BEIJING – Carbon dioxide emissions from the world’s steel sector will fall 30% by 2050 compared with last year as more mills turns to less-polluting electric arc furnaces (EAF), consultancy Wood Mackenzie said in a study on Tuesday. Around 48% of global crude steel will be made via EAF by 2050, according to Woodmac, increasing from 30% in 2021 and almost on a par with traditional blast furnace steelmaking. “Together with green hydrogen-based direct reduced…"Steel industry carbon emissions to drop nearly 1/3 by 2050 – Woodmac"
SYDNEY – After some of the worst fires and floods ever to hit Australia, a new cohort of climate-conscious independents are threatening to shake up the federal election on Saturday, putting the government under pressure in key districts and potentially reshaping the country’s political landscape. Enraged by the lack of government action on climate change, the candidates are campaigning hard on environmental issues in the hope of wooing moderate voters away from the major parties.…"After fires and floods, climate-conscious independents could determine Australian election"
– Canada launched the public consultation phase of a national climate adaptation strategy on Monday, aimed at developing its first-ever framework to help cope with increasing natural disasters and other severe impacts from global warming. During the three-month consultation period Canadians are being asked for input on how communities and businesses should prepare for climate-related disasters like wildfires, rising sea levels and melting permafrost. The climate in Canada is warming twice as fast as the…"Canada opens public consultations on national climate adaptation strategy"
MEXICO CITY – Colombia’s presidential front-runner Gustavo Petro wants, if he wins later this month, to stop all new oil exploration and move his country to a greener future. That lines him up with Chile’s recently-elected President Gabriel Boric, a Millennial who has also pledged to take a firm stance on tackling climate change. As Latin America sees a resurgent ‘pink tide’ – with most of the region set to be headed by leftists by…"How the new Latin America left is seeking a greener future"
TOKYO – Japan needs a faster “third arrow” growth strategy focussing on promoting a carbon-neutral society, including by creating a financial hub in Tokyo for Asian firms aiming to go green, said Hiroshi Nakaso, considered a front-runner to be the country’s next central bank chief. Massive monetary and fiscal stimulus deployed in 2013 as the first two “arrows” of then-premier Shinzo Abe’s “Abenomics” policies reflated the economy. But the third, structural reform, barely took flight,…"Nakaso, candidate to head BOJ, calls for faster green growth strategy"
FRANKFURT – Deutsche Bank is not financing a pipeline in Africa that environmental campaigners have said will displace thousands of families and disrupt nature reserves, a person with knowledge of the matter said on Sunday. Germany’s largest lender has come under pressure to clarify its stance on the financing of the planned $3.5 billion East African Crude Oil Pipeline (EACOP), which would stretch more than 1,400 kilometres from Uganda to Tanzania. Deutsche has so far…"Deutsche Bank not financing controversial African oil pipeline, source says"
SAO PAULO – The Royal Society scientific academy has elected climate scientist Carlos Nobre, a leading researcher studying the Amazon rainforest, as its first Brazilian member since the country’s Emperor Dom Pedro II joined the group in the 1800s. Nobre has studied the Amazon for decades and was an early proponent of the theory that rapid deforesation is pushing the world’s largest rainforest toward a tipping point after which the biome could dry out into…"Royal Society names climate scientist first Brazilian member since 1800s"
SYDNEY – Tuvalu fears that climate change, an existential threat to the Pacific nation, is being forgotten and it worries that fellow island nations could become “pawns” in a global competition between China and the United States, its foreign minister said. Simon Kofe told the superpower competition was a concern, distracting attention from climate change, the priority for Pacific islands endangered by rising sea levels. “It is important that the Pacific handles these issues carefully,”…"Tuvalu, sinking in the Pacific, fears becoming a superpower ‘pawn’"
– The Canadian government is in talks with heavy industrial emitters about ways to ensure Ottawa’s planned carbon price increases will remain in place even if Prime Minister Justin Trudeau’s Liberal government is voted out of power. Federal Natural Resources minister Jonathan Wilkinson told most of the discussions have focused on “carbon contracts for differences.” These contracts set a price on tradable carbon credits, which heavy emitters can get if they reduce pollution. If the…"Canada, industry in talks to cement future carbon price hikes"
TORONTO – For banks in Canada, one of the world’s largest oil producers, it’s not easy being green. In the past two years, Canadian banks have increased the amount of sustainability-linked financing (SLF) they extend to oil and gas clients. SLF refers to financing whose cost changes when certain environmental, social and governance (ESG) requirements are met at the company level but does not require the funds themselves to be used for climate-friendly purposes. This…"Canada banks face ‘greenwashing’ claims as oil & gas firms obtain sustainable financing"