Skuld’s Post

❝The intention of developed countries is to not come up with a big number for the New Collective Quantified Goal on #ClimateFinance (#NCQG). Developing countries have been mentioning their needs in the trillions for #Mitigation, #Adaptation and #LossAndDamage.” - Harjeet Singh of Fossil Fuel Non-Proliferation Treaty Initiative at a press conference held by Oil Change International during which we heard updates on the new text for the New Collective Quantified Goal on #ClimateFinance (#NCQG) and the #JustTranstion at #COP29.

Enjoyed writing my latest article concerning the FuelEU Maritime Regulation which shall enter into force next year. Read through it below and see how this new regulation pushes for greener practices within the shipping industry!

The FuelEU Maritime Regulation aims to reduce the EU's environmental footprint by promoting environmentally-friendly practices, the use of low-carbon fuels and alternative sources of energy, all while supporting the Union's long-term climate goals. Read more about Regulation 2023/1805 in the below write-up by Gabriel DeBono. #FuelEUMaritimeRegulation #ClimateNeutralityTarget https://lnkd.in/dgJap_cQ

To achieve the ambitious goal 🎯 of climate neutrality 🌳 by 2050, the European Union has so far largely focused on reducing greenhouse gas emissions. However, as reducing emissions alone will not be sufficient for this purpose, it is important to capture unavoidable greenhouse gases 🌫 (e.g., from energy-intensive industries) and utilize them as sustainably as possible. To achieve this, the EU Commission presented a concept on 6 February 2024, which is intended to provide funding for carbon storage technologies and map out the necessary infrastructure. In Germany, the underground storage of carbon dioxide is prohibited. However, this is to be made possible in future on the high seas – outside of marine protected areas. #CO2 #EU #trade https://lnkd.in/dyRh7qgm

The concluding document of the Italian-led #G7 # Environment- #Energy meeting in Venaria Reale sees significant progress in terms of commitments towards achieving climate neutrality. The final document aligns with the approach of European policies proposed and pursued thus far, and for the first time recognizes the need to mobilize substantial public and private resources to be allocated to developing countries to achieve #climate objectives and to adapt the most vulnerable countries to rising temperatures. These decisions will need to be ratified by the G7 Finance meeting in May and the Summit of Heads of State and Government in mid-June.  Here the text of the Joint Declaration https://lnkd.in/dqXvrh2K

🚨 𝗜𝗺𝗽𝗼𝗿𝘁𝗮𝗻𝘁 𝗗𝗲𝘃𝗲𝗹𝗼𝗽𝗺𝗲𝗻𝘁𝘀 𝗮𝘁 𝘁𝗵𝗲 𝗣𝗿𝗲-𝗖𝗢𝗣 𝗠𝗲𝗲𝘁𝗶𝗻𝗴𝘀 𝗶𝗻 𝗕𝗮𝗸𝘂 🌍 During the recent pre-COP meetings held in Baku, the Article 6 Supervisory Body reached crucial milestones for implementing the Paris Agreement. After five days of intense discussions, the following key standards were officially adopted: 1️⃣ Standard on Methodology Requirements: This standard sets the criteria for developing and assessing methodologies under the Paris Agreement Crediting Mechanism, ensuring that projects are aligned with the global climate goals. 2️⃣ Standard on Activities Involving Removals: This standard outlines the rules for projects focused on removing greenhouse gases from the atmosphere, emphasizing the importance of carbon removals in achieving net-zero targets. Additionally, the Supervisory Body approved a new procedure for the performance monitoring of DOE's under the PACM. 💚 I'm excited to see how these standards will shape the future of climate action and carbon markets! #ClimateAction #ParisAgreement #Sustainability #CarbonMarkets #PreCOP #Article6 #NetZero #GlobalCooperation

#Slam ##Dunk IMO's policies and actions fall short in addressing climate change in international shipping • The International Maritime Organization's (IMO) current policies and actions to address climate change in international shipping are insufficient and fail to align with the goals of the Paris Agreement. • Despite accounting for about 3% of global greenhouse gas (GHG) emissions, international shipping emissions are projected to increase between 1-5% above current levels by 2030 under current policies. • The IMO's initial GHG Strategy set emission reduction targets for 2030 and 2050, but progress has been slow, with the adoption of energy efficiency measures that have limited impact and may even increase overall GHG emissions due to a shift to LNG-powered ships. • The 2023 revisions to the IMO's GHG Strategy introduced new emission reduction checkpoints and a strengthened long-term target of net zero, but no new concrete measures were adopted to reduce emissions. • The IMO has adopted several energy efficiency measures, but their impact is marginal, and further efforts are needed to meet the carbon intensity target for 2030. • A ban on heavy fuel oil (HFO) in the Arctic, adopted in 2021, has been criticized for its loopholes and delayed implementation, allowing most Arctic shipping activities to continue as usual. • While the IMO has launched initiatives for a just transition for workers in the maritime sector, more concrete actions are needed to support seafarers in adapting to the challenges of decarbonization.

How can the EU safeguard its leadership on clean cooling against the threat from illegal trade and Trump's election in the US? As ATMOsphere's Europe conference kicks off this morning, Euractiv have published this op-ed from my colleagues Fionnuala Walravens and Davide Sabbadin on our new F-gas Regulation Handbook. The F-gas Regulation is key to Europe's climate targets and we need to make sure its implementation is swift and thorough. https://lnkd.in/eb-ep7pX #Fgas #HFC #NaturalRefrigerants #Climate

📣 Wopke Hoekstra, the Dutch Commissioner-designate for Climate, Net-Zero and Clean Growth highlighted the following priorities at the joint ENVI, ITRE & ECON European Parliament EP hearings yesterday: 👉 implementing all current #climate-related legislation, while acknowledging the legitimate concerns of firms & citizens about the cost of achieving climate goals; 👉 committing to enshrining a 90% net greenhouse gas emission-reduction target for 2040 in the #EuropeanClimateLaw for the EU to become climate neutral in 2050; 👉 proposing an EU “#CleanIndustrialDeal” within 100 days to support EU companies to reach the climate goals; 👉 committing to work towards phasing out all fossil fuel subsidies financed by the EU budget. I am looking forward to coopering on these priorities!