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COP27: Daily snapshot 12/11

COP27: Daily snapshot 12/11
  • US targets methane leaks with renewed scrutiny
  • Multilateral development banks challenged by Prime Minister of Barbados
  • I-CAN initiative launched to mark Adaptation Day

Biden to tighten restrictions around methane leaks from oil wells

The Biden administration has announced revised plans to limit methane emissions from oil and gas wells after criticism from environmentalists, according to Bloomberg.

The proposed regulations will require energy companies to do more to reduce leaks, with regular inspections even at low-producing wells. This is significant, with methane being 80 times more powerful than carbon dioxide in the first 20 years of its release.

COP27: Powerful dispatches, muted protests and little cash

The Guardian notes that despite loss and damage being the headline issue of COP27 that there has been relatively little funding committed. The article also quotes Mia Mottley, Prime Minister of Barbados, who challenged the effectiveness of multilateral development banks:

“They do not describe 21st-century issues, Climate justice was not an issue then,” she said. The World Bank counters this claim, highlighting $31.7bn of project financing for climate in 2022.

Adaptation Day sees launch of nutrition-climate initiative

COP27 Presidency nation, Egypt and the World Health Organization have launched an ‘Initiative on Climate Action and Nutrition (I-CAN).’ The initiative will help to integrate climate change adaptation and mitigation policy action in nutrition and sustainable food systems, with ‘mutually beneficial outcomes.’

Dr Maria Helena Semedo, Deputy Director General, of Food and Agriculture Organization called the initiative a “win-win” for three sectors— agriculture, adaptation and nutrition. (Forbes)

All the latest from COP27

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