Net Zero: United States and China announce an agreement that promotes climate cooperation

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The The United States and China, the two largest carbon emitters in the world, have jointly announced a deal increase cooperation between the two countries on the climate crisis.

US climate envoy John Kerry and his Chinese counterpart Xie Zhenhua announced the framework agreement at the COP26 climate summit in Glasgow, Scotland. Among other things, the agreement focuses on reducing methane emissions, phasing out coal consumption and protecting forests.

“Together we have defined our support for a successful COP26, including some elements that will promote ambition,” Kerry said at a press conference. “Every step is important right now and we have a long journey ahead of us.”

It should be noted that Xie did not commit China to the Global Methane Pledge, a US and EU-led initiative that obliges participants to cut methane emissions by about a third.

However, he announced that China would begin gradually reducing coal consumption towards the end of this decade.

“The release of this joint declaration shows once again that cooperation is the only choice for both China and the United States. By working together our two countries can achieve many important things that are beneficial not only for our two countries. , but for the world as a whole, ”Xie said. Reuters has the full story.

Internationally

In a draft that will be negotiated in the next two days, the United Kingdom proposed at COP26 that nations increase their ambitions to reduce greenhouse gas emissions by the end of 2022. The draft also called on countries to phase out subsidies for coal, oil and gas, but stopped proposing a set date to phase them out.

The draft was criticized by environmental groups such as Greenpeace, who said the proposed deal “is not a plan to solve the climate crisis, it is an agreement where we all cross our fingers and hope for the best.”

Meanwhile, the draft also received rejection from the Alliance of Small Island States.

“The text provides a foundation for moving forward, but it needs to be strengthened in key areas to address the needs of the most vulnerable, especially finance,” said Aubrey Webson, president of the organization that represents 37 of the most at-risk countries. The Guardian has that story.

Even at COP26, top OPEC representatives defended a future role for fossil fuels, arguing that the world can reduce emissions without abandoning oil and gas. Reuters also has that story

Thursday morning at 7:55 am, West Texas Intermediate traded at US $ 80.69 and Brent Crude at US $ 82.14.

In Canada

A new forecast from the Petroleum Services Association of Canada suggests oil activity will return to pre-pandemic levels in 2022. Canadian press has the details.

To the west, the University of Calgary analysis found that the overall economic, social and environmental impacts of a coal mine on protected land on the eastern slopes of the Rocky Mountains would be a distinct negative for the province.

Jennifer Winter, an economics professor at the university, said such a mine would be only marginally profitable and that her labor and tax benefits would be relatively small compared to the provincial economy. The Canadian press also has that story

In Glasgow, Lisa Koperqualuk, vice president of the Inuit Circumpolar Council, calls for a clean up of the Arctic shipping industry and calls for a ban on black carbon. Better known as soot, carbon black is emitted by ships operating in the Arctic that burn heavy fuel oil. Nunatsiaq News has more.

Finally, the logging began in a forest in Digby County, Nova Scotia, which was the site of a lockdown last year, despite numerous requests from the Nova Scotia Mi’kmaw Chiefs Assembly to stop logging in Nova Scotia. area.

“We have raised these concerns to the provincial government as the Mi’kmaq only supports multi-aged and highly retentive eco-forestry,” said head Leroy Denny, who leads the land portfolio with the assembly. CBC News has the details.

The Canadian Crude Oil Index was trading at US $ 60.68 and the Western Canadian Selection at US $ 60.84 this morning at 7:56

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