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Combined emissions from 15 companies surpass Russia’s and equate to more than 80% of EU’s methane footprint, study finds

The combined methane emissions of 15 of the world’s largest meat and dairy companies are higher than those of several of the world’s largest countries, including Russia, Canada and Australia, according to a new study.

The analysis from the Institute for Agriculture and Trade Policy and Changing Markets Foundation found that emissions by the companies – five meat and 10 dairy corporations – equate to more than 80% of the European Union’s entire methane footprint and account for 11.1% of the world’s livestock-related methane emissions.

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Compliance entities dropped their California Carbon Allowance (CCA) net length to lows not seen since early April as a massive spread trade occurred, as financials throttled back CCA net length from four-month highs while continuing to add to their RGGI holdings, according to US Commodity Futures Trading Commission (CFTC) data published Monday.

At least three of Brazil’s most forested states are preparing to bring what could be hundreds of millions of credits to the global voluntary carbon market, Carbon Pulse has confirmed.

Turkey is set to announce an updated NDC this week, with the government set to pledge to the UNFCCC a higher emissions cut target and for the first time declare when its emissions will peak, sources close to the process told Carbon Pulse on Monday.

A Canada-based voluntary carbon credit investor on Monday said it is readying for a successful 2023, even as the firm reported several million in losses over the first financial quarter and further uncertainty regarding REDD offset deliveries.

Several high-level representatives from rich countries noted on Monday the need to mobilise much greater levels of climate finance flows to vulnerable countries, responding to developing country lambasting of the current $100 billion promise as “insufficient” and “broken.”

EU climate chief Frans Timmermans arrived at COP27 UN climate talks on Monday proclaiming that hydrogen could be a huge opportunity for Africa, despite green groups stating that if the fuel does not come from 100% renewable sources this solution will only worsen the energy and climate crisis.

Spot and nearby futures for nature-based solutions continued to sink lower in the past week despite a raft of upbeat announcements of investment in the voluntary carbon market (VCM) at COP27 in Egypt.

With Australia experiencing its third year of a La Niña weather cycle, First Nations communities continue to be disproportionately impacted by floods. Culturally safe solutions are needed. Toni Hay, Expert in Indigenous climate adaptation, Indigenous Knowledge Courtney-Jay Williams, Principal Advisor at Indigenous Climate Change, Indigenous Knowledge Licensed as Creative Commons – attribution, no derivatives.

Establishing the age of K'gari (Fraser Island) confirms it emerged before the reef, despite the climate being suitable for coral growth long before then. James Shulmeister, Adjunct Professor, University of Queensland, and Professor and Head of School of Earth and Environment, University of Canterbury Daniel Ellerton, Postdoctoral Researcher, Department of Geological Sciences, Stockholm University Licensed as Creative Commons – attribution, no derivatives.

Previous summit’s president tells ministers no ‘backsliding’ must be allowed over climate crisis ‘red line’

Alok Sharma, the former UK cabinet minister who presided over the Cop26 climate summit in Glasgow last year, has warned delegates at Cop27 that the possibility of limiting global heating to no more than 1.5C may be at risk.

“We’ll either leave Egypt having kept 1.5C alive or this will be the Cop where we lose 1.5C,” Sharma said at the opening on Monday of the high-level ministerial roundtable on pre-2030 ambition.

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Spot and nearby futures for nature-based solutions continued to sink lower in the past week despite a raft of upbeat announcements of investment in the voluntary carbon market (VCM) at COP27 in Egypt.

The US and China will resume official talks on climate change, after their leaders held a meeting at the G20 Summit in Bali on Monday, raising hopes that the move will spur substantial progress to the so-far sluggish COP27 negotiations in Sharm el-Sheikh.

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India published its long-term climate strategy on Monday that will steer the world's third biggest emitter towards meeting a net zero target by 2070, focusing on technological solutions such as scaling hydrogen and CCS, reducing household demand, and phasing out its coal production.

As the talks continued, there was a day of protests on Saturday outside the UN climate summit in Sharm el-Sheikh

• Cop27 live – latest news updates

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The Paris Agreement’s carbon trading rulebook offers ways for non-UN member Taiwan to participate in the emerging Article 6 market, though it would require extensive cooperation from seller countries and updates to domestic legislation, according to experts.

Despite Labor’s increased emissions target, Australia has only improved four places to 55th out of 63 in the annual index

Australia continues to trail other developed countries in addressing the climate crisis, in part due to the Albanese government’s support for new fossil fuel developments, according to an analysis released at the Cop27 UN conference in Egypt.

The climate change performance index, published by Germanwatch, the NewClimate Institute and the Climate Action Network with input from 450 climate and energy experts and campaigners, found Australia was still a “very low performing country”. It ranked 55th on a list of 63 countries and country groupings, up from 59th last year.

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World leaders need to appreciate the importance of local authorities in nations most affected by climate change

When I say Africans are deeply disappointed with Cop27 so far, I don’t want to be misunderstood. There have been real signs of progress, including meaningful shifts towards climate justice by European leaders. But the hope that the global south would have its voice heard by the most powerful nations at this year’s Cop summit has – predictably enough – failed to materialise.

For years now, global climate negotiations have been dominated by world leaders, policymakers and intergovernmental organisations, leaving little space for anyone else. There is not really any impetus to do otherwise.

Ndileka Mandela is a writer, social activist and the head of the Thembekile Mandela Foundation, which focuses on education, health, youth and women’s development in rural villages

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