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Cop 27: Mexico to launch updated NDC

  • Market: Emissions
  • 10/11/22

Mexico will increase its emissions reduction target from a disputed goal set in 2020 as part of an updated climate plan it will present at the ongoing Cop 27 UN climate summit, the environment ministry said.

Mexico now aims to cut greenhouse gas emissions by 30pc by 2030 from a 2000 baseline, up from a previous target of a 22pc reduction by the same year, set in 2020.

The country has also raised its conditional emissions reduction target — depending on outside financial support — to 40pc from 36pc previously set.

The reduction of black carbon emissions remains at an unconstitutional 51pc and 70pc percent conditioned by 2030, the ministry said.

Further details of Mexico's NDC and any changes in targets for reducing methane emissions were not available.

Mexico last updated its NDC two years ago when it committed to cut emissions by 22pc by 2030 and by 50pc by 2050, also against a 2005 baseline. But the government that year raised the level of its business-as-usual emissions scenario in 2020, effectively increasing its planned CO2 emissions in absolute terms.

Environmental and climate groups criticized the plan and Greenpeace filed a legal complaint against the reduced targets in a Mexican court. A court suspended the NDC, pending appeals.

Under the Glasgow climate pact agreed at last year's UN Cop 26 climate conference, parties were requested "to revisit and strengthen the 2030 targets in their nationally determined contributions as necessary to align with the Paris Agreement temperature goal by the end of 2022".


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Bloomberg to fund UN climate body in lieu of US

Bloomberg to fund UN climate body in lieu of US

London, 23 January (Argus) — Bloomberg Philanthropies and "other US climate funders" will ensure that the US meets its funding and reporting obligations to UN climate body the UNFCCC, after President Trump withdrew the country from the Paris climate agreement earlier this week. This is the second time that Bloomberg Philanthropies has "stepped in to help uphold [the US'] funding and reporting commitments… amid a lack of US federal climate leadership", the organisation said today. Trump pulled the US out of the Paris accord in his first term as US president, although then-President Joe Biden signed the agreement once more in early 2021. Bloomberg will "work to ensure US subnational climate leaders track and report on US climate progress over the next four years", the organisation said today. "Bloomberg Philanthropies has made significant investments in empowering local leaders, providing businesses with the data to track emissions while driving economic growth, and building coalitions across public and private sectors", founder Michael Bloomberg said. He is also a UN special envoy on climate ambition. UNFCCC executive secretary Simon Stiell welcomed the support, also noting that "government funding remains essential" for the climate body. The finance referred to is not the international climate finance often discussed at UNFCCC talks, but funding which helps the climate body operate and host events such as the annual Cop climate summits. It appears likely that the previous US administration had foreseen a lack of financial contributions from the Trump government. The US last year paid its arrears for the UNFCCC core budget in full — just under €3.4mn ($3.5mn) — leaving it in a minority of countries with no outstanding payments, UNFCCC accounts show. The US also contributed just under €7.3mn for 2024 — 22pc of the total contributed — again for the body's core budget, UNFCCC accounts show. Bloomberg Philanthropies contributed $4.5mn to the UNFCCC in 2024 for "supplementary activities", while the US provided $2.74mn, UNFCCC accounts show. Trump, in one of his first acts upon returning to office, on 20 January ordered the US to withdraw from the Paris agreement. That decision will take effect one year after the US gives formal notice to the UNFCCC. By Georgia Gratton Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

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Poland says EU 2040 climate target a 'challenge'


23/01/25
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23/01/25

Poland says EU 2040 climate target a 'challenge'

Edinburgh, 23 January (Argus) — Setting the bloc's climate target for 2040 as well as agreeing additional environmental and climate laws is a "challenge" for the six-month Polish EU presidency, Poland's environment minister Paulina Henning-Kloska said, as there is "no unified position". Speaking to the European Parliament's environment committee, Henning-Kloska, who chairs meetings of both environment and energy ministers, made clear that member state adoption of the bloc's 2040 target for cutting greenhouse gas (GHG) emissions will be difficult. "We had a discussion on this in the council [of ministers] last December," she said. "What is clear is that there is no unified position," she added, as some member states wants greater flexibility in reducing emissions between 2030 and 2050. Difficult discussions between EU states and in the European parliament will likely push the submission of the bloc's nationally determined contribution (NDC) — climate plan — to the UN Framework Convention on Climate Change (UNFCCC) beyond the 10 February deadline. The European Climate Law requires the European Commission to propose a 2040 climate target "at the latest within six months of the first global stocktake". The global stocktake was completed during the UN Cop 28 climate summit in Dubai, in 2023. It gauged countries' progress against the Paris Agreement and proposed measures to keep to its goals — including keeping warming preferably below 1.5°C. EU officials note that the 2040 target will "inform" the decision on the EU's next NDC. Even if the EU's NDC submission does not require a separate law, officials also "expect" to receive a political mandate from member states before the NDC submission by the European Commission and the EU's presidency, led by Poland until the end of June. Despite the threat to a speedy timeline, the commission maintains it will continue to be a "leading" voice for international climate action and aims to submit the EU's next NDC "well ahead" of the Cop 30 climate talks in Belem, Brazil in November. But German member Peter Liese thinks the EU is in "deadlock" on its 2040 target. "We may like it or not, it's very ambitious," he said. "And I don't see enough support for that target." A member of parliament's largest centre-right EPP group, Liese also picked up on Polish prime minister Donald Tusk's and Henning-Kloska's call for changes or delay to the bloc's specific emissions trading system for road transport and heating fuels (ETS2). "I don't see — without the ETS2 — member states have any plan to get to their target," said Liese, who has previously helped draft legislative revisions to the ETS. "I don't think abolishing is a solution. Postponement is also [not] the best solution," Liese said. By Dafydd ab Iago Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

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Standardisation, better finance needed for new nuclear


23/01/25
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23/01/25

Standardisation, better finance needed for new nuclear

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EU must be 'honest' about Green Deal: Poland


22/01/25
News
22/01/25

EU must be 'honest' about Green Deal: Poland

Brussels, 22 January (Argus) — The EU must undertake a "full and very critical" review of the bloc's Green Deal, Polish prime minister Donald Tusk told the European Parliament. Tusk outlined Warsaw's view on climate and energy policies during the country's recently-started six-month presidency of the EU's council of ministers. "If we go bankrupt no-one will care about the world's environment any more," Tusk said, calling for an honest, full and "very critical review of all regulations, including those arising from the Green Deal". Launched in 2019 under the previous European Commission term, also led by president Ursula von der Leyen, the Green Deal was adopted in 2023 and notably included revisions of the emissions trading system (ETS) to support a steeper 55pc reduction in the bloc's greenhouse gas (GHG) emissions by 2030. Tusk wants any review to identify and change EU laws that may lead to higher energy prices. "There is, for example, the issue of ETS 2 in front of us," he said, singling out the separate trading system covering emissions from road transport and heating fuels, which is scheduled to launch in 2027. "I would also ask you to reflect deeply, critically and bravely on the consequences of introducing ETS 2 at such a rapid pace," he told parliament. Poland holds the EU council presidency until the end of June. Any legal changes to the ETS would require a majority within parliament and a qualified majority of the 27 EU member states. But several, including France, Germany, Sweden and Austria, have been outwardly reluctant to tweak climate legislation and delay the introduction of the ETS 2. "Our union will only survive if we continue to implement the Green Deal, the sole instrument capable of ensuring the survival of our planet," warned Spanish MEP Iratxe Garcia, leader of parliament's second largest group, the centre-left S&D. By Dafydd ab Iago Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

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Trump puts US climate risk disclosures on the outs


21/01/25
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21/01/25

Trump puts US climate risk disclosures on the outs

Houston, 21 January (Argus) — US President Donald Trump revoked an executive order by his predecessor on Monday that required federal agencies to take steps to assess climate-related risks to the country's economy. The order revocation comes as part of a flurry of repeals and executive orders from Trump in his first days in office. The move, along with withdrawing the US from the Paris Climate Agreement, is in line with Trump's plans to distance his administration from former president Joe Biden's environmental goals, following campaign promises to focus on a deregulatory agenda and increase US oil production. "Climate extremism has exploded inflation and overburdened businesses with regulation," the executive order said. Biden issued his executive order in 2021 directing the federal government to take steps to assess climate risk impacts on the financial system, homeowners and businesses and then help inform the government and investors of those risks. It also required the identification of public and private financing needs to meet the Biden administration's net-zero emissions target for the US economy by 2050. But some of Biden's plans were already on their way out in the final days of his administration, while others are likely to be revisited by the government under Trump. The US Department of Defense (DOD), National Aeronautics and Space Administration (NASA), General Services Administration (GSA) on 13 January withdrew their proposed rule to amend the Federal Acquisition Regulation, which would have required major federal suppliers to publicly disclose GHG emissions and climate-related financial risk along with setting science-based GHG reduction targets in line with the executive order. The agencies cited a lack of time to finalize the rule, first proposed in 2022, before the end of the Biden administration. The lack of Trump support for federal climate-change disclosures is likely to slow progress on creating a national framework for measuring the impact of climate-change on US financial systems, investments, and housing among other sectors. The impact is likely to leave federal agencies unprepared to handle the aftermath, according to non-profit group Ceres. "Without comprehensive data and planning frameworks in place, federal agencies will be ill-equipped to protect taxpayer investments, ensure continuity of critical services, and build resilience against growing climate-related threats," said Steven Rothstein, managing director of the Ceres Accelerator for Sustainable Capital Markets. With the departure of US Securities and Exchange Commission's (SEC) chairman Gary Gensler on Monday, Trump's Republican replacement, acting chairman Mark Uyeda, will likely revisit the SEC's related disclosure requirements . Under a rule finalized last year, companies publicly listed in the US must begin disclosure of climate-related information by March 2026. But state-level action will continue even if the federal government unravels the previous administration's disclosure requirements. California has already mandated these disclosures. SB 261, signed by governor Gavin Newsom (D) in 2023 , requires companies operating in the state with revenues of $500mn/yr or more to biennially report, starting in 2026, the immediate and long-term climate-related financial risks within their operations and supply chain. The California Air Resources Board is taking public feedback to develop the regulations through July, with disclosures beginning in 2026. New York is also considering similar requirements. By Denise Cathey Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

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