• 4 minutes Oil Price Editorial: Beware Of Saudi Oil Tanker Sabotage Stories
  • 6 minutes UAE says four vessels subjected to 'sabotage' near Fujairah port
  • 13 minutes Mueller Report Brings Into Focus Obama's Attempted Coup Against Trump
  • 15 minutes Magic of Shale: EXPORTS!! Crude Exporters Navigate Gulf Coast Terminal Constraints
  • 6 hours Wonders of Shale- Gas,bringing investments and jobs to the US
  • 2 hours Why is Strait of Hormuz the World's Most Important Oil Artery
  • 37 mins Trump bogged down in Mideast quagmire. US spent $Trillions, lost Thousands of lives, and lost goodwill. FOR WHAT? US interests ? WHAT INTEREST ? . . . . China greatest threat next 50 years.
  • 4 hours Rural and Conservative: Polish Towns Go 'LGBT free' Ahead Of Bitter European Election Campaign
  • 5 hours IMO2020 To scrub or not to scrub
  • 1 hour California's Oil Industry Collapses Despite Shale Boom
  • 11 hours Compensation For A Trade War: Argentina’s Financial Crisis Creates An Opportunity For China
  • 1 hour Global Warming Making The Rich Richer
  • 6 hours Knock-Knock: Aircraft Carrier Seen As Barometer Of Tensions With Iran
  • 3 hours Misunderstanding between USA and Iran the cause of current stand off, I call BS
  • 11 hours China Downplays Chances For Trade Talks While U.S. Plays ‘Little Tricks’
  • 3 hours Iceland Reducing Gas Stations By Half By 2025
  • 11 hours Devastating Sanctions: Iran and Venezuela hurting
Alt Text

Chevron And Occidental Join Bill Gates Backed Tech Company

Chevron and Occidental Petroleum recently…

Alt Text

An Unexpected Carbon Tax Proposal

Dyed-in-the-wool, rock-ribbed Republicans have proposed…

Alt Text

The Oil Industry Faces A ‘Crisis Of Confidence’

The annual HIS CERAWeek Conference…

Environmental Finance

Environmental Finance

Environmental Finance is still the only independent global magazine offering comprehensive coverage of the financial impact of environmental issues on the business community.  Leading industry…

More Info

Trending Discussions

International Climate Talks Are Progressing, But Very Slowly

The climate negotiations are proceeding at an “unacceptable” pace, said UN climate chief Christiana Figueres today, but progress is being made.

Speaking in Cologne at the opening of the ninth Carbon Expo exhibition and conference, Figueres said: “I know we’re all frustrated with the slowness of the intergovernmental process”, to applause from delegates. But, she added, “despite the pace, which is completely unacceptable, governments are persevering”, in the face of four years of global economic turmoil.

“They’re persevering because they, and we, have no other option,” Figueres said. “The direction is clear – [but] the pace is frustrating and unacceptable.”

Figueres praised those governments that agreed in Durban to participate in a second commitment period of the Kyoto Protocol, which will start in January and run for a yet to be determined period, hailing it as “a courageous decision, that shows real international leadership”. At a meeting which ended in Bonn last week, participating nations began to focus on three options to deal with the carry-over of credits from the protocol’s 2008-12 first period – a crucial sticking point in the talks.

She also pointed to progress by developing countries, the representatives of which in Bonn approved a registry for their nationally appropriate mitigation activities, which will allow for the progress of their voluntary emissions pledges to be tracked.

But she blasted negotiators for the lack of progress under the new negotiating stream building on agreements reached in Durban – for a new international climate change agreement to be reached by 2015 to take effect in 2020, and also to raise ambition on interim emissions reduction targets – saying: “How is it possible that they spent two weeks discussing an agenda with two points?”

With regard to carbon markets, Figueres said that there was some progress on a new market mechanism, in that governments have decided it should have a broader reach than the current project-based mechanisms. She noted that the UN climate secretariat is calling for submissions on the scope and procedures for such a mechanism until 6 July.

“I can tell you for sure that the [Clean Development Mechanism] will continue,” she said, “but I can also tell you for sure that it won’t be the only market mechanism.”

Figueres said that the market is in “a very fertile period of creation of a much more robust and complex market system”, which can attract “more mature, long-term investors”, such as pension funds and sovereign wealth funds.

By. Katie Kouchakji

Source: Environmental Finance




Download The Free Oilprice App Today

Back to homepage

Trending Discussions


Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News