Net Zero News

Net Zero News
November 1, 2024

As COP29 begins this week in Azerbaijan, we look at the key topics on the agenda for this year’s United Nations Climate Change Conference. We also cover the recent climate plans and policies that have been announced by the UK and Scottish Governments, as well as developments from the UK’s energy sector. In the latest green claims headlines, the CMA has published new guidance for fashion retailers, while the SBTi launches new net zero criteria for the buildings sector.

COP29 COMMENCES IN AZERBAIJAN

COP29 – otherwise known as “the finance COP” – is now underway, with the scaling up of climate finance expected to be a key focus on the agenda. The conference is taking place in Azerbaijan, despite concerns around the country’s human rights record.

The 2024 United Nations Climate Change Conference (COP29) opened this week and takes place until 22nd November in Baku, Azerbaijan. Between 40,000 and 50,000 delegates are expected to attend COP29, including government representatives from all UN member states.
The key focus on the agenda for this year’s conference will be on scaling up climate finance, which refers to the funding that is needed to support lower-income countries in the transition to net zero, whilst also helping them adapt to the effects of climate change. COP29 has therefore been referred to as “the finance COP”.
As part of this, countries will need to agree on a New Collective Quantified Climate Finance Goal for the first time in 15 years. The previous target was set in 2009, where developed countries pledged to mobilise $100 billion a year by 2020 to help those countries most affected by climate change. However, this financial target was only surpassed in 2022.
COP29 will also see discussions around Nationally Determined Contributions, which are national targets to support climate change commitments that increase in ambition every five years. All countries involved must submit their new targets by February 2025.
Almost 60 U.S. lawmakers have written a letter criticising Azerbaijan’s human rights record, due to the countries longstanding restrictions on the rights of freedom of expression. They have urged the Secretary of State, Antony Blinken, to press for the immediate release of all political prisoners before the conference. This has been rejected by Azerbaijani President, Ilham Aliyev, despite claims that the human rights situation in the country has failed to improve in the lead up to COP29. Read More

CLIMATE NEWS FROM THE INTERNATIONAL COMMUNITY

IPCC authors believe that global warming targets will not be met, while the ISO prepares to launch a new Net Zero Standard.

A study surveying authors who have contributed to the reports of the Intergovernmental Panel on Climate Change (IPCC) has revealed that the majority believe that we will likely exceed the ‘1.5°C and well below 2°C’ global warming targets that have been agreed upon by the international community. The study notes that current efforts to tackle climate change are insufficient and that progress is needed more quickly but acknowledges that forecasting into the future is extremely difficult. Read More
The International Organization for Standardization (ISO) is planning to publish its first standard for net zero in 2025. The standard will build on guidelines that were previously released by the ISO in 2022 as part of COP27, and will prompt more countries, cities and organisations to set credible emissions reductions targets that can be validated on an ongoing basis. Read More

ENVIRONMENTAL ANNOUNCEMENTS FROM THE UK GOVERNMENT

Recent climate announcements from the UK Government include the establishment of the National Energy System Operator, the launch of a Global Clean Power Alliance as well as new funding in electric vehicle technologies and carbon capture and storage.

The UK Government has announced the establishment of the National Energy System Operator (NESO) – a new publicly owned organisation which aims to improve energy security, reduce long-term energy costs and advance the country’s agenda for clean power by 2030. NESO will work alongside Great British Energy and will oversee the planning and design of the UK’s electricity and gas networks. Read More
The Foreign Secretary, David Lammy, has introduced the launch of a new Global Clean Power Alliance, which is aimed at speeding up the global shift to renewable energy and helping countries move away from fossil fuels. He also announced two new UK Special Representatives for Climate Change and Nature, who will aim to advance the UK’s international efforts on climate finance and biodiversity protection. Read More
The UK Government is investing £88 million in electric vehicle solutions and innovations, in a bid to strengthen the UK’s green automotive sector. The funding aims to accelerate the development of zero-emission vehicles including battery-electric buses, electric trucks for the NHS and Royal Mail, as well as innovative solutions such as wireless charging systems and ultra-lightweight vehicles. Read More
Nearly £22 billion has been pledged by the UK Government to fund carbon capture and storage (CCUS) technology, which plays a crucial part in the UK’s strategy to cut greenhouse gas emissions. This includes investment in the two major industrial regions of Merseyside and Teesside. Read More
The Climate Change Agreement scheme has been extended by six years, to provide long-term certainty for planning and investment in energy efficiency and decarbonisation projects. Launched in 2014, the scheme provides tax breaks to businesses on the basis that they become more energy efficient and reduce their Scope 1 and 2 emissions. Read More

SCOTTISH GOVERNMENT SETS OUT NEW CLIMATE PLANS & POLICIES

The Scottish Government has set out new climate plans and policies, including the Climate Change (Emissions Reduction Targets) Bill, Scottish National Adaptation Plan and Green Industrial Strategy. It has also published a response to the Climate Change Committee’s progress report on emissions reduction in Scotland.

Scotland’s First Minister, John Swinney, announced his first Programme for Government in September, which set out a Climate Change (Emissions Reduction Targets) Bill. The bill was officially passed this month and aims to establish a carbon budget approach for target setting, by introducing limits on the amount of greenhouse gases emitted in Scotland over a five-year period. Read More
The Scottish Government has also published a new Scottish National Adaptation Plan (SNAP3), which sets out the actions that they will take to respond to the impacts of climate change. The plan sets out more than 200 actions that will be taken from 2024 to 2029, and details how communities and businesses across Scotland will be given support to tackle the impacts of climate change in their local area. Read More
A new Green Industrial Strategy has been launched, which identifies areas of strength and opportunity for Scotland in the transition to a net zero energy system. The strategy outlines the Scottish Government’s plans to create positive conditions for green investment and growth, which build on Scotland’s strengths in renewable energy. Read More
The Scottish Government has set out a response to the Climate Change Committee’s progress report on reducing emissions in Scotland, which was published in March 2024. In the response, the Scottish Government has either accepted or partially accepted the 15 recommendations set out by the Climate Change Committee, including increasing transparency around the pathway to net zero, improving public communications and implementing public EV charging infrastructure. Read More

UPDATES FROM THE UK ENERGY SECTOR

Climate groups take legal action over Rosebank oil field and Cumbria coal mine, whilst Grangemouth oil refinery and the UK’s last coal-fired power station are closed. Funding has also been provided for electrolyser development projects in the UK, supporting the production of green hydrogen.

Energy trading company Petroineos has confirmed its decision to close Scotland’s only oil refinery in Grangemouth by mid-2025, due to global market pressures and increased international competition. This has prompted the UK and Scottish Governments to reveal a plan for the future of the site, including a £100 million support package to help workers in the just transition. Read More
A legal challenge initiated by climate groups Uplift and Greenpeace against the development of Rosebank oil field, located off the coast of Scotland, has been authorised for hearing by the Scottish Court of Session. The project was approved by the former Conservative-led UK Government, however climate groups have argued that it conflicts with the UK’s legally binding carbon budgets and 2050 net-zero target. The hearing is due to take place before the end of this year. Read More
Following legal challenges by environmental group, Friends of the Earth, the High Court has ruled that planning permission for a new coal mine in Cumbria was unlawfully granted. The case will now return to the UK Government for reconsideration, where the full climate impacts of the mine will be assessed. Read More
The UK has become the first G7 nation to phase out coal power, after the country’s last coal-fired power station, Ratcliffe-on-Soar, officially closed in September. Decommissioning work at the plant is now underway, while employees have been offered support for reskilling and retraining. Read More
– The Net Zero Technology Centre (NZTC) will provide funding this year to three successful electrolyser development projects, namely Clyde Hydrogen Systems, Aqsorption and Latent Drive. These electrolysers are used in the production of green hydrogen and are helping to drive the UK’s efforts to become leaders in the global green hydrogen market. Read More
The Climate Change Committee (CCC) has advised the UK Government to update its Nationally Determined Contribution (NDC) to the Paris Agreement, recommending an 81% target reduction by 2035 compared to 1990 levels. Piers Forster, the interim Chair of the CCC said that this new target is achievable and “sets the right level of ambition”. Read More

GREEN CLAIMS AND CONSUMER ATTITUDES

The CMA has issued a compliance document for fashion businesses while Holland & Barrett announces a new partnership to provide more transparency on the sustainability credentials of their products. A recent poll has also suggested a change in sentiment towards the climate emergency amongst UK citizens.

The Competition and Markets Authority (CMA) has published a compliance document to help fashion retail businesses follow the Green Claims Code when making environmental claims. The document intends to ensure that fashion brands adhere to consumer law and are “transparent and honest with their customers”. The CMA will soon have strengthened powers under the Digital Markets, Competition and Consumers Act 2024, which will give them the authority to fine businesses up to 10% of their global turnover if they break consumer law. Read More
Holland & Barrett has announced a partnership with sustainability data platform, Provenance, to provide customers with further information on the sustainability credentials of their products. New labels will be added to products across Holland & Barrett’s online channels in the first instance and will include information on aspects such as whether the product has recyclable packaging or is vegan-friendly. All claims will be supported with evidence and will be validated by Provenance. Read More
A recent UK poll has revealed a year-on-year decline in the belief that climate change is an emergency. Only half of those surveyed agreed with the statement, compared to 73% last year. It is suggested that this change in sentiment could be due to political narratives and the cost-of-living crisis, as well as poor understanding of climate change and jargon used by policymakers around the issue. Read More

SBTI’S CORPORATE NET ZERO STANDARD AND CARBON OFFSETS CONTROVERSY

The SBTI’s Corporate Net-Zero Standard is being revised with input from industry experts, while the VCMI has begun a consultation over its Scope 3 proposal. Concerns have also been raised over Amazon’s influence on the SBTi.

The Science Based Targets initiative (SBTi) is in the process of revising its Corporate Net-Zero Standard, which supports businesses in achieving net zero. The main focus will be on “refining the neutralization approach”, which aims to clarify how companies can effectively neutralise any of their remaining emissions that cannot be reduced any further, through credible and science-backed carbon removal and storage solutions. Two workshops were also held to gather insights from industry experts, which will help shape and inform the revised guidance. Read More
The SBTi is significantly funded by the ‘Bezos Earth Fund’, a charitable organisation set up by the CEO of Amazon, Jeff Bezos. However, Amazon has its own strategy called ‘The Climate Pledge’, which provides alternative ways to achieve climate goals without limiting the use of carbon credits and has been signed by over 100 companies including Uber, IBM and Microsoft. Concerns have been raised to the UK Charity Commission about the influence of the Bezos Earth Fund on the SBTi standards, which has prompted a review of the SBTi’s governance from the UK Charity Commission. Read More
The Voluntary Carbon Markets Integrity Initiative (VCMI) has begun a consultation on its revised Scope 3 proposal, which suggested that companies could make extensive use of carbon credits up until 2038, to address the “emissions gap” between their target trajectories and actual emissions. Having first been published in November 2023, the proposal has received significant pushback and has been criticised for potentially “weakening the system of accountability for corporate action”. Read More

OTHER SBTI NEWS

Businesses including Warner Music Group and Aldi receive SBTi validation on their climate targets, while the SBTi launches criteria for the built environment and a new website to streamline target validation.

Businesses and organisations whose climate targets have recently received SBTi validation include Warner Music Group, Aldi South Group, 3M, UK Power Networks and Miller Homes. Along with other record labels Sony and Universal, Warner signed up to the Music Industry Climate Pact in 2021 to reach net-zero by 2050. Read More
Aldi has also committed to no deforestation across commodities including palm oil, coffee, cocoa, beef and wood fiber-based products by the end of 2025. The CEO for Aldi U.S. stated that as their shops stock 90% Aldi-exclusive brands, they can “work more directly with suppliers on emissions reductions”. Read More
The SBTi has introduced its ‘Buildings Sector Science-Based Target-Setting Criteria’, which provides a decarbonisation framework for companies and financial institutions in the building environment sector. It covers areas ranging from energy consumption to emissions leakage and encourages businesses to “halve their emissions by 2030 and commit to no new fossil fuel installations”. Read More
A new website has been launched by the SBTi to streamline target validation for businesses and financial institutions. This is in response to a significant rise in demand for the SBTi’s services, whereby validated science-based targets have increased by almost 60% in the past nine months. The new website aims to provide businesses with the tools and resources needed to set and validate their science-based targets. Read More