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COP26: Several nations pledge to end overseas fossil fuel finance 2 HOURS AGO

Published

3 years ago

04/11/2021

MNN

By covering all fossil fuels, including oil and gas, the deal goes further than a pledge made by G20 countries this year to halt overseas financing for just coal.

The United States, Canada and 18 other countries have committed at the COP26 climate summit to stop public financing for fossil fuel projects abroad by the end of next year, and steer their spending into clean energy instead.

“We will end new direct public support for the international unabated fossil fuel energy sector by the end of 2022,” they said in a declaration on Thursday.

That would cover coal, oil and gas projects that are “unabated” – meaning that they burn fossil fuels without using technology to capture the resulting CO2 emissions.

The deal allowed for exemptions in unspecified “limited” circumstances, which it said must be consistent with the Paris Agreement’s target to cap global warming at 1.5C.

It goes further than a pledge made by G20 countries this year to halt overseas financing for just coal.

The 20 countries that signed the pledge include Denmark, Italy, Finland, Costa Rica, Ethiopia, Gambia, New Zealand and the Marshall Islands, plus five development institutions including the European Investment Bank and the East African Development Bank.

But it did not include major Asian countries responsible for the bulk of such financing abroad.

Campaigners called the commitment a “historic” step in turning off the funding taps for fossil fuel projects.

Rising pressure to limit emissions

Governments and financial institutions are facing increased pressure to stop funding coal, oil and gas projects responsible for producing the greenhouse gas emissions that are driving climate change, both at home and abroad.

Denmark said on Wednesday that it would halt international financing for investments, projects or activities that promote fossil fuels by the end of this year, with exemptions for some gas projects that meet “strict conditions” until 2025.

The COP26 deal also aligns with policies in countries including Britain, which ended direct government support for new fossil fuel projects overseas this year. The European Investment Bank has also committed to end oil and gas project funding this year.

The agreement, while not binding, would attempt to build consensus between wealthier and poorer nations around overseas financial support to stop backing fossil fuel projects and instead support clean energy both to curb emissions and to avoid building stranded assets.

Source: TRTWorld and agencies

News

Maldivian FM meets Qatari PM; both commit to stronger ties

Published

2 days ago

12/05/2024

Maldives and Qatar reaffirm the commitment to strengthening the partnership between the two countries on Sunday, in a meeting between Maldivian Foreign Minister Moosa Zameer and Sheikh Mohammed bin Abdulrahman bin Jassim Al Thani, the Prime Minister and Foreign Minister of Qatar.

Zameer, who is on an official visit to Qatar, met with Al Thani on Sunday morning.

At the meeting, Zameer reflected on the growing Maldives-Qatar partnership, and thanked Qatar for the generous assistance in Maldives’ socio-economic development.

According to a statement released by the Maldivian Foreign Ministry, both Zameer and Al Thani reiterated the commitment to deepen bilateral cooperation between the two countries.

Zameer also conveyed appreciation for Qatar’s role in the mediation process on the Gaza crisis.

Both reaffirmed their commitment to further strengthen the partnership in the multilateral fora on matters of global concern.

Zameer was accompanied at the meeting by Secretary, Bilateral, Dr. Hala Hameed, Ambassador-at-Large, Dr. Fazeel Najeeb, and Assistant Director, Lamha Saleem.

This year will mark the 40th anniversary of bilateral relations between the Maldives and Qatar.

According to the Foreign Ministry, Zameer is also scheduled to meet with other senior officials from the Qatari government to explore opportunities to enhance cooperation in various sectors between the two countries.

Zameer’s latest trip comes at the heels of a similar visit to India last week.

Source(s): sun.mv

News

President recognises forefront services of nurses

Published

2 days ago

12/05/2024

President Dr. Mohamed Muizzu has praised the dedicated efforts of nurses, stating that they fulfil a national obligation by providing forefront services. He made the remarks on a social media post, commemorating International Nurses Day.

In the post shared on social media, President Dr. Muizzu recognised the unwavering commitment of nurses, characterising their contributions and services as a valuable, significant responsibility for humanity. The president additionally commended the dedication of nurses for ensuring the provision of cutting edge care.

The International Nurses Day is annually celebrated on May 12, aiming to acknowledge the pivotal role nurses play, as they are the backbone of the healthcare system. The theme for International Nurses Day 2024 is “Our Nurses. Our Future. The economic power of care.” The purpose of selecting the theme was to emphasise the significance of reshaping perceptions of the economic and societal advantages of the nursing field, such that nursing can be seen as an investment rather than a cost.

Source(s): PsmNews

News

Government launches Hope Island for crime-exposed kids

Published

2 days ago

12/05/2024

The Ministry of Homeland Security and Technology has announced the launch of Hope Island, a rehabilitation initiative aimed at children exposed to crime.

Speaking at a collaborative press briefing involving agencies under the homeland ministry, Minister Ali Ihusaan outlined the planning efforts for Hope Island. He emphasised the provision of fundamental education and religious guidance for the children residing there. He also highlighted the implementation of psychosocial intervention and sports programmes on the island.

Additionally, Minister Ihusaan disclosed that children would reside on Hope Island until they turn 18 years, and serve a designated term in either the Maldives Police Service (MPS) or the Maldives National Defence Force (MNDF). Subsequently, he said that they would be granted opportunities to pursue their chosen careers.

Furthermore, Minister Ihusaan announced a reduction in the age of criminal responsibility to 15 years, with previous advocacy for lowering it to 12 years. He cited instances of 12-year-olds engaging in criminal activities and revealed ongoing legal initiatives, in collaboration with the Prosecutor General’s Office (PGO), to effect the change.

Moreover, Minister Ihusaan revealed plans to direct 12-year-old offenders to Hope Island for rehabilitation, with a dedicated facility established to mitigate exposure to criminal influences. He also disclosed intentions to develop a separate island specifically for this rehabilitation facility.

Source(s): PsmNews