Cop: New climate finance pledges thin at Cop 31

: Emissions
26/11/14

Just a handful of countries have made new climate finance commitments at the UN Cop 31 climate summit so far, and these are substantially lower than at previous Cops, while developed nations emphasise existing finance provision.

Canada this week announced C$116mn ($81mn) in new climate finance for emissions mitigation and resilience projects. It is the first new funding under the country's goal, announced in April, to deliver C$13bn in climate support to developing countries in the next five years. Canada has provided over C$14.3bn in international climate finance since 2015, which is expected to reduce or avoid nearly 658mn t in emissions by 2050, the Canadian government said.

Norway announced several commitments this week totalling 316mn Norwegian kroner ($33mn), to programmes including the UN Environment Programme and UN and World Bank disaster recovery funds. It also made a further contribution, of 600mn NKr, to Brazil's Amazon Fund and committed 1bn NKr to Indonesia, both for action against deforestation.

The Solomon Islands, one of the most vulnerable nations to climate change and a UN-designated least developed country, this week committed $400,000 to the UN Green Climate Fund (GCF) — the world's largest climate fund.

"We may be a small island nation with limited resources, but we are determined to show leadership", Solomon Islands prime minister Matthew Wale said. "We have stepped forward, and now we call on the world's largest economies to do the same", he added.

The contribution is the first for the GCF's next replenishment round. The GCF lost funding of $4bn when the US withdrew from the fund in February 2025 and cancelled remaining financial commitments. And several developed nations have lowered international development assistance — which climate finance usually falls under — as they face inflationary pressures and increased defence spending.

Climate finance, for developing countries to implement an energy transition and tackle the effects of climate change, is typically both the central topic and the main point of contention at Cops. Developing countries have called at Cop 31 for finance to help them transition, while developed nations are emphasising their existing commitments to climate finance provision. The EU said ahead of the Cop that it would not accept additional agenda items on finance.

Countries agreed on a new climate finance target for 2035 at Cop 29 in 2024, and will not be negotiating new overarching targets at this summit. But a reference to the accessibility of such finance could be included in an outcome text, including the cover decision.

By Georgia Gratton

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26/11/14

Cop: US Democrats hope to revive energy incentives

Antalya, 14 November (Argus) — US Democratic lawmakers hope to use their new majority in Congress to revive clean energy tax incentives undone by Republicans last year. Some members of House of Representatives believe bringing back the various tax credits for wind, solar and other resources can win bipartisan support and be one way they answer the message voters sent in the recent midterm elections . The Democrats will hold about 260 seats in the House and 55 in the Senate next year, giving them significant control of the legislative agenda. Democrats will have opportunities "to revive what we already accomplished in the Inflation Reduction" and move other policies to they believe will boost clean energy and help the economy, according to representative Raul Ruiz (D-California). "They were voting against the actions of this administration that have raised costs", Ruiz said on Saturday at the UN Cop 31 climate summit in Antalya, Turkey. In addition, the clean energy incentives can win support from the other side of the aisle, according to representative Yassamin Ansari (D-Arizona), "because of how many jobs they produce." Ansari said that last year she heard from a local union president, a Republican, who as "flabbergasted and confused" as to why members of the state's congressional delegation were going to vote on something that would lead to the loss of jobs. Trump and the Republican-controlled Congress last year unwound much of the Inflation Reduction Act enacted under former president Joe Biden, including renewable energy tax credits , electric vehicle incentives and billions in funding for clean energy projects. At the same time, Democrats are mindful that Trump is still the president and they may not enough votes to override any veto of their legislation. "But I think it is important for us to be as ambitious as possible across the board and give the president the opportunity to veto popular policies, if that's what he chooses to do", Ruiz said. Democrats also plan to develop other proposals that could aim to expand clean energy access, improve the electricity grid and support new technology development, representative Cathy Castor (D-Florida) said, citing a suite of policy ideas some members of Congress released in September in conjunction with the Sustainable Energy and Environment Coalition. The next step is to "hammer out into legislation" these recommendations, she said. The three Democrats are part of an 18-member House delegation that arrived in Antalya on 13 November. By Michael Ball Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

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Carbon-In focus: Electrification gains momentum at Cop

26/11/13

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26/11/13

Carbon-In focus: Electrification gains momentum at Cop

London, 13 November (Argus) — The first week of Cop 31 in Antalya was defined by an attempt by the Australia-Turkey presidency to shift the conversation from abstract climate targets towards implementation. The summit opened with a relatively smooth agreement on the formal negotiations agenda, but attention increasingly gravitated towards political initiatives outside the formal UN process, particularly Turkey's flagship "35-by-35" electrification goal, methane reduction efforts and renewed debates around the Cop 28 commitment to transition away from fossil fuels. Underlying nearly every discussion was the same tension: broad support for accelerating decarbonisation, coupled with continuing disagreement over fossil fuels, transition pathways and who pays for the transition. Against a backdrop of energy security concerns amplified by the Middle East crisis and supply disruptions, countries repeatedly framed climate action through the lens of economic resilience, industrial competitiveness and national circumstances. Negotiations agenda The conference got off to a relatively orderly start after parties swiftly adopted the formal agenda. But reaching agreement required shelving some of the most contentious proposals. African countries had sought dedicated agenda items on trade-related climate measures and adaptation finance. Neither ultimately made it onto the final agenda. Instead, parties agreed to establish a dedicated climate finance work programme focused on the provision of finance from developed to developing countries, creating a space where adaptation finance discussions can continue without reopening broader negotiations. For many negotiators, the rapid adoption of the agenda avoided the procedural battles that have delayed previous Cops. Yet the compromise also revealed where negotiations are likely to remain difficult. Finance continues to dominate concerns among developing countries. While developed countries insist they are focused on delivering the existing $300bn/yr climate finance commitment agreed at Cop 29, many developing nations continue to argue that significantly larger flows will be required to support mitigation, adaptation and resilience. Another notable feature of the opening week was what remained outside the formal negotiating process. Debates around transitioning away from fossil fuels, Turkey's electrification initiative and various sectoral pledges largely took place under the action agenda rather than formal UNFCCC negotiations. Cover decision wish list Tensions became clearer on Friday, when the Cop 31 presidency released an informal "wish list" of themes that countries may wish to see reflected in the eventual cover decision — an overarching political text led by the event's presidency, which can address themes that are not part of official negotiations. The document included references to Turkey's 35-by-35 electrification goal, methane reductions, adaptation finance, Article 6 cooperation and follow-up work on Cop 30's roadmaps for transitioning away from fossil fuels and forests. While many parties welcomed the paper as a basis for discussion, reactions exposed significant divisions. Several countries argued the text risked being repetitive and internally inconsistent. Others emphasised that any cover decision must remain consensus-based and avoid introducing top-down sectoral targets. Oil and gas producers are expected to scrutinise several elements closely. The methane section explicitly references venting and flaring in the oil and gas sector, while references to transition-away roadmaps could reintroduce politically contentious debates that many countries sought to keep outside formal negotiations. On finance, the proposal to pursue efforts to triple adaptation finance by 2035 is likely to face resistance from developed countries, many of which have already signalled reluctance to take on additional commitments beyond existing pledges. France welcomed the stronger focus on methane but signalled caution regarding electrification language. As one French official noted, electrification is a means of decarbonisation rather than an objective in itself, summarising a concern voiced repeatedly during the week. Turkey's 35-by-35 electrification pledge The most prominent political initiative of the first week was Turkey's proposed goal of increasing electricity's share of global final energy consumption to 35pc by 2035, up from roughly 20pc today. Support emerged quickly among developed economies. The UK, Australia, South Korea, Germany, Italy, Finland, Norway and several Pacific nations backed the initiative. European Commission officials suggested support "in principle" is widespread, although many governments have yet to formally endorse it. Supporters framed electrification as a pragmatic response to both climate change and energy security concerns. Australian prime minister Anthony Albanese argued electrification can "reduce global dependence on fossil fuels, enhancing energy security and independence". He linked the initiative directly to recent geopolitical disruptions, including the Strait of Hormuz crisis, and warned the world remains off track, heading towards only around 25pc electrification by 2035 absent stronger action. Turkish president Recep Tayyip Erdogan similarly cast electrification as a matter of energy independence as well as climate policy. He stressed that the initiative is intended to mobilise financing, technology and international cooperation rather than impose a uniform pathway. Turkey's own plans include expanding solar and wind capacity to 120GW by 2035, while it also develops nuclear generation as a source of low-emission electricity. South Korea's special envoy Kang Kumsil described the goal as consistent with Seoul's ambition of becoming an "electro-state". Finland highlighted that around 70pc of its energy system is already electrified and that 96pc of its electricity generation comes from clean sources. But support was far from unconditional. Several European countries, including France, have argued that electrification targets should be explicitly linked to clean electricity. Critics warned that increasing electricity demand alone would do little for the climate if new power generation remains fossil-fuelled. Former US climate envoy John Kerry captured that concern when he warned that electrification "is not going to solve our problem" if the electricity comes from fossil fuels. Another fault line emerged around fuel neutrality. Russia, Colombia and Venezuela argued that electrification pathways should remain technology neutral and continue to recognise natural gas and LNG as legitimate transition fuels. Russian climate envoy Ruslan Edelgeriev rejected what he called the politicisation of climate policy and advocated the use of "the entire spectrum of available economically sound technologies", including gas, LNG, nuclear power, CCS, hydrogen and biofuels. Colombia similarly promoted natural gas as a transition fuel capable of delivering immediate emissions reductions while preserving energy security. Climate-vulnerable countries broadly welcomed electrification but insisted it must not substitute for direct action on fossil fuels. Marshall Islands president Hilda Heine warned that electrification risks becoming a distraction if not explicitly tied to replacing fossil fuels. Tuvalu prime minister Feleti Teo similarly argued that adaptation alone cannot save vulnerable nations and reiterated the need to phase out fossil fuels and accelerate renewable energy deployment. UN secretary-general Antonio Guterres delivered perhaps the week's strongest rebuttal to fossil fuel dependence, warning that new oil and gas projects risk locking countries into costly stranded assets and arguing that "real energy security means breaking this dependence". Together, those interventions revealed a central question likely to dominate week two: whether the electrification pledge can remain a broad coalition-building initiative or becomes drawn into wider disputes over fossil fuel phase-down and transition pathways. Transitioning away from fossil fuels Although not formally negotiated, debates around transitioning away from fossil fuels re-emerged repeatedly during the week. Discussion was heavily influenced by the Cop 30 fossil fuel transition roadmap unveiled by Brazil. Many developing countries welcomed the document precisely because it recognised differing national circumstances rather than prescribing specific pathways. Nigeria, Indonesia and other emerging economies repeatedly emphasised that energy transitions cannot occur without substantial financial support. Several countries highlighted dependence on fossil fuel revenues, while others stressed domestic energy security concerns. At the same time, vulnerable countries and UN officials pushed for stronger implementation of the Cop 28 commitment to transition away from fossil fuels. Marshall Islands, Tuvalu and Palau all argued that the Antalya summit should focus less on new declarations and more on implementing commitments already made. The result was a familiar Cop dynamic: broad acceptance of the ultimate direction of travel, but continuing disagreement over pace, responsibilities and the role of transition fuels. Growing convergence on methane Methane arguably represented the clearest area of momentum during week one. France led calls for methane language to be included in the final summit decision, arguing the issue should move beyond voluntary coalitions and become embedded within wider climate governance. Paris advocated near-zero methane intensity in the oil and gas sector by 2030 alongside the elimination of routine flaring. The push received support from countries including Australia, Norway, Germany and Barbados. While disputes remain over sectoral scope, particularly whether the focus should remain on fossil fuel emissions or expand further into agriculture and waste, few parties openly challenged the need for stronger methane action. This growing emphasis was reflected in the presidency's cover-decision wish list, where methane featured prominently alongside electrification. Article 6 focus on better implementation Discussions around carbon markets highlighted growing concern about implementation quality rather than rule design. Negotiators largely agreed that Article 6 rules should not be reopened before the scheduled 2028 review. Instead, attention focused on improving reporting, review processes and consistency across participating countries. UN reviews have identified shortcomings in initial Article 6 reporting, including incomplete baselines and weak alignment with national climate plans. But most government negotiators characterised these problems as early-stage growing pains rather than evidence of fundamental flaws. There were also broader discussions around carbon market cooperation. Turkey, China and Ethiopia launched a joint initiative on high-quality carbon credit market cooperation, while UNCTAD announced plans for a global carbon market network designed to improve interoperability and transparency. Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

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Cop: Presidencies release cover decision wish list

26/11/13

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26/11/13

Cop: Presidencies release cover decision wish list

Edinburgh, 13 November (Argus) — The UN Cop 31 climate summit presidencies — Australia and Turkey — today published an informal list of themes countries would wish to address in a potential cover decision for the talks, including Turkey's electrification pledge, methane reductions and tripling finance adaptation. Today's note is meant to support discussions among parties, the Cop 31 presidencies said. Negotiations on the potential cover decision — an overarching political text led by the event's presidency, which can address themes that are not part of official negotiations — will start in earnest next week when ministers are due to arrive at the summit. "The document raises a long list of options, but sometimes in a contradictory and repetitive way," climate think-tank the World Resources Institute (WRI) said. Some parties commented on the need to not reopen negotiations, to make a distinction between the action agenda and negotiations and the importance of consensus. Some parties said there is "value in sending signals", but the text should not have "top-down targets, should not target specific sectors or energy sources, technology neutral" and not put additional pressure on budgets. At the same time, the section about increasing the share of electrification in final energy consumption globally to 35pc by 2035 talks about renewables and clean sources, and the text on methane clearly refers to the oil and gas industry as it mentions venting and flaring. This is likely to face opposition from major oil and gas producing countries. Saudi energy minister Prince Abdulaziz bin Salman said on 12 November that the expansion of electrification does not necessarily mean cutting emissions depending on the production sources. "The ultimate end is to cut emissions regardless of their sources. The kingdom reiterates that what unites us is the objective and not necessarily the track to achieving it," he said. Some parties in the list also "welcome" the Cop 30 presidency roadmaps on transitioning away from fossil fuels and forests and talk about "forward work" on this, although no details were given. This is also likely to face opposition by key parties which had signalled early on that the roadmaps should stay outside the negotiation process. The cover decision has some "positive points", notably on methane which France had asked for, even if it could be more precise and have a timeline, sources at the French climate ministry said, adding that the country will pay attention to the language on the 35 by 35 target in the upcoming negotiations. "Electrification is not an end in itself, electrification is a means of decarbonising," the source said. The Turkish Cop 31 presidency has set out a broad voluntary "35-by-35" global goal for electricity to reach 35pc of global final energy consumption by 2035, up from around 20pc currently, which could serve as a base for language in the cover decisions, according to some observers. Countries have started to come out in support of Turkey's electrification goal and more could signal interest in the second week of Cop 31. Support "in principle" for the goal is very wide, but it has not translated into a large number of countries coming out in favour of it officially, European Commission director for climate finance Diana Acconccia said today. She added that this could change when the ministers arrive to continue the negotiations in the second week of the summit. On finance, the list mentions following through on the $300bn/yr finance pledge by developed countries to developing countries and "pursuing efforts to at least triple adaptation finance by 2035". Adaptation finance language is likely to face developed countries' scrutiny. The EU said before the summit that there is no room for additional climate finance commitments at Cop 31 . "We are committed to deliver on [the $300bn/yr goal], Germany's state secretary at the environment ministry Heike Henn said today. But the US is no longer at the table and that makes a difference, she said, adding that finance discussions are also difficult for the countries that provide it. The presidency list for cover decision themes also acknowledges the value of co-operation under Article 6. By Caroline Varin and Georgia Gratton Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

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Cop: US CBAM unlikely absent new Republican support

26/11/13

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26/11/13

Cop: US CBAM unlikely absent new Republican support

Antalya, 13 November (Argus) — Carbon border fee legislation is unlikely to emerge from the US Congress until it gets Republican "champions" to support it, according to a top Senate Democrat. While there is a "pretty solid foundation of work" that has been done on such a carbon boarder adjustment mechanism (CBAM) for the US, the loss of two Republican supporters will make it hard to get through Congress, even as Democrats are poised to hold sizeable majorities in both the Senate and US House of Representatives next year, US senator Sheldon Whitehose (D-Rhode Island) said on Friday. "We'd need Republican champions to step up", Whitehouse told reporters at the UN Cop 31 climate summit in Antalya, Turkey. The idea of a CBAM, which would impose a fee on imports that do not meet greenhouse gas (GHG) emissions benchmarks, had attracted some Republican support in recent years as a way to address trade imbalances with China. US senators Bill Cassidy (R-Louisiana) and Lindsey Graham (R-South Carolina) crafting legislation to set the foundation for a potential border fee. Whitehouse has also worked on legislation. The Senate Environment and Public Works Committee passed the bill in 2024, but it never came to a vote by the full chamber. Cassidy sought reelection this year but lost his party's primary in May, while Graham passed away in July. "It's certainly not impossible for others to emerge", Whitehouse said, adding President Donald Trump's favor toward using tariffs could provide an opening. Whitehouse often refers to the CBAM as the "last lifeboat" available for countries to reduce GHG emissions enough to avoid the worst consequences of climate change. "We're now at a point where if we're not putting a price on carbon pollution, it's game over", he said. Whitehouse also said he hopes that governments that have already put a CBAM in place such as the EU and UK, or are considering it, to grant a waiver to the state of California in recognition of its large economy and climate policies. "The disruptive effect within our country of the good player, California, being given this benefit would be extremely powerful in moving other states along", he said at a separate event at the Cop. By Michael Ball Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

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Cop: Sweden, Ivory Coast sign Article 6 agreement

26/11/13

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26/11/13

Cop: Sweden, Ivory Coast sign Article 6 agreement

Berlin, 13 November (Argus) — Sweden and Ivory Coast signed a bilateral agreement under Article 6.2 of the Paris climate agreement on the sidelines of the UN Cop 31 climate conference in Antalya, Turkey, on Friday, enabling Sweden to finance emissions reductions in Ivory Coast and count them towards its own emissions-reduction targets. As an EU member, Sweden will not count the reductions against its nationally determined contribution (NDC) to the Paris Agreement, which comes under the EU's NDC, but to go beyond its mandatory reductions. This is the first Article 6.2 agreement for Ivory Coast. Article 6.2 provides a framework under which countries sign bilateral agreements, typically with a host country receiving finance from a developed country to carry out activities reducing greenhouse gas (GHG) emissions, in exchange for which the developed country may use the achieved emissions cuts, in the form of so-called internationally transferred mitigation outcomes (Itmos), against its NDC. Swedish Article 6 activities in Ivory Coast focus on sustainable transportation, renewable energy and green transition, and are carried by the Global Green Growth Institute (GGGI) with the support of the Sweden-financed Article 6 Climate Cooperation Facility (ACCTIF), the Swedish Energy Agency said. GGGI also supports Article 6 "readiness" in Ivory Coast. Sweden has so far signed Article 6.2 agreements with the Dominican Republic, Ghana , Kenya , Nepal, and Zambia , along with a memorandum of understanding with Rwanda. Sweden has also signed a memorandum of understanding with Switzerland allowing for the transfer of a "symbolic" amount of Itmos from captured industry emissions between the two countries. The sale from Sweden to Switzerland will be a simulated Itmo transaction, whereas the sale from Switzerland to Sweden would consist of a transfer of 2t, which the agency expects to take place in early 2027. By Chloe Jardine Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

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