By Sharon Kimathi, Energy and ESG Editor, Reuters Digital |
Hello! Nations are at odds over fossil fuel cuts this week. One camp is pushing for a decisive shift away from the role of coal, oil, and gas, while the other clings to its use. Climate-vulnerable nations like the Marshall Islands are pleading for cuts, while the European Union has agreed to dilute combustion engine regulations, as the UK scales back its fossil fuel-reducing legislation. With two months left until the United Nations COP28 summit, countries are far from bridging the gap between those demanding a deal to phase out planet-warming fossil fuels and nations insisting on preserving a role for coal, oil and natural gas. The COP28 conference in Dubai scheduled between Nov. 30 and Dec. 12 is seen as a crucial opportunity for governments to accelerate action to limit global warming, yet countries remain split over the future of fossil fuels - the burning of which is the main cause of climate change. |
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Marshall Islands' President David Kabua addresses the 78th Session of the U.N. General Assembly in New York City, U.S. REUTERS/Eduardo Munoz |
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Meetings at the United Nations General Assembly (UNGA) last week reignited the long-rumbling debate, with climate-vulnerable nations like the Marshall Islands pleading for wealthier ones to quit polluting fuels and to invest in renewable alternatives. "Humanity has opened the gates to hell" by heating the planet, U.N. Secretary General Antonio Guterres told a one-day climate summit held alongside the general assembly, where he lamented the "naked greed" of fossil fuel interests. |
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European Union ministers agreed on Monday to water down an initial European Commission proposal on new vehicle emissions after eight states including France and Italy said the changes could divert investment from the electric vehicle industry. The European Union has been progressively tightening road vehicle emission limits since 1992, and the Commission's latest proposed rules, called "Euro 7", were to introduce new standards on particle emissions from brakes and tyres. Italy, the Czech Republic, France and five other states pushed for weaker rules, however, on concerns that the proposed limits on pollutants such as nitrous oxides in combustion engines would divert development work and investment away from electric vehicle (EV) cars. |
This comes as Britain's decision to delay a ban on new fossil fuel car sales drew anger from automakers worried about supply chains and investment uncertainty. UK Prime Minister Rishi Sunak, who is expected to face a tough election in 2024, said the five-year delay to 2035 was not political and was about "doing what's right for the country". Under the new mandate that the government could make public as early as this week, the 80% 2030 electric target should remain – with the other 20% a mixture of fossil fuel models and hybrids until 2035. According to the Climate Change Committee's June 2023 progress report to parliament, to hit mid-way climate targets, Britain must quadruple its annual emissions reductions outside the electricity supply sector by 2030. The committee, an independent body set up under Britain's climate change law, had already said in 2022 that the country's strategy "will not deliver net zero". |
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The summer Antarctic sea ice extent also hit a record low in February, breaking the previous mark set in 2022. REUTERS/Ueslei Marcelino/ |
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- Sea ice that packs the ocean around Antarctica hit record low levels this winter, the U.S. National Snow and Ice Data Center (NSIDC) said, adding to scientists' fears that the impact of climate change at the southern pole is ramping up.
- Hollywood's writers union reached a preliminary labor agreement with major studios, a deal expected to end one of two strikes that have halted most film and television production and cost the California economy billions.
- Deutsche Bank-controlled investment firm DWS will pay $25 million to settle charges over misstatements regarding its environmental, social, and governance (ESG) investing and failures in policies designed to prevent money laundering, U.S. regulators said.
- The mayor of Libya's eastern city of Derna was detained along with other officials on suspicion of mismanagement and negligence over the collapse of dams that flooded the city two weeks ago, Libya's attorney general's office said.
- Ophelia, downgraded to a post-tropical cyclone, brought more rain and wind as it moved along the Atlantic Coast of the United States, forecasters said. The weather system came ashore near Emerald Isle, North Carolina, where it doused the region with torrential downpours and unrelenting winds that caused flooding and widespread power outages.
- Breakingviews: Although relations between Hollywood scribes and the studios that employ them are starting to warm up, Reuters Breakingviews columnist, Jennifer Saba, writes about the flaws that still remain in the entertainment industry from acting to distribution.
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Mike Childs, head of policy at UK-based environmental organization, Friends of the Earth, shared his thoughts on the country's fossil fuel car ban delay: "Rishi Sunak is being environmentally reckless and economically inept. "Building a green economy is the best way to tackle the cost-of-living crisis, boost energy security and strengthen the economy. Weakening these green policies will simply undermine business confidence and put British jobs at risk. "The government is already being taken to court over its weak and feeble climate action plan, which we say is unlawful. If this current package is weakened further, and in a way that's not transparent about delivery risks, then further legal challenges are inevitable. "With the world in the midst of a climate crisis we need bold political leadership – not another Prime Minister posturing to a narrow section of his own party for perceived short-term electoral gains. The consequences won't just fall on people in the UK – they will reverberate globally." |
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Ford Motor said that despite progress in some areas, it still has "significant gaps to close" on key economic issues before it can reach a new labor agreement with the United Auto Workers union. The "issues are interconnected and must work within an overall agreement that supports our mutual success," it said in a late evening statement after talks over the weekend. The UAW, which on Friday cited "real progress" in talks with the No. 2 U.S. automaker, did not immediately comment. |
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Lego looks to ditch oil-based plastics. Sets of Lego bricks are seen at a toy store in Bonn, Germany. REUTERS/Wolfgang Rattay/File Photo |
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Today's spotlight highlights carbon emissions-cutting solutions from the private sector to the public sphere in Europe as Lego looks to ditch oil-based plastics whilst France replaces residential duel and gas heaters with heat pumps. Danish Toymaker Lego has abandoned its most high-profile effort to ditch oil-based plastics from its bricks after finding that its new material led to higher carbon emissions, the Financial Times (FT) reported. Lego found that bricks made from recycled polyethylene terephthalate (RPET), would lead to higher carbon emissions. "We tested hundreds and hundreds of materials. It's just not been possible to find a material like that," Lego Chief Executive Niels Christiansen told the FT. |
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France's President Emmanuel Macron speaks at the opening of a special climate meeting at the Elysee Palace in Paris, France. Michel Euler/ Pool via REUTERS |
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France wants to replace residential fuel and gas heaters with heat pumps and create an industry to make the device in a bid to reduce greenhouse gas emissions, French Environment Minister Christophe Bechu said. As part of a multi-year environmental plan announced by President Emmanuel Macron on Monday, France plans to phase out its few remaining coal-fired power plants, encourage the French to ditch thermal engines for electric cars and promote heat pumps as a way to heat houses. |
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"The government's move to delay key green targets has undoubtedly caused a ripple effect of uncertainty amongst businesses and investors in the UK. What we need is clarity and confidence on how we can achieve net zero, and commitment to providing solutions and initiatives that can get us there." Chris Maclean, CEO of UK-based sustainable energy procurement platform, True |
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- Next week the team behind the Daily Briefing is launching One Essential Read. This newsletter will highlight a standout story each day diving deeper into the news – from exclusive reporting and long reads to photo essays and interactive graphics. Sign up here.
- Sept. 27, Los Angeles, United States: The U.S. government will offer 67 million acres in the Gulf of Mexico to oil and gas drillers at an auction mandated by President Joe Biden's landmark climate change law.
- Sept. 27, California, United States: President Joe Biden meets with the President's Council of Advisors on Science and Technology (PCAST) in San Francisco.
- Sept. 27, Strasbourg, France: Six children and young people, all residing in Portugal, filed an action against Portugal and 32 other States for their joint failure to cut greenhouse gas emissions in line with the 2015 Paris Agreement.
- Sept. 27, London, Great Britain: Conference on ethnic diversity and inclusion, with speakers from Financial Conduct Authority expected ahead of the regulator's rules on increasing diversity.
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