G20 developing climate disaster prevention tools

Spanish Market: Emissions
01/08/24

The G20 Disaster Risk Reduction group met in Rio de Janeiro this week, laying out priorities for the economic group to prevent climate disasters.

The priorities established by the group include combating inequality; reducing vulnerabilities; creating a global alert system and more resistant infrastructure; and finding strategies to finance these projects. One such option would be to tax the super-rich, the group said.

The group drafted an initial document on the issues, referred to as "0.0 version", to "formulate a ministerial message to be approved in November" when the full G20 meets in Rio de Janeiro, Brazil.

This was the second time the group met this year. The goal was not to reach a consensus, but begin talks on the subject.

"I think the environment is very auspicious for us to reach a consensus for a ministerial declaration at the end of this working group," said Wolnei Wolff Barreiros, coordinator for the Disaster Risk Reduction group and secretary of civil defense and protection of Brazil's integration and regional development ministry.

UN agencies have also worked on early warning services for extreme weather events, such as the Systematic Observations Financing Facility started in 2022. The UN development programme and the UN office for disaster risk reduction are also working with the World Meteorological Organization to develop a new tracking system to record and analyze extreme weather, water and climate-related events and the loss and damage caused.

The G20 Disaster Risk Reduction group was first suggested by India last year, when the Asian country held the G20 presidency. Brazil has the chair this year.

Brazil's southern Rio Grande do Sul state faced massive floods in late April and early May. The weather event left over 180 dead and displaced around 600,000 people.

By Lucas Parolin

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12/06/25

Malaysia’s oil, gas projects to emit 4bn t GHG: CREA

Singapore, 12 June (Argus) — Malaysia's continued extraction and use of its oil and gas resources could emit around 4bn t of greenhouse gases (GHGs), according to a report by the Helsinki-based Centre for Research on Energy and Clean Air (CREA). Malaysia holds about 9.84bn bl of oil equivalent (boe) in committed fossil fuel reserves, of which 82pc is gas, stated the report, which was written in collaboration with environmental think-tank RimbaWatch. This figure only includes projects with proven reserves that are covered by a production commitment such as production sharing contracts. These committed reserves would also emit an estimated 4.15bn t of CO2 equivalent (CO2e), which is equivalent to 13 years of Malaysia's annual emissions. The emissions will also consist of 10.9mn t of methane, which is a much more potent GHG than CO2. Malaysia's remaining commercially recoverable reserves are estimated at over 17bn boe over more than 400 fields, with gas comprising about 75pc of this. Malaysia launched its national energy transition roadmap (NETR) in 2023, detailing initiatives to achieve its 2050 net zero carbon emissions target, such as renewable energy development, hydrogen and carbon capture, utilisation and storage (CCUS). The country aims to reduce its economy-wide carbon emissions by 45pc in 2030 compared with 2005 levels, under its nationally determined contribution — climate plan — to meet the goal of the Paris Agreement. But at the same time, the country is seeking to maximise its fossil fuel production to ensure energy security. State-owned Petronas raised its total oil and gas production in 2024 to 2.4mn b/d of oil equivalent (boe/d), up by 1pc on the year. Of this, oil production fell by 4.4pc on the year to 813,000 boe/d, while gas output rose by 3.6pc to 1.64mn boe/d. More than 80pc of Malaysia's power was generated from fossil fuels in 2024. The NETR plans to increase the share of gas in total primary energy supply by 16pc from 2023 to 57pc in 2050, with gas viewed as a transition fuel for decarbonisation. But "referring to gas as sustainable, and claiming that Malaysia can achieve net-zero emissions through growing gas, are oxymorons," stated the report. Petronas' Scope 1 and 2 greenhouse gas emissions totalled 46.04mn t of CO2e across its Malaysian operations in 2024, surpassing its target of 49.5mn t of CO2e for the year. In comparison, the firm recorded 45.6mn t of Scope 1 and 2 GHG emissions in 2023. But the firm's net zero pathway excludes its Scope 3 emissions, which make up about 80pc of a fossil fuel entity's emissions, according to the report. Additionally, its CCUS plans are aimed at enabling sour gas extraction, hence exacerbating fossil fuel production and emissions. Malaysia should instead set a sectoral carbon budget for the domestic energy sector in line with its net zero goals, taking into account both production and consumption, and cement this budget in the country's upcoming Climate Change bill, stated the report. By Prethika Nair Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

EIA raises US 2026 renewables outlook

11/06/25

EIA raises US 2026 renewables outlook

Houston, 11 June (Argus) — The US renewable energy fleet remains on track to provide an increasing portion of the country's total electricity over the next two years, even with some changes in the US Energy Information Administration's (EIA) latest projections. Renewable energy is on track to supply almost 1.1bn MWh in 2025 and 1.2bn MWh in 2026, enough to account for roughly 25pc and 27pc of all US generation in those years, EIA said Tuesday in its monthly Short-Term Energy Outlook report. The 2025 estimate is less than 1pc lower than the agency's forecast in May, while the 2026 outlook is about 2pc higher. Renewables in 2024 generated almost 948mn MWh, about 23pc of all US generation. EIA attributes the higher share from renewables to projects coming on line through the end of 2026. The agency expects developers to add about 32,500MW of utility-scale solar to the grid this year, which would surpass the record high of 30,000MW in 2024. EIA anticipates about 7,700MW of new capacity from the wind sector this year. Wind capacity in 2024 expanded by about 5,100MW, its lowest showing since 2014. The month-over-month change in the larger renewables outlook corresponds with higher expectations for wind and solar generation next year. Wind farms are now on track to provide about 506mn MWh in 2026, while utility-scale solar farms will generate around 350mn MWh, each about 2pc higher from May's outlook. If the solar projection bears out, it would surpass hydropower in 2025 as the second most prevalent form of renewable generation in the US. In the Electric Reliability Council of Texas (ERCOT) territory, EIA expects non-hydropower renewable generators are on pace to supply nearly 179mn MWh in 2025, down by less than 1pc from last month's outlook. But the 216mn MWh now anticipated from the sector in 2026 marks an almost 10pc increase from May's predictions for the Texas grid. EIA's lowered its predictions for non-hydropower renewables in the New York Independent System Operator's footprint by less than 1pc for 2025 and by 4pc for 2026, to 11.5mn MWh and just under 13mn MWh, respectively. Revisions to other regional forecasts were minimal. EIA increased its expectations for non-hydropower renewables in the areas managed by the PJM Interconnection, ISO-New England and Midcontinent Independent System Operator by less than 1pc for both 2025 and 2026. Renewable energy resources for EIA's purposes include conventional hydropower, wind, solar projects larger than 1MW, geothermal and certain forms of biomass. By Patrick Zemanek Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

EU eyes flexible 90pc GHG cut target by 2040

11/06/25

EU eyes flexible 90pc GHG cut target by 2040

London, 11 June (Argus) — EU commission's climate director general Kurt Vandenberghe suggested today that the commission's proposal next month for a 2040 net greenhouse gas (GHG) reduction could offer more flexibility, without providing details. The 90pc target, compared with 1990 levels, will "hopefully" be agreed with the "necessary flexibilities", he added. He did not say what a more flexible 2040 goal would entail. The proposal to update to the European Climate Law with a headline GHG target for 2040 is due on 2 July . This will be followed up, in 2026, with legal proposals detailing the post-2030 climate architecture, including a revision of the bloc's emissions trading system (ETS) directive. Vandenberghe pointed to the need to ensure ETS revenues from heavy industries go back "at least partially" for their sector's decarbonisation. The commission is also seeking to reassure people that it is "sufficiently pragmatic" about moving to a 90pc GHG cut target, Vanderberghe said. Centre-right EPP's Radan Kanev also wants an "ambitious and realistic" 2040 target around 90pc. But the Bulgarian member of the European parliament notes changes in political majorities for climate action compared to when the bloc's 55pc GHG reduction target and other Green Deal objectives were set for 2030. "At present, we don't have such a majority in parliament," Kanev said. He indicated that few EU states have a local majority for the 90pc target for 2040 and public opinion in Europe was "far from" such a position. The commission is "very attentive" as to fears arising from the extension of the ETS to road transport and heating fuels, Vanderberghe said. "We would not be well served with an ETS extension that leads suddenly to peaks in carbon prices," he said. The commission is also eyeing the agri-food sector for the next decade, which, Vandenberghe said is "notoriously difficult, sensitive." "This is not climate against agri-food, this must be climate with the agri-food sector," he said. The European Scientific Advisory Board on Climate Change (ESABCC) last week called for a 90–95pc domestic reduction target for 2040. A lower target would undermine the bloc's sustainability, long-term competitiveness and energy security, the scientists said. Vanderberghe talked of more flexibility and less prescriptiveness in terms of targets, sub-targets, and detailed rules for 2040. "We may have been overly prescriptive in our framework for the emission reduction target by 2030," he said. He also reiterated the need for carbon removals to achieve net zero by 2050. If ongoing work on the implementation of Paris Agreement's Article 6 works well, "we think we should not deprive ourselves of the possibility of working with international credits as part of our 90pc target," Vanderberghe said. By Dafydd ab Iago Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

May 1.4°C above pre-industrial levels: EU’s Copernicus

11/06/25

May 1.4°C above pre-industrial levels: EU’s Copernicus

Seville, 11 June (Argus) — Global temperatures stood 1.4°C above pre-industrial levels last month, data published by EU earth-monitoring service Copernicus today showed. This marks the second-warmest May on record but dips below the critical 1.5°C marker. The global surface air temperature averaged 15.79°C in May, just 0.12°C below a record high for the month posted last year . This was 0.06°C above the temperature in May 2020, which was previously the second highest recorded, and 0.53°C above the May average over 1991-2020. Temperature levels varied by area, including within Europe, where they stood above average in the west of the region and below average in the east. The global average surface air temperature had exceeded 1.5°C above pre-industrial levels in 21 of the previous 22 months, according to Copernicus data. "Whilst this may offer a brief respite for the planet, we do expect the 1.5ºC threshold to be exceeded again in the near future due to the continued warming of the climate system," Copernicus Climate Change Service director Carlo Buontempo said. The Paris climate agreement seeks to limit the rise in global temperatures to "well below" 2°C and preferably to 1.5°C, to avoid the worst effects of climate change. Two weeks of UN-convened technical halfway point climate talks will begin in Bonn, Germany, next week, ahead of the Cop 30 climate summit in November. By Victoria Hatherick Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

New Zealand sued over emissions reduction plans

11/06/25

New Zealand sued over emissions reduction plans

Sydney, 11 June (Argus) — Two New Zealand environmental-legal groups are seeking a judicial review into alleged failures in government emissions reduction plans. Advocacy groups Lawyers for Climate Action NZ and Environmental Law Initiative (ELI) are waiting for a date at Wellington High Court, when they will seek declarations that climate change minister Simon Watts failed to implement the first (2021-25) and second (2026-30) emissions reduction plans. The coalition that took power at the end of 2023 cancelled 35 climate policies and actions in the first emissions reduction plan set by the previous Labour government without consulting the public first, as required by law, according to the two groups. This included discontinuing programmes such as the Clean Car Discount and cancelling the Government Investment in Decarbonising Industry Fund. The two groups argue that these actions breach the Climate Change Response Act 2002 — the legislation that established the country's emissions trading system and which provides a framework for implementing "clear and stable climate change policies". "In seeking declarations only, Lawyers for Climate Action NZ and ELI are focused on creating a precedent that clarifies how governments can change climate policies and strategies during emission budget periods," the two groups stated on 10 June. The groups also plan to argue that the second emissions reduction plan is "unlawful" and relies heavily on offsetting New Zealand's emissions with forestry plantations. The government projects that an additional 700,000 hectares of tree planting will be required by 2050, despite warnings from the country's Climate Change Commission that tree planting is no substitute for reducing emissions at source, Lawyers for Climate Action NZ and ELI said. "This will be one of the first legal cases in the world challenging a government's pursuit of a climate strategy that relies so heavily on offsetting rather than emissions reductions at source," they added. Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

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