China is braced to become a green technology powerhouse even before it transitions towards a green economy. Although having to manage a huge carbon stock, after relying mainly in coal and oil to fuel its economy for many decades, China has become the world’s major investor in clean energy. More »
Rio+20 can still arrive at a relevant outcome in spite of the dismal results of three rounds of negotiation at the United Nations headquarters in New York. But this outcome will certainly fall short of expectations and scientific requirements. The most a meeting with the characteristics of Rio+20 could achieve is to decide on a set of minimum ground rules for countries to build the architecture for a future green, low-carbon, low ecological footprint economy. More »
Brazil wants an ambitious outcome to the Rio+20 summit. Diplomats say, however, that they will work to prevent this outcome from being exclusively oriented towards environmental issues.
Last week, China’s National Development and Reform Commission reportedly directed seven regions to set overall emissions control targets and submit proposals for how caps should be allocated. The directive, which encompasses the cities of Beijing, Chongqing, Shanghai, Shenzhen and Tianjin and the provinces of Guangdong and Hubei, aims to establish cap-and-trade pilot projects for the country’s carbon market, meant to be in place by 2015. More »
Two new standards were published this week for businesses to measure, manage, and report their greenhouse gas emissions. The guidelines, jointly developed by the World Resources Institute (WRI) and the World Business Council for Sustainable Development (WBCSD), were launched under the Greenhouse Gas Protocol, an “international accounting tool for government and business leaders to understand, quantify, and manage greenhouse gas emissions”. More »
The International Monetary Fund, the World Bank and other international groups are expected to present a paper on climate finance at the G20 meeting this Friday in Washington. It recommends a sharp reduction of subsidies for fossil fuels, putting a price tag of $25 per ton on carbon emissions, and collecting a surcharge on bunker fuels to raise money for climate finance. More »