Sustainability Notice #22 - COP27 Special Edition (7 -13 November)

World, COP27: Oil and Gas Trade, Fossil Fuel Lobbyist, Vulnerable Nations, Loss and Damage Fund, Roundup, UN, Egypt, African Nations, US, Austria, Germany, Latin America, Ukraine, UK, ISO, Technology, Agricultural Challenges

‘Oil and gas trade show’ promotes carbon capture at Cop27 (Source Link)

Fossil fuel lobbyists outnumber every national delegation at Sharm el-Sheikh climate talks, keeping talks of a phaseout at bay

Fossil fuel lobbyists outnumber almost every national delegation at COP27, data shows (Source Link)

More than 600 fossil fuel lobbyists have swarmed COP27 - more delegates than the combined total of the ten countries most impacted by climate change.

Vulnerable nations publish climate spending wish-lists (Source Link)

Over 30 countries are putting together “prosperity plans” – but their priorities are not always the same as funders’

Developing countries at COP27 call for ‘climate justice’ in the form of adaptation and loss and damage funds (Source Link)

The second day of COP27’s Climate Implementation Summit saw world leaders raise their voices for concrete action, particularly on adaptation and the thorny issue of loss and damage.

Cop27 first week roundup: powerful dispatches, muted protest, little cash (Source Link)

Despite ‘loss and damage’ focus there have been more oil and gas lobbyists than delegates from the most vulnerable countries

From COP27 to EU spending rules, here are the top stories of the week (Source Link)

State of the Union is weekly show from Brussels that brings you the top stories of the week.

UN climate talks near halftime with key issues unresolved - but there is still hope (Source Link)

As the UN climate talks in Egypt near the halfway point, negotiators are working hard to draft deals on a wide range of issues they'll put to ministers next week in the hope of getting a substantial result by the end.

Egypt: COP27 focus should be climate, not jailed activist (Source Link)

Egypt’s foreign minister said that the focus of the UN climate talks being hosted in his country should be efforts to tackle global warming and not a jailed Egyptian activist who is on a hunger strike.

UN probes Egypt police misconduct claims at climate talks (Source Link)

The United Nations says it is investigating allegations of misconduct by Egyptian police officers providing security at this year’s international climate talks.

Midway through UN climate talks, Egypt pushes to bridge gaps (Source Link)

Egypt is pushing to bridge the gaps between negotiating parties at the United Nations’ climate conference as negotiators Saturday finalize draft deals as the first week of the summit wraps up in the seaside resort of Sharm el-Sheikh.

African nations push for funding to adapt to climate change (Source Link)

Battling droughts, sandstorms, floods, wildfires, coastal erosion, cyclones and other weather events exacerbated by climate change, the African continent needs to adapt, but it needs funds to do so, leaders and negotiators from the continent said at the U.N. climate summit.

‘African COP’: Continent centre stage at UN climate conference. But is it enough? (Source Link)

The world's largest climate conference, COP27, has been dubbed by some as the “African COP”. The positions of African countries on renewable energy sources or climate change financing will be centre stage at the talks.

Biden says climate efforts ‘more urgent than ever’ at summit (Source Link)

President Joe Biden, speaking at an annual international summit on climate change, urged world leaders to “double down” on their resolve to fight global warming, saying Russia’s invasion of Ukraine reinforces the need to phase out fossil fuels.

Some countries have resisted 1.5°C goal in COP27 text, US says (Source Link)

A few countries have resisted mentioning a global goal of limiting warming to 1.5 degrees Celsius in the official text of the COP27 summit in Egypt, U.S. Special Climate Envoy John Kerry said.

These Rich Nations Are Finally Committing Cash to Climate Reparations. The US Isn’t Among Them (Source Link)

As of Friday morning, Germany has pledged $170 million for the fund, while Australia has pledged $50 million, Ireland has pledged $10 million and Belgium has promised $2.5 million. The announcements, however, were met with mixed reactions from climate activists and world leaders living in some of the world’s most climate-vulnerable places, including Pakistan, which suffered deadly and historic flooding this year that left a third of the country underwater for months.

COP27: Austria pledges €50m of funding for loss and damage from climate change (Source Link)

Austria will provide €50 million to developing countries facing unavoidable damage and losses caused by climate change, the country’s climate ministry told.

Germany warns its delegation of Egyptian spies at COP27 (Source Link)

German federal police have warned their nation's delegation at the COP27 environmental summit in Egypt that its members may be subject to spying by Egyptian security agents, three people with knowledge of the matter said.

Latin America closes ranks at Cop27 around climate finance (Source Link)

High debt, climate impacts and financial needs are drawing Latin American countries closer together at Cop27 in Sharm el-Sheikh, with some calling for a joint negotiating bloc at climate talks.

Ukraine uses Cop27 to highlight environmental cost of Russia’s war (Source Link)

Ukraine has used the Cop27 climate talks to make the case that Russia’s invasion is causing an environmental as well as humanitarian catastrophe, with fossil fuels a key catalyst of the country’s destruction.

Sunak at COP27: UK to be a “Clean Energy Superpower” (Source Link)

Prime Minister Rishi Sunak has pledged to make the UK into a “clean energy superpower,” as he traveled to the COP27 climate conference in Sharm El-Sheik.

COP27: International Organisation for Standardisation launches Net Zero Guidelines (Source Link)

The International Organisation for Standardisation (ISO) has published new guidelines for all actors and organisations working to deliver net zero pledges.

COP27: How technology plays a role in the climate change negotiations (Source Link)

As the political negotiations continue at the COP27 in Egypt, side events are taking place on various big tech projects and initiatives. These meetings are meant to discuss and analyse technological developments.

Adapt or starve: COP27 spotlights agriculture challenges and solutions in the face of climate change (Source Link)

Small-scale farmers from developing countries produce one-third of the world’s food, yet they only receive 1.7 per cent of climate finance even as they are forced to cope with droughts, floods, cyclones and other disasters.

World, UN, Countries: UN, EU, US, Canada, Nigeria, Brazil and Mexico

UN Expert Group Proposes Rules for Net Zero Commitments (Source Link)

A UN-backed group of sustainability, business, finance and government leaders unveiled a series of recommendations aimed at developing clearer standards for net zero pledges made by businesses and other non-state entities, and avoid the use of the commitments for greenwashing.

Rules for a net-zero energy strategy (Source Link)

This week, a United Nations-sponsored panel took aim at greenwashing, creating a framework for what a credible net-zero emissions plan looks like. The outcome is 10 recommendations that could be used as a rubric for how seriously a company is taking its climate pledges.

UN experts demand crackdown on greenwashing of net-zero pledges (Source Link)

A UN group set up to crack down on the greenwashing of net zero pledges by industry and government has called for "red lines" to stop support for new fossil fuel exploration and overuse of carbon offsets.

UN cancels African energy finance initiative over fraudster’s role (Source Link)

A UN agency has cancelled an initiative to mobilise African private energy investments — including for gas projects — after Climate Home revealed that one of its coalition partners was led by a convicted fraudster and alleged money launderer.

EU Lawmakers Adopt Corporate Sustainability Reporting Rules (Source Link)

In a major step towards the establishment of a new sustainability reporting system in Europe, the European Parliament adopted the Corporate Sustainability Reporting Directive (CSRD), in a 525 to 60 vote (with 28 abstentions).

European Commission Activates Emergency Measures to Cut Red Tape & Accelerate Renewable Energy Deployment (Source Link)

The European Commission announced proposed emergency measures to accelerate the deployment of renewable energy, as part of a series of moves to cut the EU’s dependence on Russian fossil fuels.

EU Lawmakers Ramp Emissions Reduction Requirements for Road, Ag and Buildings Sectors to 40% by 2030 (Source Link)

Lawmakers in the European Parliament and the European Council announced that they have agreed to legislation setting out stricter emissions reductions by member states in several sectors.

EU to Double Renewable Energy Deployment to 100 GW Next Year: von der Leyen (Source Link)

The European Union aims to significantly ramp the deployment of renewable energy, with a goal to roll out a record 100 GW of renewable capacity next year, after more than doubling deployment in 2022 to 50 GW, according to remarks by EU Commission President Ursula von der Leyen today at the COP27 climate conference in Sharm El-Sheikh, Egypt.

U.N. talks not ready to agree climate compensation fund, EU says (Source Link)

Talks about how to compensate vulnerable countries for the damage caused by climate change are not ready to agree on a funding mechanism, a European Union negotiator said , but did not exclude progress on the issue at COP27.

U.S. Launches Nature Based Solutions Strategy to Fight Climate Change (Source Link)

The Biden administration announced the release of its Nature-Based Solutions Roadmap, with recommended actions including updating policies and unlocking funding to increase the deployment of nature-based solutions to address climate change.

US outlines effects of withdrawing land from oil drilling (Source Link)

The U.S. Interior Department’s plan to withdraw hundreds of square miles in New Mexico from oil and gas production for the next 20 years is expected to result in only a few dozen wells not being drilled on federal land surrounding Chaco Culture National Historical Park, according to an environmental assessment.

Biden Unveils Rule Requiring Federal Suppliers to Disclose Emissions, Set Climate Targets (Source Link)

The Biden administration announced its new proposed Federal Supplier Climate Risks and Resilience Rule, requiring federal government suppliers to disclose emissions and climate-related financial risk data, and to set science-based emissions reduction targets.

Biden tightens methane emissions rule amid push for more oil (Source Link)

The Biden administration ramped up efforts to reduce methane emissions, targeting the oil and gas industry for its role in global warming even as President Joe Biden has pressed energy producers for more oil drilling to lower prices at the gasoline pump.

Canada, Nigeria target oil and gas methane emissions with new laws (Source Link)

Oil and gas producers Canada and Nigeria have become the latest countries to tackle the potent greenhouse gas methane with laws to rein in emissions in the fossil fuel energy sector.

Brazil will be climate leader, says ex-minister Marina Silva (Source Link)

Marina Silva, a former environmental minister and potential candidate for the job again, on Saturday brought a message to the U.N. climate summit: Brazil is back when it comes to protecting the Amazon rainforest, the largest in the world and crucial to limiting global warming.

Mexico ups target for cutting emissions, boosting renewables (Source Link)

Mexico announced it’s raising its target for cutting greenhouse gas emissions and boosting the rollout of renewable energy, though it remains a regional laggard on climate action.

Business: Volvo, Iberostar, Apollo, Cognizant, Deloitte, IKEA, KKR, CBOE, NZAM, CDP, Goldman Sachs, Moody’s, UK’s TPT, India and DWS

Volvo Delivers First Trucks Containing Fossil-Free Steel (Source Link)

Volvo Trucks announced that it has begun shipping electric trucks containing fossil-free steel to customers, becoming the first truck manufacturer in the world to do so.

Hotel Chain Iberostar Commits to be Carbon Neutral by 2030 (Source Link)

Global tourism company and hotel group Iberostar announced a series of climate commitments, including a goal to reach carbon neutrality by 2030.

Apollo, Oak Hill Launch ESG Disclosure Initiative for Private Credit Market (Source Link)

A group of alternative asset managers announced the launch of the ESG Integrated Disclosure Project (ESG IDP) template, a new tool aimed at providing a standard format for ESG disclosures for the private credit market.

Cognizant Launches ESG Data and Analytics Solution (Source Link)

Professional services company Cognizant announced the launch of Cognizant Sustainability Accelerator, a new sustainability data and analytics solution aimed at enabling companies to track and take action on their sustainability goals.

Deloitte, Persefoni Partner on Carbon Measurement Solutions for Banks & Insurers (Source Link)

Global professional services firm Deloitte and climate management and accounting platform (CMAP) provider Persefoni announced a new strategic partnership aimed at developing analytics solutions for the banking and insurance companies to measure and manage their operational and portfolio carbon footprints.

IKEA Foundation to Deploy $600 Million in Climate Funding (Source Link)

The IKEA Foundation, a strategic philanthropy funded by IKEA owner INGKA Foundation, announced plans to deploy €600 million in climate funding by 2025.

KKR Invests $400 Million in India-Based Industrial Decarbonization Platform Serentica Renewables (Source Link)

Global alternative asset and private equity investor KKR announced an agreement to invest $400 million in India’s Serentica Renewables, a decarbonization platform focused on providing clean energy solutions for energy-intensive, hard-to-abate industries.

CBOE, Luxembourg Stock Exchange Acquire Stake in Sustainability Data Provider Util (Source Link)

Global sustainability data provider Util announced that it has raised $6 million, in a seed finding round aimed at expanding the company’s global footprint and accelerating hiring.

Net Zero Asset Managers Initiative Hits $66 Trillion AUM (Source Link)

More than 290 asset managers, representing over $66 trillion in assets under management have joined the Net Zero Asset Managers (NZAM) initiative, committing to transition their investment portfolios over time to be in line with achieving net zero greenhouse gas (GHG) emissions by 2050, according to a new update report released by the group.

CDP to Integrate IFRS’ Climate Disclosure Standard (Source Link)

Climate research provider and environmental disclosure platform CDP and the International Sustainability Standards Board (ISSB) of the IFRS Foundation announced that CDP will incorporate the IFRS’ new climate-related disclosure standard into its environmental disclosure platform.

Goldman Sachs & Bloomberg-backed Climate Fund Announces Sustainable Transport Investments in India, Vietnam (Source Link)

The Climate Innovation and Development Fund (CIDF), backed by philanthropic capital from Bloomberg Philanthropies and Goldman Sachs, announced the completion of its first set of blended finance investments, focused on innovative electric mass mobility solutions in India and Vietnam, including electric buses and charging infrastructure.

Moody’s Looks to Launch Scores of Corporate Net Zero Transition Plans (Source Link)

Moody’s Investors Service announced that it is seeking feedback from market participants on a new proposed framework to assess the strength of companies’ carbon transition plans, or “Net Zero Assessments” (NZA).

UK Unveils Disclosure Framework for Net Zero Transition Plans (Source Link)

The UK’s Transition Plan Taskforce (TPT) announced the launch of its new framework for companies to disclose their climate transition plans.

India Prepares to Issue Inaugural Green Bond (Source Link)

The Government of India announced the release of its Sovereign Green Bonds framework, in preparation for the country’s inaugural issuance of green bonds to finance renewable energy, clean transport, sustainable water, and other environmental sustainability projects.

DWS Launches U.S. Equity Dividend, Growth and Value ESG ETFs (Source Link)

DWS, one of the largest asset managers in Europe, announced expansion of its $4 billion ESG exchange traded fund lineup with the launch three new ESG-screened ETFs.

Climate Activism: Activists at COP27, Just Stop Oil, Lisbon, Radical Climate Protests and Ecocide Campaigners

COP27: how young climate activists are changing international human rights law (Source Link)

World leaders and climate scientists aren’t the only ones who have gathered in Sharm El Sheikh, Egypt, for the latest UN climate summit, COP27. Children and young people are also a big part of the conference.

Frustration Simmers Around the Edges of COP27, and May Boil Over Far from the Summit (Source Link)

The failure of global climate governance is leading some scientists and activists to lose faith in the process, and could intensify a vicious cycle of confrontational climate activism and authoritarian responses.

Activists hold silent protest at COP27 (Source Link)

A few dozen activists held a silent protest at the U.N. climate conference venue to highlight human rights violations globally, particularly in Egypt, the host country.

Hundreds of people march through UN climate conference in first big protest at COP27 (Source Link)

At the conference centre in Sharm El Sheikh, the first large-scale protest took place inside the Blue Zone - an area usually reserved for official proceedings and not accessible to all activists.

Swedish cyclist pedals to Egypt to raise climate awareness (Source Link)

The trip took 72-year-old activist Dorothee Hildebrandt and her pink e-bike — which she fondly calls Miss Piggy, after the temperamental character from The Muppet Show — more than four months. She crisscrossed Europe and the Middle East until she arrived in Sharm el-Sheikh.

Famed painting ‘The Scream’ targeted by climate activists (Source Link)

Norwegian police said two climate activists tried in vain to glue themselves to Edvard Munch’s 1893 masterpiece “The Scream” at an Oslo museum and no harm was reported to the painting of a waif-like figure appearing to scream.

Just Stop Oil pauses UK highway protest that snarled traffic (Source Link)

British climate activists who have blocked roads and splattered artworks with soup said they are suspending a days-long protest that has clogged a major highway around London.

Climate protesters in Lisbon storm building and urge minister to resign (Source Link)

Hundreds of protesters angry about the climate crisis took to the streets of Lisbon on Saturday, with dozens storming a building where Portugal’s economy minister, António Costa e Silva, was speaking, demanding that the former oil executive resign.

Throwing soup at the problem: are radical climate protests helping or hurting the cause? (Source Link)

Experts say while radical tactics used by climate protestors can bring attention to social causes, they can also reduce popular support for those movements.

Ecocide campaigners call for environmental damage to be treated like war crimes (Source Link)

Ecocide should be an ‘international crime,’ campaigners at one of the world’s first conferences on the issue have urged.

Research, Report and Other: Deforestation Roadmap, A Just Transition, Global Carbon Emissions, Greenhouse Gas Emissions, Sustainable Food Cold Chains, COP27, Youth Engagement Climate Change, Ukraine War and Covid, Saudi Arabia, Europe’s Climate Extremes, BlackRock, Vanguard, Deutsche Bank, Solar Panels and Europe and Solar Revolution

A deforestation roadmap that leaves a lot to be desired (Source Link)

COP 27 started with the announcement of a plan to end deforestation in soy, palm oil and beef but experts think it's without backbone or bite.

A just transition depends on energy systems that work for everyone (Source Link)

Climate justice activists at Cop27 demand community-based renewable projects that work for the people, not corporations

Global carbon emissions at record levels with no signs of shrinking, new data shows. Humanity has a monumental task ahead (Source Link)

Global carbon dioxide emissions from all human activities remain at record highs in 2022, and fossil fuel emissions have risen above pre-pandemic levels, according to a new analysis by an international body of scientists.

Greenhouse gas emissions could be ‘three times higher’ than oil and gas producers claim (Source Link)

Global greenhouse gas emissions from oil and gas are up to three times higher than fossil fuel polluters claim, new research warns.

Sustainable food cold chains reduce waste, fight climate change: UN report (Source Link)

Greater investment in sustainable food cold chains is needed to reduce hunger, provide livelihoods to communities, and adapt to climate change, two UN agencies said in a report published.

COP27: three reasons rich countries can no longer ignore calls to pay developing world for climate havoc (Source Link)

Payments from high-emitting countries to mitigate the harm that climate change has caused in the most vulnerable parts of the world is finally on the agenda for discussion at a global climate change summit, more than 30 years after the idea was first articulated by delegates from small island developing states.

Science Day at COP27 Shows That Climate Talks Aren’t Keeping Pace with Planetary Physics (Source Link)

A new report warns that the “myth of adaptation” is putting millions of people at risk.

Looking for hope at COP27? The Children and Youth Pavilion is leading the way (Source Link)

In the maze of COP27, people have been flocking to one pavilion in particular: the space dedicated to children and youth.

Youth engagement is pivotal to climate adaptation programmes (Source Link)

According to a recent study published by the Adaptation Fund, youth have much more to offer their communities and countries in multilevel climate action.

Climate change: Dimming Earth, mustard shortages and other odd side-effects (Source Link)

As well as fuelling deadly floods and drought, rising temperatures are cited as a cause of spontaneous explosions of Siberian permafrost, mustard shortages and the planet becoming dimmer.

Ukraine war and COVID fuel record breaking carbon emissions in 2022, report reveals (Source Link)

Fossil fuel emissions will hit a record high in 2022 and show no sign of decreasing, according to an analysis by the Global Carbon Project.

Can Saudi Arabia buck the global trend on funding conservation? (Source Link)

At the Saudi Green Initiative at Cop27, wildlife experts joined forces to call for accelerated action in protecting the land and promoting biodiversity

The true cost of Europe's climate extremes in data: Which country has been hit hardest? (Source Link)

At COP27, world leaders will be discussing how to take concrete action against the collective threat of climate change. Its impacts have become increasingly more evident with extreme weather such as heat waves, floods, and storms.

BlackRock, Vanguard and Deutsche Bank among firms still financing deforestation, new report shows (Source Link)

Financial firms that pledged to reach net zero are still investing $8.5 billion in companies linked to deforestation, new research reveals.

Electricity-generating windows? Swiss scientists design more efficient transparent solar panels (Source Link)

Scientists in Switzerland have reached a new efficiency record for transparent solar cells, paving the way for electricity-generating windows that could help power our homes and devices. Also known as Gr?tzel cells, dye-sensitised solar cells (DSCs) are a type of low-cost solar cell that uses photosensitised dye attached to the surface of a semiconductor to convert visible light into energy.

The Netherlands, Germany and Spain: Which European countries are leading the solar revolution? (Source Link)

Travelling around Europe on a clear day, you’re increasingly likely to spy a sheet of solar panels glinting in the sun.