Norwegian oil major Equinor launched a new climate roadmap to ensure a competitive business model in the energy transition, in line with Paris Agreement. Among others, the company aims to reduce the net carbon intensity of energy produced by at least 50% by 2050.
A key publication presented at the UN Climate Change Conference COP25 in Madrid last month suggests transformational actions and milestones towards carbon neutrality in key areas, such as energy, industry, transport, human settlements, water, land use, and resilience to the inevitable effects of climate change.
As the efforts for protecting and improving the environment escalate, UN’s Secretary General António Guterres gathered leaders on 23 September for the Climate Action Summit with concrete, realistic plans to enhance their nationally determined contributions by 2020, in line with reducing greenhouse gas emissions by 45% over the next decade, and to net zero emissions by 2050.
Many climate experts predict that the next ten years are crucial, thus our actions within this decade will decide whether we are able to reach the ambitious goals of the Paris agreement limiting the global temperature increase to 1.5°C until 2050. Yet, recent studies show that G20 nations are currently failing to reach their climate goals.
The UN Climate Summit (COP 25) in Madrid ended on Sunday after two weeks of intense negotiations, with the UN Secretary General expressing disappointment for the overall result, despite some progress made by the private sector and regional governments.
On the sidelines of COP 25, the International Chamber of Shipping highlighted the urgency of rapidly improving the industry’s fuel efficiency, as demanded now by the sector and the Governments, also welcoming the 4th industrial revolution, aiming to the industry’s rapid decarbonization.
The 25th UN Climate Change Conference (COP 25) opened on 2 December, in Madrid, aiming to take the next crucial steps in the UN climate change process. Following agreement on guidelines of Paris Agreement at COP 24 in Poland, a key objective is to complete several matters with respect to the full operationalization of the Paris Agreement.
In fact, The UNEP Emissions Gap Report for 2019 which was launched on Tuesday, November 26, warns that the world is heading for a 3.2 degrees Celsius global temperature rise over pre-industrial levels, leading to even wider-ranging and more destructive climate impacts, even if countries meet commitments in accordance with the 2015 Paris Agreement.
The United Nations Environment Programme’s (UNEP) issued a report assessing countries’ plans and outlooks for fossil fuel production highlighting a significant production gap. The report was produced by leading research organizations, including the Stockholm Environment Institute (SEI), International Institute for Sustainable Development, Overseas Development Institute, CICERO Centre for International Climate and Environmental Research, Climate Analytics, and UNEP, and more than 50 researchers from numerous universities and research organizations contributed to the analysis and review.
The board of the European Investment Bank (EIB) agreed on November 14 a new energy lending policy and confirmed the EIB’s increased ambition in climate action and environmental sustainability. The new energy lending policy sets out five principles that will govern future EIB engagement in the energy sector.
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