News from World

tag: gas serra

02 February 2023

On "carbon credits" purchased by fashion brands to offset CO2

A joint investigation by the Guardian, Die Zeit and SourceMaterial found that more than 90% of offset credits sold to protect portions of the rainforest are "ghost credits" and do not represent true reductions in carbon dioxide emissions. Gucci reacts through the public response of the certifier Verra, who denies the investigation. Vogue Business reflection is that "Carbon credits are defective. For now they are still needed"

19 December 2022

The European Parliament and Member States have reached an agreement on the reform of the CO2 market and to reduce the impact of greenhouse gases

The agreement achieves the goal of reducing CO2 emissions by 55% by the end of the decade. A new Emissions Trading System (ETS) and a Social Climate Fund (SCF). Power generators and heavy polluters covered by the ETS will have to reduce their pollution by 62% by the end of the decade, 1% more than initially proposed by the European Commission. Waste will be covered by the scheme from 2028, with potential derogations until 2030. [EU reaches deal on critical climate policy after marathon talks – Politico]

21 November 2022

COP27: 1.5° climate target is dead but climate finance agreement allows us to focus again on cutting emissions

The COP27 conference agreed that rich nations will pay poorer ones compensation for the damage caused by climate change. That was seen as a breakthrough, but many nations were left frustrated by the lack of progress on cutting carbon emissions. The summit came close to collapse after host Egypt refused to allow discussion of phasing out fossil fuels, and European Union ministers threatened to walk out. More fights await: Not least over whether China, now the biggest greenhouse gas emitter, contributes to the fund. [UN climate summit ends in discord after agreeing help for poor nations (FT)] [Climate target of 1.5C died at COP27 – but hope must not – Guardian]

15 November 2022

Efforts to avoid catastrophic climate change are failing, as COP27 climate summit reports show. What it means for fashion

The world has no credible path to avoid climate catastrophe, and greenhouse gases will exceed agreed limits by 2030. Extreme weather, high temperatures and rising sea levels threaten raw material production, workers' rights, and supply chains. Some of the largest fashion manufacturing centers, including Bangladesh, India and Pakistan, are among the countries most vulnerable to climate deterioration [What Are Fashion's Climate Risks| BoF]

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24 August 2022

Energy and ecological transition: high-quality, reliable and comparable gauges are needed to avoid greenwashing

Climate change is transforming the global investment landscape, creating new risks and opportunities. For this it is important to know if a company's resources are physically vulnerable, the volume of greenhouse gases it emits and its plans to reduce emissions. @IMFNews proposes the Network for Greening the Financial System directory that assesses available climate data, identifies gaps and offers practical and concrete ways to fill these gaps. [Achieving Net-Zero Emissions Requires Closing a Data Deficit - IMF]

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