UN fund meets for crisis talks, shipping eyes emissions target, Morocco opens vast solar plant, Obama proposes $10 oil tax
The GCF was created t drive clean energy and climate resilience investments in developing countries (Pic: Dfid/Flickr)
By Ed King
In a week when the UN’s flagship Green Climate Fund held crisis talks in Cape Town, Climate Home learned it will unveil a draft investment plan by early March.
Officials from Chile, US, Germany, Norway and Egypt have been tasked with developing a guiding vision for the fund, which has $10 billion to deploy.
Leading donors had heavily criticised the GCF for lacking a strategy, as it gears up to approve a whopping $2.5 billion of projects in 2016.
Next week we’ll have a Q&A with the GCF’s two co-chairs.
The shipping forecast
…could be fair sailing towards a greenhouse gas reduction target in April, according to the International Maritime Organization’s new head. Kitack Lim tells Climate Home it’s a “top priority”. Shipping emissions could rise from 3% of the global total to 15% by 2050 if the sector fails to act in line with national efforts.
Quote of the week
“I was reading it… and I was going bloody hell” – top UK climate scientist Richard Betts talks to Climate Home about how scary his findings can be
Unintended consequences
Protecting vast tracts of rainforests in Africa could lead to the loss of livelihoods of local farmers and hunters, NGOs warned in London this week. The EU wants to stem deforestation in Liberia and Congo, but its plans could impact millions of people.
Morocco goes solar
Noor 1 looks similar to the Gemasolar plant in Spain, one of a growing network of solar thermal power plants around the world (Pic: Torresol Energy Investments)
The first phase of what will be the world’s largest concentrated solar power plant opened in North Africa on Thursday. The US$9 billion Noor project will eventually cover 30 square kilometres and provide power to 1 million households.
INDC watch
Back for a one-off special. Nepal submitted its belated pledge to the Paris climate deal, targeting 80% renewables by 2050. Hydropower (and foreign investment) will be essential, says the government.
Polish coal wars
Local districts appear to be rising up against Warsaw’s edicts to ramp up coal use. “Our country has so far only been betting on outdated coal technologies, neglecting the innovative energy efficiency sector, renewable and distributed energy resources, becoming uncompetitive and singled out in Europe,” wrote regional leaders.
The magic number
Is $10: That’s the tax US president Barack Obama would like to slap on the production of a barrel of oil… the revenue would be invested in cleaner transport solutions.
Around the world
Blackrock: Top asset manager calls for CEO climate risk focus
US: Paris empowers Obama to make tougher GHG cuts
Australia: Climate science and green energy funding cut
Pacific Rim: TPP trade deal bad for climate, say activists
Steel: Leaky carbon markets hurting EU producers, warns lobbyist
And finally…
Michael Morpurgo and Jeremy Irons join forces for a short film ahead of Valentine’s Day, urging people to #showthelove for the planet