Climate Detox’s Post

A recent article from BloombergNEF discusses how climate policy progress among G20 members has stalled. Despite commitments to reduce greenhouse gas emissions, many countries are falling short of their targets. Factors such as economic priorities and political challenges are hindering effective action on climate change. The world's largest economies in the annual edition of BloombergNEF’s G-20 Zero-Carbon Policy Scoreboard scored 49% on average, which is only a 1 percentage point rise from 2023. Top leaders like the UK, US and EU even saw a decline of 1% on average. Developed countries are responsible for 18% of global emissions and should aim to set an example for the rest of the world. World leaders must phase out fossil fuels and reduce their carbon emissions to save our planet. Take a look at our Solutions Roadmap, and find out more about the solutions to climate change here: https://lnkd.in/eu6MkaRe #BloombergNEF #Emissions #GreenHouseGasses #ClimateChange

My take on New York Climate Week so far: 🌡️ Urgency amplified: Record-breaking temperatures and wildfires have shifted the tone from 'stubborn optimism' to an imperative for immediate action. 💼 Voluntary Carbon Markets (VCM) in spotlight: First-ever dedicated VCM day and Biden administration's endorsement signal growing importance, despite lingering scepticism about efficacy. 🏭 Fossil fuel reality check: John Kerry's stark warning on countries failing to deliver on phase-out promises sets a challenging tone for COP29. 💰 Climate finance frustration mounts: Developing nations urgently call for access to funds, highlighting the need for a new, more ambitious global finance target. 🤝 Collaboration intensifies: Cross-sector partnerships emerge as the new norm for tackling complex climate challenges, with governments, businesses, and NGOs aligning efforts. 🌿 Renewables as unifying goal: Focus shifts to tripling global capacity by 2030, potentially changing the narrative from fossil fuel phase-out to clean energy scale-up. The message is that the coming years are critical. Success hinges on translating this week's heightened urgency into tangible actions, balancing climate imperatives with economic realities and geopolitical tensions. The true test lies in proving that climate leadership and prosperity can coexist in a rapidly changing world. #NewYorkClimateWeek #ClimateChange #SustainabilityCommunications

As COP29 has drawn to a close, here are some reflections from the meetings I had the opportunity to attend. Hoping to leverage these thought-provoking insights as we uphold our efforts in forging a more hopeful and sustainable future for all. 𝗖𝗮𝗿𝗮’𝘀 𝗞𝗲𝘆 𝗧𝗮𝗸𝗲𝗮𝘄𝗮𝘆𝘀 - 14th November 2024 (1) Credible net-zero action demands enforceable standards that bridge voluntary commitments with robust regulation. (2) Equitable and transparent financing mechanisms are critical to addressing global climate vulnerabilities and achieving the Paris Agreement’s goals. (3) Food systems transformation must centre marginalized communities, leveraging their knowledge and needs to ensure sustainability and equity. (4) Multilateral collaboration and innovative financing are pivotal to achieving global climate goals and ensuring equity in climate transitions. (5) Addressing climate injustice requires prioritising displaced communities in global funding and decision-making frameworks. (6) Accelerating climate action requires innovative financing and integrated solutions tailored to regional and national contexts. (7) Community-centric adaptation initiatives are vital for addressing the unique challenges of climate-vulnerable nations like Tuvalu. (8) Regional collaboration and tailored financial instruments are essential to overcoming investment barriers and advancing climate resilience in the Mediterranean.

“...if you don’t get the standards right, you leave too much risk on the table for investment to flow.” 🙌 A big thank you to Nigel Topping, CMG for highlighting the crucial role of standards in helping countries turn climate commitments into meaningful action. To bridge the gap between ambition and reality, we need clear, sector-specific policies that inspire confidence and unlock investment. But here’s the catch – policies only gain traction when supported by consistent standards across economies. Without this alignment, we risk undermining the much-needed investment that drive climate solutions forward. #Sustainability #ClimateAction #Investment #Standards #COP29 #ClimateCommitments

The world’s largest economies have made limited progress in boosting their decarbonization policies over the past year – a red flag for climate action as the urgency of the crisis ramps up. 📖 Check out the fourth annual edition of BloombergNEF’s G-20 Zero-Carbon Policy Scoreboard. Read more and get your copy here: https://bloom.bg/3PY0XZE #Sustainability #ClimateAction #BloombergNEF

The world’s largest economies have made limited progress in boosting their decarbonization policies over the past year – a red flag for climate action as the urgency of the crisis ramps up. 📖 Check out the fourth annual edition of BloombergNEF’s G-20 Zero-Carbon Policy Scoreboard. Read more and get your copy here: https://bloom.bg/3Jmj3kg #Sustainability #ClimateAction #BloombergNEF

The world’s largest economies have made limited progress in boosting their decarbonization policies over the past year – a red flag for climate action as the urgency of the crisis ramps up. 📖 Check out the fourth annual edition of BloombergNEF’s G-20 Zero-Carbon Policy Scoreboard. Read more and get your copy here: https://bloom.bg/4aSLr9s #Sustainability #ClimateAction #BloombergNEF

The world’s largest economies have made limited progress in boosting their decarbonization policies over the past year – a red flag for climate action as the urgency of the crisis ramps up. 📖 Check out the fourth annual edition of BloombergNEF’s G-20 Zero-Carbon Policy Scoreboard. Read more and get your copy here: https://bloom.bg/3W99xsl #Sustainability #ClimateAction #BloombergNEF

Day 1️⃣7️⃣ of a Climate Christmas Carol: Global developments in 2024 As 2024 draws to a close the climate policy landscape is facing pivotal changes. From global agreements to national efforts, here’s an overview of key updates and priorities that have shaped the future of climate action this year: 1️⃣ National Climate Plans need a major overhaul The latest UN Climate Change (UNFCCC) report highlights that current Nationally Determined Contributions (NDCs) collectively fall short of the ambition needed to keep global temperature rise below 1.5°C. If implemented as they are, emissions in 2030 would only be 2.6% lower than 2019 levels, far from the 43% reduction required by 2030 to limit warming. 2️⃣ COP29: A missed opportunity? Following the aftermath of COP29 where climate adaptation financing was a top priority, only a small amount of progress was made towards gaining the buy-in required to support developing nations. A target of $300bn annually by 2035 was agreed for developing nations, well short of the $1.3tn that is actually required - https://lnkd.in/e8SQFXXh 3️⃣ Advances in policy frameworks Encouraging developments include developing the Loss and Damage Fund and the focus on carbon removal technologies, which will be highlighted in forthcoming IPCC reports during its seventh assessment cycle. These frameworks aim to better integrate mitigation and adaptation priorities, while supporting vulnerable populations - https://lnkd.in/eb--RECH 4️⃣ The Private Sector’s Role Governments alone cannot bridge the climate finance gap. Incentivising private investment through mechanisms like public guarantees, local market development, and trust in international cooperation is seen as essential to unlocking much-needed resources. 💡 What’s Next? There are significant challenges ahead, but so are the opportunities. Governments, businesses, and individuals all play a part in driving forward the policies and actions needed to safeguard the planet. 💬 How do you see the role of private investment and innovation in closing the gaps in climate finance and action? #climatechristmascarol #climate #policy #advocacy

The world’s largest economies have made limited progress in boosting their decarbonization policies over the past year – a red flag for climate action as the urgency of the crisis ramps up. 📖 Check out the fourth annual edition of BloombergNEF’s G-20 Zero-Carbon Policy Scoreboard. Read more and get your copy here: https://bloom.bg/3xv4wjA #Sustainability #ClimateAction #BloombergNEF