The Paris Agreement


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Non-state actors made a number of pledges and a call to action at the San Francisco summit. Image: Global Climate Action Summit

Global Climate Action Summit: Lack of government climate ambition balanced by non-state action

San Francisco's Global Climate Action Summit ended on 14 September with non-state actors sending a call to action to governments ahead of the crucial COP24 in December, while highlighting their pivotal role in reducing emissions and reaching climate targets.

The bank will track the technology shift needed to decarbonise the world's most carbon-heavy sectors in line with the Paris Agreement goals

ING to align £450bn investment portfolio with Paris Agreement goals

ING has revealed that it will work with the companies covered by its £456m ($600bn) green investment portfolio to help align their respective sustainability strategies with the aims of the Paris Agreement.

Bacardi, Molson Coors, L'Oreal and Kraft Heinz are among the 480 corporations aiming for science-based targets

Science-based targets driving corporate climate commitments to new heights

More than 130 corporates have committed to set science-based emissions reduction targets in line with the 2C trajectory outlined in the Paris Agreement this year, covering one-eighth of total market capitalisation.

The Climate Coach: Transport

It will take you twenty minutes to get there - depending on traffic. Not an unusual statement wherever you live. People design cities and communities and yet often it is people that seem to be least considered as most of the space for movement is taken up by cars, vans and lorries. Pedestrians are pushed to the side and cyclists must brave traffic with a risk for their lives.

Future gazing the role of the sustainability profession

It's a tricky thing, predicting the future. So, before looking forward let us reflect upon on what changes we've seen in the CRS profession over the last 20 years. There's no doubt we are a profession that is growing in maturity, and yet still evolving.

The report states that the commitments are

Emissions commitments from business and authorities 'insufficient’ to meet Paris goals

Even if the 2,175 companies and 8,419 cities, states and regions to have made emission-cutting commitments achieve their pledges in full, the result will not be sufficient to realise a 2C trajectory in line with the Paris Agreement.

The current carbon price in the EU is €18.28 - up more than threefold since May 2017

Report: EU carbon prices could hit €40 over next five years

European Union (EU) carbon prices could more than double to €40 per tonne between 2019 and 2023, spurring the transition away from coal power across the bloc.

Ball Corporation will work with suppliers and move to purchase more renewable power to achieve the targets

Ball Corporation commits to science-based targets tackling supply chain emissions

Global packaging firm Ball Corporation has set new science-based targets within the company's direct operations and across its supply chain to reduce its emissions intensity by 58% by 2030.

edie at 20: Despite the idiocy that is Brexit, we can do it

For edie's 20th anniversary, prominent environmental peer Lord Deben reflects on green policy, Brexit, carbon budgets and flat-earthers.

edie has listed four key areas of focus to help “move the date”

Earth Overshoot Day: How businesses can 'move the date' to create a sustainable future

Today (1 August) marks Earth Overshoot Day, the date when humanity consumes more from nature than the planet can renew in a year. The urgent need to "move to the date" back is clear and edie explains how businesses can help by reinvigorating approaches to corporate sustainability.

The likes of Green Party's Caroline Lucas, Lib Dem leader Vince Cable, Ed Davey and the Environmental Audit Committee’s chair Mary Creagh have backed the letter

More than 100 MPs back calls for net-zero emissions target

More than 100 MPs have now signed a letter calling on Prime Minister Theresa May to establish a net-zero emissions target for 2050.

edie at 20: How did sustainability become so business-critical?

edie's 20th anniversary as a sustainable business media brand is an ideal opportunity to remind ourselves of the past two decades of corporate sustainability, which have seen it evolve from an environmental add-on to a fundamental aspect of growth.

What's the business case for climate science?

Let's be honest, the transition to a low carbon economy is going to require some difficult and far-reaching change from most companies and sectors. But emerging leadership from the corporate world is showing that remodelling business strategies around climate science is already driving innovation, growth and other business benefits.

Aldi’s sustainability report updates progress towards a goal of reducing greenhouse gas emissions generated per m2 of sales floor by 30%

Aldi exploring emissions reduction goal aligned to Paris Agreement

The UK's fastest growing supermarket Aldi will align its future sustainability strategy "well below" the 2C target set by the Paris Agreement, the company's international managing director of corporate responsibility, Sven van den Boomen, has claimed.

The EU and China have emerged as leaders of the COP21 agreement Image: UNclimatechange

China, EU reaffirm Paris climate commitment, vow more cooperation

China and the European Union on Monday reaffirmed their commitment to the Paris climate change pact and called other signatories to do the same, saying action against rising global temperatures had become more important than ever.

The Climate Coach: Renewable Energy

I have a dream, of a society where children play safely outside in green, common areas, where there are no cars. People travel to work in electric powered trains, buses and through electric car share. They walk and cycle to school, to the local shop and to meet friends. A dream where renewable energy sources provide all the power we need - for heating, electricity and transport - in businesses as well as in homes.

Molson Coors is part of more than 400 corporations aiming for science-based targets

Molson Coors gets stamp of approval for science-based target

Multinational brewer Molson Coors has had its target of halving greenhouse gas (GHG) emissions from its operations by 2025 approved by the Science Based Targets Initiative (SBTi).

The Irish fossil fuel divestment bill was passed in the lower house of parliament on Thursday

Ireland becomes world's first country to divest from fossil fuels

The Republic of Ireland will become the world's first country to sell off its investments in fossil fuel companies, after a bill was passed with all-party support in the lower house of parliament.

The group of ten European mayors are part of a wider coalition of 9,000 cities worldwide, which have committed to reduce their greenhouse gas emissions by 40% by 2030

Mayors urge EU to aim for net-zero emissions by 2050

The mayors of ten major European cities -including Paris, London, Milan and Barcelona - have issued a joint call for the EU to achieve net-zero carbon emissions by 2050, in line with the Paris Agreement.

The document has been issued in the build up to the UN Climate Summit set to take place in September 2019 in New York to review the Paris Agreement commitments

UK among nations to pledge stronger climate ambition

The UK has joined 22 other countries in signing a pledge to explore the potential to step up their climate commitments before 2020 and calling for other nations to do the same.

CAN Europe said no single EU country is performing sufficiently well in both ambition and progress towards reducing carbon emissions

EU countries 'off target' on carbon emissions: report

Most European nations are set to miss their carbon reduction pledges made as part of the Paris Agreement, according to a new ranking of "good", "bad" and "ugly" countries published today (18 June) by Europe's leading NGO coalition on climate change.

The SBTi's overall aim is that, by 2020, science-based targets will become standard business practice

Ikea gets stamp of approval for 80% science-based emissions target

The Ikea Group has had its target of reducing greenhouse gas (GHG) emissions from its stores and operations by 80% by 2030 approved by the Science-Based Targets Initiative (SBTi).

It's time we embrace the fierce urgency of now

Jonathon Porritt recently provided the foreword to edie's flagship 2018 report for the Mission Possible campaign, which explores how businesses are scaling up effort and innovation across all areas of development to achieve a sustainable future.

“Together we believe that the full implementation of the Paris Agreement means much deeper emission cuts than currently planned,”

Businesses, NGOs make joint plea for higher EU ambition on climate change

A unique coalition of businesses and investors representing over €21 trillion in assets have joined forces with local authorities and civil society groups to urge EU leaders to accelerate the transition to a zero-carbon economy in order to keep global warming below 2°C.

The summit has failed to produce a climate agreement with President Trump for the second year running

Paris Agreement ‘G6’ formed as Trump skips climate meetings

As the G7 summit in Canada came to a close, leaders of the so-called "G6" nations reaffirmed their commitment to the Paris Agreement, while President Trump asserted that the US would instead prioritise energy security and economic growth over carbon reductions.

Ikea’s climate positive ambition aims to fulfil the retailer’s contribution to the Paris Agreement through an emissions reduction across the value chain that is aligned to climate science

Ikea to ban single-use plastics, targets 'climate-positive' status under new strategy

Removing all single-use plastics products from its range globally, eliminating more greenhouse gas emissions than its value chain emits, and generating more renewables than it consumes are all headline goals of Ikea's updated People and Planet Positive strategy.

Firms are encouraged to promote the aims across the supply chain by incentivising energy demand reductions and the uptake of renewable energy solutions

World Green Building Council calls for net-zero building sector by 2030

The World Green Building Council (WorldGBC) has called on the built environment sector to set ambitious targets that eliminate carbon emissions for building portfolios by 2030, in order to meet the targets of the Paris Agreement.

The report highlights that Europe is primed to embrace a new circular economy, with EU industrial emissions potentially reduced by 56% by 2050

Report: Circular economy a 'powerful force' to meeting Paris Agreement goals

Circular business models and greater material efficiency of products in the transport and built environment sectors could reduce emissions by 3.6 billion tonnes annually - putting the globe on course to meet the targets of the Paris Agreement.

The findings suggest that a rapid decline in fossil fuel demand is no longer dependent on stronger policies

'Carbon bubble' could spark global financial crisis, study warns

Plunging prices for renewable energy and rapidly increasing investment in low-carbon technologies could leave fossil fuel companies with trillions in stranded assets and spark a global financial crisis, a new study has found.

G7 governments provided at least $80.62bn in fiscal support and $19.54bn in public finance for fossil fuels in 2015 and 2016

G7 countries pour $100bn a year into oil, gas and coal: study

Each year, at least $100bn goes to support the production and consumption of oil, gas and coal, according to a major new study published on Monday (4 June). That is despite a promise from all G7 and G20 members to stop subsidising fossil fuels by 2025.

Cheshire claimed that sustainability issues would be dealt with as nationally and globally “important” post-Brexit

Does Brexit offer the chance for UK to push climate action to new heights?

Despite mounting fears over the potential threats Brexit poses to the UK's green economy, industry leaders have claimed that leaving the EU could provide the nation with opportunities to innovate in order to remain a global leader in the sustainability sphere.

IRENA has previously predicted that renewables will be cost competitive with fossil fuels by 2020

Why now is the time for corporates to set long-term targets for renewables

A new report from the International Renewable Energy Agency (IRENA) found that corporates have actively sourced renewable energy equivalent to the overall demand of France, but renewables demand could soar if companies turned voluntary agreements into active goals.

UK insurers Aviva and Legal & General claimed second and fourth place respectively

UK insurers lead the ranks for climate action

UK insurance companies Aviva and Legal & General have taken two of the top four spots in a ranking of global insurers on their climate strategies, but globally the sector is struggling to set climate targets in line with the Paris Agreement.

The chain’s 2030 strategy also includes pledges to halve waste and water consumption levels

Hilton to halve environmental impact, starting with plastic straw ban

Global hospitality firm Hilton has unveiled a number of new sustainability ambitions that has seen it become the first in its sector to set an approved science-based target, alongside goals to halve water use and waste and remove plastic straws from its estate by the end of the year.

Lewis said that scaling up seasonal storage was “the last piece of the jigsaw”

Energy storage revolution within 10 years is essential, says E.ON boss

EXCLUSIVE: E.ON chief executive Michael Lewis has claimed that an energy storage revolution must happen within a decade if the world is to meet the Paris Agreement goals.

The LDC group voiced frustrations over having to adapt to a changing climate, all while striving to lift their people out of poverty

Developing nations call for 'urgent' action to develop Paris Agreement rulebook

A network of some of the least developed countries in the world has called on developed economies to turn "concepts into action" by accelerating the implementation of a 'rule book' for the Paris Agreement through increased climate finance.

So far, 16 insurers have divested an estimated €22bn from coal companies

Allianz pledges to stop insuring coal plants as pressure mounts on insurance industry

Financial services firm Allianz has set a target to eliminate its insurance coverage for coal, amid heightened pressure on the industry to end its support for the fossil fuel.

Poland, this year’s host of the COP climate conference, continues to rely heavily on coal and is alone in the EU planning expansion

Most countries failing on Paris Agreement pledges, report warns

Many governments are not on course to meet their Paris Agreement commitments, according to a damning new report which shows a host of countries across the globe are not yet willing or able to phase out coal.

Jean-Claude Juncker, President of the European Commission, presents the EU’s post-2020 long-term budget proposals [© European Union, 2018 / Source: EC - Audiovisual Service]

EU proposes 25% 'climate quota' in new long-term budget

The clean energy transition and other initiatives to decarbonise Europe's economy will represent 25% of EU spending under a seven-year EU budget plan put forward by the European Commission on Wednesday (2 May).

In addition, governments announced the establishment of a Commonwealth Blue Charter led by the UK and Vanuatu, image: Michael Garnett/Flickr

Commonwealth to 'pursue' 1.5C Paris goal

The 53 member states of the Commonwealth have agreed to renew commitments to the Paris Agreement that would "pursue" efforts to limit temperature increase to 1.5 degrees Celsius above pre-industrial levels.

Developed with assistance from the Carbon Trust, the emissions targets are aligned to the goals of the Paris Agreement

Whitbread sets science-based target to halve emissions intensity

The UK's largest hospitality company Whitbread, has pledged to halve emissions in the next seven years as part of an "industry-leading" science-based target.

Under the global Paris agreement, countries have committed to curbing temperature rises to “well below” 2C above pre-industrial levels and to pursue efforts to keep them to 1.5C

UK to review climate target raising hopes of a zero emissions pledge

The UK is to review its long-term target to cut climate emissions as part of global efforts to curb rising temperatures, the government has announced.

More than 370 businesses have joined the Science Based Targets initiative since its launch in 2015

More than 100 corporates have science-based targets approved

L'Oréal and Electrolux are among the latest businesses to have their emission reduction goals approved by the Science Based Targets initiative (SBTi).

London Stock Exchange Group sustainability manager Sara Lovisolo says the technical work behind the opportunities offered by climate action is weaker than measuring mitigation

Climate change mitigation should be viewed as business opportunity, says London Stock Exchange

Businesses and investors should focus more on measuring and reporting the positive impacts of sustainability efforts rather than purely analysing the risks posed by climate change, according to the sustainability manager of the London Stock Exchange Group.

The report says that while the UK has maintained a consensus on the need for action on climate change, buy-in across government departments is “too uneven”

Report: zero emissions target needed to push UK beyond Paris Agreement

The government should publish a target by 2020 for achieving "net zero" emissions, according to a new report.

According to a report by the European Parliament, the shipping industry could contribute up to 17% of global CO2 emissions by 2050 if left unregulated

International Maritime Organisation 'too slow' on emissions strategy

The International Maritime Organisation has moved too slowly on drafting its greenhouse gas strategy and reducing emissions from shipping, Transparency International has warned, urging the global shipping regulator to improve its governance, transparency and efficiency.

NatWest purchases 100% of its energy from renewable sources

NatWest delivers £3.5bn low-carbon lending in three years

Banking giant NatWest has pledged to deliver of £10bn lending to UK renewable energy and energy efficiency projects by 2020, having provided £3.5bn over the past three years.

The company had already announced that by 2025, 100% of its guest packaging will come from recycled, renewable or certified sources

McDonald's to reduce emissions by a third under approved science-based targets

McDonald's has become the first global restaurant company to have an emissions reduction target approved by the Science-Based Target Initiative (SBTI), as the fast food giant outlines plans to reduce carbon emissions by 150 million tonnes.

The path to public-sector sustainability is paved with good intentions

As part of edie's latest sector insight report, the Carbon Trust's managing director for programmes and cities Richard Rugg charts the progress being made across the sector towards a sustainable future.

Private investors will be exposed to 88% of the spending on unnecessary fossil fuel projects under this prediction

Climate policies place $1.6trn fossil fuel costs at risk, report warns

Fossil fuel companies are exposed to $1.6trn in potential expenditure by basing business decisions on existing policies rather than international climate goals, while businesses committed to sourcing 100% renewable electricity will require $94bn to reach their goals.

Water bills on the archipelago have surged recently due to more frequent droughts and storms, while warming waters have brought seasonal jellyfish plagues and degraded marine ecosystems

Balearics launch pioneering plan to phase out emissions

The Balearic islands' government has launched a pioneering plan to phase out greenhouse gas emissions by 2050, potentially setting itself on a collision course with the Spanish government.

8 global sustainability trends to watch out for in 2018

Over the past 12 months, challenges around addressing sustainability issues have featured consistently in global headlines. Despite mixed political messages about our transition to a low-carbon future, the private sector has continued to drive sustainability up the business agenda; from Science Based Targets (SBTs) and Sustainable Development Goals (SDGs) to increased investor scrutiny over non-financial reporting.

Last year, Ørsted completely divested its upstream oil and gas business, as part of the pledge to phase-out coal from its heat and power generation by 2023

Ørsted chief calls for 'high pace' climate and SDG action

Danish energy giant Ørsted's chief executive has highlighted the severe threats of climate change and the unique opportunities of the Sustainable Development Goals (SDGs) in the company's latest sustainability report, which outlined the company's transition away from fossil fuels.

There is a strong uptake for corporate power purchase agreements (PPAs) in the US but growth in Europe has been far slower, according to a new report. [Walmart / Flickr]

Businesses accelerate progress towards 100% renewables

Renewables are becoming the energy source of choice for corporate electricity users, according to a new report by The Climate Group published in Davos on Tuesday (23 January), which shows a growing number of multinationals lining up to meet 100% of their power needs from green power.

Introducing the Climate Coaching Blog Series

Climate change is the most pressing and critical challenge humanity has faced in its history. We don't have the time to rely on regulators to pass appropriate climate mitigation and adaption legislation. Climate action from across all industry sectors, whatever the size of organisation is essential, required and indeed increasingly demanded by customers and consumers. To address this, I am writing a sequence of blogs called the Climate Coaching Series, here on edie.net, where I will be exploring climate action and answering the questions of what organisations can do to benefit people, profit and planet.

The power purchase agreement means that Nike is now more than half way to its commitment of sourcing 100% renewable energy across owned and operated facilities worldwide

Nike goes 100% renewable across North America

Sportswear giant Nike is now more than half way towards its pledge to source 100% renewable energy globally, after signing a power purchase agreement with a Texan windfarm that will make the company's entire North American operations completely powered by renewables.

Sustainability leaders: hurry up!

Still time to book for the Sustainability Leaders Forum.

Rising populations and increased wealth in non-OECD nations will drive energy demand, which will offset emission reductions

Report: Global emissions to plateau in 2030, but Paris goals out of reach

New insight from business advisors McKinsey Energy Insights has suggested that "major shifts" in the energy landscape driven by renewables and electric vehicles (EVs) will see global emissions plateau in 2030, but progress is nowhere near close to the 2 degrees Paris Agreement target.

2017 green policy review: A year of progress and pleasant surprises

What a difference a year makes. Let us briefly cast our minds back to the halcyon days of January 2017 - who would have thought that a widely-ridiculed Jeremy Corbyn would soon become favourite to be the next PM; that a divorced mixed-raced American actress would be about to enter the Royal Family, or that a vastly experienced England cricket team would succumb to a humiliating Ashes defeat Down Under before the Boxing Day test?

New opportunities for climate leadership in 2018

Cities and companies have raised the bar in tackling climate change this year - there are new opportunities for leadership in 2018.

SDGs and materiality: Let’s step it up in 2018

Why Simply Sustainable recommends to its clients that they include SDG mapping in their materiality assessments.

Commercial banks are also igniting signals that funding for fossil fuels with soon be a thing of the past

World Bank, major businesses and nations unite against coal funding

The One Planet Summit in Paris has signalled the beginning of the end for the coal industry, after the World Bank, numerous financial institutions and a group of nations and major businesses all pledged to phase out fossil fuel funding and use.

The One Planet Summit is being hosted at La Seine Musicale in Paris

EU announces €9bn in funding for climate action

The European commission has announced funding of €9bn (£8bn) for action on climate change, one of a flurry of measures from governments, businesses and investors aimed at achieving the goals of the 2015 Paris agreement.

The white paper suggests that companies implement an internal “shadow price” – similar to an internal price on carbon - to account for future costs of meat

Meat tax 'increasingly probable' to help combat climate change

Investors have claimed that the implementation of the Paris Agreement will lead to some governments introducing a "livestock levy" that cuts meat consumption from diets, in a move than could avoid up to $600bn in climate damages by 2050.

Companies can be removed from the list if they have made significant improvements

Climate Action 100+: New investor initiative targets top 100 corporate emitters

More than 200 of the most influential investor institutions, with more than $26.3trn in assets under management, have today (12 December) launched a new global initiative to help the 100 largest corporate emitters reduce value chain carbon footprints.

The statement calls on G20 nations to lead the transformation by “initiating and implementing” and “global paradigm shift” on an energy transition

Global companies call on nations to push for 'well-below' 2C Paris target

More than 50 global companies including Unilever, M&S and Adidas have called on nations meeting in Paris to discuss climate progress, to phase-out fossil fuel subsidies by 2025 and create the framework to limit global warming increases to well below 2C.

Xerox committed to the SBTI before the Paris Agreement was even agreed or ratified

Xerox aiming for verified science-based target for 2018

EXCLUSIVE: Printing services company Xerox intends to have a verified science-based target in place when it launches new sustainability goals in 2018, as part of a commitment to the Paris Agreement that has been years in the making.

One of Baroness Brown's major concerns regarding the strategy is its so-called “flexibility” mechanisms, which enable the Government to borrow from

Clean Growth Strategy 'flexibilities' could put Paris goals at risk

The aspirations of the Clean Growth Strategy have been praised as a "step in the right direction" by green economy experts, but concerns have been raised that the Government's willingness to rely on banking and borrowing from carbon budgets could put the goals of the Paris Agreement at risk.

The key business takeaways from COP23

So, COP 23 has come and gone, with little attention in the media. Expectations were for a technically focused meeting, working through some of the detail needed to bring the Paris agreement to life. Does this mean that there was little in it of business interest? Far from it, there were some important outcomes that provide real opportunities for business leadership. Here are my key takeaways.

Developed countries had pledged to raise $100 billion each year in climate finance for developing countries by 2020. However, as of September 2017, governments had pledged $10.3 billion

Climate finance, the sticking point in COP23

Rich countries had pledged to raise $100 billion each year in climate finance for developing countries by 2020. As of September 2017, they had pledged just $10.3 billion. And the question of who should pay remains unanswered.

edie has rounded-up the main highlights from the second week at COP23 Bonn climate summit

What went on in Bonn: COP23 week two round-up

The second week of climate talks in Bonn came to a conclusion today (17 November), following a raft of new global alliances and climate pledges building momentum for the transition to a low-carbon future.

Microsoft set its first ever carbon emissions target in 2009, aiming for a 30% reduction

Microsoft shoots for Paris Agreement with 75% emissions reduction goal

Microsoft has pledged to reduce greenhouse gas emissions by 75% by 2030, in a move that will align the technology company's decarbonisation strategy with the 2C pathway target of the Paris Agreement.

Holyrood, Scotland. The country is cited as making great progress and being on track to meet its climate goals

Reports show businesses and regional governments making strong climate progress

As climate talks at Bonn enter the second week, two separate reports have detailed the progress of non-state actors including businesses, states and regions to reduce CO2 emissions in line with the Paris Agreement.

In the past five days at Bonn, influential and international businesses from a wide range of sectors have committed to shape a clean economy

What went on in Bonn: COP23 week one round-up

An action-packed first week of international climate talks in Germany has come to an end, with a plethora of strong declarations and corporate commitments signifying a resolute collective intent to stick the path of the Paris Agreement.

US representatives have still travelled to the latest round of climate negotiations in Bonn for COP23

US isolated as Syria signs the Paris Agreement

The US, the world's second largest emitter, is "out in the cold" as the only nation outside of the Paris Agreement on climate change, after Syria became the latest and last signatory to the global accord.

Businesses are also pushing to provide input into the Facilitative Dialogue, which outlines what increased ambitions will be issued as part of the next round of NDCs. Image: BMUB

Carbon price among policy wishlist issued by businesses at COP23

Members of the World Business Council for Sustainable Development (WBCSD), including the chief executives of more than 200 international businesses, have called for governments to collaborate with the private sector to set meaningful carbon prices and improve climate resilience.

Sustainability professionals will be keeping a close eye on developments in Germany in the next two weeks. Photo: UNclimatechange

COP23: What does the Bonn climate summit mean for sustainability professionals?

As delegates from almost every nation arrive in Bonn to discuss the ways to prevent rising global temperatures from reaching catastrophic levels, edie takes a closer look at how developments at the UN climate summit could affect sustainability teams and their efforts to accelerate the shift towards low-carbon, resource-efficient business models.

HSBC will provide $100bn in climate finance, alongside a goal to source 100% renewable electricity by 2030. Image: HSBC

HSBC pledges $100bn to sustainable finance

As Bloomberg New Energy Finance (BNEF) releases findings showing that energy investment in emerging markets suffered its largest year-on-year decline, HSBC has pledged to provide $100bn in sustainable financing by 2025 - as part of a new batch of climate-related commitments.

How business can help halt the rise in global emissions

There's been a lot of media coverage over the past week about rising levels of CO2 and the likely impacts, despite international efforts to cut greenhouse gases.

The world is still reportedly investing over three times more in fossil fuels than renewables

High street banks still financing fossil fuel growth

The UK's high street banks are profiting from some of the world's dirtiest fossil fuel projects despite committing to deliver the Paris Agreement goals of limiting global warming to below 2C.

The IFC report, entitled Creating Markets for Climate Business, found that governments could work with businesses by fostering renewable energy as an alternative to fossil fuels

Huge private sector investment puts Paris climate target in reach, says report

At least one trillion dollars are being invested globally in ways to reduce the threat of climate change, including renewable power, energy efficiency, and public transport around the world.

The report comes less than a week before delegates from almost 200 nations descend on the German city of Bonn to work on a detailed “rule book” for the Paris Agreement

Just 30% of top 250 firms have strong goals to curb emissions, research finds

Researchers have warned that only 30% of the world's top 250 listed companies have set strong goals to curb global warming, despite the group accounting for a third of all carbon emissions.

Not a single developed country has outlined a detailed plan to tackle livestock emissions as part of an Intended Nationally Determined Contribution (INDC) to the Paris Agreement

Put 'cows alongside cars' at COP23, investors urge

With COP23 set to start in Bonn next week, an investor network is calling on developed countries to prioritise the "elephant in the room" at the UN talks, by tackling livestock sector emissions.

The UN is calling for rapid technology investments in key sectors such as agriculture, buildings, energy, forestry, industry and transport

UN: World must act now to close 'unacceptable' emissions gap

As figures show that levels of CO2 in the atmosphere increased at record speed last year, a stark UN report has warned that there is an "unacceptable" gap between national pledges and the emissions reductions required to meet the Paris Agreement's climate targets.

The decarbonisation rate of the G20 is short of the 3% average rate required to reach national pledges to the Paris Agreement

G20 falls behind on national decarbonisation pledges

The UK is "strongly outperforming" the rest of G20 in decoupling emissions from economic growth, but businesses and governments have been warned that the goals of the Paris Agreement won't be achieved with current decarbonisation ambitions.

In total 151 of the sampled companies have committed to the SBTI, compared to 94 last year

CDP: Science-based targets needed to 'pick up the pace' on corporate action

Emissions targets from large corporates are around one-third of the way to bringing the private sector on a trajectory to keep global warming below 2C, highlighting the need for more science-based targets, new analysis from CDP has found.

The Carbon Trust's Hugh Jones outlines the climate impact that a 0.5C difference can make

Aim Higher: Business can 'pioneer' climate agenda by targeting 1.5C pathway

Government and business commitments to align practices with a 1.5C pathway are "practically non-existent", but companies have the chance to become "true pioneers" of the climate movement by raising ambitions, a new report from the Carbon Trust claims.

European lawmakers are exerting more political pressure as a number of important pieces of legislation make their way through various parts of the Brussels policymaking machine

MEPs urge EU to ratchet up climate ambitions ahead of UN summits

The European Parliament on Wednesday (3 October) backed a resolution that calls on the EU to increase its 2030 climate targets and to come up with a mid-century zero-emissions strategy before an all-important UN summit in 2018.

Christiana Figueres recently launched the Mission 2020 campaign with an aim to

Christiana Figueres: Corporate leadership on climate change set to hit critical mass

Former UN climate change chief Christiana Figueres has expressed confidence that the amount of businesses taking a leading stance on the Paris Agreement goals will hit critical mass "pretty soon".

European Commissioner Miguel Arias Cañete is understood to be preparing to launch a public consultation with a view to updating the EU's low-carbon economy roadmap in 2018

EU to aim for 100% emission cuts in new 'mid-century roadmap'

The European Commission is preparing an update of its low-carbon economy roadmap for 2050, acknowledging that the bloc's current target of cutting greenhouse gas emissions at least 80% by mid-century are insufficient, edie's content partner EurActiv.com has learned.

The Lib Dems have launched a report that warns the UK is not on track to meet the goals of the Paris Agreement, which aims to limit global warming to 1.5C

Lib Dems propose 'carbon-free' Britain by 2050

The Liberal Democrats have urged the Government to bring forward the UK's climate targets by a decade as a new report suggests that the country is on course to miss the Paris Agreement objectives.

If fully implemented, then current pledges would see US greenhouse gas (GHG) emissions fall by up to 14% below 2005 levels by 2025, according to the research

Report: Existing business pledges keep US on track with Paris goals

The action of US states, cities and businesses could "significantly mitigate" the impact of the US decision to withdraw from the Paris Agreement, according to new research.

The investors are seeking information on how banks and senior executives are managing climate-related risks and opportunities

Investors implore banking firms to champion climate disclosure

More than 100 investors with $1.8trn under management have written to the chief executives of 60 of the world's largest banks, including HSBC and Bank of America, calling for better disclosure and implementation on climate risks in their investment portfolios.

Why businesses need to get serious about sustainable buildings

It will be months, possibly years, before the full extent of damage from Hurricane Irma is fully understood, let alone repaired. It reminds me of the sense of despair shared in a lecture I attended by one of the key architects of the multi-trillion-dollar recovery of New Orleans post Katrina. He spoke of it like it was a tale of many disasters, all of which pointed back to climate change.

To meet its new target, BT will seek innovative ways to reduce its dependency on fossil fuels, and is exploring the adoption of low-carbon vehicles into its fleet

BT sets 87% carbon reduction target to help meet Paris Agreement goals

After reaching a carbon target four years ahead of schedule, BT is setting itself on the path to help limit global warming to 1.5C through a new science-based target to reduce emissions by 87% by 2030 against a 2016/17 baseline.

For Rabinovitch, science-based targets helped to strengthen the business case for the new sustainability strategy

Building the story: How Mars got boardroom buy-in for its $1bn sustainability strategy

As Mars unveils a new corporate strategy to reduce emissions by 67% by 2050, edie's senior reporter Matt Mace speaks to the company's global director of sustainability Kevin Rabinovitch, to discuss how his team secured a $1bn backing from the company's chief executive.

DNV GL predicts that the first “emission-free” year will only occur in 2090

World set to exhaust carbon budget in 2040s, despite predicted energy plateau

A "watershed moment in human history" will occur in 2030 as energy demand plateaus, although the rapid decarbonisation of the global energy supply will still deplete the carbon budget for the goals of the Paris Agreement by 2041.

Direct air capture technology filters carbon out of the air and uses it to grow plantlife, which will result in negative carbon emissions

Global warming unstoppable without geo-engineering, says study

The international community has already missed its chance to limit global warming to between 1.5 and 2 degrees Celsius, according to a new study by Switzerland-based researchers. But a solution to the problem could lie in geo-engineering technologies.

Al Gore's film, An Inconvenient Truth, won an Oscar and helped make Gore co-winner of the Nobel peace prize in 2007

Al Gore: Trump has failed to knock Paris climate deal off course

Donald Trump has failed to knock the Paris climate agreement off course despite his efforts to derail it, according to the former US vice president Al Gore.


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