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Your Climate Action Diary - 44

Year 2023 • Week 31 • Anushthatri Sharma
Hi,

Hope you are well !

The climate news-cycle these last two weeks have been very active.

G20 (under India's Presidency) hosted the Energy Minister's Meet on 22nd July & Environment and Climate Sustainability Minister's Meet on 28th July - where conversation around climate took priority. There has also been a lot of movement from the world of renewable energy, climate finance, carbon markets and biodiversity preservation.

There have been progresses and fall-backs on climate-action, across many countries. Cutting through the chaos, here are your Top 3 most pivotal pieces - that define the last two weeks, best.

Happy Reading.
Regards, 

Harish, 
Team OnePointFive Tribe

G20 Energy Ministers' Meeting Disappoints on Fossil Fuel Commitments

The G20 energy ministers' meeting ended with a disappointing outcome, failing to reach a consensus on cutting fossil fuels despite escalating climate concerns and extreme heatwaves. Experts criticized the meeting for lacking a strong call to action and reneging on commitments made in the past.

India Approves First Domestic Carbon Market

India has approved the creation of its first domestic regulated carbon market, known as the 'Carbon Credit Trading Scheme, 2023.' The scheme will establish a carbon credit trading market within the country, allowing projects that reduce emissions to issue carbon credits. These credits can be purchased by carbon emitters. The Ministry of Power will set emission intensity targets, and the market will be regulated by a National Steering Committee and the Central Electricity Regulatory Commission.

EU Parliament Narrowly Approves Nature and Climate Plan

The European Parliament approved a crucial plan in a 324-312 vote with 12 abstentions to protect nature and combat climate change. The plan is part of the ambitious 'EU Green Deal', aiming to set binding restoration targets for habitats and species, covering at least 20% of the EU's land & sea areas by 2030. Despite opposition from the EU People's Party, the plan survived and will now proceed to negotiations with member states.

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