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Russia to present climate strategy at Cop 29

  • Market: Coal, Crude oil, Emissions, Natural gas, Oil products
  • 09/10/24

Russia is preparing to present its climate strategy at the UN Cop 29 climate conference in Baku, Azerbaijan, in November, deputy prime minister Alexander Novak said.

Novak convened a meeting with Russian ministries on climate issues on 7 October, in which a forecast for Russia's emissions rates, in line with the country's 'low emissions economic development strategy to 2050', was discussed. The strategy was approved in 2021.

It is unclear whether the strategy is linked to Russia's new Nationally Determined Contribution (NDC) — a climate plan to be submitted to the UN. Cop parties are expected to publish their next NDCs to the Paris climate agreement — this time for 2035 — in November-February, as part of a cycle that requires countries to "ratchet up" their commitments every five years.

Russia's president Vladimir Putin announced Russia's 2060 net zero ambitions in October 2021, but the country has not updated its NDC since 2020.

The Cop 28 agreement signed in the UAE last year included an energy section calling for "transitioning away from fossil fuels in energy systems", a tripling of renewable capacity by 2030 and for "accelerating action in this critical decade", giving the direction countries need to take in the energy transition.

The country's main focus is on doubling the absorptive capacity of Russia's forests and producing and exporting more gas, to replace demand for more carbon-intensive oil and coal. Russia has no plans to reduce coal and oil output.

Russia's climate envoy Ruslan Edelgeriyev said in November 2022 that Moscow could achieve net zero a decade earlier than in 2060 if its access to international debt markets and technology was not blocked because of the sanctions imposed over Ukraine.

While reiterating net zero ambitions last year despite the sanctions, Putin repeatedly called accelerated decarbonisation irresponsible, claiming that it contributed to Europe's energy crisis in 2021.


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09/10/24

US September OCTG, line pipe imports may rise

US September OCTG, line pipe imports may rise

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African petroleum body seeks EU CO2 tax moratorium


09/10/24
News
09/10/24

African petroleum body seeks EU CO2 tax moratorium

Cape Town, 9 October (Argus) — African states must push for a moratorium on the EU's impending carbon tax when they attend the UN Cop 29 climate talks in Baku, Azerbaijan, next month, said the African Petroleum Producers Organisation (APPO). APPO's secretary-general Omar Farouk Ibrahim made the call at Africa Oil Week currently underway in Cape Town, South AFrica. "As we prepare to go to Baku for Cop 29, I invite those who represent the interests of our continent in the negotiations to sound the alarm on the implications for Africa of the planned implementation of the EU carbon border adjustment mechanism," Ibrahim said. The mess called climate change was not created by Africans, APPO's secretary-general said. Today's industrialised countries are responsible for most of the greenhouse (GHG) emissions of the past 120 years, he said. This is the time to sound the alarm and ask for a moratorium on CBAM so that Africa can benefit, he added. "That is what an energy transition is in our opinion. If we don't, we're in for trouble [as] it will stifle our industrial and economic development," according to Ibrahim. Africa deserves better — it cannot develop without fossil fuels, he concluded. By Elaine Mills Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

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Nigeria to halt jet imports to support Dangote refinery


09/10/24
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09/10/24

Nigeria to halt jet imports to support Dangote refinery

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Thailand's Gulf Energy launches 5,300MW gas-fired plant


09/10/24
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09/10/24

Thailand's Gulf Energy launches 5,300MW gas-fired plant

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Japan’s power sector cuts CO2 emissions in 2023-24


09/10/24
News
09/10/24

Japan’s power sector cuts CO2 emissions in 2023-24

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