U.N. campaign sets out tougher standards for company net-zero plans
A U.N.-backed campaign to drive faster climate action on Wednesday laid out a tougher set of minimum standards for the growing number of companies looking to pledge their efforts to cut greenhouse gas emissions. The updated criteria issued by the 'Race to Zero' campaign are important as they will be reflected in the obligations of a range of partner organisations marshalling the climate efforts of various sectors, from banks to insurers and asset managers. The new rules follow a period of consultation between more than 200 independent experts and will affect many of the world's biggest companies which have already joined such initiatives and publicly committed to reaching net-zero emissions. Under the rules, all members would be explicitly required to phase down and then phase out all unabated fossil fuels, and to do so in a way that ensures a so-called 'Just Transition', where the social impacts of the low-energy transition are mitigated. "In practice, this means corporations and investors must restrict the development, financing, and facilitation of new fossil fuel assets, which includes no new coal projects," the campaign said in a statement. "The exact pathways and timelines naturally differ across regions and sectors." Members would also, for the first time, be required to align their lobbying and advocacy activities with net-zero by "proactively supporting" climate policies at the sub-national and national level "consistent with the Race to Zero criteria".
India targets net-zero carbon emissions by 2070, says Modi
India’s economy will become carbon neutral by the year 2070, the country’s prime minster has announced at the COP26 climate crisis summit in Glasgow. The target date is two decades beyond what scientists say is needed to avert catastrophic climate impacts. India is the last of the world’s major carbon polluters to announce a net-zero target, with China saying it would reach that goal in 2060, and the United States and the European Union aiming for 2050.
COP26: What climate summit means for one woman in Bangladesh
China's carbon emissions are vast and growing, dwarfing those of other countries. Experts agree that without big reductions in China's emissions, the world cannot win the fight against climate change. In 2020, China's President Xi Jinping said his country would aim for its emissions to reach their highest point before 2030 and for carbon neutrality before 2060. His statement has now been confirmed as China's official position ahead of the COP26 global climate summit in Glasgow. But China has not said exactly how these goals will be achieved.
Why China's climate policy matters to us all
China's carbon emissions are vast and growing, dwarfing those of other countries. Experts agree that without big reductions in China's emissions, the world cannot win the fight against climate change. In 2020, China's President Xi Jinping said his country would aim for its emissions to reach their highest point before 2030 and for carbon neutrality before 2060. His statement has now been confirmed as China's official position ahead of the COP26 global climate summit in Glasgow. But China has not said exactly how these goals will be achieved.
Deliver on promises, developing world tells rich at climate talks
A crucial U.N. conference heard calls on its first day for the world's major economies to keep their promises of financial help to address the climate crisis, while big polluters India and Brazil made new commitments to cut emissions. World leaders, environmental experts and activists all pleaded for decisive action to halt the global warming which threatens the future of the planet at the start of the two-week COP26 summit in the Scottish city of Glasgow on Monday. The task facing negotiators was made even more daunting by the failure of the Group of 20 major industrial nations to agree ambitious new commitments at the weekend.