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In 2024, the world is facing one of the most volatile geopolitical outlooks in decades.

More than 50 countries, accounting for half of the global population, are going to the polls, with high levels of political uncertainty across many of the world’s largest economies.

Additionally, ongoing conflicts, extreme weather events, trade disputes and resource competition are contributing to geopolitical volatility.

With the world nearly half way through a “critical decade” for climate action, overcoming geopolitical risks in order to start rapidly cutting emissions is paramount to limiting global warming. 

Carbon Brief has asked a range of scientists, policy experts and campaigners from around the world what they think the biggest geopolitical risks to climate action will be in 2024.

These are their responses, first as sample quotes, then, below, in full:

  • Prof Jason Bordoff: “We are currently at risk of a troubling downward spiral, in which today’s geopolitical conflicts are complicating and slowing the energy transition.”
  • Olivia Lazard: “Structural and dynamic risks lead to grievances ripe for an economic, political and/or geo-politicised backlash against or away from climate action.”
  • Faten Aggad: “From an African perspective, the key challenge is that the geopolitical tension between China and the US/EU will be used as an excuse this year to argue for a limited increase in climate finance.”
  • Jennie King: Many are using “climate issue… as a gateway to undermine democratic life and norms.”
  • Iskander Erzini Vernoit: “Development assistance and aid budgets are at risk of being slashed by shortsighted politicians.”
  • Dr Dhanasree Jayaram: “The India-China conflict poses immense risks to transboundary climate and water cooperation.”
  • Anna Ackermann: “Right-wing populism gaining visibility and votes in democracies means there is a risk of rising anti-climate sentiments.”
  • Juan Pablo Medina Bickel: “The global discussion to protect the Amazonian rainforest requires incorporating a security angle.”
  • Prof Sophia Kalantzakos: “The road to net-zero and global digitalisation have been subsumed by … power struggles, driven by Sino-American hyper-competition exacerbated further by Russia’s invasion of Ukraine.”
  • Kate Logan: “Concerns over China’s [clean-tech] dominance have further entrenched protectionist policies in the US and EU especially, where climate action is increasingly intertwined with economic competitiveness and political support from domestic industrial bases.”

Jason BordoffJason Bordoff

Founding director
Center on Global Energy Policy at Columbia University’s School of International and Public Affairs

Today’s increasingly volatile and unstable geopolitical environment is one of the most powerful forces shaping the global energy transition and climate action. We are currently at risk of a troubling downward spiral, in which today’s geopolitical conflicts are complicating and slowing the energy transition, while the risks of a disorderly transition risk exacerbating some of today’s most troublesome geopolitical trends.

Increasingly fraught global conflicts are sapping resources and political will to address the climate crisis, from the Middle East to Russia’s unjustified aggression against Ukraine. Most recently, strikes by Israel and Iran directly against one another have inflamed tensions, escalating risks in a region critical to climate action that may also have ripple effects globally.

Additionally, great power competition between many of the countries needed to lead on climate action, notably the US and China, is rewriting the rules of the international economic order and complicating climate action further. The urgency of accelerating the deployment of clean energy technologies far more rapidly than is the case today risks being hampered by concerns about national security, economic competitiveness fueled by the rise of industrial policy, and supply chain resilience that could raise the costs of those technologies. A recent example of this concern was the Biden administration’s launching of a national security investigation into the risks posed by imported Chinese electric vehicles. 

While there are real policy concerns to address with regard to China’s dominance in clean energy supply chains, there is also a real tension between limiting China’s market access and scaling clean energy technologies at the speed and scale needed for climate action.

Finally, there are signs of growing resentment and backlash by emerging and developing economies at the perceived unfairness in how the energy transition is unfolding. Leaders in the global south increasingly point to the inability of countries responsible for most of the cumulative emissions to mobilise capital for the transition in lower income countries, or what they see as hypocrisy in how wealthier countries approach fossil fuel investment at home versus in energy-poor countries, among other concerns. As a significant share of future emissions growth will come from emerging and developing economies and more than half of investment is needed in those countries by the early 2030s, ensuring they see the transition as proceeding in a just and equitable way is essential.

Olivia LazardOlivia Lazard

Fellow
Carnegie Europe

The list is long! It is a year when a third of the world is going to the election polls, including in the EU and in the US. Needless to say, a radical right wave in the west would be disastrous for the coherence of climate trajectories. It would undermine the key message that democracies can deliver on social contracts and inter-generational stakes. In Europe, the radical right has been making progress on the back of economic and societal issues, but one should not underestimate two other factors that magnify the risks.

The first one is disinformation and misinformation, especially the kinds piloted from Russia. The latter has perfected the art of fragmentation weaponisation in all its forms, including on the information and policy debate. Its tactics are both diffuse – via social media and digitalisation – and direct – co-opting and/or influencing political actors in Europe to serve its own interests.

The second one is Europe’s own geopolitical blindspots, lack of foresight and, therefore, lack of strategic communication to European citizens. As opposed to what [European Commission] president [Ursula] von der Leyen said, the world is not going through a series of “crises”, which require weathering through. The world is in a state of biospheric, economic and power transitions, which require adaptation and transformation. Europe did not anticipate the paradigm shifts which are now unfolding. Political extremes are, however, riding the wave of this lack of anticipation to come to power and cement a more protectionist approach. The latter will break trust that Europe needs to deliver legally-binding climate action, and more largely, that Europe needs to exist.

Underpinning election-related risks is inflation. 2023 was indeed a record-breaking year from a climate perspective. Global temperature average overshot past the 1.5C threshold compared to pre-industrial levels on a few occasions. Marine and pole temperatures broke records that indicate tipping points may activate sooner than later. El Nino contributed to dramatic impacts on various forms of agriculture. These global trends may seem abstract, but they indicate that the world is indeed headed towards more impactful forms of “natural” hazards – which translate in economic shocks at various levels – combined with more structural forms of scarcity and shortages, particularly with regards to water and food. 

These combined dynamic forms of economic stress will have different effects: disruption of agricultural and industrial, energy sources and trade passage points; inflation levels will remain a growing concern in the global economic system. This will have direct purchasing power impacts on vulnerable populations in all countries alike, with potential for active breakdown of social contracts in some countries, and change in political tides in others – including pushing a swell of radical parties in Europe. On a more macro-economic level, it will keep straining relationships between countries of the global north and global south, with detrimental effects on debt-relief conversations. Yet, the latter are absolutely crucial to enhance global adaptation and [emissions] mitigation capacity. 

All of these structural and dynamic risks lead to grievances ripe for an economic, political and/or geo-politicised backlash against or away from climate action. Considering that we’re in the pivot years towards a world past the 1.5C threshold, to say that this would be disastrous is an understatement.

Faten AggadFaten Aggad

CEO
African Future Policies Hub

All eyes are on the US presidential election and what [candidate Donald] Trump will do.

From an African perspective, the key challenge is that the geopolitical tension between China and the US/EU will be used as an excuse this year to argue for a limited increase in climate finance. We are likely to see this play out during COP29 [in Baku] when the discussion on the new financing goal is due to be discussed – [including the] insistence of western countries on a contributor base that includes China – as well as the replenishment of the International Development Association (IDA). 

The insistence on financing through specific frameworks – rather than net flows to developing countries – is not constructive and risks poisoning discussions around international commitments for climate finance.

While it is clear that the quantum needs to be increased and that contributions need to come from all high polluters, any attempts to capture the discussion by adding these geopolitical tensions will be seen as a lack of commitment by developing countries. Understandably, these countries can only commit to decarbonisation – and to more ambitious NDCs next year – if they have a sense that there is serious consideration for their argument on financial flows. 

Also, internationally, the major risk is emission increase due to the issues on the Red Sea shipping route (estimated at [being an increase in emissions up to] 11%), as well as announced increase in weapon manufacturing due to increased demands. Considering that the defence sector estimated carbon footprint stands at 5.5% of global emissions, this is concerning.  

Jennie KingJennie King

Director of climate research and policy
Institute for Strategic Dialogue

It’s generally assumed that mis- and disinformation in this space has a clear policy goal: weaken the public mandate for action, slow down the legislative process and, ultimately, maintain the status quo of the carbon economy. By confusing the public, actors can delay progress and prevent us from achieving a sustainable, decarbonised future.

That remains true in many cases, but I think there is a bigger or parallel game at play: climate issues are also being used as a gateway to undermine democratic life and norms. Nowadays, the aim of much content is not just to delay net-zero, but rather weaken trust in political systems and institutions writ large. Framing climate action as an elite conspiracy or inherently undemocratic, and feeding into wider anti-establishment sentiment, has proven very successful.

Climate is by no means the only victim of that trend, which has also impacted issues like racial justice, sexual and reproductive health, civil rights and electoral integrity. But I think what makes it uniquely vulnerable is how holistic the problem is and how every pocket of society has to be involved in the transition moving forward.

By its very nature, climate is a problem that requires not only big government solutions, but multilateral cooperation. We are living in a time where people have lost faith or patience in either of those things. Citizens are suspicious of government and sceptical that policymaking can actually yield results. At the same time, nativism and isolationism are on the rise. That means the idea of doing things collaboratively with other countries – potentially even hostile states – and the global community rallying together around a shared crisis is an easy one to exploit and turn people against.

When we think about the problem in this huge election year – the so-called “year of democracy” – and beyond, I see those as the two parallel challenges: one, ongoing and coordinated efforts to thwart climate action, often funded by billions of corporate dollars; second, the way that climate is being weaponised to increase social division and embed the idea that democracy doesn’t work. We cannot address one without the other.

Iskander Erzini VernoitIskander Erzini Vernoit
Director
IMAL Initiative for Climate & Development

The most significant question to be addressed within the multilateral climate regime – in 2024 – is that of international climate finance. The new collective quantified goal (“NCQG”) on climate finance in the UNFCCC, mandated [as part of the Paris Agreement] to be agreed before 2025, is to exceed and replace the goal of $100bn per year originally agreed in Copenhagen.

This will be enormously consequential to the future of climate action, as a time-limited window for governments to start, essentially for the first time, having responsible conversations about the magnitude of climate finance required to deliver the Paris Agreement. Climate change mitigation, including but not limited to energy transition, adaptation and loss and damage entail financing needs for poorer countries in the trillions of dollars per annum (in terms of overall nominal public/private sums required), of which at least hundreds of billions are needed in public finance support (in grant-equivalent terms).

One great risk in 2024 is that geopolitical rivalries between the so-called superpowers distract from the urgent need to scale up finance from the world’s richer countries to the world’s poorer countries, amid widespread sovereign debt distress and a shrinking window to deliver the Paris Agreement and UN Sustainable Development Goals. 

Despite the historical examples of the highest peaks in development spending being motivated by geopolitical rivalries, development assistance and aid budgets are at risk of being slashed by shortsighted politicians precisely when an increase is needed.

Dr Dhanasree JayaramDr Dhanasree Jayaram
Assistant professor at the department of geopolitics and international relations, and co-coordinator of Centre for Climate Studies (CCS)
Manipal Academy of Higher Education (MAHE), Karnataka, India

South Asia is fraught with multiple crises, including political instability, socio-economic uncertainty, ecological fragility and resource inaccessibility. Both internal and transboundary challenges impede much-needed climate action to protect the most vulnerable populations in the region. The region is not immune to global developments such as the wars in Ukraine and Middle East either, as they have had adverse impacts on the countries’ energy and food security – making them less climate-resilient.

The governance gap is exacerbated by regional geopolitical tensions too. For example, the India-China conflict poses immense risks to transboundary climate and water cooperation. In fact, border infrastructure expansion and troop buildup could increase fossil fuel dependencies and socio-ecological vulnerabilities, especially in the Hindu Kush Himalayan region that sustains major ecosystems and river basins of South Asia.

More importantly, the lack of trust and robust institutional arrangements, despite common/shared challenges, hampers regional cooperation. While many transboundary ecological concerns in the region such as climate migration, fisheries management and air pollution lack governance mechanisms, many mutually beneficial opportunities are not being capitalised on, such as cross-border renewable energy trade.

Anna AckermannAnna Ackermann
Policy analyst at the International Institute for Sustainable Development
Board member at the Centre for Environmental Initiatives “Ecoaction”

Global movement to advance climate action requires sustainable peace, opportunities for development of the green economy around the world and a fair contribution from all countries responsible for historically high shares of greenhouse gas emissions. More people should be living in democracies to ensure their rights are protected, including the right to a clean environment and climate protection. Unfortunately, the world is becoming more complicated, with higher geopolitical risks and many uncertainties.

The ongoing military conflicts are likely to continue or escalate. Having moved from authoritarianism to totalitarianism, Russia keeps running the economy and financing its war against Ukraine – the largest armed conflict in Europe since World War II – with fossil fuels. Russia is gaining billions of dollars weekly from its oil and gas exports, while increasing military spending to the record $110bn this year. As Ukraine struggles to protect itself without sufficient international support and an unstable situation with the upcoming US elections, European countries boost their defence preparedness. This sets security on top of the agenda both on national level and globally – during most world leader meetings.

As half of the world will be voting in 2024, we see worrying trends of democratic backsliding and autocratisation of countries around the globe. We tend to focus criticism for the lack of climate action on democracies (often fairly enough). Meanwhile, authoritarian regimes do not allow criticism as such, preferring civil society’s silence or absence, and use of harmful disinformation tactics at home and abroad. Right-wing populism gaining visibility and votes in democracies means there is a risk of rising anti-climate sentiments. As we saw in recent years, this may well translate into shockwaves to international climate policies and COP outcomes.

Juan Pablo Medina BickelJuan Pablo Medina Bickel
Research associate
International Institute for Strategic Studies

Tackling deforestation in the Amazonian rainforest, the world’s largest tropical forest, also known as the planet’s lungs for its carbon-sinking characteristics, is key for the global climate action agenda.

The protection of this rainforest requires addressing multiple drivers of forest loss, including the expansion of transnational drug trafficking and related environmental crime linked to illegal mining, logging and cattle ranching. Yet, the discussion of security and armed conflict risks across the Amazon in global fora is limited. The current international security agenda is largely focused on the Russian-Ukraine war, the Israel-Palestinian Territories armed conflict, and the Red Sea crisis. Moreover, the Venezuelan displacement emergency with over seven million refugees and migrants, the worst humanitarian crisis in the western hemisphere in decades, has taken centre stage in diplomatic, developmental assistance and security cooperation talks in the Americas. In particular, the record level of irregular Venezuelan migration into the US across the Mexican border has become a priority for US foreign relations with the region.

All in all, in 2024 the global discussion to protect the Amazonian rainforest requires incorporating a security angle.

Prof Sophia KalantzakosProf Sophia Kalantzakos
Global distinguished professor, environmental studies and public policy
New York University Abu Dhabi

The road to net-zero and global digitalisation have been subsumed by realist power struggles, driven by Sino-American hyper-competition exacerbated further by Russia’s invasion of Ukraine in 2022. Supply chains and the fourth industrial revolution have become securitised, and a world of “clubs” and “fences” has emerged undermining ties of interdependence. Moreover, the race for critical minerals and the chip wars raise fears of a scramble: for inputs, “geopolitically engineered” supply chains and the building up of tech and knowledge barriers that produce new exclusions and inequities. 

This is why I have argued that global climate leadership should not be driven by the US and China. Their relationship is unstable and acrimonious and has proven that climate is readily sacrificed on the altar of their wider rivalries. While ideologically framed as a fight between democracy and autocracy, they struggle to ensure primacy in the green energy and industrial shifts – and more importantly to control the “tech imperium”. To add to the current instability, a Trump victory in November 2024 will pull the US out of the [global] climate regime. While the Biden administration has made extraordinary efforts to transform the US economy, a Trump White House will wreak further havoc in the global order and undermine climate resolve. 

Kate LoganKate Logan
Associate director of climate
Asia Society Policy Institute, Asia Society

With major armed conflicts continuing to divert attention and financial flows, there is no shortage of geopolitical risk to climate action in 2024. From a mitigation perspective especially, the role of China – as both the world’s largest emitter, and the largest producer of decarbonisation technologies – looms large over prospects for progress.

China’s large-scale production of clean energy technologies, such as solar panels, electric vehicles and batteries has brought down the cost of these critical products and spurred their uptake. But concerns over China’s dominance have further entrenched protectionist policies in the US and EU, especially, where climate action is increasingly intertwined with economic competitiveness and political support from domestic industrial bases.

Analysis by Wood Mackenzie indicates that excluding Chinese cleantech from global markets would raise the cost of the energy transition 20% by 2050, or $6tn. While supply chain diversification is important, how the world navigates these tensions will pose major implications for the speed and cost of emissions reductions – including in developing countries that don’t necessarily want to choose between the US and China. 

Domestically in China, political support for new coal power continues in the name of energy security. How soon the country can peak its emissions and bring them into structural decline will largely depend on power sector reforms and whether massive deployment of renewables can dampen coal power utilisation.

The entire world is also watching the US presidential election. A Trump victory would remove US pressure on China and other major emitters to cut their domestic emissions faster and introduce a new source of instability that may push countries to further prioritise security. Regardless, under either administration, trade tensions threaten to persist, with proposed legislation on carbon border adjustments receiving bipartisan support in the US Congress.

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Climate Change

Brazil confident new rainforest fund will reach $10bn donor milestone

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Brazil’s environment minister says he is “very optimistic” that the Tropical Forest Forever Facility (TFFF) – a new rainforest fund to channel private and public finance to developing nations – can meet a key $10 billion funding target this year, and is not at risk from his country’s elections next month.

The TFFF, launched by Brazil at COP30 in the Amazon last November and co-led by Norway, is intended as an alternative to traditional grant-based forest finance. The fund aims to raise $125bn in public and private capital, invest it in bond markets, and then pay countries that keep their forests standing from the annual returns. Donor contributions needed to get it going have tailed off after an initial burst.

Speaking to Climate Home News on the sidelines of Climate Week in New York, Brazilian environment minister João Paulo Capobianco pointed out that in less than a year since its official launch, the TFFF has already secured $7.3bn from governments.

“How many other initiatives can say that?” he asked. “Of course, if you have $7 billion, it’s easier for more countries to consider their own contribution. And not just countries – non-governmental organisations also. We are expecting even more support.”

    As its initial target, the TFFF aims to raise $10bn in seed capital from governments by the end of 2026, and still needs to fill a gap of $2.7bn. Its backers say that for each dollar in public funding, they can secure $4 from the private sector. Critics say the $10bn goal barely covers the fund’s expenses and would not allow it to make any significant payments to forest countries.

    Because setting up its financial architecture, raising the starting capital and making the first investments will take time, experts say the TFFF is unlikely to generate any payments for developing countries before 2028.

    Seeking new pledges

    Capobianco told Climate Home News that Brazil is still in talks with potential new contributors to the fund, among them China, Korea and Japan, and said he hoped to see more pledges announced at the upcoming biodiversity and climate COPs in October and November. The Netherlands is expected to up its first small contribution and Canada may also come in, according to other sources close to the TFFF.

    Because the fund was not created as part of the UN climate talks and is hosted by the World Bank, developing countries can contribute without taking on wider donor responsibilities for climate finance. Brazil and Indonesia – both large emerging rainforest nations – have each pledged $1bn to the TFFF.

    Earlier in September, the UK became the latest country to pledge funding – promising a loan of £400 million (about $540 million). Capobianco welcomed the contribution and noted that Britain has also said it will keep “under review” the possibility of putting in more.

    Currently the largest donor is Norway, which announced a $3bn pledge last year at COP30 in Belém. However, that pledge came with conditions, among them that the fund must reach $10bn in sponsor capital by 2026, and that Norway’s contribution can’t make up more than 20% of that total. Over the longer term, this means the fund must raise $15bn from governments to unlock Norway’s full investment.

    Comment: UK’s budget juggling trick with rainforest loan for bus-fare cap needs transparency

    Speaking at a forest finance event in New York, Norway’s environment minister Sigrun Aasland said the country’s pledge was made not “only out of solidarity but because of shared interests”, adding that protecting rainforests is critical for climate and biodiversity goals as well as for national security.

    “Tropical deforestation matters to people in the Amazon and in the Congo. But let’s not forget that it also matters to global food production and to the cost of living in Oslo or in London,” she said.

    At the event, Guyana’s minister of natural resources Vickram Bharrat said the TFFF is “one in a menu of options” to finance forest protection in developing countries. He added that to boost its capital “maybe we should put some amount of pressure on oil companies to contribute to the fund”.

    Upcoming election “not a risk”

    Brazil, which has been pivotal to getting the fund off the ground, is now heading into a national election that could see the country swing back to an anti-climate stance if right-wing candidate Flávio Bolsonaro beats current left-wing President Luiz Inacio Lula da Silva. Capobianco, however, said the election result does not pose a risk to the TFFF.

    “It’s a global initiative, not a Brazilian initiative. We proposed the first idea, but nowadays it’s a global initiative,” he said. “We believe the investor countries and the tropical countries together have the possibility to continue this process.”

    In Brazil, the first round of voting is scheduled for Sunday, October 4. If no candidate wins more than 50% of valid votes, a run-off ballot will take place on October 25.

    COP30 roadmap to end deforestation will invite countries to draft domestic plans

    In July, the TFFF board adopted a charter, which outlines the instrument’s objectives and values, including that 20% of the payments made to tropical countries will go directly to Indigenous people and local communities.

    The charter also says the TFFF board may comprise up to 12 member countries during the initial phase. Currently, seven seats are filled by the Democratic Republic of Congo (DRC), Germany, Brazil, France, the Netherlands, Norway and Indonesia.

    The board has also formally incorporated the Tropical Forest Investment Fund (TFIF) – the TFFF’s investment arm that will trade bonds in financial markets – hosted in Luxembourg.

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    Climate Change

    COP31 must aim higher to cut emissions from the use of materials  

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    Patrick Schröder is a senior research fellow at Chatham House’s Environment and Society Centre.

    A climate summit serious about implementation cannot afford to leave major emissions reductions off the table. Yet, that is the risk COP31 faces unless it makes reducing raw material use central to the way countries decarbonise their economies.

    On the sidelines of the UN General Assembly in New York last week, COP31 host Türkiye laid out proposals to accelerate emissions cuts in the next decade. Its plans include global goals to increase the share of recycled products in material use to at least 15% (up from 6.9% in 2025) and halve waste generation by 2035.

    COP31 offers an opportunity to connect efforts to improve material circularity with stronger national climate commitments and mitigation pathways. But these targets could be a lot more ambitious.

    The case for circularity

    The Paris Agreement cannot be delivered through cleaner electricity alone. We must also reduce the emissions that are embedded in the way we extract resources, manufacture products, build infrastructure and dispose of waste.

    Circularity principles are pivotal to credible mitigation pathways: designing technologies and products to last, repairing and reusing them, and reducing demand for virgin resources.

    The scale of the opportunity is striking. A recent European Environment Agency review found that adopting such principles could deliver average global emissions reductions potential of 52% in the waste sector against a business-as-usual scenario, 48% in construction and buildings, 28% in transport and mobility, 26% in industry and 24% in agriculture.  

      These figures make a compelling case for raising circularity ambitions across the economy, offering the promise of far more than better recycling bins.

      In fact, recycling minerals used in cleantech equipment, for example, illustrate the extent of the emissions savings available. The carbon footprint of minerals and metals recovered from secondary sources is up to 80% lower than those produced from new mining and processing, according to the International Energy Agency.

      A major EU-funded project estimates that recovered materials could substitute up to 56% of Europe’s primary critical raw material requirements by 2050, provided they achieve the necessary quality. The main takeaway goes beyond Europe: yesterday’s products can become tomorrow’s strategic resources while mitigating climate change.

      In this light, a target to increase the share of recovered material use to 15% isn’t enough.

      The evidence-based Circularity Gap Report found a 17% target by 2032 is possible and could unlock additional emissions reductions amounting to several gigatonnes of CO2.

      Reducing material demand

      A higher circularity metric is only part of the answer, however. An economy can increase its recycling rate at the same time as extracting more primary materials if total material demand keeps growing.

      The tougher issue governments need to address is identifying what reductions in primary material use are needed.

      The Circularity Gap Report uses an indicative benchmark of eight tonnes of virgin materials consumed per person annually. This is already being translated into policy: Germany’s 2024 circular economy strategy aims to reduce primary resource consumption, with the German Federal Environment Agency identifying six to eight tonnes per person as an ambitious target.

      An engineer walks past a pump at the battery recycling pilot plant installed in the Eramet Research & Innovation center in Trappes, near Paris, France
      An engineer walks past a pump at the battery recycling pilot plant installed in the Eramet Research & Innovation center in Trappes, near Paris, France (Photo: REUTERS/Gonzalo Fuentes)

      Reducing primary material demand will require a closer integration of energy and resource policies. Efficient EVs charged with solar power can complement better public transport and walkable cities, while batteries designed to be repaired and reused for stationary energy storage before being recycled will reduce the materials footprint of transport and clean energy services.

      Coordinated infrastructure development and urban planning can prevent unnecessary overbuild, while renovating existing building stock reduces demand for new steel, cement and aluminium, which are emissions-intensive to produce. Connecting industrial waste heat to district heating networks can further reduce energy demand and emissions.

      What governments should agree at COP31

      COP31 can translate this approach into three concrete commitments.

      First, governments should agree a stronger circularity ambition, supported by material-footprint indicators and milestones. The presidency should seek recognition of these priorities in negotiated outcomes, alongside concrete delivery partnerships under its COP31 Action Agenda.

      Second, countries should include quantified circular economy measures in their updated nationally determined contributions (NDCs) and implementation plans. Such measures should include reuse, material efficiency and circularity targets, as well as transparent estimates of emissions savings that avoid double counting across sectors. By the end of 2025, countries had developed 101 national circular economy roadmaps and action plans, yet these often remained disconnected from their NDCs.

        Third, climate finance should support the delivery of circular solutions such as material recovery at scale, investments into circular critical mineral value chains beyond mining, developing a circular plastics economy, and designing buildings and cities that support material reuse. Developing countries need technology, affordable finance and support to deliver these ambitions, including for the informal workers whose livelihoods depend on recovering and recycling materials.

        The test for COP31 is to reach an agreement that can start the transformation of our production and consumption systems and how they are financed.

        A headline circularity target will achieve little without policies that address absolute resource demand and deliver measurable emissions cuts. But COP31 offers an opportunity to make circularity a central element of climate policy, with targets strong enough to matter and institutions equipped to deliver them.

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        COP31 must aim higher to cut emissions from the use of materials  

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        Climate Change

        As El Niño intensifies, we should be investing more in the world’s farmers

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        An exceptional El Niño is building. The World Meteorological Organization (WMO) says it has intensified to very strong levels and is likely to last at least through February 2027. If its current trajectory holds, it could become stronger than anything seen since WMO monitoring began four decades ago.

        That is bad news for agriculture. El Niño – a naturally occurring weather phenomenon – can scramble rainfall patterns across the world, bringing drought to some regions and floods to others. And this time it is unfolding against the backdrop of a significantly hotter climate, with farmers already contending with unreliable growing seasons, extreme heat and less predictable rainfall because of global warming.

        El Niño expected to bring next record-hot year as soon as 2027

        We are seeing the consequences already. In Sri Lanka, drought linked to El Niño has dried wells and reservoirs and cut into crops and farmer incomes. Indonesia is experiencing its worst wildfire season in 11 years, with prolonged drought and extreme heat exacerbated by El Niño. And in Peru, authorities are preparing for the opposite extreme: intense rains, flooding and landslides which the national civil-defence agency says could affect around 1.2 million people.

        These impacts will multiply as El Niño intensifies.

        And yet, just as the risks to food production are rising, the money available to help farmers withstand them is shrinking.

        10% funding decline in 2024

        A forthcoming analysis from the Food and Agriculture Organization (FAO) shows that climate-related development finance for agrifood systems is moving in the wrong direction. In 2024, the latest year for which data is available, it fell by 10 percent compared with a 2 percent overall decline. The sectors that put food on our tables — crops, livestock, forestry and fisheries — received just 5 percent.

        Yet this is precisely the moment when climate investment in agriculture needs to grow, not shrink. It can help communities adapt, build resilience and protect food security, while unlocking larger flows of public and private finance. Agriculture feeds us, supports the livelihoods of well over a billion people, and is often the first sector hit by drought, floods and extreme heat. Cutting that investment now is a false economy.

        One failed harvest can plant the seed for the next crisis, forcing farmers to eat the seed they have saved for planting, sell livestock or tools, or take on debt. It can also deepen food insecurity, disrupt supply chains and drive up prices, showing up months later in supermarket aisles far away.

        Comment: A supercharged El Niño is coming – are we ready?

        The Central American Dry Corridor, stretching through much of the region, shows both how exposed farmers are, and what investment can do. Based on an analysis of 41 years of satellite observations, FAO finds that some crop and pasture areas there face more than a 50 percent chance of agricultural drought over the coming months.

        About half of Central America’s 1.9 million producers of maize, beans and other basic grains live in the Dry Corridor. Many grow food both for sale and for their own families. When a harvest fails, they lose both income and dinner.

        El Salvador project conserves water and soil

        In El Salvador, which lies within the Dry Corridor, more than 50,000 farmers have adopted practices to better withstand drought and increasingly unreliable rainfall through RECLIMA, a project financed by the Green Climate Fund and implemented by FAO in partnership with the government of El Salvador. It has substantial national co-financing, including from the country’s Environmental Investment Fund.

        El Niño can intensify El Salvador’s annual mid-season dry spell, known as the canícula, turning it into a longer, harsher drought just as maize needs water most.

        RECLIMA promoters carry out the construction of hillside ditches to optimise water infiltration and minimise the loss of fertile topsoil, thereby strengthening the climate resilience of their local livelihoods in Santiago de María, Usulután North, El Salvador, June 4, 2025. (Photo: © FAO / Mario Araujo)

        RECLIMA promoters carry out the construction of hillside ditches to optimise water infiltration and minimise the loss of fertile topsoil, thereby strengthening the climate resilience of their local livelihoods in Santiago de María, Usulután North, El Salvador, June 4, 2025. (Photo: © FAO / Mario Araujo)

        For María Cristina Corvera de López, a second-generation farmer in rural Nahualapa, adapting means changing how every drop of rain is captured and used. She plants trees alongside her crops to provide shade and minimise evaporation and uses simple irrigation channels and a homemade drip system to conserve water. Instead of burning stalks, leaves and husks after harvest, as generations before her did, she turns them into mulch to hold moisture in the soil.

        “The effects of climate change are a constant challenge,” she says. But the new techniques have made her farm more resilient to El Niño as well. Where she once harvested about 50 bags of maize per acre, she now gets around 80, even during droughts. It’s enough to feed her family and sell the surplus.

        Managing risk now cuts future costs

        Together, these adaptations can mean the difference between losing a crop and getting through a dry season with enough food, seed and income to plant again. They are also the result of climate finance invested before disaster strikes.

        RECLIMA shows what that kind of adaptation investment can buy. Adaptation accounted for 45 percent of climate-related development finance to agrifood systems in 2024, and multilateral development banks are directing more agricultural finance towards resilience. That shift reflects a growing recognition that adaptation is a form of risk management, not just a development cost.

        We need much more of it. The same investments that help farmers withstand El Niño also enable them to adapt to a hotter, more unpredictable future. Cutting investment in the people who produce our food just as climate risks intensify does not save money. It simply pushes a much larger bill into the next harvest, the next food crisis, and the next El Niño.

        The post As El Niño intensifies, we should be investing more in the world’s farmers appeared first on Climate Home News.

        As El Niño intensifies, we should be investing more in the world’s farmers

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