Countries launch climate initiatives, will update NDCs

Major economies launched new decarbonisation initiatives and announced forthcoming updates to their nationally determined contributions (NDCs) on 17 June at the Major Economies Forum, as the UN secretary general Antonio Guterres called for bolder climate action.

Several countries are updating or intend to enhance their nationally determined contributions (NDCs). The Glasgow Climate Pact — which was adopted at the UN Cop 26 climate summit in November 2021 and aims to hasten climate action this decade — asked countries to revisit their 2030 NDCs and if necessary, strengthen their targets to align with Paris agreement goals.

Australia's new government last week submitted an enhanced NDC, which aims to reduce its greenhouse gas (GHG) emissions by 43pc by 2030, from a 2005 baseline.

Chile and Vietnam intend to update their NDCs, while Indonesia is "in the process" of amending. Turkey said it will submit an updated NDC by the end of this year, and Egypt — which is hosting the UN Cop 27 climate conference in November — is likely to do the same, as it said it is putting the "finishing touches" to its plan. Mexico and the UAE will submit enhanced 2030 NDCs this year.

The US and EU established a new global methane pledge pathway, calling for the elimination of routine flaring as soon as possible, and no later than 2030. Participants cover two-fifths of global gas production and three-fifths of global gas imports, and the initiative has $59mn in funding "and in-kind assistance," according to the US. This builds on the global methane pledge announced at Cop 26.

Globally, around 210bn m³ of gas could be made available if producers cut non-emergency flaring and stopped leaks, the IEA estimates.

Guterres warned leaders of "the danger of fossil fuel expansion," in the context of Russia's invasion of Ukraine. "Renewables are the peace plan of the 21st century," he told the forum. He called on countries to "triple public and private investment in renewables to at least $4 trillion dollars a year," as well as speed up permitting for renewables and switch fossil fuel subsidies to "vulnerable people that want to engage in the green economy".

A group of 10 jurisdictions — including the US, UK, EU and Germany — set a goal for zero-emissions vehicles to make up 50pc of new light-duty vehicles sales by 2030. The EU on 8 June adopted a legal report establishing 100pc emissions reductions for cars and vans by 2035 from 2021 levels — which would effectively constitute a ban on new gasoline and diesel light-duty vehicle sales from 2035. The final legislation has yet to be agreed with member states. The UK will end the sale of new cars and vans with internal combustion engines by 2030, with all new cars and vans set to be "fully zero emission" from 2035.

The US and EU plan to invest over $50bn in support of the clean energy technologies demonstration challenge, the focus of which is commercial-scale projects that will help to reach net zero emissions by 2050. Public funding totalling $90bn is needed by 2026, IEA research shows, and countries will submit action plans and announce investments at the global clean energy action forum in September, Washington said.

The US and Egypt will collaborate to focus on climate adaptation and resilience in Africa, Washington said.

Several major economies reiterated their support for the green shipping challenge, working towards full decarbonisation for the global shipping sector by 2050.

By Georgia Gratton