Current:Home > ContactHere's what happened on Day 5 of the U.N.'s COP27 climate talks -FutureFinance
Here's what happened on Day 5 of the U.N.'s COP27 climate talks
TrendPulse View
Date:2025-04-07 21:10:26
The war in Ukraine is driving a new push for fossil fuels, putting climate goals at risk
With the war in Ukraine disrupting natural supplies to Europe, many countries have been scrambling to replace gas exports coming from Russia, often from nations much farther away. Those gas supplies are super-cooled into a liquid that can be loaded onto tanker ships. The tankers dock in the importing countries at huge facilities that turn their cargo into gas again to send through pipelines.
Since the invasion of Ukraine, 26 of these massive facilities have been announced in the European Union, according to a new report from Climate Action Tracker, a climate think tank,.
Extracting more natural gas to offset the losses from Russia could lock in fossil fuel use for decades. If the proposed terminals and others under construction now around the world come online, they could more than double the emissions from natural gas by 2030, according to the report. That could jeopardize any commitments that governments make in the COP27 negotiations to rein in the pollution driving global warming.
To keep the world's goal of limiting warming to 1.5 degrees Celsius within reach, there should be no investment in new fossil fuel supplies, the International Energy Agency said.
Members of Congress start to arrive
Nancy Pelosi arrived in Egypt with a delegation of 13 other House Democrats, including the current chairs of multiple committees that work on climate policy.
A delegation of Congressional Republicans are enroute to the talks as well.
Congress passed a massive spending bill that puts more than $1.2 trillion toward infrastructure, including rebuilding roads and bridges to be more resilient to climate change, putting more electric vehicles on the road, upgrading public transit and expanding clean sources of electricity.
But control of Congress is still up in the air after Tuesday's election, and the future of U.S. spending on climate change also hangs in the balance. Among other policies, Republican lawmakers have argued against government funding of renewable energy, and in favor of investments in natural gas and other fossil fuels.
Scientists say reliance on fossil fuels needs to plummet immediately in order to avoid catastrophic global warming later this century.
White House calls for federal contractors to disclose climate information
The Biden administration wants big federal contractors to publicly disclose information about their greenhouse gas emissions and the financial risks they face from climate change, and to set targets for cutting emissions.
The U.S. government is the world's largest buyer of goods and services, the White House said, and the proposed rule would make federal supply chains more efficient and resilient to the impacts of global warming.
"Suppliers understand that you cannot manage what you don't measure — tracking emissions and setting and meeting targets can increase resilience and reduce costs," the White House said in a statement.
The administration made the announcement a day before President Joe Biden is scheduled to speak at the United Nations' annual climate conference in Egypt.
Under the proposed rule, the largest federal contractors — those with annual contracts of more than $50 million — would have to disclose emissions from their own operations and from the energy they buy, as well as certain emissions from their customers and suppliers. They would also have to provide information about their climate-related financial risks, and set science-based targets for cutting emissions.
Companies with annual contracts of $7.5 million to $50 million would only have to provide information about the emissions from their own operations and from their energy purchases. Companies with smaller contracts would be exempt.
"With this proposed rule, the Administration is providing a valuable model for other stakeholders as it becomes increasingly important for governments and corporations to provide visibility into their climate risks and resilience across their supply chains," Pankaj Bhatia, global director of the Greenhouse Gas Protocol, said in a statement.
However, the proposal is likely to face pushback, says Arthur Wheaton, director of labor studies at Cornell University's School of Industrial and Labor Relations.
"The big question is how the administration will monitor and enforce these restrictions," Wheaton said in a statement.
The U.S. Securities and Exchange Commission has proposed its own rule to require companies to disclose information about climate-related risks and greenhouse gas emissions. That proposal has faced fierce corporate opposition.
Climate news from the actor formerly known as Rainn Wilson
Actor Rainn Wilson, who is most famous for his role as Dwight Schrute in the U.S. version of the television show The Office, says he has changed his name.
He says he now goes by Rainnfall Heat Wave Extreme Winter Wilson.
In a video, Wilson says his goal is to draw attention to the effects of climate change in the Arctic. Indeed, more variable and extreme rain and heat waves are wreaking havoc in the Arctic, where temperatures are rising about four times faster than the global average.
Wilson also suggested new climate-related names for other celebrities, such as:
- Cardi the Arctic B. Melting
- Jack Black Carbon Is Killing Us
- Ty-phoons Are Increasing Burrell
- Amy Poehler Bears Are Endangered
- Harrison Why Not Drive an Electric Ford
veryGood! (51354)
Related
- Taylor Swift Eras Archive site launches on singer's 35th birthday. What is it?
- Iran's leader vows to enforce mandatory dress code as women flout hijab laws
- Fast-moving Hawaii fires will take a heavy toll on the state’s environment
- Gal Gadot enjoys 'messy' superspy life and being an Evil Queen: 'It was really juicy'
- 2 killed, 3 injured in shooting at makeshift club in Houston
- Despite slowing inflation, many Americans still struggling with high prices, surging bills
- Rachel Morin Case: Police Say She Was the Victim of Violent Homicide
- 41 reportedly dead after migrant boat capsizes off Italian island
- Paula Abdul settles lawsuit with former 'So You Think You Can Dance' co
- Threat of scaffolding collapse shuts down part of downtown Orlando, Florida
Ranking
- McConnell absent from Senate on Thursday as he recovers from fall in Capitol
- Police investigate shooting at Nashville library that left 2 people wounded
- LGBTQ+ people in Ethiopia blame attacks on their community on inciteful and lingering TikTok videos
- 'Rust' movie weapons supervisor pleads not guilty to manslaughter
- Military service academies see drop in reported sexual assaults after alarming surge
- Fire in vacation home for people with disabilities in France kills 11
- Maui fires death toll rises to at least 53, hundreds forced to evacuate; Biden approves disaster declaration
- Iconic Lahaina banyan tree threatened by fires: What we know about Maui's historic landmark
Recommendation
Justice Department, Louisville reach deal after probe prompted by Breonna Taylor killing
Poland to send 10,000 soldiers to Belarus border as tension rises amid Russia's war in Ukraine
In the twilight of the muscle car era, demand for the new 486-horsepower V-8 Ford Mustang is roaring
Prosecutors clear 2 Stillwater police officers in fatal shooting of man at apartment complex
Most popular books of the week: See what topped USA TODAY's bestselling books list
Iran transfers 5 Iranian-Americans from prison to house arrest in step toward deal for full release
Prosecutors seek Jan. 2 trial date for Donald Trump in his 2020 election conspiracy case
Mary Cosby Makes Epic Return in Real Housewives of Salt Lake City Season 4 Trailer