Welcome to the first Carbon Insights newsletter of the year! 2025 has begun with significant challenges for the climate—from devastating wildfires in California to shifting political agendas that threaten to stall progress. But now is not the time to lose hope. If anything, these setbacks highlight the urgent need for collective action. In this edition, we explore these global challenges and opportunities to drive meaningful change. Let's dive in!
- The U.S. withdraws from the Paris Agreement: The new U.S. administration has reversed its predecessor's climate commitments, including rolling back $300 billion in energy transition funding. This has raised global concerns about the future of international climate cooperation.
- European leaders reaffirm climate commitments at Davos: At the World Economic Forum, the EU Commission President reaffirmed Europe's commitment to climate action, calling the Paris Agreement "the best hope for humanity" despite global setbacks.
- Corporates urge the EU to protect sustainability laws: A coalition of 11 major companies, including Unilever and Nestlé, urges the EU to uphold sustainability regulations amid proposed amendments to the CSDDD, CSRD, and EU Taxonomy. While streamlining compliance is a priority, businesses warn against weakening these critical policies.
- Banks continue to exit GFANZ: Following the departure of major American banks, including Citigroup and Bank of America, five Canadian banks have now left the GFANZ alliance, with several major European banks reportedly considering an exit as well.
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