Nancy Thuo’s Post

The third working group concentrated on mitigation of climate change in its contribution to the sixth assessment report. Notably, we have a rapidly closing window for deep and rapid cuts in emissions by 2030. Emissions should peak by 2025. In 2023, greenhouse gas emissions were the highest ever. Positively, the cost of solar and wind have both fallen spectacularly, making renewable energy attractive economically as well as for climate. I summarized findings of this extensive report, see my article below: #mitigation #climateaction #climatechange #AR6 #sixthassessmentreport #wg3 #wgiii https://lnkd.in/dwnpkKnS

Nordenergi supports the Commission’s proposal for a 2040 climate target. https://lnkd.in/dkc-NpSq Today the Commission presented the communication on Europe’s 2040 climate target with a proposal of 90% net GHG emissions reduction compared to 1990 levels. Nordenergi fully support the target and it is in line with what Nordenergi called for in our position paper: https://lnkd.in/drm6FjM3 As the EU is not on a path to reach the target with current emissions reduction, further action is needed. Nordenergi believes that keys to reaching the target are: A radically increased rate of electrification of industry, transport and heating when district heating is not an option. Investments in all renewable energy, zero and low carbon solutions as well as investments in the power grid and flexibility. Increased public acceptance for the transition. Last, but not least, speed. Urgent action is required. Europe need a strong, suitable and timely policy framework to reach the 2040-target. Our top priority list are reforms aimed to: - Strengthen ETS as the main driver for emission reductions - Speed up permission - Continue strengthening the European electricity market to make if fit for purpose -Increasing acceptance - Nordenergi will continue to in a constructive way contribute to the policy development needed. Fornybar Norge ENERGIFÖRETAGEN SVERIGE - SWEDENERGY - AB Green Power Denmark Energiateollisuus ry – Finnish Energy

📍 According to the Intergovernmental Panel on Climate Change (IPCC), global warming cannot be limited to well below 2°C without rapid and deep reductions in energy system GHG emissions over the next 30 years. This will require significant changes to how organizations generate and consume energy, including transitioning to renewable energy, electrifying end-use sectors, and phasing out fossil fuels. ➡ The Global Reporting Initiative (GRI), one of the leading organizations promoting standardized ESG reporting, announced the publication of new draft Climate Change and Energy Standards, aimed at enabling companies to disclose their climate change transition plans and actions, and on their climate-related energy transition initiatives. ➡ The proposed climate change standard includes a series of new disclosures, including reporting on reporting on transition plans for climate change mitigation, climate change adaptation, emission reduction targets and progress, as well as disclosures on GHG removal within organizations’ value chains and on the use of carbon credits. ➡ The new Energy Standard focuses on ways in which organizations are reducing their energy consumption, achieving energy efficiency and sourcing renewable energy, and incudes a new breakdown of significant energy consumption in the value chain by both upstream and downstream Scope 3 categories, as well as disclosure on energy target setting, with reporting on the role of energy policy and commitments in the transition to a decarbonized economy. ➡ In order to achieve alignment with other sustainability reporting initiatives, the GRI said that cooperation and review of the drafts have taken place with EFRAG, responsible for the development of the ESRS, the IFRS Foundation’s International Sustainability Standards Board (ISSB) and some national standard setters. 💡 Thus, adopting and reporting on GRI standards is not just a compliance exercise but a strategic decision that can positively impact a company's relationships with stakeholders, risk management, and overall business performance. It reflects a commitment to sustainability, transparency, and responsible business practices. 📌 Refer below to know more on draft standards. 📌 Follow for more such updates. #gri #esgreporting #energytransition #sustainabilityreporting #sustainability #issb #esrs #ipcc #climatetransition #climatereporting #climatechange #standards #esg

CCC says COP28 outcomes must lead to acceleration of action in UK The Climate Change Committee (CCC) has called for the UK to support COP28’s global goals to triple renewable capacity and double the annual rate of energy efficiency improvements by 2030. Read the full story on the Transport + Energy website: https://lnkd.in/dbVUxhys Climate Change Committee , The Association for Decentralised Energy , Piers Forster , Sophie Vipond , Chris Stark , Nigel Topping, CMG , James Richardson Graeme Cooper MBA FEI , Ian Cameron - UK Power Networks , Energy Networks Association (ENA) , Ross Easton #transport #energy #climatechange

COP 28: CLEAN ENERGY INVESTMENTS FOR NET ZERO   As executive secretary of the UN Framework Convention on Climate Change, Simon Stiell aptly stated at COP 28:   “Finance is the great enabler for climate action. The negotiations must put it front and centre…We need COP to deliver a bullet train to speed up climate action.” He also said that more funding is ‘urgently needed to accelerate climate action in poorer nations by funding green energy investment and to help them adapt to the worsening ravages of climate change.’ This message could not have come at a more significant time. Our recent survey with 150 energy players in the region revealed that clean energy project owners face challenges with the lack of pipelines for clean energy projects to support renewable energy production, storage and transmission. The lack of successful track records, well thought-out schemes that enable project owners and negative perceptions of investors were also cited as barriers to green funding. At SEAS, we believe there are opportunities in public-private partnerships to unlock more green financing, with initiatives to drive down the cost of producing or adopting renewable energy. For more on our survey see: https://lnkd.in/dNr6764M https://lnkd.in/d7HizjwA 

📢 Make your voice heard and contribute to the Global Reporting Initiative (GRI) #ClimateChange & #Energy Standards development ⏰🔴 2 days left to provide feedback on the Global Reporting Initiative (GRI) #ClimateChange & #Energy Standards - the public consultation closes on thursday 29 February 2024. The exposure drafts can be accessed here: https://lnkd.in/dmEnVjKk To submit your comments, fill out an online questionnaire at 👉 https://lnkd.in/dDd9tj85 Both Standards respond to emerging disclosure expectations on #climatechange - with key focus on how organizations can urgentily cut #GHG emissions & reduce energy consumption, bringing #justtransition at the core of climate reporting. #sustainabilityreporting #climate #emissions #justtransition #GRIStandards Bastian Buck Harold PauwelsCristina Gil White Andrea Pradilla Matthew Rusk Douglas Kativu Foteini Markou Andres F. Machado Bhongolwethu Sonti Lina Camargo Bianca Maria Bovero Vicky Lacroze Pranati Mehtha Pablo Antonio D´Agostino

Global Reporting Initiative (GRI) releases proposed climate and energy transition disclosure standards Carol Adams #ESG #ESGreporting #sustainabilityreporting #climatechange #energytransition

The CCPI evaluates 63 countries and the European Union, which together generate 90%+ of global greenhouse gas emissions. Using standardised criteria, the CCPI looks at four categories, with 14 indicators: Greenhouse Gas Emissions (40% of the overall score), Renewable Energy (20%), Energy Use (20%), and Climate Policy (20%). The CCPI’s unique climate policy section evaluates countries’ progress in implementing policies working towards achieving the Paris Agreement goals.

CARBON BOMBS PLANNED BY BIG OIL FIRMS THREATEN 1.5C CLIMATE GOAL PART 1 OF 2 KEY POINTS 1. These projects, if allowed to proceed, would result in the production of greenhouse gases equivalent to a decade of CO2 emissions (CO2e) from China, the world's biggest polluter. 2. The projects identified as 'carbon bombs' have the capacity to pump at least 1 billion tonnes of CO2e over their lifetimes, contributing to a total equivalent of about 18 years of current global CO2e 3. The total emissions from these projects would consume the world's entire carbon budget, pushing the climate past internationally agreed temperature limits 4. The potential emissions from these projects, especially from unconventional drilling and fracking, could accelerate global warming and lead to catastrophic climate breakdown. 5. Scientists warn that the continued expansion of oil and gas production, as indicated by these projects, would push civilization to the brink and make it extremely challenging to mitigate the worst impacts of climate change. The 'carbon bomb' oil and gas projects not only jeopardize the 1.5C climate goal but also threaten to exacerbate the climate crisis with devastating impact on a global scale . Governments and individuals can take several actions to prevent 'carbon bomb' oil and gas projects from pushing the world past internationally agreed temperature limits: 1. Government Actions: - Implement Strong Regulations: enact and enforce stringent regulations on fossil fuel projects to limit their emissions and ensure compliance with climate goals. - Phase Out Fossil Fuel Subsidies: gradually phase out subsidies for fossil fuel projects and redirect financial support towards renewable energy sources. - Invest in Renewable Energy: incentivize and invest in renewable energy projects to accelerate the transition away from fossil fuels. - Support Climate Agreements: uphold and strengthen international climate agreements like the Paris Agreement to collectively combat climate change. 2. Individual Actions: - Reduce Energy Consumption: Individuals can reduce their energy consumption by using energy-efficient appliances, carpooling, and opting for public transportation. - Support Renewable Energy: Choose renewable energy options for electricity consumption at home and advocate for renewable energy policies in your community. - Reduce Carbon Footprint: Make sustainable choices such as reducing meat consumption, minimizing waste, and supporting eco-friendly products to lower your carbon footprint. - Advocate for Change: Raise awareness about the impacts of fossil fuel projects, participate in climate activism, and urge policymakers to prioritize climate action. Collective G20 and Big Oil action can prevent the world from breaking dangerously past internationally agreed temperature limits. [PART2 LINK https://shorturl.at/wyJP] Sunita Rajakumar Johan Raslan Gary Theseira [ref news 11.5.2022 https://shorturl.at/eAIO0]

"The GRI published a major update of the standards in 2021, and has announced agreements to align its standards with the European Sustainability Reporting Standards (ESRS) and the IFRS Foundation’s new sustainability reporting standards." #esg #ESRS #impactinvesting #sustainablefinance