Newbuilds returning to LNG amid green methanol shortages

The World Economic Forum estimates that since 90% of global trade occurs in the ocean, seagoing boats are responsible for nearly 3% of global greenhouse gas emissions. Although there are differing views on how to do this, the shipping industry is committed to stepping up its efforts to reach the Global Maritime Forum’s aim of

Carrier Transicold, GIZ agree to advance cold chain development and decarbonization

Carrier Transicold and the Greener Reefers in International Maritime Transport initiative of the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH have agreed to collaborate to advance cold chain development and training in Costa Rica and South Africa. The memorandum of understanding, which was signed at the 2023 UN Climate Change Conference (COP28) in the United

COP28 nations agree to ‘transition away’ from fossil fuels

The 28th Conference of the Parties of the United Nations (UN) Framework Convention on Climate Change (COP28), hosted by oil exporter United Arab Emirates (UAE), adopted the idea of “transitioning away from fossil fuel” in the final decision text, marking the first instance of such a decision in the three decades of COP’s existence.  This

Shipping leaders set out plans to deliver on IMO emission targets

60 maritime organisations and government partners have agreed on a course to deliver on the International Maritime Organization (IMO)’s net zero targets by or around 2050 at Shaping the Future of Shipping, an event hosted by the International Chamber of Shipping and the government of the UAE on the sidelines of COP28 in Dubai. More

Global renewables and energy efficiency pledge at COP28

On December 2, 118 countries signed a renewable energy pledge at the ongoing COP28 climate summit to triple the world’s green energy capacity to 11,000 GW by 2030, thereby, reducing the reliance on fossil fuels in generating energy. According to the “Global Renewables and Energy Efficiency Pledge”, countries have to “double the global average annual

No progress yet on Global Stocktake, climate finance

Halfway through the UN Climate Summit (COP28) which will come to a close on December 12 there is no progress yet on major aspects of negotiating texts including the Global Stocktake, Global Goal on Adaptation, Climate Finance, though participants can take cheer from the fact that the Loss and Damage fund was operationalised on Day

Global stocktake, and what’s India’s position

The first-ever global stocktake is set to conclude at the COP28 climate summit at the end of this year, the United Nations has said. In the first week of COP28, the draft text for Global Stocktake was formed that called for the phasing out of all fossil fuels. It proposed options for the phase-out of

Activating loss & damage fund small step towards larger cause

The 28th Conference of Parties (COP28) to the United Nations Framework Convention on Climate Change, started on a positive note with the activation of the Loss and Damage Fund (LDF) with an initial commitment of a little over USD 400 million. While this is welcome, it will by no means meet the growing needs of

TERI organizes Climate Action Discourse at COP28

The Energy and Resources Institute (TERI) organized a first-of-its-kind panel discussion at the Climate Live Pavilion during COP28, focusing on the Sixth Assessment Report (AR 6) by the Intergovernmental Panel on Climate Change (IPCC) and its relevance for India. Prof Jim Skea, IPCC Chair, shared the global assessments of the IPCC and their specific implications

COP28 mobilised over $57 billion so far

COP28 Day 5: Among “landmark commitments” was a pledge by the UAE Banking Federation to mobilize $270 billion by 2030. Here’s all that happened COP28 summit on December 4, 2023. “COP28 has mobilised over $57 billion so far,” said a post by COP28 UAE. It added that governments, businesses, investors and philanthropists have delivered “an