Global Scans · Climate · Weekly Summary

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WHAT'S NEXT?: Dealing with climate change over the next 15 years will require $6 trillion USD in annual investment. Organizations, large and small, will increasingly be pressured to deal with the effects of global climate change or face increased costs through not fully adopting sustainable policies. Instantly explore what’s changing and likely to impact your organization and how to mitigate the threat for the benefit of all mankind.

• [New] Plaintiffs argue that South Korea's goal of reducing carbon emissions by 40% by 2030 compared to 2018 levels is insufficient - it will lead to disastrous climate change and violate their constitutional rights. NPR
• [New] Among 66 of the world's most economically vulnerable nations, 47 will likely face insolvency in the next five years if they invest the amounts required to meet their climate and development goals. Carbon Brief
• [New] An assessment by the Independent High-Level Expert Group on Climate Finance in 2022 concluded that developing and emerging countries - excluding China - need to invest $2.4 tn every year, by 2030, to meet their climate goals. Carbon Brief
• [New] Coal-fired power generation, regardless of its efficiency, emits substantial amounts of CO2, and it is emphasized that coal-fired power should be phased out by 2030 in developed countries in order for the world to avoid the worst impacts of climate change. Japan Beyond Coal 2030
• [New] Today's announcement will invest billions to ensure that affordable housing across the U.S. can access solar and increase energy efficiency and climate resilience. US EPA
• [New] Canada's climate targets involve decreasing greenhouse gas emissions to 40% below 2005 levels by 2030 and reaching net-zero by 2050. Bulletin of the Atomic Scientists
• [New] Ireland set out key climate targets in its Climate Action Plan in 2021, with a goal of a 51% reduction in greenhouse gas emissions by 2030, and net zero by 2050. European Climate, Infrastructure and Environment Executive Agency
• [New] Two-thirds of fashion brands will not be able to meet their sustainability targets unless they accelerate emissions reduction, and 40% have seen their emissions increase since making climate commitments. Fortune Europe
• [New] As the UK Government has committed to bring all greenhouse gas emissions to net-zero by 2050, and investors' focus on assets' green credentials increases, the property sector is increasingly adopting green leases to reduce environmental impact. Mishcon de Reya LLP
• [New] In view of the global efforts to reduce greenhouse gas emissions and to address the adverse impacts of climate change, cooperation on CBET is serving as an important mechanism for countries to promote the trade in clean energy sources, which could reduce their dependence on the use of fossil fuels. FratiniVergano
• Environmental crimes like land grabbing, illegal deforestation, and poaching hinder climate action, deter investment in sustainable practices, and threaten biodiversity across major biomes worldwide. Mongabay Environmental News
• Because of the Canada Carbon Rebate, the Government of can take real action to slow down climate change and still protect households from increased costs that climate change will mean for insurance, infrastructure repairs, health care, and more. Yahoo Finance
• Open dumping and inappropriate disposal in landfills presented threats to public health and safety of the environment as well as contributed an estimated 5% of global greenhouse gases to climate change. Ghana News Agency
• As the single largest climate investment in the Inflation Reduction Act, the Greenhouse Gas Reduction Fund will cut emissions, protect health, and create job and economic opportunities so that communities will not just survive but thrive for generations to come. US EPA
• Based on what we hear, there's no reason to doubt that the climate rules for cars and light-duty trucks are going to cut well over 90% of the carbon pollution from new cars, SUVs and pickup trucks over the next few decades. The Washington Post
• Climate change poses micro prudential and macroprudential risks for the financial system in the form of direct physical shocks and risk from transition to a low-carbon economy. Times of Oman
• USAID is advancing U.S. government objectives to reduce global greenhouse gas emissions in the coming decade and helping countries increase their resilience to global climate change through its new Agency-wide Climate Strategy 2022-2030, rooted in inclusion and equity. Education Links
• The decarbonization of the waste-to-energy industry is crucial in achieving ambitious climate goal of reducing greenhouse gas emissions by 55% by 2030. PR Newswire
• Carbon markets are expected to play an important role in achieving climate, energy security, and sustainable development goals by boosting the efficiency of energy transitions and raising money for clean energy projects. Businessday NG
• The new rules announced by the Environmental Protection Agency (EPA) will apply to vehicles including freight trucks, school buses and waste haulers built between 2027 and 2032, and will prevent around a billion tons of greenhouse gas emissions from entering the atmosphere. Tech Xplore
• By supporting innovative household solutions and investing in climate-resilient infrastructure, impact investors can contribute to the Sustainable Development Goals and improve the well-being of communities around the world, aligning values with the potential for financial returns. GreenMoney
• In addition to the carbon tax, South Africa plans to use sectoral and company-level carbon budgets as part of the mitigation policy package to achieve the nationally determined contributions (NDC) to the United Nations Framework Convention on Climate Change (UNFCCC). IMF eLibrary
• Steep cuts in carbon emissions, mainly from burning fossil fuels, will be needed in the coming years if targets to limit a global rise in temperatures and prevent runaway climate change are to be met. CNN

Last updated: 28 April 2024