OSO.earth’s Post

📍Planning the end of fossil fuels at the original headquarters of Standard Oil. We are acting both domestically and internationally to tackle our reliance on fossil fuels. Following the Fossil Fuel Divestment Act 2018, the Ireland Strategic Investment Fund divested from fossil fuel companies and holds a list of companies in which it will not invest. Ireland has also ended the issuing of new exploration licences for fossil fuels and will manage existing authorisations towards a natural conclusion, through expiration, relinquishment, or production. International collaboration is key to achieving the widespread, transformative change needed to tackle climate change. At COP26, Ireland joined the Beyond Oil and Gas Alliance (BOGA) because of our determination to shift the global relationship with nature from a place of extraction to rehabilitation. This commitment was demonstrated further at COP27 when Ireland joined the Global Offshore Wind Alliance to create a global driving force for the uptake of offshore wind through political mobilisation and the creation of a global community of practice. At COP28, Ireland continued to advocate for the move away from fossil fuels. I participated in a number of BOGA events and attended a High-Level Dialogue on International Cooperation for a Fossil Fuel Non-Proliferation Treaty. Financing the transition away from fossil fuel consumption, north and south, is my focus at this week's meetings in New York--a stepping stone to COP29.

Through domestic demonstration and international collaboration, Ireland can and must play a vital role in phasing out fossil fuels and providing the leadership the world needs to tackle the climate crisis. Really positive to see these ongoing efforts ahead of COP29.

NEW BLOG 🚨As #COP29 enters the endgame, negotiated outcomes must reiterate commitments to the Global Stocktake energy package. Diplomatic and political surround-sound needs to build confidence amongst countries that ambitious NDCs and targets are desirable, feasible, and fundable in the run-up to COP30. The number of countries with coal power under development has halved since 2015, from 67 to 33, with 95% of planned capacity concentrated in just ten countries. Read our latest blog on the energy negotiations at COP29 and what we need to see in 2025 - Matt Webb Madhura Joshi Beth Walker Dido Gompertz Suzie Marshall 👉 https://lnkd.in/eEM7sDBs

Global Witness, "COP29 officials facilitate fossil fuel talks for fake investor during undercover investigation,” 11/8/2024, https://lnkd.in/eSTzjZMH "The Azerbaijan COP29 team charged with leading this year’s global UN climate talks helped facilitate discussions about fossil fuel deals at the annual conference, an undercover investigation by Global Witness can reveal. "Global Witness posed as a fake oil and gas group hoping to invest in the Azerbaijani fossil fuel sector and sponsor COP29. The undercover team was granted access to the heart of this year’s UN event – including Elnur Soltanov, Azerbaijan’s deputy energy minister and CEO of the COP29 talks. "It marks the second consecutive COP climate conference in which the national presidency has sought to use the talks to further fossil fuel interests, following similar revelations about the UAE presidency at COP28 last year. Today’s findings raise urgent questions about the functioning and oversight of the planet’s primary forum for navigating the climate crisis. "During the investigation, COP29 officials: -Touted opportunities to invest in Azerbaijani gas and introduced the fake investor to a senior executive at national oil and gas company SOCAR to facilitate investment discussions at the COP29 summit as part of sponsorship negotiations. -Sought to announce the fake investor as an official COP29 sponsor after agreeing to drop requirements for sustainability or climate commitments. -Provided access to Azerbaijan’s deputy energy minister who described an energy future which includes fossil fuels – “perhaps forever”. "Throughout its interaction with the COP29 team, fake investor EC Capital presented itself as an oil and gas specialist interested in investing in SOCAR and sponsoring COP29. "In an apparent breach of UN standards, both COP29 CEO Elnur Soltanov and other officials committed to introducing EC Capital to SOCAR with the explicit purpose of discussing oil and gas investments. "The UN body which oversees the COP process, the UNFCCC, says on its website that COP officials should not use their roles “to seek private gain” and expects them to act "without self-interest”. ... "According to the COP29 website, COP sponsors are required to pledge cutting their emissions as part of the UNFCCC’s Race to Zero program. Companies can also sign a “National Pledge” and promise to come up with a “credible net-zero transition plan” at some point over the next two years. ... "Today’s revelations contribute to a growing body of evidence that the COP process is now seen by some as an arena for new fossil fuel business – and that efforts by the UNFCCC to safeguard COP from conflicts of interest have not worked."

At the 29th UN Conference on Climate Change Conference of the Parties (#COP29), Norway unveiled the opening of its new Article 6-aligned carbon fund under the Global Green Growth Institute’s (GGGI) Carbon Transaction Facility (CTF) as part of its new international effort: the Norwegian Global Emission Reduction (NOGER) Initiative. The Norwegian Article 6 Climate Action (NACA) fund was inked on 16th November 2024. Through the Fund, Norway pledges up to USD 100 million focused on the purchase of Internationally Transferred Mitigation Outcomes (ITMOs) under Article 6. This represents the largest single pledge to date focused on Article 6 aligned carbon trading. Through the NOGER initiative, Norway has concluded three bilateral agreements with GGGI Member States and partner countries, advancing the conclusion of Article 6 transactions with Benin, Senegal, and Zambia. Find out more in our press release: https://lnkd.in/g7cnD2nJ #GGGIatCOP29 #COP29 #ClimateAction #Article6 #GGGI

𝗧𝗿𝘂𝗺𝗽'𝘀 𝗥𝗲𝘁𝘂𝗿𝗻: 𝗜𝗺𝗽𝗮𝗰𝘁 𝗼𝗻 𝘁𝗵𝗲 𝗖𝗹𝗲𝗮𝗻 𝗘𝗻𝗲𝗿𝗴𝘆 𝗧𝗿𝗮𝗻𝘀𝗶𝘁𝗶𝗼𝗻 With COP29 approaching, the renewable energy sector is bracing for possible changes in U.S. climate policy. While the previous Trump administration saw strong strong economic growth & job creation, it also leaned heavily towards traditional energy sources, with limited support for renewable energy infrastructure. ❌ Trump's return could mean a rollback of emissions targets, renewed focus on Oil & Gas, and reevaluation of the Paris Agreement. 🔋 Despite possible policy changes, U.S. investment in renewables remains robust, bolstered by bipartisan support and funding from the Inflation Reduction Act. 🌍 A shift in U.S. policy could reduce critical climate support for developing nations, with potentially far-reaching consequences. At Elsdon, our Finance & Accounting team specialises in the U.S. renewable energy sector, and we continue to see growing demand across wind, solar & cleantech. Even amid federal changes, the need for financial expertise is growing as companies navigate growth and evolving challenges. What impact do you think Trump's return will have on hiring & investment in renewable energy? Share your thoughts below 💭 👇 Daniel Botha Harriet Stephens Nicole Behrens Fiona Williamson Tom Gratton #usclimateaction #cleantech #renewableenergy #trump #cop29

COP29 review: industry experts’ take on the outcomes of COP29  While there were some breakthroughs for the energy sector, underfinancing remains a primary concern. https://lnkd.in/gY5XsK47

COP 29 day 5 on energy promises and call for peace 🧐 Key initiatives were launched: 🔋 Global energy storage & grids pledge: aiming for 1,500 GW of storage and 25M km of grid upgrades by 2030 🌿 Green energy zones & corridors were promoted to connect renewable energy to underserved communities 🌟 Scaling up green hydrogen production and reducing reliance on fossil fuels 🕊️ On peace and climate, the Baku Call for Peace, Relief, and Recovery highlights the critical link between climate action and conflict prevention, supported by the new Baku Climate and Peace Action Hub 🔗 The Global Matchmaking Platform was launched to decarbonize industries 🌱 The Central Asia Renewable Energy Partnership to drive green investment was put into the spotlight 🤔 Experts still doubt (and with good reason) if the COP can truly deliver change with the urgency required -- read all about it here: https://lnkd.in/eMBNizc4

“Collaboration is essential,” stressed Luciano Caratori of Climate Champions at our #MoreRenewables campaign launch event in New York. With the Corporate Leaders Network for climate action, we're calling on governments to implement laws to help accelerate the energy transition, while also protecting communities and nature. 📢 Businesses must talk to governments, and each other, about the legal requirements they need to play their part in the energy transition.  🤝 Governments must undertake robust business consultation to ensure that energy laws are fit-for-purpose.   👉 Business-to-business dialogue is also essential to share lessons learned, identify common challenges and take coordinated advocacy to governments.   Find out more about our #MoreRenewables campaign 👀 and join us at #COP29 in Baku on 15 November in the We Mean Business Coalition Pavilion to explore how businesses and policymakers can work together to accelerate the energy transition: https://bit.ly/4fmVVQu Katherine Quinn Aoife Blanchard Annabelle Roblin-Sserwanja Beverley Cornaby Eliot Whittington #CISLCOP29 #COP29Baku #CambridgeForOurPlanet #UKAtCOP29

BBC, "COP29 chief exec filmed promoting fossil fuel deals,” by Justin Rowlatt, 11/8/2024, https://lnkd.in/e9rxNVRB "A senior official at COP29 climate change conference in Azerbaijan appears to have used his role to arrange a meeting to discuss potential fossil fuel deals, the BBC can report. "A secret recording shows the chief executive of Azerbaijan's COP29 team, Elnur Soltanov, discussing "investment opportunities" in the state oil and gas company with a man posing as a potential investor. ""We have a lot of gas fields that are to be developed," he says. "A former head of the UN body responsible for the climate talks told the BBC that Soltanov's actions were "completely unacceptable" and a "betrayal" of the COP process. "As well as being the chief executive of COP29, Soltanov is also the deputy energy minister of Azerbaijan and is on the board of Socar. "Azerbaijan's COP29 team has not responded to a request for comment. "Oil and gas accounts for about half of Azerbaijan's total economy and more than 90% of its exports, according to US figures. "COP29 will open in Baku on Monday and is the 29th annual UN climate summit, where governments discuss how to limit and prepare for climate change, and raise global ambition to tackle the issue…. "Attempting to do business deals as part of the COP process appears to be a serious breach of the standards of conduct expected of a COP official. "These events are supposed to be about reducing the world's use of fossil fuels – the main driver of climate change – not selling more. "The standards are set by the UN body responsible for the climate negotiations, the United Nations Framework Convention on Climate Change (UNFCCC). "The UN said it could not comment directly on our findings but remarked that "the same rigorous standards" are applied to whoever hosts the conference, and that those standards reflect "the importance of impartiality on the part of all presiding officers”. "Its code of conduct for COP officials states they are "expected to act without bias, prejudice, favouritism, caprice, self-interest, preference or deference, strictly based on sound, independent and fair judgement. "They are also expected to ensure that personal views and convictions do not compromise or appear to compromise their role and functions as a UNFCCC officer.” "Christiana Figueres, who oversaw the signing of the 2015 Paris agreement to limit global temperature rises to well below 2C, told the BBC that she was shocked anyone in the COP process would use their position to strike oil and gas deals. "She said such behaviour was "contrary and egregious" to the the purpose of COP and "a treason" to the process."