The Business & Climate Monthly Newsletter (October 2024)
ZeroBees - Certified B Corp?
Understanding sustainability & carbon for SMEs and supply chains | B Corp Advisory | ESG | Decarbonisation
Our round up of this month's HOT NEWS on business, sustainability, carbon and climate over the last month
October's been a demonstration of the real here and now impacts of climate change on one hand, and the lack of appropriate action on the corporate and international stage. We've seen?deadly floods across Spain,?the second most intense Atlantic hurricane recorded in the Gulf of Mexico?and a study from Imperial College's World Weather Attribution group specifically demonstrating that extreme weather events over the last ten year have been made both more intense, more likely and more deadly due to the increasing levels of greenhouse gases in our atmosphere. Here's our round up of October...
1. Greenhouse gas emissions hit record high in 2023, with most nations off track with reduction targets
The UN Environment Programme’s (UNEP) new annual emissions gap report confirms that global emissions exceeded 57 gigatonnes (!) in 2023 for the first time in history, with a 1.3% increase recorded on 2022 levels. Nations are largely off track to delivering their 2030 climate targets made under the Paris Agreement, UNEP has concluded. Even if these targets are delivered in full, the world’s temperature increase on pre-industrial levels would be about 2.6C-2.8C by 2100. At current rates, however, the world is on track for a 3.1C future. Let's hope this message lands at the upcoming COP29.
2. UK has more work to do to meet carbon reduction targets by 2030
Ethical Consumer has been tracking the UK’s progress against it’s climate targets since 2021. Their latest report was released on 25th October. It depicts a mixed report. Some indicators appear to be going in the right direction, for example a reduction in meat and dairy consumption, but others e.g. food waste, are increasing rather than decreasing. Overall, a LOT of work to do. Read more from Ethical Consumer's Climate Gap report here.?
3. ... and rather than focusing on reduction, UK Government pledges ￡22bn for carbon capture and storage technology
Argh! ￡22bn funding for carbon capture and storage in the UK rather than focusing on dealing with reducing emissions - a move that'll keep fossil fuel lobbyists happy.? Read more here.?
4. Upcoming COP29 host Azerbaijan set for major fossil gas expansion
Azerbaijan, host of the COP29 global climate summit, will see a large expansion of fossil gas production in the next decade, a new report has revealed. The authors said that the crucial negotiations should not be overseen by “those with a vested interest in keeping the world hooked on fossil fuels”. Anyone surprised? Read more here.
5. An added complexity: trees and land absorbed almost no CO2 last year. Is nature’s carbon sink failing?
Preliminary findings from a group of scientists in 2023 show the amount of carbon absorbed by land has temporarily collapsed, resulting in forest, plants and soil as a net category, absorbing almost no carbon. Johan Rockstrom - director of the Potsdam Institute for Climate Impact Research, told an event at New York Climate Week in September: “We’re seeing cracks in the resilience of the Earth’s systems. We’re seeing massive cracks on land – terrestrial ecosystems are losing their carbon store and carbon uptake capacity, but the oceans are also showing signs of instability”. The 2023 breakdown of the land carbon sink could be a temporary phenomenon but should not go unnoticed as a glaring warning sign of the fragility of our ecosystems.
6. Yet only $163m pledged by governments for Global Biodiversity Framework Fund at COP16
Eight governments, including those of the UK, France and Germany, have pledged an additional $163m to the Global Biodiversity Framework Fund (GBFF) at COP16 in Colombia. The Framework provides a global vision under which nations collectively work to halt the decline of nature this decade. This current pledge brings the total amount committed to the GBFF to just under $400m, under 2% of what developed nations promised to contribute by the end of 2025. More here.
Quote of the month
“We can – and must – save the ecosystems that sustain us and keep our climate goals within reach. The survival of our planet — and our own — is on the line. Let us choose wisely. Let us choose life. Let us make peace with nature.”
- Antonio Gueterrez, UN Secretary General, on the COP16 biodiversity summit
领英推荐
Jargon busters
We're jargon busting to make sure climate impact is accessible and as simple as possible, one topic at a time.
What is a COP?
A Conference of the Parties (COP) is a governing body for an international convention, such as a treaty, that is made up of representatives from member states and accredited observers. COPs are the main decision-making body for the United Nations Framework Convention on Climate Change (UNFCCC), a multilateral treaty adopted in 1992, and also the Convention on Biological Diversity (CBD) has a series of COPs where governments from around the world agree on goals to address biodiversity loss. COP16 was held at the end of October 2024 on biodiversity in Colombia, and the next climate COP is in Azerbaijan in mod November.??
COPs are where governments to come together to measure progress and negotiate solutions. At the end of each COP, the parties agree to a statement or binding agreement that is publicly released.?
For climate, COPs typically take place annually, and world leaders work together to:
Click here for more on COP29?and read our blog on the UK's COP29 priorities here.??
ZeroBees News
Have you tried our freemium platform?
Want to test-drive the ZeroBees carbon platform for free, and get your Scope 1 and 2 results today?
The free version of our platform to help everyone get started with their climate journey is?here.
That's all for this month! Do let us know any feedback, topics you'd like us to cover or visit us at ZeroBees.com
#bcorp #regulation #sustainability #decarbonisation #business #netzero #zerobees #eco #climatecrisis #regulation