ISO - International Organization for Standardization’s Post

With just 100 days until COP29 in Baku, governments should seize this opportunity to commit to more ambitious NDCs and stronger links between targets and supporting policies at the national level.  NDCs can and must turn ambition into action and policymakers should feel confident in their ability to set and deliver on more ambitious targets. Industry and government collaboration should prioritise delivering high-ambition NDCs that define; 1) clear and detailed roadmaps for implementation,   2) measurable, comprehensive and granular targets,   3) investable plans, especially in emerging markets.  Read our insights briefing #CredibleContributions here: https://lnkd.in/eQfdmpgj  

The United Nations Supervisory Body, responsible for implementing a new carbon crediting mechanism under the Paris Agreement, has announced an ambitious plan to advance its mission. It has accelerated the development of methodological tools and guidelines while gathering input on concerns raised by Parties. This dual approach aims to progress the work and prepare documents for consideration at COP29 in Baku. Newly elected Chair Maria AlJishi emphasises the importance of a clear roadmap for operationalization. The mechanism, established under the Paris Agreement, facilitates international trade of carbon credits to support global mitigation efforts. The Body will oversee requirements and processes, including methodology approval, activity registration, and third-party accreditation. Expert panels have been established to ensure technical expertise and credibility in accrediting auditors and developing standards. Vice-Chair Martin Hession highlights the goal of delivering a fair and effective mechanism aligned with host countries' interests and stakeholders' needs. We at Nellie Technologies welcome the continued efforts of globally critical organisations like the UN in establishing these credible frameworks to establish credible carbon markets for the long term. https://lnkd.in/ev42EZ6W

Productive meeting with Azerbaijan's Minister of Economу Mikayil Jabbarov at #WEF24 We discussed how the International Energy Agency (IEA) can support Azerbaijan's COP29 Presidency to help the world to deliver on the promises of COP28 & to scale up financing for clean energy transitions in emerging economies

• The European Union adopted the European Climate Law (Regulation (EU) 2021/1119) in 2021, which requires the #EU to reach net zero emissions in 2050 – that is, if emissions still exist, they must be offset by carbon sinks through natural interventions or by technologies to remove carbon dioxide from the atmosphere. • To achieve net zero emissions in #Cyprus, the share of petroleum products, which currently account for 85 per cent of primary energy needs, must drop very significantly, first with the advent of natural gas for power generation and then with the electrification of all end-use energy sectors and the high penetration of renewables, and to be effectively zero by 2050 #netzero #climateneutrality • Article written by Prof. Theodoros Zachariadis at Cyprus Mail https://lnkd.in/eGebJj76

On 6 February, the European Commission will present a communication on the 2040 target to the European Parliament and the Council. A leaked document shows the European Commission is planning for a 90% net reduction target (compared to 1990). In addition to massive abatement, the target relies heavily on the use of #CCS and removals. For the EU ETS, that could mean a further tightening of supply in 2031-2040, a period that would see scarce issuance already under the current trajectory. Lawmakers are likely to spend the rest of the year (and possibly into 2025) before agreeing on a target that will be inserted into the Climate Law. In the latest EU Carbon article, Anders Nordeng and Hæge Fjellheim, explain how a headline reduction target at 90% – across the economy – might impact the supply of EUAs post 2030. They discuss the planned use of #carboncapture from industry and from the atmosphere, describe the next steps in the political processing of the 2040 target and Industrial Carbon Management. Additionally, join us for an insightful webinar on Thursday, 8 February 2024, where our experts will share key takeaways from the 2040 target communication and the accompanying impact assessment, the consequences for the market and upcoming political and legislative process. Register now for the webinar ➡️ https://lnkd.in/eGimGK3Y #euets

Fit-for-90? The EU 2040 climate target is the missing link between EUs 2030 climate ambition #fitfor55 and #netzero in 2050. Awaiting the big reveal on 6 February, leaked documents suggest the Commission will propose an EU net climate target of 90 percent emissions reduction (from 1990-levels) by 2040. Our first take what this means for the next phase of #EUETS 👇

In the latest Veyt's article about #EU Carbon, they explain how a headline reduction target at 90% – across the economy – might impact the supply of EUAs post 2030

The European Commission just announced plans for a 2040 emission reduction target of 90% below 1990 levels. Find out more - https://hubs.ly/Q02k8vzl0 This target shows continued ambition within the commission, in the face of growing backlash against climate regulations. The European nations can now provide input on this proposal. The final target will be decided on by a new EU Commission and Parliament, formed after EU elections in June 2024. Last year the European Scientific Advisory Board on Climate Change recommended that the EU targets an emission reduction level of 90 to 95% by 2040, relative to 1990. They say this is grounded on a science-based assessment addressing both fairness and feasibility. #NexantECA in partnership with #BrundtlandConsulting continue to provide clients with essential insights into the impact of CBAM on their businesses, enabling management teams to make better decisions. If you are affected by CBAM or want to find out more, contact us via [email protected] Read more on the EUs target here: https://hubs.ly/Q02k8tSM0 Read more on the European Scientific Advisory Board on Climate Change report here: https://hubs.ly/Q02k8xNB0. #CBAM #CarbonBorderAdjustment #CarbonStrategy #Emissions

Perspectives Climate Research is pleased to announce the publication of a new report examining the alignment of Italy’s public development bank, Cassa Depositi e Prestiti S.p.A (CDP) with the Paris Agreement in its international energy investments and policies. Authored by Max Schmidt, Ziqun Jia, and Luisa Weber, the report highlights the significant role development banks, such as CDP, play for supporting fossil fuels: CDP’s international energy investments and policies are currently rated as ‘Unaligned’ with the Paris Climate Agreement, scoring only 0.22 out of 3.00 points. The report delves into the primary reasons for this low score, including the absence of ambitious fossil fuel exclusion policies and sectoral emissions reduction targets, issues with reporting transparency, CDP’s complex relationship with the oil and gas major Eni, and the disparity between CDP’s domestic sustainability ambitions and its fossil fuel-dominated international energy investments. With a thorough assessment of CDP’s international investments, the case study provides actionable recommendations for the Italian government and the public development bank to bring its portfolio in line with the Paris Agreement. Lead author Max Schmidt says: “In Italy, CDP has demonstrated leadership as a clean energy leader for many years. But abroad, CDP’s energy investments tell a different story: Of perpetuating fossil fuel dependencies rather than ambitiously supporting global energy transitions. Now, with the G7 Summit in Apulia just around the corner, CDP should start leading by example and stop framing climate-damaging fossil gas as a 'transition fuel’ while incentivising clean energy investments abroad much more strongly. Find here the full publication ➡ https://lnkd.in/dQhij6sy #ParisAgreement #CDP #CleanEnergy

Under the European Climate Law, EU Member States will become climate neutral by 2050. As a first milestone, they aim to reduce net emissions by at least 55% by 2030 compared to 1990 with plans for a 2040 emission reduction target of 90%. Free allowances will be phased out steeply – from 2025 less FA than required will be available, business as usual is not an option