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climate change

IPCC Meeting Fails to Finalise Assessment Report Timeline

by Madaline Dunn 11 months ago

written by Madaline Dunn

At the recently concluded Plenary of the Intergovernmental Panel on Climate Change (IPCC) in Sofia, Bulgaria, delegates failed to finalise a schedule for the upcoming seventh assessment report (AR7) cycle.

The IPCC is an intergovernmental body of the United Nations (UN) which provides policymakers with periodic scientific assessments on climate change.

AR7 is the next in its periodic assessment and will summarise the most recently published climate science.

The 61st plenary session, which ran from 27 July to 2 August, brought together delegates from 195 member governments and ultimately ended without a conclusion on the key decision of the report schedule.

Some countries pushed to have this report finalised by 2028, in time for the second global stocktake. However, other countries, including India, China, Saudi Arabia, and others, have resisted, citing concerns about quality and inclusivity.

These reports take between six and seven years to produce.

Delegates will return to debate the decision regarding the deadline in February 2025, when an agreement on the outline of report content will also need to be decided.

The IPCC meeting in Sofia did, however, see a consensus reached on the outlines of reports on cities and climate change and on short-lived climate forcers (SLCFs).

11 months ago 0 comments

Opinion Policy & Finance

The Best Climate Policy Puts Carrots Before Sticks

by Madaline Dunn 11 months ago

written by Madaline Dunn

It is widely recognized that the transition to a zero-carbon economy requires both carrots and sticks – incentives and penalties. Less appreciated is the importance of this sequence: carrots before sticks.

True, economists have long insisted that the only way to cut emissions of carbon dioxide and other greenhouse gases rapidly and at scale is to put a price on them. In a world where burning fossil fuels causes more damage than it adds in value to GDP, each ton of coal or barrel of oil consumed ultimately destroys collective prosperity.

Calculations of these emissions’ social costs provide a guide to pricing them. Accounting for the full damages caused by each ton of CO₂ emitted, an appropriate price is well over $200. But that comes out to almost $2 per gallon (or $0.50 per liter) of gasoline at the pump, which helps to explain why, for example, neither Europe’s well-functioning carbon market (with prices of around $75 per ton) nor Germany’s own carbon tax covers gasoline to the extent needed. In Germany, where 80 million people own 40 million gasoline- and diesel-powered cars, an adequately high tax would appear too punitive to pass political muster.

These calculations also explain why electric vehicles are such an important solution. The technology’s advantage lies in basic physics: EVs convert 90% of their power into distance, compared to just 20% for internal combustion engines. And similar efficiency ratios apply when comparing heat pumps to gas furnaces, induction stoves to gas stoves, and LEDs to the incandescent lightbulbs of yore.

That last example is particularly instructive, since the transition to LEDs is already mostly complete. Given that incandescent bulbs were notoriously inefficient – converting 90% of power to heat instead of light – switching to LEDs has paid for itself many times over. But even this common-sense change required coordination to achieve scale, and to overcome barriers like high upfront costs and landlords’ unwillingness to provide more efficient bulbs to tenants.

In the United States, it started with the Energy Independence and Security Act of 2007, signed into law by President George W. Bush, which set new efficiency standards for household lightbulbs. That triggered a typical culture-war response, with the Republican congresswoman Michele Bachmann introducing the Light Bulb Freedom of Choice Act in 2008. Fortunately, her bill went nowhere, and nor did President Donald Trump’s attempts to abolish efficiency standards a decade later. LEDs had already taken over as the better, more efficient, and ultimately cheaper technology. Physics and economics trumped culture wars, and both consumers and the planet benefited as a result.

The transitions to EVs, heat pumps, induction stoves, and many other newer, better technologies are now following similar – and similarly rapid – trajectories. While the cost of coal power in inflation-adjusted terms has stayed roughly the same for more than 200 years, the costs of solar power and batteries have declined by more than 99% in the past 30 years alone. In fact, solar is now the cheapest source of electricity ever – yes, even accounting for the fact that the sun doesn’t shine at night – and it is bound to become even cheaper. Sun, sand, and human innovation are all plentiful, leading to further economies of scale.

But, like LED adoption, rapid solar deployment requires coordination among households, utilities, regulators, industry, and those developing new technologies. After all, the goal is to have plug-in EVs charging when the sun shines, and powering the dishwasher or helping to stabilize the local grid when it doesn’t.

Coordination is also needed to encourage purchases of solar panels and other technologies in the first place. When Germany launched its ambitious Energiewende (energy transition) in 2011, feed-in tariffs and other subsidies helped solar-panel manufacturers climb the learning curve and drive down costs. Solar manufacturers then decamped to China, however, which drove costs down further but hurt German employment. And now, massive new US subsidies under the Inflation Reduction Act (IRA) may lead more European clean-tech businesses to look to greener shores, this time across the Atlantic.

The proper response to these developments is not to give up on newer, more efficient technologies. It is to find other ways to manufacture and deploy them at home. The European Union’s ban on sales of cars powered by internal combustion engines beginning in 2035 would help, as would a coordinated push to support adoption of heat pumps.

Backpedaling on these policies would be a big mistake. Europeans will need to devise creative solutions to subsidize the production and adoption of clean technologies. Electricity-market reforms that reward low-carbon power generation and thereby pass lower solar-power prices on to consumers are a good start. On EVs, heat pumps, and other more efficient products, targeted transition schedules ought to be part of the package. They provide investment certainty and balance carrots and sticks.

New York State, for example, has banned gas connections to most new buildings (a measure that Germany has yet to pass), thus gradually reducing its reliance on a fossil-fuel source while stopping short of taxing it. Minnesota, under the leadership of Governor Tim Walz, now the Democratic candidate for the vice presidency, has similarly passed a law requiring utilities to achieve 60-80% carbon-free electricity by 2030, and 100% by 2040, up from around 50% today. The law is implemented with a flexible renewable portfolio standard, but it is still largely a stick. The carrot: $2 billion in clean-energy subsidies, as part of the state’s comprehensive action plan.

Not all goes so smoothly. Though New York Governor Kathy Hochul’s long-awaited plan to introduce congestion pricing in New York City would have funded much-needed public-transit investments, it was seen as putting the stick before the carrot. In the event, she bowed to political pressure and abandoned the plan at the last minute.

The US is facing broader sequencing questions. Now that many of the IRA subsidies have proven to be wildly popular, when is the right time to follow up the carrot with a stick? The expiration of the Trump tax cuts for the rich next year could be seen as an opportunity finally to start pricing carbon. Of course, all will depend on the outcome of November’s presidential election.

By Monika Schnitzer, Chair of Comparative Economics at the Ludwig-Maximilians-University of Munich and Chair of the German Council of Economic Experts & Gernot Wagner, a climate economist at Columbia Business School.

For more op-eds, head here.

11 months ago 0 comments

Environment Innovation & Education Latest News

Orascom Development Partners with The Arctic Challenge

by Madaline Dunn 11 months ago

written by Madaline Dunn

Orascom Development has formed a partnership with The Arctic Challenge, which is launching a record-breaking 1,500 km rowing expedition across the Arctic Ocean.

Throughout their journey, The Arctic Challenge’s team will conduct vital scientific experiments, collecting critical data on the impact of climate change on this ecosystem, it was shared.

Orascom Development is an Official Partner of The Arctic Challenge, which is also backed by the UN Environment Program ‘Clean Seas’ initiative.

The Arctic Challenge team’s specially designed vessel, the “Ocean Guardian,” is an eight-metre boat without an engine, motor or sail and is equipped with solar panels for navigation and a desalination machine that will supply essential drinking water.

The UAE-based team is set to row non-stop from Tromsø, Norway, to Longyearbyen, Svalbard, traversing the “Devil’s Dance Floor,” during a voyage that is expected to take 20-25 days.

Omar El Hamamsy, Group CEO of Orascom Development, commented: “As a champion of change, we support pioneering initiatives, like The Arctic Challenge, that inspire the next generation of community leaders and push boundaries to contribute to a more sustainable future for all.”

Speaking on the expedition, Toby Gregory, leader of The Arctic Challenge and founder of The Plastic Pledge, said: “By rowing in the warmer months of the summer, we can raise awareness about the changes in climate that have made it possible for us to be the first to row to the Arctic Iceshelf at 80 degrees latitude. This highlights how much the ice is retreating due to the changes in our planet’s climate.”

Beyond the expedition, The Arctic Challenge, in collaboration with Orascom Development, will focus on expanding its educational outreach program.

The initiative aims to connect with students globally through guest lectures, events, and interactive learning materials, inspiring the next generation of scientists, explorers, and environmental leaders.

Over the past two years, the team, through The Plastic Pledge, has engaged with over 200,000 students across over 60 schools and universities in the GCC.

Together with Orascom Development, the team aims to inspire one million students to connect with the project and highlight the importance of the global community.

11 months ago 0 comments

Developing Energy Environment

Earth Sees Hottest Day in History, UN Calls for Turbo-Charged Fossil Fuel Phaseout

by Madaline Dunn 11 months ago

written by Madaline Dunn

Last week, Earth experienced its hottest day in recent history. According to the EU’s Copernicus Climate Change Service (C3S), on Monday, 22nd July, temperatures reached a daily global average of 17.16 °C

This beat the previous record of 17.09°C, set just one day before. Tuesday 23rd then marked the world’s second hottest day, at 17.15°C.

Record-Breaking Temperatures Continue

The last time temperatures were as high was back in July 2023, and prior to that, August 2016.

However, the C3S noted that from 3 July 2023 to 23 July 2024, 59 days exceeded the previous record, distributed between July and August 2023 and during June and July so far in 2024.

Indeed, the organisation, which releases monthly climate bulletins, explained that both 2023 and 2024 have seen annual highs substantially above those recorded in previous years.

These record-breaking days also follow a 13-month heat streak after the hottest year on record in 2023.

“What is truly staggering is how large the difference is between the temperature of the last 13 months and the previous temperature records,” said C3S Director Carlo Buontempo, adding that the world is now in “truly uncharted territory.”

“We are bound to see new records being broken in future months and years,” Buontempo said.

Countries around the world, from across North America to India, have been battling against extreme temperatures in recent years.

The MENA, in particular, has been highlighted as one of the regions most at risk, with a previous study finding that it is warming at nearly twice the rate of the global average.

The impact of this extreme heat can be fatal.

Earlier this year, for example, roughly 1.8 million people undertook the Hajj pilgrimage to Mecca in Saudi Arabia, which resulted in one thousand three hundred people losing their lives amidst temperatures that soared above 50 degrees.

Research also suggests that the number of heat-related deaths is only likely to rise in the region.

Last year, one study forecast that by the end of the century, under high-emissions scenarios, the figure could be 60-fold greater.

Fossil Fuel-Charged, Human-Induced Climate Crisis Driving Record Heat

Against this backdrop of unprecedented heat, the United Nations (UN) has launched a call to action.

Commenting on the emerging data, UN Secretary-General António Guterres said that billions are facing an extreme heat epidemic: “If there is one thing that unites our divided world, it’s that we’re all increasingly feeling the heat. Earth is becoming hotter and more dangerous for everyone, everywhere.”

Guterres said that heat is “tearing through economies,” widening inequalities, undermining SDGS, and killing people.

“Heat is estimated to kill almost half a million people a year, that’s about 30 times more than tropical cyclones,” said the UN chief.

However, Guterres also outlined that this extreme heat is not affecting everyone equally, with the urban poor, pregnant women, people with disabilities, older people, the very young, the sick, the displaced and the impoverished bearing the brunt.

The driving cause of this deadly heat? “Fossil fuel-charged, human-induced climate change,” said Guterres.

Call to Action

On Thursday, the UN launched its extreme heat report, detailing the extent of the climate crisis-driven “crippling” heat and the steps required to turn the tide.

The report outlined that measures to phase out fossil fuels must be “turbo-charged.”

Guterres, in his press speech, outlined that alongside extreme heat, other devastating symptoms of the climate crisis include droughts, rising sea levels and wildfires.

“To tackle all these symptoms, we need to fight the disease,” he said. “The disease is the madness of incinerating our only home. The disease is the addiction to fossil fuels. The disease is climate inaction.

Adding: “Leaders across the board must wake up and step up.”

Guterres also called out “the flood” of fossil fuel expansion in some of the world’s wealthiest nations.

Indeed, analysis of Rystad data by the International Institute for Sustainable Development (IISD) found that rich countries, including the United States, Canada, Australia, Norway and the United Kingdom, have issued two-thirds of the global number of oil and gas licences since 2020.

Further, if fully exploited, resources discovered in oil and gas exploration activities in 2024 could unleash 12 billion tonnes of CO2—this is more than the past four years’ discoveries combined.

Likewise, the IISD estimated that if all licensed fields are fully exploited, the world will extract more than twice as much oil and gas in 2040 as is compatible with the 1.5°C limit.

“The “production gap” is widening at its highest rate since 2015,” it said.

“Ending oil and gas licensing is a logical next step in the transition to clean energy. Governments need to put the COP 28 agreement into practice—particularly those with the wealth to drive investment into more sustainable sectors,” commented Olivier Bois von Kursk, policy advisor at IISD.

These findings follow research from the Energy Institute last month, which found that the world saw record high fossil fuel consumption last year, while fossil fuel subsidies remain eye-wateringly high.

For example, in 2022, fossil fuel subsidies hit a record USD 7tn, with subsidies from G20 countries reaching at least USD 1tn.

In his speech, Guterres called for the G20 to “shift fossil fuel subsidies to renewables,” while the UN report urged a scaling up of investment in renewable energy.

“Countries must phase-out fossil fuels – fast and fairly,” he outlined, adding: “The message is clear: the heat is on.”

This is the warning that not only the UN, but many other organisations have been issuing for years.

At the press conference, when asked by a reporter whether he is frustrated at the level of persistent and global climate inaction, the Secretary-General said that frustration “inhibits action.”

“I’m determined to turn things around and to do everything I can for those that have the decision capacity to do so to effectively turn things around. And we must recognize that a lot is being done,” said Guterres, spotlighting record renewable energy increases and the rise of EVs.

However, he noted that it is “too little, too late.”

“The problem is that climate change is running faster than all the measures that are now being put in place to fight it,” said Guterres, adding: “And that is why it is important to understand that we need a huge acceleration of all the dimensions of climate action.”

11 months ago 0 comments

Environment Latest News

Climate Change is Making Days Longer, New Study Finds

by Madaline Dunn 11 months ago

written by Madaline Dunn

A NASA-funded study has found that climate change is making our days longer as polar ice melts. While researchers say the change is in the milliseconds, they also note that this change is accelerating and could have implications for “precise timekeeping” and space navigation.

Alongside this, another NASA-funded study on the impact of climate-related redistribution of ice and water on the Earth’s rotation has found that this melting of ice sheets and glaciers is also causing the planet to “wobble” as it spins, and its axis to shift in location.

In fact, in the past 120 years, its rotational axis has moved around 30 feet (10 metres)

According to the day-length study, published in the Proceedings of the National Academy of Sciences, in recent decades, the melting of glaciers and polar ice sheets has accelerated, and this is shifting mass from the poles toward the equatorial ocean.

This, it was explained, causes Earth to decelerate and the day to lengthen.

From 2000 to 2018, the rate of length-of-day increase was 1.33 milliseconds per century, which, it was explained is faster than at any period in the prior 100 years. If emissions continue to rise, this could increase to as much as 2.62 milliseconds per century.

This would overtake the effect of the Moon’s pull on tides, which has been increasing Earth’s length of day by 2.4 milliseconds per century, on average.

However, if emissions were to be “severely reduced,” the lengthening could decelerate by 2100, the researchers outlined.

11 months ago 0 comments

Environment Latest News

Earthna joins the Global Mangrove Alliance

by Madaline Dunn 11 months ago

written by Madaline Dunn

Earthna Center for a Sustainable Future (Earthna), a member of Qatar Foundation (QF), has joined international conservation coalition, the Global Mangrove Alliance (GMA).

Mangrove forests are critical marine ecosystems, but they’re disappearing at a rapid rate. In fact, 67 per cent of global mangroves have been lost to date, with an additional 1 per cent lost each year, and their destruction has wide-reaching implications.

The Global Mangrove Alliance launched back in 2018 at the World Ocean Summit, and according to the alliance, aims to bring together technical experts, civil society organisations, governments, local communities, businesses, funding agencies, and foundations to accelerate coordinated global action to conserve and restore mangroves.

More broadly, the alliance seeks to expand the global mangrove habitat by 20 per cent by 2030.

The alliance includes leading international organisations such as Conservation International, The International Union for the Conservation of Nature, The Nature Conservancy, Wetlands International and World Wildlife Fund, among others.

Speaking on the announcement, Dr Gonzalo Castro de la Mata, Executive Director of Earthna, said: “Mangrove forests play an incredible role in advancing global sustainability and the fight against climate change. They absorb high-levels of carbon, buffer against the impacts of climate change like storm surges and sea level rise, support biodiversity, improve water quality, and prevent coastal erosion.

“By working closely with the Global Mangroves Alliance and its partners, Earthna will leverage collective expertise and resources to help safeguard these critical coastal habitats here in Qatar, and worldwide.”

11 months ago 0 comments

Environment Opinion

Fighting Climate Change Requires a Different Mindset

by Madaline Dunn 11 months ago

written by Madaline Dunn

The climate disasters unfolding around the world – including unprecedented floods in Brazil, Africa, and China, heat waves in Asia and the Middle East, and persistent droughts in Europe and Latin America – show that the planet is at a critical juncture. Fortunately, we can still seize the opportunity to redefine our paradigms of economic and social development. Alongside preserving and restoring our forests, we must end our dependence on fossil fuels and embrace renewables.

With our ancestral knowledge and respect for nature, indigenous peoples are an invaluable asset in confronting this challenge. Despite comprising only 5% of the global population, our lands preserve more than 80% of the world’s biodiversity. We know that when humans try to dominate nature, nature always responds. Today’s climate tragedies reflect this dynamic. They show why we must transcend our individual experiences to reach a higher state of consciousness vis-à-vis nature.

To that end, we in Brazil are committed to combating deforestation and advancing the demarcation, protection, and environmental management of indigenous territories. Such measures are essential to preserve biodiversity, limit carbon-dioxide emissions, and avoid the point of no return for essential biomes like the Amazon. Brazil is also focusing on the energy we produce and consume, a challenge that involves complex debates and compels stark choices.

But climate change is a global crisis. Unsustainable economic models built on fossil-fuel energy disproportionately affect the most vulnerable populations. By abandoning outdated development models based on the destruction of nature, we can embark on a path that is not only more sustainable, but also more just.

Despite the clear dangers presented by fossil fuels, significant investments in these energy sources continue to go unchallenged. A common justification is that burning fossil fuels yields economic benefits, but the oil industry is highly income-concentrating, yielding substantial gains only for a few, and negative externalities – not least pollution, corruption, and displacement – for the many.

Yet the human, financial, and environmental costs of our fossil-fuel fixation are increasingly clear. Consider the recent catastrophic floods in Rio Grande do Sul, Brazil, which killed hundreds of people and displaced many more; or the unprecedented drought that left thousands without water and food in the Amazon, home to the planet’s largest watershed; or the fires in the Pantanal, the largest wetland in the world. While billions of taxpayer dollars are spent supporting recovery from these kinds of disasters, billions more are still going to subsidize the fossil-fuel industry and its shareholders.

What will it take for governments to prioritize investments in climate-change mitigation and adaptation over these destructive subsidies? The G7 and other advanced economies have a responsibility to demonstrate more leadership on this issue. The effects of climate change are tangible threats that undermine growth and security everywhere. As heads of state and government – especially those from the G7 and G20 – prepare for upcoming climate meetings in Azerbaijan and Brazil, they should ask themselves how many more climate disasters they want to preside over.

We have the right to decide what kind of world we want to build. Do we continue on the path marked out by an exploitative logic that is increasingly turning against us, or do we seize this moment, change course, and start valuing ancestral knowledge? If we choose the latter option – as we must – we will need to secure the free, prior, and informed consent of all communities involved in any new projects, not only to protect rights but also to ensure more effective results.

The technology and knowledge for a just transition already exists. Many countries have already made significant advances in this direction, proving that a sustainable future is possible and economically viable. The tragedies unfolding around us ought to be a wake-up call for all countries to end fossil-fuel exploration, reduce usage as much as possible, and invest in renewable energy, the bioeconomy, and resilient infrastructure.

One big, outstanding issue is that financial flows still need to be brought into line with the targets set under the Paris climate agreement. Not only should annual investments in climate action increase substantially, but northern countries must take responsibility for mobilizing climate financing to the Global South this decade. Only then can we ensure a just and accelerated energy transition and truly protect nature, allowing it to play its indispensable role in stabilizing the planetary systems on which human life and prosperity depends.

The climate crisis is an opportunity to re-evaluate our choices and priorities. Nature has already given us many warnings, and it also offers us solutions. But mitigating climate change, eliminating fossil fuels, preserving and restoring forests, and protecting indigenous territories will not happen automatically. Each requires funding, concrete policies, and global cooperation. We will hear plenty of lofty, ambitious speeches in the months ahead, but if these are not backed by comprehensive implementation plans, they will amount to hot air. We already have more of that than we want.

By Sonia Guajajara, Brazil’s Minister of Indigenous Peoples.

For more op-eds, head here.

11 months ago 0 comments

Environment Latest News

Climate Consultancy The Carbon Trust Announces Michael Rea as CEO

by Madaline Dunn 12 months ago

written by Madaline Dunn

The Carbon Trust, a global climate consultancy, has announced that Michael Rea has been appointed as its new Chief Executive Officer.

This follows current CEO Chris Stark’s appointment to lead the UK government’s new ‘Mission Control’, which is tasked with “turbocharging” the UK to clean power by 2030.

According to the consultancy, Rea brings more than two decades of climate change experience and has held several strategic and operational roles over the years, including Director of Strategy, Director of Technology Development and his current role as Chief Operating Officer.

Julia King, Baroness Brown, Chair of the Carbon Trust Board, said: “I am delighted that Michael has agreed to take on the role as the Carbon Trust’s next CEO. We are blessed with a wealth of talent at the Carbon Trust and I look forward to working closely with Michael as we accelerate and amplify the Carbon Trust’s impact on climate action.”

The company also announced that a “strategic refresh” is ahead in the coming months.

Speaking on this, King said: “The development and implementation of the new strategy will be pivotal in reinforcing the Carbon Trust’s reputation as an innovative organisation in the transition to a sustainable future while delivering tangible results.

Speaking on his appointment, Rea commented: “I look forward to shaping the next stage of the Carbon Trust’s development working closely with colleagues across the company. Our mission to accelerate the move to a decarbonised future has never been more important.

“I am eager to begin working with clients, partners and colleagues as CEO to drive impact and meaningful progress in the fight against climate change.”

12 months ago 0 comments

Environment Latest News Policy & Finance

80+ Organisations Say Carbon Offsetting Undermines Climate Targets

by Madaline Dunn 12 months ago

written by Madaline Dunn

In a joint statement, over 80 civil society organisations have outlined their opposition to the use of carbon credits for offsetting purposes, arguing it could delay climate action.

In the statement, the organisations—which include the likes of ClientEarth, Changing Markets Foundation, Global Witness, Greenpeace, Climate Action Network Arab World and others—outline their concern around the “renewed efforts” to promote carbon offsetting.

The statement follows a recent controversial public statement from the climate-certification organisation Science Based Targets Initiative (SBTi).

In April, the global non-profit’s Board of Trustees outlined a proposal to allow the use of carbon credits to offset emissions.

Responses to the carbon offsetting statement were varied. Some hailed it a positive move. Anna Lerner Nesbitt, Climate Collective CEO, for example, argued the world is running out of time and needs “all the solutions.”

Adding: “Carbon markets have spent the last two years strengthening process integrity, and a myriad of new technologies and providers are shoring up data integrity.”

However, many others disagreed. Carbon Market Watch Executive Director Sabine Frank said the decision defied “both good governance and science.”

Meanwhile, a letter from SBTi staff to management, seen by the Guardian, said: “We stand ready to support any efforts aimed at ensuring that the SBTi does not become a greenwashing platform where decisions are unduly influenced by lobbyists, driven by potential conflicts of interest and poor adherence to existing governance procedures.”

Following the backlash to its carbon offset statement, in April, the organisation issued a clarification that “no changes have been made to SBTi current standards” and that “any use of EACs for Scope 3 will be informed by evidence.”

Dr Luiz Amaral, CEO of SBTi, has since announced that he is stepping down “for personal reasons.”

In the new joint statement, the signatories write that offsetting, “at best”, does not reduce the concentration of GHGs in the atmosphere but rather moves emission reductions from one place to another.

“The logic of offsetting is built on the idea that one entity gets to keep emitting.”

It is also outlined that offsetting “inherently” lacks credibility.

Indeed, the statement refers to the social and environmental harms uncovered by numerous investigations over the years.

It also highlights “non-permanent carbon removal,” which is falsely equated with the reduction of (permanent) emissions from the combustion of fossil fuels.

It notes that even if all of the quality issues mentioned could be fixed, projects and land would not be sufficiently available to feed the demand for a pay-to-keep-emitting model promoted by the inclusion of carbon offset credits into Scope 3 emissions accounting.

The statement also puts forward that carbon credits send a misleading signal about the efforts required to pursue climate action.

It argues that they undermine carbon prices by providing a false sense of the existence of ultra-cheap
abatement options around the world.

“They also risk disincentivizing the significant investments needed to ensure profound changes to corporate value chains and economic systems,” the statement reads.

Indeed, it is outlined that while companies can make a positive impact by funding carbon-related projects beyond their own value chain, these efforts do not reduce the necessary investments to abate emissions from their own operations or absolve them from accountability to clean up and pay for the impacts of their pollution.

“We call for scientific, ambitious, equitable, robust, credible and transparent rules around carbon accounting and corporate climate target setting. Voluntary and regulatory frameworks on climate transition planning must exclude offsetting,” the statement concludes.

12 months ago 0 comments

Environment Special Reports

The 2024 Law Firm Climate Change Scorecard

by Madaline Dunn 12 months ago

written by Madaline Dunn

The 2024 Law Firm Climate Change Scorecard, which grades law firms on their climate accountability, has been published by the Law Students for Climate Accountability.

It noted that while “powerful institutions” appear to be “waking up to the reality of climate change,” big law firms are not.

The report shared that, from 2019-2023, Vault 100 firms:

Facilitated $2.89 trillion in fossil fuel transactions,
Engaged in 518 instances of climate change-exacerbating representation, and
Received $32.97 million in compensation for lobbying on behalf of fossil fuel interests.

Further, it found that the firms which were undertaking the most substantial climate change-exacerbating work have not slowed down their fossil fuels work even as they ramp up their renewable energy practices.

Akin Gump was highlighted as receiving the most compensation for fossil fuel-related lobbying from 2018-2022 ($7.1 million), and in this year’s dataset spanning 2019-2023, received nearly one million dollars more in compensation ($7.9 million), while increasing its renewable energy industry lobbying by nearly 60 per cent.

There were 18 firms that were found to perform zero fossil fuels work in 2023, and the ‘A’ firms collectively increased their renewables transactional work by over 50 per cent in 2019–2023.

On the litigation side, while it was found that there was a slight decrease in overall climate litigation from the 2018-2022 data collection period to the 2019-2023 period, the firms with the most fossil fuels litigation “have not slowed down.”

Eight firms were found to be responsible for 40 per cent of all “climate change-exacerbating litigation” and, just three firms — Paul Weiss, Gibson Dunn, and Arnold & Porter — accounted for almost 20 per cent of total exacerbating representation.

Paul Weiss, last year’s “top offender” in the litigation category, was found to again top all other firms with the same number of fossil fuel representations as the prior period.

The firm was found to have not undertaken any climate change-mitigating litigation in the same period.

The report also makes a number of recommendations for clients and law students alike.

It noted that, when evaluating counsel firms, clients should assess whether their organisational values align with their own, and whether a firm’s practices and investments are sustainable into the future.

Meanwhile, for students, the report outlined: “We recognize and acknowledge that choice is a privilege that we must wield responsibly and that education is an opportunity we can utilize powerfully.
For the full report, head here.

12 months ago 0 comments

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