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G20 finance breakthrough?

As the secretary general of the UN Antonio Guterres touched down in Rio de Janeiro for the G20 leaders meeting last night, his mind was back in Baku. “I am concerned about the state of the negotiations at COP29 in Baku”, he told a Brazilian press conference.

He’s right to be. Progress on the post-2025 New Collective Quantified Finance (NCQG) goal has been slow and the ministers arriving today have a lot of work to do.

But a Reuters report boosted hopes for a breakthrough, as it said negotiators of the G20 communique “agreed to a text mentioning developing nations’ voluntary contributions to climate finance, stopping short of calling them obligations, according to two diplomats”.

If that’s agreed by world leaders in Brazil, climate ministers in Baku won’t go against it. That could unlock bigger numbers in the NCQG, as developed countries say this expanding of the contributor base is a condition of them raising their climate finance promise above $100 billion.

We will learn more in a few hours at a public plenary meeting for all negotiators and a press conference from Azerbaijan’s presidency.

Fossil fuel transition talks collapse

Late on Saturday, when many COP29 delegates were letting their hair down after a long week, negotiators rowed openly over whether discussions on emissions-cutting should continue into the next week or be postponed.

A coalition of developed countries, small islands, the least developed countries and some Latin American nations want to use a channel of talks called the Mitigation Work Programme to take forward last year’s commitment to transition away from fossil fuels.

They wanted to set up an emissions-cutting “ facilitation process and platform” and “urge” governments to do things like stop building new coal-fired power plants, phase out (not just the previously agreed phase down) coal.

They wanted to set numerical targets for reducing methane emissions, deforestation and increasing energy storage and improving grids to enable the roll-out of renewable energy.

But, speaking in Saturday night’s plenary, Saudi Arabia said this was an attempt at “eroding the flexibility developing countries depend on” and that there should be no new targets or goals. Andreas Seiber, associate director of policy and campaigns 350.org, said Saudi Arabia just wants to be as “unconstructive as they can be when it comes to fossil fuels” and is “happy to be destructive”. 

Bolivia, speaking on behalf of the LMDC group which includes China, also rejected “targets and outlandish proposals”. Iran and India supported this, with India saying that these talks’ conclusions were supposed to be “non prescriptive”.

Kenya, on behalf of the African Group, said that these talks should not be used as a “placeholder” for implementing the COP28 agreement or a “platform for setting targets”. Last week, the Kenyan chair of the group, Ali Mohammed, told Climate Home “there are attempts by other partners to impose new requirements which we are not comfortable with” 

With governments divided over the very purpose of the talks, co-chairs suggested not continuing them into the second week and delaying them for six months until the annual climate talks in the German city of Bonn, scrapping all the work done in week one.

But the coalition of developed, vulnerable and Latin American countries opposed this. New Zealand said a delay “does not support action in this critical decade”, Switzerland said talks had been held up by a “select few” and Mexico said that the world is currently “not doing enough” so talks must continue.

After these speeches, the talks’ co-chairs and their advisers huddled around to discuss for a minute and decided that – despite more than 15 countries speaking for it – there was no consensus to continue talks so they would end.

The only hope for progress at COP29 on these issues now is if the COP29 Presidency is persuaded to produce a cover text. This would be a high-profile general statement, signed off on by all governments, but not linked to any particular strand of talks. 

Whether they have enough people to organise this, as well as the finance talks, remains to be seen. The presidency’s press conference in a few hours should shed some light.

The post COP29 Bulletin Day 7: Hope for G20 finance breakthrough but emissions-cutting talks collapse appeared first on Climate Home News.

COP29 Bulletin Day 7: Emissions-cutting talks resurrected and G20 nudge on finance

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Hurricane Helene Is Headed for Georgians’ Electric Bills

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A new storm recovery charge could soon hit Georgia Power customers’ bills, as climate change drives more destructive weather across the state.

Hurricane Helene may be long over, but its costs are poised to land on Georgians’ electricity bills. After the storm killed 37 people in Georgia and caused billions in damage in September 2024, Georgia Power is seeking permission from state regulators to pass recovery costs on to customers.

Hurricane Helene Is Headed for Georgians’ Electric Bills

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Amid Affordability Crisis, New Jersey Hands $250 Million Tax Break to Data Center

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Gov. Mikie Sherrill says she supports both AI and lowering her constituents’ bills.

With New Jersey’s cost-of-living “crisis” at the center of Gov. Mikie Sherrill’s agenda, her administration has inherited a program that approved a $250 million tax break for an artificial intelligence data center.

Amid Affordability Crisis, New Jersey Hands $250 Million Tax Break to Data Center

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Curbing methane is the fastest way to slow warming – but we’re off the pace

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Gabrielle Dreyfus is chief scientist at the Institute for Governance and Sustainable Development, Thomas Röckmann is a professor of atmospheric physics and chemistry at Utrecht University, and Lena Höglund Isaksson is a senior research scholar at the International Institute for Applied Systems Analysis.

This March scientists and policy makers will gather near the site in Italy where methane was first identified 250 years ago to share the latest science on methane and the policy and technology steps needed to rapidly cut methane emissions. The timing is apt.

As new tools transform our understanding of methane emissions and their sources, the evidence they reveal points to a single conclusion: Human-caused methane emissions are still rising, and global action remains far too slow.

This is the central finding of the latest Global Methane Status Report. Four years into the Global Methane Pledge, which aims for a 30% cut in global emissions by 2030, the good news is that the pledge has increased mitigation ambition under national plans, which, if fully implemented, could result in the largest and most sustained decline in methane emissions since the Industrial Revolution.

The bad news is this is still short of the 30% target. The decisive question is whether governments will move quickly enough to turn that bend into the steep decline required to pump the brake on global warming.

What the data really show

Assessing progress requires comparing three benchmarks: the level of emissions today relative to 2020, the trajectory projected in 2021 before methane received significant policy focus, and the level required by 2030 to meet the pledge.

The latest data show that global methane emissions in 2025 are higher than in 2020 but not as high as previously expected. In 2021, emissions were projected to rise by about 9% between 2020 and 2030. Updated analysis places that increase closer to 5%. This change is driven by factors such as slower than expected growth in unconventional gas production between 2020 and 2024 and lower than expected waste emissions in several regions.

Gas flaring soars in Niger Delta post-Shell, afflicting communities  

This updated trajectory still does not deliver the reductions required, but it does indicate that the curve is beginning to bend. More importantly, the commitments already outlined in countries’ Nationally Determined Contributions and Methane Action Plans would, if fully implemented, produce an 8% reduction in global methane emissions between 2020 and 2030. This would turn the current increase into a sustained decline. While still insufficient to reach the Global Methane Pledge target of a 30% cut, it would represent historical progress.

Solutions are known and ready

Scientific assessments consistently show that the technical potential to meet the pledge exists. The gap lies not in technology, but in implementation.

The energy sector accounts for approximately 70% of total technical methane reduction potential between 2020 and 2030. Proven measures include recovering associated petroleum gas in oil production, regular leak detection and repair across oil and gas supply chains, and installing ventilation air oxidation technologies in underground coal mines. Many of these options are low cost or profitable. Yet current commitments would achieve only one third of the maximum technically feasible reductions in this sector.

Recent COP hosts Brazil and Azerbaijan linked to “super-emitting” methane plumes

Agriculture and waste also provide opportunities. Rice emissions can be reduced through improved water management, low-emission hybrids and soil amendments. While innovations in technology and practices hold promise in the longer term, near-term potential in livestock is more constrained and trends in global diets may counteract gains.

Waste sector emissions had been expected to increase more rapidly, but improvements in waste management in several regions over the past two decades have moderated this rise. Long-term mitigation in this sector requires immediate investment in improved landfills and circular waste systems, as emissions from waste already deposited will persist in the short term.

New measurement tools

Methane monitoring capacity has expanded significantly. Satellite-based systems can now identify methane super-emitters. Ground-based sensors are becoming more accessible and can provide real-time data. These developments improve national inventories and can strengthen accountability.

However, policy action does not need to wait for perfect measurement. Current scientific understanding of source magnitudes and mitigation effectiveness is sufficient to achieve a 30% reduction between 2020 and 2030. Many of the largest reductions in oil, gas and coal can be delivered through binding technology standards that do not require high precision quantification of emissions.

The decisive years ahead

The next 2 years will be critical for determining whether existing commitments translate into emissions reductions consistent with the Global Methane Pledge.

Governments should prioritise adoption of an effective international methane performance standard for oil and gas, including through the EU Methane Regulation, and expand the reach of such standards through voluntary buyers’ clubs. National and regional authorities should introduce binding technology standards for oil, gas and coal to ensure that voluntary agreements are backed by legal requirements.

One approach to promoting better progress on methane is to develop a binding methane agreement, starting with the oil and gas sector, as suggested by Barbados’ PM Mia Mottley and other leaders. Countries must also address the deeper challenge of political and economic dependence on fossil fuels, which continues to slow progress. Without a dual strategy of reducing methane and deep decarbonisation, it will not be possible to meet the Paris Agreement objectives.

Mottley’s “legally binding” methane pact faces barriers, but smaller steps possible

The next four years will determine whether available technologies, scientific evidence and political leadership align to deliver a rapid transition toward near-zero methane energy systems, holistic and equity-based lower emission agricultural systems and circular waste management strategies that eliminate methane release. These years will also determine whether the world captures the near-term climate benefits of methane abatement or locks in higher long-term costs and risks.

The Global Methane Status Report shows that the world is beginning to change course. Delivering the sharper downward trajectory now required is a test of political will. As scientists, we have laid out the evidence. Leaders must now act on it.

The post Curbing methane is the fastest way to slow warming – but we’re off the pace appeared first on Climate Home News.

Curbing methane is the fastest way to slow warming – but we’re off the pace

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