Sibur, one of the world’s largest petrochemical companies, has set more ambitious ESG targets over the next five years, including in recycling, low-carbon products and energy use.
Russia is revving up to launch a four-decade-long, RUB89 trillion ($1.2 trillion) investment campaign to reduce carbon emissions by 60% before 2050 from 2019 levels.
Metals demand is booming as increased use in transport products and energy transition projects to curb climate change begin to roll out in larger scale. And that is unlikely to stop anytime soon.
A panel of leaders from Russian and British companies have called for greater international collaboration during in a discussion which took place during the COP 26 climate conference in Glasgow.
The COP26 conference finished 26 hours late on November 13, with a last-minute intervention by India watering down the final agreement’s commitment on coal.
The Beyond Oil and Gas Alliance (BOGA) is calling for an immediate end to new licensing rounds for oil and gas exploration, and has signed up 11 governments to a promise to end oil and gas production by 2050.
An initial assessment by Climate Action Tracker of the impact of the Glasgow sectoral announcements for methane, coal, forests and transport show they would reduce the 2030 emissions gap between current government action and a 1.5C pathway by 9%.
UN Secretary-General António Guterres told the COP26 summit that much work remains to be done to fill the emissions gap and the finance and adaptation gap, despite welcoming the agreements on forests, methane and coal made so far.
November 10 was Transport Day at COP26 in Scotland, and parts of the automotive industry had pledged to end the sale of petrol and diesel cars and vans by 2035 in leading markets and by 2040 across the globe.
COP26 has come up with a first draft agreement that calls on governments to improve substantially by the end of 2022 their emissions reduction targets and long-term strategies for reaching net zero.
The first week of COP26 was dominated by grand statements by governments, and a number of sector-specific targets covering methane, coal and deforestation.
The global community will miss the Paris Accord target of keeping temperature rises to 1.5C and will see them climb to between 2.7C and 3.1C by 2100 unless emissions are cut by 15% a year from now on.
Gas and nuclear power should be considered as sustainable investments in the EU green taxonomy, a confidential non-paper sent to the European Commission on October 29 and circulating in Brussels has claimed.
Poland, Ukraine, Vietnam and a host of other major coal-burning countries made clear commitments to phase out coal power in the coming years, as the UK presidency of COP26 claimed that “the end of coal is in sight”.
The World Bank has backed the issue of $500mn of green bonds ever year for 10 years in a bid to raise private capital to scale up clean energy and sustainable infrastructure in emerging economies.
Russia's Prime Minister Mikhail Mishustin has announced the signing of the 2050 Low Carbon Strategy, previously drafted by the Ministry of Economic Development and taking an "intensive" trajectory that implies carbon neutrality by 2060.
The US has joined the High Ambition Coalition and has signed up to the goal of limiting global warming to 1.5°C by 2100, halving global emissions by 2030 and making good on the promise of $100bn per year of climate finance for poor nations.
For a world increasingly focused on global warming, the Russian mining and metals sector wouldn’t ordinarily be the first place to look for good news. But a new report says the leading companies are cleaning up their act.
COP26 is trying to put flesh on the bones of the targets and promises made at the 2015 Paris meeting.
A majority of G20 net-zero pledges made so far are not strong enough and are not backed up by meaningful and effective promises of action.