CCPI - Climate Change Performance Index’s Post

Brazil's government is planning to introduce a series of #energytransition -related bills in the next 100 days. These bills are aimed at increasing the use of #renewablefuels and regulating related sectors, such as #offshorewind farms. The government believes that these bills will boost Brazil's #decarbonization credentials at the upcoming #cop28 climate summit. The four main topics of the bills are: -Establishing a new #carbonmarket -Regulating offshore #windpower -Launching the "Fuel of the Future" #project -Regulating #greenhydrogen The "Fuel of the Future" project is aimed at stimulating the production of #sustainableaviationfuel (SAF) in #brazil The #government expects to encourage the use of degraded farmland to drive SAF output. Other proposals include raising the required #ethanol blending into #gasoline to 30% from the current 27%. The government believes that these bills are important for Brazil to achieve its #climategoals. Brazil is currently the world's 7th largest emitter of greenhouse gases, and the government has pledged to reduce its #emissions by 50% by 2030. The success of these bills will depend on the willingness of Congress to pass them. The government has said that it is confident that Congress will approve the bills, but there is no guarantee. If the bills are passed, it would be a major step forward for Brazil's energy transition and its climate goals. What do you think about Brazil's plans for energy transition? Comment.

Unlocking Carbon Pricing Revenues for Impactful Climate Action by Bellona Europa Key Findings: - As part of the EU's Next Generation EU program, 75% of the Carbon Border Adjustment Mechanism (CBAM) and 30% of the EU Emissions Trading System (ETS) revenues will contribute to the EU's resources. - These instruments are expected to generate €7 billion annually from 2024 and €20.5 billion annually from 2028 onwards, with the potential for further revenue increases - Phasing out free allowances for CBAM sectors (iron, steel, cement, etc.) between 2026-2034 will boost ETS revenues and provide additional funding for the Innovation Fund - Expanding CBAM's scope to new sectors like plastics and petroleum products in 2025 could increase revenues. Why It Matters: The EU is at the forefront of global efforts to combat climate change, and effective allocation of carbon pricing revenues is crucial for achieving its ambitious net-zero targets. These funds are vital for financing industrial decarbonization, fostering clean technology development, and supporting international climate action. Transparent and science-based criteria are needed to ensure these revenues contribute to meaningful emission reductions and drive the transition to a sustainable, low-carbon economy. The EU's decision to allocate a significant portion of CBAM and ETS revenues to its resources is a positive step, as it provides a dedicated funding stream for climate action. However, clear guidelines and accountability measures must ensure these funds are spent effectively and consistently in accordance with the EU's climate objectives. Furthermore, the international dimension of the CBAM must be considered. A portion of the revenues could be strategically allocated to support industrial decarbonization efforts in non-EU countries, particularly those most affected by the CBAM. This aligns with the EU's aim of encouraging cleaner production globally and could foster constructive dialogue and cooperation on climate action #greenhydrogen #energy #energia #energie #hydrogeneurope #nh3 #industrialclusters #energytransition #sdgs2030 #energialimpia #esg #hidrogenoverde #afrique #cleanenergy #industria #unido #decarbonization #emissionsreduction #descarbonizacion #electrolysis #electrolyzer #electrolyser #pem #soec #ev #electrification #electricvehicles #fcev #bev #soe #aem #cathode #anode #h2 #oxygen #greenelectricity #water #energy #renewableenergy #greenhydrogen #idrogenoverde #hydrogènevert #hydrogenenergy #hydrogenstrategy #hidrogenioverde #hidrogenoverde #hidrógeno #hidrogenio #wasserstoff #wasserstoff #onshorewind #solarenergy #hydroenergy #ifc #afc #H2Med #irena #h2lligence #decarbonize #renewableenergy #canaldesuez #iea #sokhna #sfe #afriquedusud #afriquedelouest #egypthydrogen #emethanol #hydrogènevert #hydrogène #windenergie #hydrogenenergy #hydrogenfuel #hidrogenoverde #hidrógeno #hidrogenioverde #idrogenoverde #idrogeno #hidrojen #windpower #windenergy #aviation  Osama Fawzy Georgy

CCUS, Article 6 "The final text adopted on Dec 13 also recommends the use of carbon capture and utilisation methods to accelerate zero-emission and low-emission technologies, something that Singapore “so badly needs” to decarbonise, said Ms Fu, who was also involved in co-facilitating negotiations on mitigation with Norwegian Foreign Minister Espen Barth Eide. Such technology has been controversial, with some energy experts saying many have no proven track record of effectiveness. Others are concerned that its use would inadvertently lead to the prolonged use of fossil fuels. However, the consensus endorses their use, particularly in hard-to-abate sectors." "She was also disappointed by the lack of an agreement on Article 6, relating to carbon markets, as countries were unable to come to a consensus on a number of outstanding issues. “To facilitate high integrity and robust carbon markets, we will want to work with like-minded countries and partners to develop the framework needed, by building on our existing efforts... and (our) implementation agreements,” she added. At COP28, Singapore had signed an agreement with Papua New Guinea to collaborate on carbon markets, which will allow local companies to purchase carbon credits from projects there to offset up to 5 per cent of their carbon tax. The Republic had also substantively concluded negotiations with Paraguay, Bhutan, Vietnam and Ghana." https://lnkd.in/gRWpJCBt

Carbon offsets are figuring prominently in this year's COP28 discussions. Developing countries are offering deforestation reduction credits as a way to raise capital to help in funding domestic renewables. Yet without a proper global regulatory framework in place, this could result in adverse outcomes and make it even harder for developing countries to achieve their nationally-determined contributions (NDCs). Among the big purchasers of offsets are wealthy industrialized countries and oil and gas producing countries. In Canada's recently released Regulatory Framework for and Oil and Gas Emissions Cap, there are provisions for meeting part of the compliance obligations through the purchase of international carbon offsets. Demand for these credits will only rise in the coming years, so important to have a robust global framework in place.

The intricacies of Article 6.2 of the Paris Agreement, a cornerstone topic at the COP28 UAE, have recently materialized in a tangible transaction. The KliK Foundation, based in Switzerland, executed the inaugural procurement of International Transferable Mitigation Outcomes (#ITMOs), sourced from the environmentally-conscious initiatives in Thailand. This transaction, underpinned by the stipulations of Article 6.2, entailed the acquisition of precisely 1,916 ITMOs. These were procured from the Thailand-based Energy Absolute Public Co. Ltd., for the innovative Bangkok E-Bus Program. The transfer not only symbolizes a significant stride in international climate collaboration but also delineates a nuanced approach to environmental stewardship. Going further, Article 6.2 shows a sophisticated, collaborative approach. It is designed to better account for greenhouse gas emissions. This system cleverly facilitates the exchange of cross-border debt, taking advantage of the ITMO framework. Such an approach is crucial in fostering a spirit of solidarity among countries to promote cooperation against climate change. Subsequently, Switzerland will integrate these ITMOs into its environmental policy to meet ambitious climate targets. At the same time, Thailand is set to cautiously reassess its greenhouse gas emissions. This reanalysis is necessary to prevent the pitfalls of double counting, and to ensure transparent and accountable estimates of climate action. https://lnkd.in/eaMwn6Je

Our friends over at Climate Council recently released an extremely interesting report 🤝 TL;DR? The regional transformation to net zero emissions represents a once-in-a-generation opportunity for Australia to grow new export industries and replace the fossil fuels it sells today. The bulk of Australia's exports of coal, oil, and gas goes to Japan, China, South Korea, and Indonesia. We need to establish smart energy partnerships with these trading partners so we can: 💪 reinforce our reputation as a reliable trading partner 💪 enable cooperation on cutting climate pollution & grow markets for our renewable energy exports 💪 promote investment in Australian resources and industry. Our International Director Richard Merzian offers a way of going about this – COP31. Australia hosting the COP31 talks in 2026 could be a way for the country to turbocharge smart energy agreements with our partners. COP isn't just a two-week event, it's a journey, and along that journey we could cut a new trade deal with Japan, with Korea, with India, with Indonesia, where we deliver a joint net zero pathway. A pathway where Japan and Australia can work hand in hand to make sure Japan is comfortable with energy security going forward, and Australia remains the partner of choice with its energy security going forward (and of course, both of them meet their decarbonisation pathways). Mark Tilly Carbon Pulse Wesley Morgan Ben McLeod Jennifer Rayner PhD GAICD Josh Comer Tennant Reed Australian Industry Group (Ai Group) #SmartEnergy #COP31 🔗 https://lnkd.in/gDj5DV6i

📢 🔔 🌍 The European Commission has just published the Carbon Market Report, which reviews the functioning of the #EUETS in 2022 and the first half of 2023. Despite a challenging year marked by the energy crisis, the EU ETS has remained a cornerstone in the EU's strategy to reduce emissions cost-effectively. 🔗 https://lnkd.in/dBYcEasj 🔑 Some key takeaways : 📉 Emission Reductions: EU ETS has been instrumental in driving down emissions power and industry by over 37% since 2005. Yet, more reductions are needed to meet the European Climate Law targets. 🔋 Energy Crisis Impact: The surge in coal usage due to the gas price hike in 2022 has been a setback. However, manufacturing cuts helped reduce overall ETS emissions. ⚖️ Compliance: With a compliance rate of over 99%, the EU ETS exemplifies regulatory efficiency. Nonetheless, the system isn't without its challenges, including non-compliance fines totaling EUR 65.6 million in 2022. 🚢 Inclusion of Maritime Sector: The EU ETS will extend to maritime transport from 2024, marking a significant step in encompassing more sectors under its scope. 🏘️ ETS2: The upcoming #ETS2 will bring #buildings, road #transport, and small-emitting industries into the fold from 2027, presenting both opportunities and challenges for carbon pricing. This expansion brings some complex challenges: 1️⃣ Social Impact: ETS2 will affect everyday life, particularly for lower-income households. The Social Climate Fund aims to cushion this impact, ensuring a just transition. 2️⃣ Market Stability: Balancing allowance demand and maintaining a stable carbon price amidst the expansion will be crucial for long-term decarbonization goals. 3️⃣ Sectoral Integration: The diverse nature of new sectors requires a nuanced approach to ensure effective emission reductions without disrupting the market. 4️⃣ Funding Efficiency: The allocation of funds from ETS2 revenue must be strategic, supporting innovation and the broader green transition. 🔗 Policy Synergy: The EU ETS's carbon pricing is set to work in tandem with energy efficiency measures, highlighting the need for integrated policy frameworks. ETS2 must align with other EU initiatives, like the Energy Efficiency Directive and the REPowerEU plan, to create a cohesive climate action framework. ⚙ Technical Readiness: Upgrading IT systems and administrative processes will be vital to manage the increased scope and complexity of EU 🎯💡 The EU ETS and the forthcoming ETS2 are more than just carbon pricing mechanisms - they are the financial and policy engines aims to drive Europe towards a sustainable and equitable energy future. As we navigate the complexities of expanding the EU ETS(s), these insights underscore the importance of innovation, compliance, and social fairness towards climate neutrality. #EUETS #ETS2 #ClimateAction #Sustainability #EnergyCrisis #CarbonPricing #EUGreenDeal #Fitfor55 #KOBiZE #IOSPIB

Last February 20, EU decision-makers reached a deal for a new Carbon Removal Certification Framework, a regulation for a voluntary carbon removals certification proposed by the EU. #crcf The #carbon #offsets industry celebrated this as a success: after a year going from scandal to scandal about this industry's practices, they very much needed a credibility boost for their deceptive business. Whichever way you look at it, in the current state of technology one cannot compensate for fossil emissions in the real world. They need to be reduced then stopped, and as fast as possible. This draft regulation is only the start in a long process, but a bad start. We've just published a short comment, see below - in very short: as it is today, it should be rejected. https://lnkd.in/dEGbWC7t Fern NGO Carbon Market Watch Green Finance Observatory Real Zero Europe Biofuelwatch Corporate Europe Observatory

Since the 1960s, the #oilindustry has opposed #government backing for #lowcarbon technologies such as #solarpanels, #electricvehicles and #heatpumps -- even as enormous #subsidies have supported its own polluting #businessmodel. #TradeAssociations #UnitedStatesOfAmerica #USA #Europe #Lawmakers #Innovation #FossilFuels #UniversityOfSussex #AmericanPetroleumInstitute #API #FuelsEurope #RenewableEnergy #CleanEnergy #CleanTechnologies #Funding #EnvironmentalLaws #SustainabilityMatters #GovernmentSubsidies #TaxCredits #EuropeanUnion #EU #InternationalMonetaryFund #IMF #Activism #BeyondFossilFuels #ClimateCrisis #GlobalOilCrisis #Oil #Gas #Coal #EnergySavingSolutions #Competition #EVs #CleanEnergySolutions #Lobbyists #OilAndGasIndustry #StoneAge #FuelEfficiency #AlternativeFuels #ClimateChange #ClimateAction #TransportAndEnvironment #TechNeutrality #CarbonNeutral #Activists #Investors #Governments #IEA #OilAndGasCompanies #CleanEnergyInvestments #ParisAgreement #COP28 #ClimateSummit #Ukraine #Profits #Shareholders #EmissionsReduction #NaturalGas #GreenhouseGasEmissions #GreenhouseGases #GHGs #CarbonCapture #CarbonStorage #Hydrogen #ClimateNeutrality #SustainableTechnology #SustainabilityMatters #Decarbonization #Aviation #MaritimeTransport #RoadTransport #NetZero #CO2 #CarbonDioxide #Environment #Climate #GreenTechnology #Gaslighting #Blockbuster #Netflix #StreamingVideo #VideoStreaming #ResearchMatters #JournalismMatters #TheGuardian

Critical vote reached by #EU on #COP28 position to end direct and indirect fossil fuel subsidies by 2025 at the latest. Despite constituting both a government and market failure, eliminating fossil fuel subsidies has been a key hurdle in recent COP negotiations. The International Monetary Fund estimates that there were $7 trillion in fossil fuel subsidies in 2022, with explicit subsidies more than doubling since 2020. We've been heading in the wrong direction. These subsidies are undermining our ability to effectively put a price on carbon and internalize externalities, a salient policy lever for achieving #netzerotransition . #policy #climatechange #climate #fossilfuels #subsidies #decarbonization #decarbonisation #sdgs #SDG13 #parisagreement #ESG #netzero #corporatesustainability #sustainability