CLIMATE CHANGE

COP26 draft: countries urged to submit and strengthen climate plans

The COP26 Presidency Unit has published the draft "cover decision" of negotiations at the COP26 climate summit so far, calling on nations to "revisit and strengthen" their 2030 climate targets by the end of 2022 in order to keep any chance of reaching the 1.5^oC pathway of the Paris Agreement alive. The COP26 cover decision sets out what negotiators at the two-week summit hope will be the outcome of a new and strengthened approach to climate action. The decision reiterates or “welcomes” many of the major announcements at COP26 to date – including funding commitments on adaptation and pledges on deforestation. However, the document also “notes with regret” about missing the $100 billion annual financing target to support climate adaptation of developing economies, and calls for greater support via grants. (edie)

TECHNOLOGY & INNOVATION

US 'Aviators Group' formed to ramp up sustainable aviation fuel supply

The Sustainable Aviation Buyers Alliance (SABA), the group of firms that plans to compensate for their corporate aviation emissions through investments in sustainable aviation fuels (SAFs), has launched a new initiative dedicated to expanding the supply of SAF globally. Amazon Air, Alaska Airlines, JetBlue, and United Airlines are the founding members of the new Aviators Group, launched at the COP26 Climate Summit, with a mission to drive investment in high-integrity SAFs and accelerate the transition to net zero emissions air transport. The group also aims to accelerate cost reductions and technological innovation across the nascent sector so as to rapidly expand the SAF market. SABA formally opened up its membership to all private and public organisations worldwide at the COP26 event in Glasgow. (Business Green)

ENERGY 

Six major automakers agree to phase out fossil-fuel vehicles by 2040

Six major automakers will commit to phasing out the production of fossil-fuel vehicles around the world by 2040, as part of global efforts to cut carbon emissions. The ‘Glasgow Declaration on Zero Emission Cars and Vans’, unveiled at the COP26 climate talks, sees the groups pledge to "rapidly" accelerate the transition to low-carbon emission vehicles, aiming to green leading markets by 2035. Headline signatories include Ford and General Motors, the world's second-most populous country India and major corporate purchasers of vehicles including Leaseplan. Volvo, Daimler, Mercedes-Benz, BYD and Jaguar Land Rover, a unit of India's Tata Motors have also signed up. However,  the world's top two carmakers, Toyota and Volkswagen, as well as major car markets China, the United States and Germany, have not yet signed the pledge.. (Reuters)

CLIMATE CHANGE

250 parties push UN and social media to curb climate misinformation

WWF, Sky, Virgin Media O2 and Ben & Jerrys are among over 250 organisations and leaders supporting a new call to tackle climate misinformation, launched to coincide with COP26. The organisations signed an open letter aimed at the UN, as well as the leaders of social media networks including Instagram, Google, Twitter, TikTok, Pinterest, Reddit and Facebook. The letter requests that the UN draws up a universal definition of “climate misinformation” to help develop meaningful international initiatives to tackle the issue. A definition of climate disinformation and misinformation is proposed, covering statements that “undermine” the existence or impacts of climate change and the human influence, misrepresent scientific data, and/or are greenwashing. The letter urges social media firms to replicate their policies on Covid-19-related misinformation for climate. (edie)

SUSTAINABLE INVESTMENT

Singapore financial regulator to launch ESG data platforms

The Monetary Authority of Singapore, the central bank and financial regulator of Singapore, has announced an initiative to partner with financial technology providers and finance industry participants on the development of ESG and sustainable-focused data platforms. The bank aims to develop four interoperable platforms, targeting areas including ESG disclosure, data orchestration, registration and interconnection. The new initiative is being conducted under the bank’s Project Greenprint, which the authority launched last year to help mobilise capital for green and sustainable finance by harnessing technology and data to create a more transparent, trusted and efficient ESG ecosystem. Pilots are anticipated to be completed in the second half of 2022, including the Common Disclosure Portal to simplify ESG disclosure, Data Orchestrator to aggregate ESG data, and ESG Registry to maintain ESG certifications. (ESG Today)

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