Hello! Switzerland, Britain and New Zealand submitted their raised climate targets this week to the UN Framework Convention on Climate Change (UNFCCC) under the Paris Agreement, just after the United States said it will withdraw from the landmark accord on Jan. 27, 2026. The Swiss have approved new climate targets, proposing a cut in greenhouse gas emissions by 2035 of at least 65% compared to 1990 levels. The country came under fire last year when a top European court ruled it was not doing enough to tackle climate change. Britain too submitted further details of its plan to cut carbon emissions to the United Nations climate body. Its climate targets were raised at last year's UN COP29 climate summit, pledging to cut greenhouse gas emissions by 81% by 2035, without explaining exactly how the goals would be met. New Zealand said that it would make a commitment that by 2035 the country would have reduced emissions by 51% to 55% compared to 2005 levels. Its initial commitment had been to cut emissions by 50% by 2030 and is part of a pledge to be net zero by 2050. Speaking of the change in energy policy from the U.S., this week the International Energy Agency became a target of the Trump administration's war against green energy due to the Paris-based body's focus on the global energy transition. Driven by its member countries' priorities, the IEA shifted its focus on facilitating data, research, guidance and investment towards building renewable energy supplies for a low-carbon economy. That has drawn criticism from the oil industry, Republicans and Trump and his team, who are refocusing U.S. energy policy on increasing oil and gas output. Keep scrolling for more on countries around the world who are continuing their journey towards a sustainable switch; from a report showing that global low-carbon investments exceeded $2 trillion last year, to the Mission 300 initiative by the World Bank and the African Development Bank focusing half of its funding on clean energy sources and Norway's $1.8 trillion wealth fund sticking with its renewable assets. |
|
|
1. Global energy transition investment exceeded $2 trillion last year, report shows |
Investment in the low-carbon energy transition grew by 11% last year to a record $2.1 trillion, driven by renewable energy, power grids and electrified transport and energy storage investment, according to a report by BloombergNEF. |
A view shows the Kamares dam, in Greece. REUTERS/Alexandros Avramidis |
2. Greek farmers worry about crops drying up as Bulgaria water deal expires |
Since 1964, water from Bulgaria's mountains has flowed freely along the Arda River into 50,000 acres (20,000 hectares) of the Evros plain in Greece, under a World War Two reparations agreement between the two countries. But the deal expired last July and it is not clear if it will be renewed as Bulgaria assesses its own water needs. The situation highlights just how vital – and precarious – water resources have become in southern Europe where climate change has made summers hotter and rain less frequent. Click here for the full Reuters article. |
3. Norway's wealth fund sticks to investments in renewables despite market setbacks |
The Scandinavian wealth fund, the world's largest at $1.8 trillion, is remaining committed to renewables, saying it makes sense in the long-term, despite the recent negative returns. The fund's own investments in unlisted renewable energy infrastructure, which includes stakes in offshore wind farms with Orsted and in Spanish utility Iberdrola's renewables portfolio, posted a negative return of 10% for 2024 on Wednesday. |
4. Mission 300 initiative expected to require $90 billion to plug Africa's electricity gap |
Launched by the World Bank and the African Development Bank in April, the Mission 300 initiative is projected to cost $90 billion. The initiative has won new pledges worth more than $8 billion from lenders including the Islamic Development Bank and the Asia Infrastructure Investment Bank. Half of the targeted new connections will get electricity from existing national grids, officials said at the summit, while the other half will be from renewable energy sources, including wind and solar mini-grids. |
5. UK climate protesters challenge jail sentences in landmark appeals |
More than a dozen British climate activists, who were jailed for between 15 months and five years, filed an appeal of their sentences, arguing that the jail terms failed to reflect their conscientious motivation for direct action protests. The appeals of 16 Just Stop Oil activists follows a crackdown on protest movements in Britain under the previous Conservative government and across Europe. |
|
|
Residents who evacuated their homes during the Palisades Fire in California were granted permission to return for the first time in three weeks. The fire burned nearly 24,000 acres across the Santa Monica Mountains and the towns of Pacific Palisades and Eastern Malibu. And authorities are still fielding dozens of calls a day from anxious pet owners wanting to find their missing furry roommates. Click here or the image for the full video. |
|
|
- Reuters U.S. sustainable business correspondent Ross Kerber, explores whether or not companies are actually dialing back their diversity, equity and inclusion initiatives. Click here for the full column.
- Corporate climate action needs advocates, not critics, to survive the Trump era, writes Donna Lee, a co-founder of carbon credit ratings platform Calyx Global for Ethical Corp Magazine.
- Wind power generation in Germany - Europe's largest wind producer - is on track to record its longest stretch of below-normal production since early 2021 due to a spell of low wind speeds since October, writes Reuters global energy transition columnist Gavin Maguire. Click here for more.
|
|
|
37-year-old YouTuber Kazuki Nakata looks at his indoor farm at his home in Kawasaki, Japan. REUTERS/Tom Bateman |
Today's spotlight shines a light on Japanese consumers looking for creative solutions to ease the rising food costs. For YouTuber Kazuki Nakata, the recent price trends have proved to be a boon. Having started indoor farming at home as a hobby during the pandemic, the 37-year-old now has nearly 90,000 subscribers, eager to learn how to stretch out store-bought vegetables and grow new ones in containers of water, without soil. |
|
|
The number of vehicles no longer entering the busiest part of New York's Manhattan area due to the city's congestion pricing, according to the Metropolitan Transportation Authority. The transport agency said inbound trip times on all Hudson and East River crossings are now 10% to 30% faster or more, while bus service has also improved. Subway ridership has grown by 7.3% on weekdays and 12% on weekends over January 2024. |
|
|
Sustainable Switch Climate Focus was edited by Alexander Smith. |
|
|
|
