Tag: Paris Agreement

The World Economic Forum's Annual Meeting 2025 (January 20-24) has come to a close in Davos, Switzerland, where key matters that impact the globe were discussed, including decarbonization. 

The latest Climate Action Monitor by the Organisation for Economic Co-operation and Development (OECD) shows that current climate commitments have not been matched with effective action.

Parties assembled for the first day of the UN Climate Change Conference achieved success by reaching consensus on carbon credits standards.

The UN Climate Change Conference (COP29) opened on 11 November 2024 in Baku, Azerbaijan, with UN Climate Change Executive Secretary, Simon Stiell, highlighting that "now it is the time to show that global cooperation is not down for the count."

According to International Energy Agency (IEA), while the pledges made during COP 28 are positive steps forward in tackling the energy sector’s greenhouse gas emissions, they would not be nearly enough to move the world onto a path to reaching international climate targets, in particular the goal of limiting global warming to 1.5 °C.

David Griffiths, Claims Executive of UK P&I Club states that to enable decarbonisation of shipping by 2050, in alignment with the Paris Agreement temperature goals, zero emission fuels need to make up 5% of international shipping fuels and 15% of domestic shipping fuels by 2030.

According to International Council on Clean Transportation, the initial strategy of IMO to cut GHG emissions by only 50% by 2050 wasn’t compatible with the Paris Agreement’s aim to limit global warming.

Speakers at Unlocking Green Maritime Jobs panel-discussion (3-5th May 2023) outlined the growing demand for seafarers able to handle low and zero-carbon fuels and new technologies that will be needed in order to progress towards a decarbonized maritime shipping sector by 2050.

The Climate Change Authority of Australia has published a report in which it highlights the importance of oil and carbon capture and storage in reducing emissions.

This week, Chevron presented it's take on carbon capture and storage (CCS) through the practice of storing it permanently underground to keep it from reaching the atmosphere.