Global Climate News

US-based NRDC supported over 20 cities diverting over 35,750 tons of food waste, preventing nearly 62,000 metric tons of emissions. $11.5 million in USDA grants funded 38 composting projects. California banned confusing food date labels. Illinois mandated organic waste collection at large events. Michigan aims to halve food waste by 2030. The National Strategy for Reducing Food Loss and Waste was released. The Zero Food Waste Coalition grew to over 250 members. EPA invested $39 million in a national campaign.

Multiple countries pledged to increase climate finance and achieve emission reduction targets at COP27. Developed countries aim to deliver at least USD 100 billion in climate finance this year and double adaptation finance by 2025. Around 20 of 200 countries submitted updated commitments, with Australia's being the most significant. Nordea, as part of GFANZ, is committed to net-zero transition targets and plans. Africa is likely to raise the issue of loss and damage help.

The 8th Annual Sustainable Investment Forum Europe will take place in Paris on April 29, 2025. Hosted by Climate Action in partnership with UNEP FI, the forum will bring together over 400 senior leaders to discuss topics such as a just transition, global carbon markets, and building resilience to physical climate risks. Attendees will gain insights and tools to navigate pivotal topics reshaping Europe’s financial landscape for a just, net-zero, and nature-positive economy.

\"A proposal for a single Global Cap-and-Trade Scheme to reduce global CO2 emissions has been put forward. The scheme would regulate upstream fossil fuel entities, aiming for steadily decreasing global emission limits and a global carbon-neutral economy. It proposes a fully auctioning upstream-type regulatory scheme with a single market of international allowance, generating potentially a trillion-dollar auctioning proceeds stream for financing SDGs.\"

The UN is focusing on several climate-related issues in 2025, including keeping global temperature rise below 1.5 degrees Celsius, protecting nature, securing climate finance, strengthening climate law, and tackling plastic pollution. At COP29, an agreement was reached to triple climate finance for developing countries to $300 billion annually by 2035, although this is less than the $1.3 trillion needed. The International Court of Justice will issue an advisory opinion on States’ legal obligations regarding climate change, which is expected to guide future international climate law.

The Asian Development Bank (ADB) and WTO Secretariat have launched the Trade in Critical Minerals (TiCM) database at COP29 in Baku. The database provides comprehensive information on trade flows, visualizations, and policy data for 250 critical minerals essential for clean energy transition, including materials used in batteries, wind turbines, and electric vehicles.

The UK government has published its response to the Climate Change Committee’s 2024 Progress Report, outlining steps taken to accelerate net zero and meet climate targets. Key actions include lifting the onshore wind ban, approving major solar projects, launching Great British Energy (£125m funding announced for 2025-2026), delivering a record-breaking renewables auction, and investing £21.7bn in carbon capture and hydrogen industries. The UK also announced an ambitious 2035 NDC target to reduce greenhouse gas emissions by at least 81% compared to 1990 levels.

At COP29 in Baku, Azerbaijan, countries have agreed on a new climate finance goal to mobilize $1.3 trillion per year by 2035 for developing countries, with developed nations committing to provide at least $300 billion annually. The agreement includes provisions for scaling up UNFCCC climate funds to $5.2 billion by 2030. Key announcements included Indonesia's commitment to phase out coal power 15 years earlier than planned, China's disclosure of $24 billion in climate finance since 2016, and the launch of a Global Energy Storage and Grids Pledge targeting 1,500 GW of storage by 2030.

S&P Global Commodity Insights released its 2025 energy outlook, highlighting uncertainties in energy markets due to geopolitical factors and the impact of AI. The report projects increased energy demand outpacing clean energy supply growth, leading to higher emissions. Key themes include the impact of a second Trump presidency on US energy policy, the role of AI in electricity consumption, the potential for a nuclear energy comeback, and the competition between China and the West in clean technology.

McKinsey's post-COP29 analysis reveals that while urgent climate action is needed, progress is hampered by financing challenges, geopolitical uncertainties, and regulatory ambiguity. The report highlights the need for companies to refresh sustainability strategies, expedite cost-competitive climate technologies, and execute with operational rigor.

The Global Carbon Council (GCC) signed two agreements with S&P Global Commodity Insights (SPGCI) and Climate Impact X (CIX) to enhance carbon market services and liquidity. SPGCI will provide registry services for GCC 2.0, and the tri-party agreement with CIX aims to streamline access to global buyers for project developers, improving liquidity and transparency.

Australia and New Zealand have held their second Foreign and Defence Ministerial Consultations (ANZMIN) in Auckland, where they recognized climate change as the greatest threat to Pacific countries. Both nations committed to amplifying Pacific voices on climate action, supporting the Pacific Resilience Facility, and endorsed Australia's bid to host COP31 in 2026. The ministers also reaffirmed their commitment to the Paris Agreement and emphasized the need for rapid global climate action in this critical decade.

Brazil will host the COP30 climate conference in Belém (PA) in 2025. The announcement was made during a meeting between Brazilian President Lula and former Uruguayan President Pepe Mujica, as part of the Mercosur Summit discussions which also included potential trade agreement with the European Union.

South Africa has welcomed the outcome of COP29 which established a new climate finance goal that will triple funding to developing countries from US$100 billion to US$300 billion annually by 2035. The country has also highlighted its commitment through the Just Transition Partnership to transition to a low carbon economy.

FCDO Director General Humanitarian and Development, Melinda Bohannon, visited Pakistan to review various initiatives including climate-related projects. The British High Commission has implemented a groundwater recharging project in Mirpur, KPK, using nature-based solutions to address climate change challenges. The visit also included a Chevening 'Climate Connects' debate focusing on COP29 and just transition discussions.

TotalEnergies, along with 49 other oil and gas companies, signed the Oil & Gas Decarbonization Charter (OGDC) to accelerate decarbonization efforts. The OGDC aims for net-zero emissions by 2050, near-zero upstream methane emissions by 2030, and elimination of routine flaring by 2030. TotalEnergies is sharing its methane detection technology (AUSEA) with other OGDC members.

The US government has announced multiple major climate and clean energy funding initiatives through various agencies. The Department of Energy has allocated $2.2 billion for clean hydrogen hubs in Texas and Midwest, and $30 million for AI in energy interconnection. NOAA has committed $147.5 million for climate-ready fisheries, while the Department of Interior is providing $122.4 million for conservation projects. Additional funding includes $70.8 million for automotive and manufacturing sustainability initiatives.

The World Trade Organization's Trade and Environmental Sustainability Structured Discussions (TESSD) has reviewed progress in four working groups focused on climate measures, environmental goods and services, subsidies, and circular economy. The Philippines has joined as the 78th TESSD co-sponsor. The initiative is preparing for outcomes at the 14th Ministerial Conference in 2026, with working groups focusing on climate objectives, trade facilitation in environmental goods, subsidy design, and circular economy practices.

The International Court of Justice (ICJ) has begun landmark climate change hearings in The Hague, Netherlands, representing the largest case ever seen by the world court. The hearings, initiated by Vanuatu and supported by 132 countries, will examine States' legal obligations regarding climate change and consequences for breaching them. The proceedings involve 91 written statements and 97 States participating, with particular focus on small island developing States' vulnerabilities to climate impacts.

COP29 has reached several major agreements including a new climate finance goal of USD 300bn annually by 2035 for developing countries, with plans to scale up to USD 1.3trn. The conference also established new carbon trading rules enabling country-to-country trading and an international carbon market. While China and other developing nations were not included as formal contributors, GFANZ indicated private sector support of USD 1trn conditional on countries meeting commitments. The UAE, Brazil, UK, and Mexico have announced new climate targets ahead of COP30.