IISD Energy

The window has closed; this year's #EmissionsGap report states that overshoot of 1.5°C is now inevitable. What's needed to limit the overshoot to 1.7-1.8°C & return to 1.5°C requires gov'ts to step up. 🌎greenhouse gas emissions must drop 45% by 2035 compared to 2025 levels. @olivier-bvk.bsky.social

Closing the emissions gap is inseparable from transitioning away from fossil fuels. By reforming fossil fuel subsidies, supporting vulnerable groups, & redirecting public financial flows to clean energy, gov'ts can: ⬇️exposure to volatile🌎fuel markets ⬆️energy security 👷promote a just transition.

The window has closed; this year's #EmissionsGap report states that overshoot of 1.5°C is now inevitable. What's needed to limit the overshoot to 1.7-1.8°C & return to 1.5°C requires gov'ts to step up. 🌎greenhouse gas emissions must drop 45% by 2035 compared to 2025 levels. @olivier-bvk.bsky.social

Countries' latest national climate plans, released last year, failed to increase ambition in line with the UNFCCC #GlobalStocktake. If fulfilled, these NDCs would only cut emissions by about 11 to 15% over the next 10 years, putting the 🌎 on a path to 2.6°C by 2100.

The window has closed; this year's #EmissionsGap report states that overshoot of 1.5°C is now inevitable. What's needed to limit the overshoot to 1.7-1.8°C & return to 1.5°C requires gov'ts to step up. 🌎greenhouse gas emissions must drop 45% by 2035 compared to 2025 levels. @olivier-bvk.bsky.social

Canada has hit a milestone in the process of creating a credible sustainable finance taxonomy. Business Future Pathways, has now defined green & transition categories. Crucially, it did not include an abatement category that would have deemed fossil fuel activities to be sustainable investments.

A taxonomy is important tool, but it must be deployed with other rules to drive capital towards sustainability solutions. Climate-related risk disclosures and transition plans are the missing pieces from Canada’s sustainable finance policy. Read more 👇 www.iisd.org/publications...

Canada has hit a milestone in the process of creating a credible sustainable finance taxonomy. Business Future Pathways, has now defined green & transition categories. Crucially, it did not include an abatement category that would have deemed fossil fuel activities to be sustainable investments.

Approving the Jackdaw gas field is a backward step for UK climate action. Energy security lies in renewables, electrification & storage. With Rosebank’s decision still pending, the UK must follow the evidence & reject a project incompatible with Paris Agreement goals. www.iisd.org/publications...

Canada's landmark CAD 100mn investment in Nova Scotia's offshore wind sector is a welcome move by the federal gov't to accelerate renewable energy growth. With today’s announcement, Nova Scotia is one step closer to realizing its Wind West strategy, a province–led project to develop offshore wind.

To develop the sector and get the first projects built, public financial support is critical, especially for proven, cost-competitive technologies like offshore wind. This strategic public investment in scaling renewables is a promising move that policy-makers can build on.

Canada's landmark CAD 100mn investment in Nova Scotia's offshore wind sector is a welcome move by the federal gov't to accelerate renewable energy growth. With today’s announcement, Nova Scotia is one step closer to realizing its Wind West strategy, a province–led project to develop offshore wind.

Understanding carbon pricing means looking at how it connects with people, livelihoods, energy systems, and the wider economy. Recognizing these links helps us look at carbon pricing from different perspectives to support a fair transition. 🧵

Viet Nam’s Department of Climate Change, Ministry of Agriculture & IISD have signed an MoU to advance technical cooperation on carbon pricing and carbon markets. The partnership will bring evidence and expertise to support Viet Nam’s carbon market development. 🧵1/2

📢Today, Canada named the Pacific Link west coast oil pipeline as a project of national interest & fast-tracked its development. This move puts into sharp focus the gov't’s support for fossil fuels over renewable energy—& the climate & economic risks this brings. 🧵

Meanwhile, the project has no significant private sector proponent & oil demand is expected to peak around 2030. By the time this new pipeline comes online, demand is likely to already be in decline & taxpayers may end up owning infrastructure that never turns a profit.

📢Today, Canada named the Pacific Link west coast oil pipeline as a project of national interest & fast-tracked its development. This move puts into sharp focus the gov't’s support for fossil fuels over renewable energy—& the climate & economic risks this brings. 🧵

Currently, the pipeline is expected to be 90% owned by Canada and Alberta—meaning Canadians are likely expected to foot up to a CAD 39 billion bill on behalf of profitable oil companies. The government has yet to demonstrate it will be worth the cost.

📢Today, Canada named the Pacific Link west coast oil pipeline as a project of national interest & fast-tracked its development. This move puts into sharp focus the gov't’s support for fossil fuels over renewable energy—& the climate & economic risks this brings. 🧵

📣Today, the owners of LNG Canada Phase 2 & the Coastal Gaslink (CGL) pipeline announced plans to proceed with expansion & double capacity. But who ultimately carries the risks for these decisions? Behind the headlines, taxpayer dollars & Canada’s climate goals are on the line. 🧵 @iisd.org

Rather than LNG, governments should direct public resources toward clean energy and affordability measures that reduce costs & emissions. Our research backs this up: iisd.org/articles/dee...

📣Today, the owners of LNG Canada Phase 2 & the Coastal Gaslink (CGL) pipeline announced plans to proceed with expansion & double capacity. But who ultimately carries the risks for these decisions? Behind the headlines, taxpayer dollars & Canada’s climate goals are on the line. 🧵 @iisd.org

Meanwhile, following LNG price spikes driven by the crisis in the Strait of Hormuz, many fossil fuel importing countries in Asia and Europe are increasingly looking to renewable power for a cheaper, more reliable solution. This shift will impact long-term LNG demand.

📣Today, the owners of LNG Canada Phase 2 & the Coastal Gaslink (CGL) pipeline announced plans to proceed with expansion & double capacity. But who ultimately carries the risks for these decisions? Behind the headlines, taxpayer dollars & Canada’s climate goals are on the line. 🧵 @iisd.org

LNG Canada is relying on substantial gov't financial support. While we don’t yet know the subsidies committed to Phase 2, Phase 1 is on track to receive at least CAD 1.36 bn in support by the end of 2030. The CGL pipeline has already received CAD 700 mn in public financing.

📣On the sidelines of the UN General Assembly this week, countries & civil society met to prepare for the Second International Conference on the Just Transition Away from Fossil Fuels (TAFF-2). Here is what we learned.🧵 #ClimateWeekNYC

On TAFF-2 priorities, the meeting outlined 3 pillars: 1️⃣ Plan the transition: recognizing that countries have different starting points. 2️⃣ Finance the transition: high costs & debt were identified as key challenges. 3️⃣ Transition the real economy of each country.

📣On the sidelines of the UN General Assembly this week, countries & civil society met to prepare for the Second International Conference on the Just Transition Away from Fossil Fuels (TAFF-2). Here is what we learned.🧵 #ClimateWeekNYC

Technical systems are not socially neutral. At the Global Coalition for Social Justice Annual Forum, IISD's @philgass.bsky.social explains when it comes to carbon pricing monitoring, reporting, & verification systems; who informs design, can comply, & benefits, all matter for equity & inclusion.