International Institute for Sustainable Development’s Post

'The Advisory Board recommends EU decision-makers to swiftly conclude negotiations on key initiatives under the European Green Deal that are still pending. The Advisory Board emphasises the overdue revision of the Energy Taxation Directive, which is still blocked at the Council level, to better incentivise the deployment of clean alternatives over fossil fuel use. The Advisory Board also highlights as a top priority for policy makers the need to put forward clear plans and timelines to urgently and fully phase out harmful fossil fuel subsidies across the EU. Far from decreasing, subsidies have remained stable at €50 billion per year, and even surged in recent years, which undermines the incentive to reduce fossil energy use and decreases the public budget available to support climate action.' https://lnkd.in/daBGX6tt

Great news as the UK is withdrawing from a controversial treaty that allows fossil fuel giants to sue governments over their climate policies. The treaty was set up in the 1990s when energy systems were more reliant on fossil fuels, and was designed to encourage international energy investment. But it means countries reducing their reliance on fossil fuels and boosting clean power have come up against costly legal challenges. It's great that the UK is standing up for clean energy! 🙌 🌍 https://bit.ly/49NDcLA #EnergyCharterTreaty #SustainableEnergy #CleanTech

⏰ A moment of truth: ⌛ In two days (30 June) all EU countries are due to submit their National Energy and Climate Plans #NECPs. Despite the fact that these plans are crucial for meeting 2030 climate goals and ensuring a socially just transition, it still looks like many countries will miss the deadline… 🧐 The first drafts fell short of putting most countries on course for these targets. The revised plans will face another round of scrutiny and we urge the European Commission to maintain rigorous standards: Urgent, concrete action on renewables and energy demand is necessary to displace fossil fuels so these plans MUST be up to the task. 🙋♀️ Ensuring the public - in particular, youth and marginalised groups - are properly involved would be a good way of ensuring robust plans that can deliver for a liveable future for all. #TogetherFor1point5 

CCC warns: No loosening of future UK emission targets The Climate Change Committee has commended the UK Government for meeting the Third Carbon Budget but strongly advises against carrying forward surplus emissions to relax future carbon budgets Piers Forster #UKenergy #energytransition #carbonbudget #netzero #emissions

Why might Europeans be the most forward-thinking when it comes to carbon removal? One reason is that they are thinking about the costs. The EU released its first climate risk report last week, and it isn't pretty. There are already 9 risks that have hit the Critical level. One level short of Catastrophic. Food, water, and energy security are already compromised, and this was only our first year above the 1.5*C threshold. Should these risks go Catastrophic, economic losses will exceed EUR $1T per year! If you think long-term enough, the ROI for early preventative investment in decarbonization is practically infinite. Now, I am thankful that the EU is already leading the pack with frameworks enabling renewable energy and voluntary carbon removal, but the market needs to keep driving policy and voluntary action forward at an accelerated pace. https://lnkd.in/gJVsXgfU

🌐 Yesterday, the European Commission released the EU Climate Action Progress Report 2023, highlighting the EU’s progress in reducing greenhouse gas emissions and advancing its climate and energy goals. The preliminary 2023 data shows that “ETS emissions are now around 47% below 2005 levels and well on track to achieve the 2030 target of -62%,” the Commission said. Reported aviation emissions were up almost 9% YoY to 52.19 million tonnes but remained lower than pre-COVID 2019 levels by 13.6 million tonnes. Here's what you need to know: 1️⃣ The EU’s net greenhouse gas emissions decreased by around 3% in 2022, continuing a 30-year downward trend, reaching a total reduction of -32.5% since 1990. 2️⃣ Despite challenges such as the COVID-19 pandemic and the energy crisis following Russia’s invasion of Ukraine, the EU has made progress in emission reductions, renewable energy deployment, and investing in clean mobility. 3️⃣ Emissions from factories and power plants in the EU Emissions Trading Systems (EU ETS) decreased by 1.8% in 2022 compared to the previous year, largely due to the boost in renewable energy. 4️⃣ The energy sector saw a slight increase in emissions for a second consecutive year due to more use of coal in electricity generation. 5️⃣ Aviation emissions went up almost 9%, but this was expected due to post-Covid recovery. ✈ Carbon exposure is increasingly important as 2026 draws closer. Airlines will lose free allowances in the EU ETS compliance system and those who have done their homework will be in a significantly stronger position. Lessors can hedge carbon risk by investing and holding EUAs as opposed to buying voluntary and unregulated offset projects. ICAO recently announced they have rejected applications from both Verra and Gold Standard for projects to be included in Phase 1 of CORSIA. #euets #carbonrisk #decarbonisation #europeancommission #dgclima

Leaders of the Group of Seven (#G7) developed nations committed to accelerating their transition away from fossil fuels during this decade at their Bonn summit, but climate-minded businesses were left “frustrated” by this outcome. Groups, including the We Mean Business Coalition, lamented the lack of ambition in setting decarbonisation goals and criticized the leaders' failure to walk away from the summit with concrete initiatives. The statement from G7 leaders also confirmed the possibility of public investments in natural gas to accelerate the phase-out of their “dependency on Russian energy," a particularly sore point for those hoping to see stricter standards for fossil fuel companies. https://lnkd.in/geB55piA #G7 #WeMeanBusinessCoalition #Decarbonisation

G7 Vows To Drop Fossil Fuels Faster, But Activists Unimpressed Leaders of the G7 will commit to accelerating their transition away from fossil fuels during this decade, according to a draft of a statement to be issued at the end of their summit in Italy. The document includes a pledge "to phase out existing unabated coal power generation in our energy systems during the first half of the 2030s", as agreed by G7 energy ministers in April. But it also allows an alternative commitment of phasing out coal-fired power plants "in a timeline consistent with keeping a limit of a 1.5°C temperature rise within reach, in line with countries' net-zero pathways", offering leeway to Germany and Japan, whose economies are still dependent on the fuel. Climate activists were critical, saying the summit had produced a lack of concrete commitments and most pledges had already been agreed at previous lower-level meetings. #G7 #climate #cliamteaction #fossilfuels https://lnkd.in/et-s8f5K

Heading down to the New Statesman’s Energy & Climate Change event today where both the incumbent and shadow UK net zero ministers will be speaking. Looking forward to comparing the parties’ priorities in this #election year.

#Denmark was ranked the best in this year's survey of the Climate Change Performance Index - CCPI. The result reflects Denmark's commitment to build a greener future, especially in #renewableenergy production. Denmark leads the list, but the top three places remain vacant in 2023. Established in 2005, the CCPI is an important tool to measure the implementation of the measures set forth by the Paris Agreement. It evaluates the performance of the European Union and 59 other countries. The index seeks to create transparency in climate policy adoption, making it possible to compare efforts and measure progresses and setbacks.