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Climate reporter Esme Stallard breaks down the COP28 climate summit agreement - in less than a minute.

Improvements in metrics are likely to entice billions of dollars in nature investments across biodiversity, carbon, and water over 2024, an executive at MSCI has said.

Activists have highlighted what they see as loopholes and insufficient progress after UN climate negotiators directed the world on Wednesday to transition away from planet-warming fossil fuels in a move the talks' chief called historic, despite the worries of critics. Within minutes of opening the session, Cop28 president Sultan Al Jaber gavelled approval of the central document — the global stocktake that says how off-track the world is on climate and how to get back on — without asking for comments

• Cop28 landmark deal agreed to ‘transition away’ from fossil fuels

• Good Cop, bad Cop: what the Cop28 agreement says and what it means

• Cop28 live – latest updates

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Coalition alleges glyphosate, the most heavily applied herbicide in history, does not meet required safety standard set by federal law

Citing new scientific research, a coalition of farm worker, public health and environmental advocates on Wednesday filed a legal petition with US regulators demanding they immediately suspend authorization for the controversial weed-killing chemical called glyphosate.

The petition, filed with the Environmental Protection Agency (EPA), alleges that the chemical does not meet the required safety standard set by federal law and the EPA has “no valid assessment demonstrating otherwise”.

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The deal agrees to 'transition away' from fossil fuels for the first time but falls short of phasing them out.

Climate change minister says deal is not perfect but ‘transition away’ from oil and gas sends clear message to investors

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Climate change minister Chris Bowen says the Cop28 climate summit sent a clear message that “our future is in clean energy and the age of fossil fuels will end”, but acknowledged it did not go as far as many countries wanted.

Nearly 200 countries agreed to a deal that for the first time called on all nations to transition away from fossil fuels to avert the worst effects of the climate crisis.

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A German cleantech start up has raised €3.2 million in seed funding for its direct air capture (DAC) technology that can be retrofitted to existing cooling towers and waste heat pumps of ETS-covered industrial facilities, keeping onsite development and running costs low.

BNP Paribas Asset Management said on Wednesday that it has launched a new fund designed to finance energy transition projects across Europe.

IEEFA report says first round of CIS battery projects will leave no space for Eraring, but Chris Bowen will need a lot more wind and solar than he is planning now to reach his 82 pct renewables target.

The post No space for Eraring, but Bowen will need more wind and solar to meet 2030 target appeared first on RenewEconomy.

Here are selected party, stakeholder, and expert reactions to the UAE Consensus on the Global Stocktake (GST) and other outcomes at COP28 climate summit in Dubai, which wrapped up Wednesday.

Clean energy investors slam delays for renewable and storage projects in NSW, noting that the only wind farm approved in the last five years took nearly a decade to get over the line.

The post “A decade is far too long:” Major investors slam planning delays in NSW appeared first on RenewEconomy.

Telstra signs PPA for new solar farm in Queensland to take its total renewable contracts to the equivalent of all its annual electricity consumption.

The post Telstra signs up new Bundaberg solar farm to take it to 100% renewable mark appeared first on RenewEconomy.

Is the climate agreement enough to keep global temperatures in check?

Some say the deal is historic, others that it is weak. We look closely at the text for the truth of the matter

The decision text from Cop28 has been greeted as “historic”, for being the first ever call by nations for a “transition away” from fossil fuels, and as “weak and ineffectual” and containing a “litany of loopholes” for the fossil fuel industry. An examination of the text helps to explain this contradiction.

Limiting global warming to 1.5C [above pre-industrial levels] with no or limited overshoot requires deep, rapid and sustained reductions in global greenhouse gas emissions of 43% by 2030 and 60% by 2035 relative to the 2019 level and reaching net zero carbon dioxide emissions by 2050. [Countries] further recognise the need for deep, rapid and sustained reductions in greenhouse gas emissions in line with 1.5C pathways.

Tripling renewable energy capacity globally and doubling the global average annual rate of energy efficiency improvements by 2030.

Accelerating efforts towards the phase-down of unabated coal power.

Transitioning away from fossil fuels in energy systems, in a just, orderly and equitable manner, accelerating action in this critical decade, so as to achieve net zero by 2050 in keeping with the science.

Accelerating zero- and low-emission technologies, including, inter alia, renewables, nuclear, abatement and removal technologies such as carbon capture and utilisation and storage (CCUS), particularly in hard-to-abate sectors, and low-carbon hydrogen production.

Phasing out inefficient fossil fuel subsidies that do not address energy poverty or just transitions, as soon as possible.

Recognises that transitional fuels can play a role in facilitating the energy transition while ensuring energy security.

Results-based payments for policy approaches and positive incentives for activities relating to reducing emissions from deforestation and forest degradation, and the role of conservation, sustainable management of forests and enhancement of forest carbon stocks in developing countries.

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South Korea’s latest monthly CO2 auction again sold only a limited share of the permits on offer, as the market continues to struggle with lukewarm demand amid policy uncertainties.

Startup registry Isometric said on Wednesday that it has developed a new protocol for permanent carbon removal using bio-oil geological storage, and plans to unveil three more protocols over the next three months.

The government of South Korea has made official revisions to the allowance allocation plan for the domestic carbon market during the current phase (2021-25) to reflect the country's new emissions reduction targets and improve liquidity. 

Astonishingly, in the 30 year history of the UN COP climate negotiations, renewables have never gotten a mention. Now they are acknowledged as central to the switch from fossil fuels.

The post All over bar the shouting: Fossil fuels finally named and shamed by COP as climate culprit appeared first on RenewEconomy.

Yes, there was some progress at COP28. But the international community is not taking this enormous climate challenge as seriously as it should. Matt McDonald, Associate Professor of International Relations, The University of Queensland Licensed as Creative Commons – attribution, no derivatives.

He was personally vilified, but Sultan Al Jaber has managed what no other Cop presidency has ever done

• Cop28 live – latest updates

As temperatures broke records around the world this summer, António Guterres, the UN secretary general, warned in September: “Humanity has opened the gates of hell.”

On Wednesday, he hailed delegates at the Cop28 climate summit in Dubai, as two weeks of fraught talks ended. “For the first time, the outcome recognises the need to transition away from fossil fuels,” he said. “The era of fossil fuels must end, and it must end with justice and equity.”

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