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Another #G7 Summit close the curtains Final communiqué👉 g7italy.it/wp-content/upl… Despite great diplomatic efforts by Italy to bring most G20 leaders around the table and a promising menu, we are left with a rather empty stomach on #climate and #finance. A missed opportunity 🧵

Environmentally harmful subsidies (EHS) are a more than trillion dollar question. At UN Biodiversity #COP16Colombia, set to begin next week, governments must advance action on subsidies driving biodiversity loss & climate change. Take a closer look: 🧵1/5

At a side event at #COP16Colombia, IISD's Patricia Fuller today stressed that civil society, businesses, and governments must work together to implement & deliver Target 18 of the Global Biodiversity Framework on reforming #EnvironmentallyHarmfulSubsidies.

The total amount of #EnvironmentallyHarmfulSubsidies is estimated at over USD 1 trillion in 2023 alone. #EHS reform is 🔑 to ensure social equity, protect the environment, maintain fiscal stability, & promote economic competitiveness, said Patricia Fuller. #COP16Colombia #GBF

After committing to reduce #EnvironmentallyHarmfulSubsidies by USD 500bn/year in a historic global deal at COP15 in 2022, countries failed to make any progress on the issue at #COP16Colombia. What's next? IISD’s Farooq Ullah explains how countries can turn this around 👇

📣With upcoming national climate plans due in Feb. gov'ts must deliver on their pledge to transition away from fossil fuels—but ensuring shifts are equitable is vital. Explore what countries are doing & what challenges they face at #COP29 this Thursday!👇 iisd.org/events/cop-29-…

Introducing a discussion led by Farooq Ullah at #COP29, Patricia Fuller called for strengthened NDCs that commit to no new fossil fuel exploration and set explicit, ambitious target dates for reducing production. More from Earth Negotiations Bulletin ▶️ enb.iisd.org/ndc-ambition-t…

G20 leaders have expressed their support for successful negotiations at #COP29Baku from a summit in Rio. However, the group’s statement has significant omissions, leaving ministers with much work to do to land an ambitious outcome in Baku. gov.br/planalto/pt-br… 🧵 [1/6]

“This G20 statement lacks much-needed leadership. It sends a weak signal on climate finance and regresses on energy transition commitments. Ministers in Baku must step up to mobilize resources and sustain momentum away from fossil fuels to clean energy” - Farooq Ullah [5/5]

With the finish line in sight at #COP29, discussions must be ambitious and drive a just and fair global #EnergyTransition. IISD Energy’s @roo_ullah calls for renewed focus to build on COP 28 agreement to 3x renewable energy capacity and transition away from fossil fuels.

🗣️ #ClimateFinance is critical to ensuring we have the levels of ambition needed to achieve implementation on the ground. As #COP29 enters the final stretch, IISD's @roo_ullah explains where negotiations stand ➕ what's needed for a just & fair #EnergyTransition. 👇

📣Delivering a new #ClimateFinance goal is a key benchmark of success at #COP29—but with 2 days to go the draft text has [X] where a $ figure should be. How are negotiations shaping up & what’s still needed? 🧵[1/5] Pics: IISD/ENB | Mike Muzurakis

A historic deal to shift $41 billion per year out of fossil fuels to clean energy could be agreed tomorrow IF Korea stops blocking. 윤석열 Yoon Suk Yeol, 대한민국 외교부 MOFA_KR, Korea must join with other countries and agree on an OECD deal to #StopFundingFossils: tinyurl.com/328knjeh

The UK has submitted a national climate plan or #NDC to the UN, aiming to cut emissions 81% from 1990 levels by 2035. This is in line with official advice from Climate Change Committee and puts the UK on a path to net zero emissions by 2050. 🧵 1/4

📣 Environmentally harmful subsidies exceed USD 2 trillion/year surpassing 🌎 finance goals for biodiversity & climate. Our 🆕 report offers a framework to catalyze action & ensure 💰 supports environment & social goals. 👇 iisd.org/publications/r…

Environmentally harmful subsidies: 🦋drive biodiversity loss 🌡️fuel #ClimateChange 💰strain gov't budgets 💡distort markets & stall innovation Coordinated action by philanthropic organizations can help change shift financial flows. Our 🆕 report explains: iisd.org/publications/r…

The G7 is missing targets on fossil fuel subsidy reform. To advance action, each G7 member should: 1️⃣ Create a national plan for phasing out subsidies 2️⃣ Agree to rule out new subsidies 3️⃣ Commit to ending domestic public finance for fossil fuels More ▶️ iisd.org/articles/how-g…

Fossil fuel subsidy reform can: 1️⃣ Help governments to expand fiscal space 2️⃣ Strengthen energy security 3️⃣ Level the playing field for all energy sources including renewables Vance Culbert explains why now is the time for reform 🔗 iisd.org/explainer/refo…

#EnergySecurity is not just about today’s supply, it’s about building energy systems that foster economic development, political stability, & long-term prosperity. Fossil fuel subsidies don’t support energy security: they erode progress. Here's how:🧵1/10 iisd.org/articles/deep-…

🗣️“Fossil fuels have failed to deliver energy security; the clean energy transition is the best way to shield customers from these threats." With the International Energy Agency #EnergySecurity Summit underway, IISD's Farooq Ullah stresses that diverse, domestic clean energy is vital.