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Progress Possible at COP 28 Despite Fossil Fuel Industry Deception

Union of Concerned Scientists

Last week, I joined my colleagues at COP28 in Dubai , as negotiators and civil society push for a fossil fuel phaseout to meet climate goals. The industry is pushing a narrative that misleadingly calls out emissions , not fossil fuels as the problem. Global net anthropogenic greenhouse gas emissions 1990–2019.

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What EXACTLY Did the UN Conference Decide?

Legal Planet

This group of nearly all the world’s nations says that it: [R]ecognizes the need for deep, rapid and sustained reductions in greenhouse gas emissions in line with 1.5 °C Non-CO2 greenhouse gases. In a fourth significant subsection, section 28 highlights the role of greenhouse gases other than carbon dioxide.

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Paris Agreement Article 2.1(C) sounds obscure – but it packs a big punch for cleaning up the financial sector.

Enviromental Defense

C) of the Paris Agreement has significant implications for how the global financial system works and will be a centrepiece of the coming years. It calls for countries to make all “finance flows consistent with a pathway towards low greenhouse gas emissions and climate-resilient development.” C) of the Paris Agreement.

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Sustainable Finance 101: Transforming Finance for a Sustainable Future

Enviromental Defense

Canada promised to cut its greenhouse gas emissions after the 2016 Paris Agreement. It was part of the global agreement where 195 countries all agreed to reduce their emissions, and Canada has set this promise into law. The federal government has set targets and policies for most sectors in the economy….except

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Oil Companies Plan to Take the Road Already Traveled

Union of Concerned Scientists

The key word here is “ intensity :” Fossil fuel companies often focus on emissions intensity, meaning emissions per barrel of oil, rather than absolute emissions, which is a set number measured in metric tons. Heat-trapping emissions must be cut in half by 2030 to reach the Paris agreement goal of keeping global warming to 1.5

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Banks Continue to Prop Up the Fossil Fuel Industry

Union of Concerned Scientists

Last month, the British-based Bureau of Investigative Journalism (TBIJ) reported that London-based HSBC, one of the world’s top-10 biggest banks, has helped raise $47 billion for the fossil fuel industry since its 2022 announcement that it would not finance new gas and oil infrastructure. degrees Celsius, or 2.7 degrees Celsius, or 2.7

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Governing Emissions Trading in California and China

Legal Planet

As of 2021, 30 emissions trading systems were in force globally, covering 16 – 17 % of global greenhouse gas (GHG) emissions. California’s system uses revenues from auctioning allowances to fund its Greenhouse Gas Reduction Fund (GGRF) and to limit cost increases to electricity users. Carbon markets are at a crossroads.