PARIS CLIMATE AGREEMENT
Regions worldwide could see warming of 3 degrees Celsius by 2060, study estimates
A new study reveals that most of the world could experience regional warming of 3 degrees Celsius by 2060, sooner than previously projected. Researchers analyzed IPCC climate models and found that several regions, including South Asia and the Mediterranean, are on track to exceed this threshold, posing significant risks to vulnerable ecosystems and communities.
India slams developed countries for climate crisis at ICJ hearing
India argued that developed countries exploited the global carbon budget while hindering developing nations' resource use.
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.
Where's the money? Leaders at climate summit debate trillion-dollar question
At the Qurultay assembly in Baku, nations expressed dissatisfaction with draft climate finance texts. Backroom talks are underway, with the EU and China taking the lead as the US prepares to exit the Paris Agreement. A key sticking point is getting developing nations, particularly wealthy ones, to contribute to the climate fund alongside developed countries.
COP29: Rich nations oppose but developing world sticks to $1.3tn/year demand
At COP29, developing nations, including India and China, are demanding $1.3 trillion per year in climate finance from developed countries. They argue that this funding is a legal obligation under the Paris Agreement, not charity. Developed nations are resisting this figure and seeking to expand the contributor base beyond themselves.
Climate financing goal: Draft text yet to be finalised
Negotiations on a new climate finance goal are ongoing in Baku. Developing countries are demanding $1.3 trillion, with options proposed for public finance contributions. Developed countries have not yet put forward a figure, leading to criticism. The Azerbaijani presidency is expected to release a draft decision soon.
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Azerbaijan calls for global cooperation as COP29 talks enter second week
At COP29 in Baku, Azerbaijan urged nearly 200 countries to deliver ambitious climate outcomes, emphasizing the urgency of the situation. Frustrations over slow progress on emission reduction and financing, particularly from developed nations, were voiced. Azerbaijan outlined plans to address key issues, including a new climate finance goal and enhanced mitigation efforts, aiming for a comprehensive agreement.
COP29 President calls for 'compromise' as climate talks enter second week
At COP29 in Baku, Azerbaijan urged nearly 200 participating countries to deliver "clear and robust" outcomes to address climate change. With "time not on our side," the focus is on bridging implementation gaps and enhancing ambition.
No progress at COP29 in matters critical to developing countries: India
At COP29, India criticized developed nations for delaying climate action and not providing adequate financial support to developing countries. India emphasized the need for financial aid, technology transfer, and capacity building to enable developing countries to address climate change effectively.
As mediators struggle to find common ground, experts say UN Climate Summit needs reform
An open letter signed by prominent figures, including former UN officials and climate scientists, criticizes the UN climate process as ineffective. They call for a shift from negotiations to concrete actions, suggesting smaller, solution-oriented meetings focused on progress and accountability.
India's roadmap to doubling energy efficiency: A key to achieving net-zero emissions by 2070
India is committed to doubling energy efficiency to achieve its climate goals, including reducing carbon intensity by 45% and GHG emissions by 1 billion tonnes by 2030. The nation champions sustainable progress through improved energy efficiency, renewable energy integration, and innovative technologies for cleaner energy systems. Collaboration, financing, and supportive policies are crucial for success.
India demands $1.3 tn for developing countries, says NCQG can't be 'investment goal'
At the UN climate conference, India urged developed nations to commit at least USD 1.3 trillion annually until 2030 to aid developing countries in combating climate change. They emphasized that this support should be provided as grants and concessional financing, not investment goals, aligning with the Paris Agreement's stipulation that developed countries are responsible for mobilizing climate finance.
USD 1 trillion a year needed for developing nations by 2030: High-Level Group on Climate Finance
The report comes a day after several wealthy nations, including Germany, Canada, France and the Netherlands, acknowledged that trillions of dollars were urgently needed to address climate change and that wealthy nations should continue to lead in providing climate finance.
Study suggests that global warming can be kept to 1.5¡ãC, but only if 17 of the biggest emitters step up
The researchers propose a new metric called "additional carbon accountability" to measure just how much extra each country should contribute toward cutting or offsetting emissions.
COP29 climate summit: Global carbon market set to be reality soon
The COP29 climate summit in Baku saw a significant development as negotiators agreed on rules for a UN-administered global carbon market. This market aims to drive emission reduction projects in developing nations. The agreement operationalizes Article 6.4 of the Paris Agreement. The decision, however, faced criticism for its expedited procedural approach, with some countries expressing concerns over limited consultation time.
Sectors with $4.3 trillion in debt face heightened environmental credit risk: Moody's Ratings report
Moody's Ratings releases new environmental heat map. Sixteen sectors with $5.3 trillion in debt face increased environmental credit risk. Coal mining, chemicals, and oil companies are among the most exposed. These sectors are vulnerable to carbon transition and physical climate risks. Water management, waste, and natural capital risks also pose threats. Investors are advised to consider these risks.
Paris agreement climate goals 'in great peril', warns UN
The UN warns that the Paris Agreement goals are at risk. 2024 is predicted to set new temperature records. The period from 2015 to 2024 will be the warmest decade on record. The warming trend is accelerating glacier melt and sea-level rise. Extreme weather events are causing havoc globally. The world needs to act fast to combat climate change.
World leaders descend on Baku to tackle climate change
World leaders are gathering in Baku for COP29, aiming to accelerate global efforts to combat climate change. Key issues include setting a new climate finance goal and finalizing rules for international carbon trading. The US's stance on climate action after the recent election remains a concern.
India heads to COP29 with red lines tied to Paris Pact
India is gearing up for COP29 with a firm stance on climate finance, urging developed nations to fulfill their commitments. The nation is set to advocate for new, grant-based funding mechanisms and resist pressure to restrict investments in coal-based projects. India's position on post-2026 climate targets will depend on the outcomes of COP29 and the stances taken by other countries.
PM Modi, environment minister unlikely to attend UN climate summit in Baku
Prime Minister Narendra Modi and Environment Minister Bhupender Yadav are unlikely to attend the UN climate conference (COP29) in Azerbaijan. India will not have a pavilion at the conference and aims to secure a new climate finance goal and operationalize Article 6 of the Paris Agreement.
COP29 to commence from Nov 11; here¡¯s what to expect from the world's biggest climate conference this time
With the world teetering on disaster and new US President Trump's controversial takes on climate change, COP29 is set be a critical moment for global climate policy.
A Crumbling Planet in Donald¡¯s hands: What Trump¡¯s victory in 2024 means for climate change and global policy
Donald Trump's return to the White House in 2024 threatens to undo climate progress made under the Biden administration.
2024 will be world's hottest on record, EU scientists say
The European Union's Copernicus Climate Change Service (C3S) announced that 2024 is "virtually certain" to become the world's warmest year on record, surpassing 2023. This comes ahead of the U.N. COP29 climate summit in Azerbaijan, where nations are expected to discuss increasing funding to combat climate change.
Don clouds hang over next week's Baku climate conference
Donald Trump's return as US President will impact the upcoming COP29 climate summit. The US may withdraw from the Paris Agreement again. The US is also expected to resist climate finance commitments. This could create challenges for nations like India at the summit. COP29, focused on climate finance, will see crucial negotiations on funding and emission targets.
World will miss Paris climate target as nitrous oxide rises, report says
Failing to control nitrous oxide emissions jeopardizes achieving the Paris climate goal of limiting global warming to 1.5 degrees Celsius. Mainly driven by agriculture, these emissions have surged by 40% since 1980 and are projected to rise significantly by 2050, warranting urgent global action to mitigate their impact.
Climate picture abhi Baku hai
India is preparing for COP29 with plans to balance economic growth and climate targets. Focus areas include renewable energy expansion, a just transition from coal, securing climate finance, and advocating for technology transfer. India pushes for commitments from developed nations on emissions cuts and financial support while highlighting its efforts in renewable energy, adaptation, and climate justice.
FM Nirmala Sitharaman bats for new collective climate action goal
The minister underscored the need for an effective collaboration between developed and developing countries on the UN Framework Convention on Climate Change and the Paris Agreement, adhering to "the principles of equity and common but differentiated responsibilities", according to a finance ministry post on microblogging platform X.
Require 42% cut in annual carbon emissions by 2030, says UNEP
The United Nations Environment Programme has called for a 42% cut in annual global greenhouse gas emissions by 2030 to limit warming to 1.5 degrees Celsius, urging G20 nations to heighten their climate action. Rich nations remain behind in their commitments despite large historical emissions.
India's emissions rose by 6.1% in 2023, but historical contribution stands at only 3%: UN study
India's greenhouse gas emissions rose by 6.1 per cent in 2023, making up 8 per cent of the global total, according to a UN report. However, India historically contributed only 3 per cent to global CO2 emissions. The report calls for urgent global action to close the gap between climate pledges and actual results.
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