Biden summit triggers bolder climate pledges
Progress on limiting temperature rises to no more than 1.5°C to become clearer by year-end
April’s Leaders’ Summit on Climate provided US president Joe Biden with the first opportunity to burnish his climate credentials. It also triggered a round of upgraded climate commitments from other rich nations ahead of the UN’s Cop26 talks later this year. However, experts were quick to point out that the US’—and indeed the world’s—new and upgraded emissions reduction targets are still a long way off where they need to be to achieve the goals of the Paris Agreement. 42pc – Renewables' forecast share of US power generation by 2050 Biden pledged to cut US greenhouse gas (GHG) emissions by 50pc to 52pc from 2005 levels by 2030. The previous pledge, made by former President Ob
Also in this section
16 April 2024
US and European oil majors snap up smaller players and look to accelerate development in a region deemed to possess all the key elements for successful CCUS deployment
15 April 2024
Demand for credits seen rising 20% this year despite issues around integrity and standardisation
11 April 2024
Volatile allowance prices and small size of voluntary market undermine ability to drive investment, says Oxford Institute for Energy Studies
8 April 2024
Chevron New Energies is lead investor in funding round by Colorado-based provider of post-combustion capture technology