renewable energy is part of Crown Prince Mohammed Bin Salman's efforts to diversify the economy away from oil dependence.
Analysis: At COP28, Sultan al-Jaber got what the UAE wanted. Others leave it wanting much more
?Al-Jaber, who as president of COP28 facilitated the negotiations, faced criticism and scrutiny from the moment he took the position due to his oil ties. He tried to disarm critics among the delegates through an Emirati tradition, at one point convening a "majlis," or a traditional ruler's sitting room to listen to concerns that he said he wanted not to have been laundered through layers of diplomacy and bureaucracy.
Dubai deal hailed as 'beginning of end' for fossil fuels
"You did step up, you showed flexibility, you put common interest ahead of self-interest," said COP28 president Sultan Al Jaber, whose role as head of the United Arab Emirates' national oil company had raised suspicion among many environmentalists.
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