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MainNavigation_tertiaryLink__nq_tc" href="/en/commodities/base-oils-and-waxes">Base oils and waxes</a></li><li class="MainNavigation_tertiaryItem__JMSfK qa-nav-3rd-items"><a title="" target="" class="cta MainNavigation_tertiaryLink__nq_tc" href="/en/commodities/bitumen-and-asphalt">Bitumen / Asphalt</a></li></ul></li><li class="MainNavigation_secondaryItem__b3LkS qa-nav-2nd-items "><a title="" target="" class="cta MainNavigation_secondaryLink__dWmVz" href="/en/commodities/lpg">LPG/NGL</a></li><li class="MainNavigation_secondaryItem__b3LkS qa-nav-2nd-items "><button class="cta MainNavigation_secondaryLink__dWmVz">Gas and power</button><ul class="MainNavigation_tertiaryList__5v6Ig qa-nav-3rd"><li class="MainNavigation_tertiaryItem__JMSfK qa-nav-3rd-items"><a title="" target="" class="cta MainNavigation_tertiaryLink__nq_tc" href="/en/commodities/gas-and-power">Gas and power overview</a></li><li class="MainNavigation_tertiaryItem__JMSfK qa-nav-3rd-items"><a title="" target="" class="cta MainNavigation_tertiaryLink__nq_tc" href="/en/commodities/natural-gas">Natural gas</a></li><li class="MainNavigation_tertiaryItem__JMSfK qa-nav-3rd-items"><a title="" target="" class="cta MainNavigation_tertiaryLink__nq_tc" href="/en/commodities/lng">LNG</a></li><li class="MainNavigation_tertiaryItem__JMSfK qa-nav-3rd-items"><a title="" target="" class="cta MainNavigation_tertiaryLink__nq_tc" href="/en/commodities/electric-power">Electric power</a></li><li class="MainNavigation_tertiaryItem__JMSfK qa-nav-3rd-items"><a title="" target="" class="cta MainNavigation_tertiaryLink__nq_tc" href="/en/commodities/hydrogen">Hydrogen</a></li><li class="MainNavigation_tertiaryItem__JMSfK qa-nav-3rd-items"><a title="" target="" class="cta MainNavigation_tertiaryLink__nq_tc" href="/en/commodities/carbon-markets">Carbon markets</a></li><li class="MainNavigation_tertiaryItem__JMSfK qa-nav-3rd-items"><a title="" target="" class="cta MainNavigation_tertiaryLink__nq_tc" href="/en/solutions/products/argus-biomass-markets">Biomass</a></li></ul></li><li class="MainNavigation_secondaryItem__b3LkS qa-nav-2nd-items "><a title="" target="" class="cta MainNavigation_secondaryLink__dWmVz" href="/en/commodities/coal">Coal</a></li><li class="MainNavigation_secondaryItem__b3LkS qa-nav-2nd-items "><button class="cta MainNavigation_secondaryLink__dWmVz">Net zero</button><ul class="MainNavigation_tertiaryList__5v6Ig qa-nav-3rd"><li class="MainNavigation_tertiaryItem__JMSfK qa-nav-3rd-items"><a title="" target="" class="cta MainNavigation_tertiaryLink__nq_tc" href="/en/commodities/net-zero">Net zero overview</a></li><li class="MainNavigation_tertiaryItem__JMSfK qa-nav-3rd-items"><a title="" target="" class="cta MainNavigation_tertiaryLink__nq_tc" href="/en/commodities/biofuels-and-feedstocks">Biofuels and feedstocks</a></li><li class="MainNavigation_tertiaryItem__JMSfK qa-nav-3rd-items"><a title="" target="" class="cta MainNavigation_tertiaryLink__nq_tc" href="/en/commodities/ammonia">Ammonia</a></li><li class="MainNavigation_tertiaryItem__JMSfK qa-nav-3rd-items"><a title="" target="" class="cta MainNavigation_tertiaryLink__nq_tc" href="/en/commodities/hydrogen">Hydrogen</a></li><li class="MainNavigation_tertiaryItem__JMSfK qa-nav-3rd-items"><a title="" target="" class="cta MainNavigation_tertiaryLink__nq_tc" href="/en/commodities/battery-materials">Battery materials</a></li><li class="MainNavigation_tertiaryItem__JMSfK qa-nav-3rd-items"><a title="" target="" class="cta MainNavigation_tertiaryLink__nq_tc" href="/en/solutions/products/argus-biomass-markets">Biomass</a></li><li class="MainNavigation_tertiaryItem__JMSfK qa-nav-3rd-items"><a title="" target="" class="cta MainNavigation_tertiaryLink__nq_tc" href="/en/commodities/electric-power">Electric power</a></li></ul></li><li class="MainNavigation_secondaryItem__b3LkS qa-nav-2nd-items "><button class="cta MainNavigation_secondaryLink__dWmVz">Chemicals</button><ul class="MainNavigation_tertiaryList__5v6Ig qa-nav-3rd"><li class="MainNavigation_tertiaryItem__JMSfK qa-nav-3rd-items"><a title="" target="" class="cta MainNavigation_tertiaryLink__nq_tc" href="/en/commodities/chemicals">Chemicals overview</a></li><li class="MainNavigation_tertiaryItem__JMSfK qa-nav-3rd-items"><a title="" target="" class="cta MainNavigation_tertiaryLink__nq_tc" href="/en/commodities/methanol">Methanol</a></li><li class="MainNavigation_tertiaryItem__JMSfK qa-nav-3rd-items"><a title="" target="" class="cta MainNavigation_tertiaryLink__nq_tc" href="/en/commodities/polymers">Polymers</a></li><li class="MainNavigation_tertiaryItem__JMSfK qa-nav-3rd-items"><a title="" target="" class="cta MainNavigation_tertiaryLink__nq_tc" href="/en/commodities/light-olefins">Light olefins</a></li><li class="MainNavigation_tertiaryItem__JMSfK qa-nav-3rd-items"><a title="" target="" class="cta MainNavigation_tertiaryLink__nq_tc" href="/en/commodities/heavy-olefins">Heavy olefins</a></li><li class="MainNavigation_tertiaryItem__JMSfK qa-nav-3rd-items"><a title="" target="" class="cta MainNavigation_tertiaryLink__nq_tc" href="/en/commodities/aromatics">Aromatics</a></li><li class="MainNavigation_tertiaryItem__JMSfK qa-nav-3rd-items"><a title="" target="" class="cta MainNavigation_tertiaryLink__nq_tc" href="/en/commodities/octane-blending">Octane blending</a></li><li class="MainNavigation_tertiaryItem__JMSfK qa-nav-3rd-items"><a title="" target="" class="cta MainNavigation_tertiaryLink__nq_tc" href="/en/commodities/chlor-alkali">Chlor-alkali</a></li><li class="MainNavigation_tertiaryItem__JMSfK qa-nav-3rd-items"><a title="" target="" class="cta MainNavigation_tertiaryLink__nq_tc" href="/en/commodities/polyurethanes">Polyurethanes</a></li><li class="MainNavigation_tertiaryItem__JMSfK qa-nav-3rd-items"><a title="" target="" class="cta MainNavigation_tertiaryLink__nq_tc" href="/en/commodities/oleochemicals">Oleochemicals</a></li></ul></li><li class="MainNavigation_secondaryItem__b3LkS qa-nav-2nd-items "><button class="cta MainNavigation_secondaryLink__dWmVz">Fertilizers</button><ul class="MainNavigation_tertiaryList__5v6Ig qa-nav-3rd"><li class="MainNavigation_tertiaryItem__JMSfK qa-nav-3rd-items"><a title="" target="" class="cta MainNavigation_tertiaryLink__nq_tc" href="/en/commodities/fertilizers">Fertilizers overview</a></li><li class="MainNavigation_tertiaryItem__JMSfK qa-nav-3rd-items"><a title="" target="" class="cta MainNavigation_tertiaryLink__nq_tc" href="/en/commodities/ammonia">Ammonia</a></li><li class="MainNavigation_tertiaryItem__JMSfK qa-nav-3rd-items"><a title="" target="" class="cta MainNavigation_tertiaryLink__nq_tc" href="/en/commodities/nitrogen">Nitrogen</a></li><li class="MainNavigation_tertiaryItem__JMSfK qa-nav-3rd-items"><a title="" target="" class="cta MainNavigation_tertiaryLink__nq_tc" href="/en/commodities/npks">NPKs</a></li><li class="MainNavigation_tertiaryItem__JMSfK qa-nav-3rd-items"><a title="" target="" class="cta MainNavigation_tertiaryLink__nq_tc" href="/en/commodities/phosphates">Phosphates</a></li><li class="MainNavigation_tertiaryItem__JMSfK qa-nav-3rd-items"><a title="" target="" class="cta MainNavigation_tertiaryLink__nq_tc" href="/en/commodities/potash">Potash</a></li><li class="MainNavigation_tertiaryItem__JMSfK qa-nav-3rd-items"><a title="" target="" class="cta MainNavigation_tertiaryLink__nq_tc" href="/en/commodities/sulphur-and-sulphuric-acid">Sulphur and sulphuric acid</a></li><li class="MainNavigation_tertiaryItem__JMSfK qa-nav-3rd-items"><a title="" target="" class="cta MainNavigation_tertiaryLink__nq_tc" href="/en/commodities/sustainable-and-specialty-fertilizers">Sustainable and specialty fertilizers</a></li></ul></li><li class="MainNavigation_secondaryItem__b3LkS qa-nav-2nd-items "><button class="cta MainNavigation_secondaryLink__dWmVz">Metals</button><ul class="MainNavigation_tertiaryList__5v6Ig qa-nav-3rd"><li class="MainNavigation_tertiaryItem__JMSfK qa-nav-3rd-items"><a title="" target="" class="cta MainNavigation_tertiaryLink__nq_tc" href="/en/commodities/metals">Metals overview</a></li><li class="MainNavigation_tertiaryItem__JMSfK qa-nav-3rd-items"><a title="" target="" class="cta MainNavigation_tertiaryLink__nq_tc" href="/en/commodities/steel">Steel</a></li><li class="MainNavigation_tertiaryItem__JMSfK qa-nav-3rd-items"><a title="" target="" class="cta MainNavigation_tertiaryLink__nq_tc" href="/en/commodities/steel-raw-materials">Steel raw materials</a></li><li class="MainNavigation_tertiaryItem__JMSfK qa-nav-3rd-items"><a title="" target="" class="cta MainNavigation_tertiaryLink__nq_tc" href="/en/commodities/battery-materials">Battery materials</a></li><li class="MainNavigation_tertiaryItem__JMSfK qa-nav-3rd-items"><a title="" target="" class="cta MainNavigation_tertiaryLink__nq_tc" href="/en/commodities/specialty-and-minor-metals">Minor metals</a></li><li class="MainNavigation_tertiaryItem__JMSfK qa-nav-3rd-items"><a title="" target="" class="cta MainNavigation_tertiaryLink__nq_tc" href="/en/commodities/rare-earths">Rare earths</a></li><li class="MainNavigation_tertiaryItem__JMSfK qa-nav-3rd-items"><a title="" target="" class="cta MainNavigation_tertiaryLink__nq_tc" href="/en/commodities/alloys">Alloys</a></li><li class="MainNavigation_tertiaryItem__JMSfK qa-nav-3rd-items"><a title="" target="" class="cta MainNavigation_tertiaryLink__nq_tc" href="/en/commodities/scrap">Scrap</a></li><li class="MainNavigation_tertiaryItem__JMSfK qa-nav-3rd-items"><a title="" target="" class="cta MainNavigation_tertiaryLink__nq_tc" href="/en/commodities/pipe-and-tube">Pipe and tube</a></li><li class="MainNavigation_tertiaryItem__JMSfK qa-nav-3rd-items"><a title="" target="" class="cta MainNavigation_tertiaryLink__nq_tc" href="/en/commodities/base-metals">Base metals</a></li></ul></li><li class="MainNavigation_secondaryItem__b3LkS qa-nav-2nd-items "><a title="" target="" class="cta MainNavigation_secondaryLink__dWmVz" href="/en/commodities/agriculture">Agriculture</a></li></ul></li><li class="MainNavigation_primaryItem__myUif qa-nav-primary-items "><button type="button" class="cta MainNavigation_primaryLink__tYxec">Industries</button><ul class="MainNavigation_secondaryList__iQt0k qa-nav-2nd"><li class="MainNavigation_secondaryItem__b3LkS qa-nav-2nd-items "><a title="" target="" class="cta MainNavigation_secondaryLink__dWmVz" href="/en/industries">Industries overview</a></li><li class="MainNavigation_secondaryItem__b3LkS qa-nav-2nd-items "><a title="" target="" class="cta MainNavigation_secondaryLink__dWmVz" href="/en/industries/freight">Freight</a></li><li class="MainNavigation_secondaryItem__b3LkS qa-nav-2nd-items "><a title="" target="" class="cta MainNavigation_secondaryLink__dWmVz" href="/en/industries/upstream-oil-and-gas">Upstream oil and gas</a></li><li class="MainNavigation_secondaryItem__b3LkS qa-nav-2nd-items "><a title="" target="" class="cta MainNavigation_secondaryLink__dWmVz" href="/en/industries/oil-refining-and-distribution">Oil refining and distribution</a></li><li class="MainNavigation_secondaryItem__b3LkS qa-nav-2nd-items "><a title="" target="" class="cta MainNavigation_secondaryLink__dWmVz" href="/en/industries/biofuels-production">Biofuels production</a></li><li class="MainNavigation_secondaryItem__b3LkS qa-nav-2nd-items "><a title="" target="" class="cta MainNavigation_secondaryLink__dWmVz" href="/en/industries/aviation">Aviation</a></li><li class="MainNavigation_secondaryItem__b3LkS qa-nav-2nd-items "><a title="" target="" class="cta MainNavigation_secondaryLink__dWmVz" href="/en/industries/petrochemicals">Petrochemicals</a></li><li class="MainNavigation_secondaryItem__b3LkS qa-nav-2nd-items "><a title="" target="" class="cta MainNavigation_secondaryLink__dWmVz" href="/en/industries/natural-gas-and-power-distribution">Natural gas and power distribution</a></li><li class="MainNavigation_secondaryItem__b3LkS qa-nav-2nd-items "><a title="" target="" class="cta MainNavigation_secondaryLink__dWmVz" href="/en/industries/power-generation">Power generation</a></li><li class="MainNavigation_secondaryItem__b3LkS qa-nav-2nd-items "><a title="" target="" class="cta MainNavigation_secondaryLink__dWmVz" href="/en/industries/mining">Mining</a></li><li class="MainNavigation_secondaryItem__b3LkS qa-nav-2nd-items "><a title="" target="" class="cta MainNavigation_secondaryLink__dWmVz" href="/en/industries/industrial-manufacturing">Industrial manufacturing</a></li><li class="MainNavigation_secondaryItem__b3LkS qa-nav-2nd-items "><a title="" target="" class="cta MainNavigation_secondaryLink__dWmVz" href="/en/industries/automotive-manufacturing">Automotive</a></li><li class="MainNavigation_secondaryItem__b3LkS qa-nav-2nd-items "><a title="" target="" class="cta MainNavigation_secondaryLink__dWmVz" href="/en/industries/agri-industry">Agri-industry</a></li><li class="MainNavigation_secondaryItem__b3LkS qa-nav-2nd-items "><a title="" target="" class="cta MainNavigation_secondaryLink__dWmVz" href="/en/industries/storage-terminals">Storage terminals</a></li></ul></li><li class="MainNavigation_primaryItem__myUif qa-nav-primary-items "><button type="button" class="cta MainNavigation_primaryLink__tYxec">Solutions</button><ul class="MainNavigation_secondaryList__iQt0k qa-nav-2nd"><li class="MainNavigation_secondaryItem__b3LkS qa-nav-2nd-items "><a title="" target="" class="cta MainNavigation_secondaryLink__dWmVz" href="/en/solutions">Solutions overview</a></li><li class="MainNavigation_secondaryItem__b3LkS qa-nav-2nd-items "><a title="" target="" class="cta MainNavigation_secondaryLink__dWmVz" href="/en/solutions/products">Products</a></li><li class="MainNavigation_secondaryItem__b3LkS qa-nav-2nd-items "><button class="cta MainNavigation_secondaryLink__dWmVz">Commodity prices</button><ul class="MainNavigation_tertiaryList__5v6Ig qa-nav-3rd"><li class="MainNavigation_tertiaryItem__JMSfK qa-nav-3rd-items"><a title="" target="" class="cta MainNavigation_tertiaryLink__nq_tc" href="/en/solutions/commodity-prices">Commodity prices overview</a></li><li class="MainNavigation_tertiaryItem__JMSfK qa-nav-3rd-items"><a title="" target="" class="cta MainNavigation_tertiaryLink__nq_tc" href="/en/methodology/key-commodity-prices">Key price assessments</a></li><li class="MainNavigation_tertiaryItem__JMSfK qa-nav-3rd-items"><a title="" target="" class="cta MainNavigation_tertiaryLink__nq_tc" href="/en/methodology">Methodology</a></li></ul></li><li class="MainNavigation_secondaryItem__b3LkS qa-nav-2nd-items "><a title="" target="" class="cta MainNavigation_secondaryLink__dWmVz" href="/en/solutions/market-news-and-commentary">Market news and commentary</a></li><li class="MainNavigation_secondaryItem__b3LkS qa-nav-2nd-items "><button class="cta MainNavigation_secondaryLink__dWmVz">Analytics and forecasting</button><ul class="MainNavigation_tertiaryList__5v6Ig qa-nav-3rd"><li class="MainNavigation_tertiaryItem__JMSfK qa-nav-3rd-items"><a title="" target="" class="cta MainNavigation_tertiaryLink__nq_tc" href="/en/solutions/analytics-and-forecasting">Analytics and forecasting overview</a></li><li class="MainNavigation_tertiaryItem__JMSfK qa-nav-3rd-items"><a title="" target="" class="cta MainNavigation_tertiaryLink__nq_tc" href="/en/solutions/analytics-and-forecasting/near-term-outlooks">Near term outlooks</a></li><li class="MainNavigation_tertiaryItem__JMSfK qa-nav-3rd-items"><a title="" target="" class="cta MainNavigation_tertiaryLink__nq_tc" href="/en/solutions/analytics-and-forecasting/long-term-analytics">Long term analytics</a></li><li class="MainNavigation_tertiaryItem__JMSfK qa-nav-3rd-items"><a title="" target="" class="cta MainNavigation_tertiaryLink__nq_tc" href="/en/solutions/analytics-and-forecasting/argus-forward-curves">Forward curves</a></li><li class="MainNavigation_tertiaryItem__JMSfK qa-nav-3rd-items"><a title="" target="" class="cta MainNavigation_tertiaryLink__nq_tc" href="/en/solutions/analytics-and-forecasting/data-science-and-machine-learning">Data science and machine learning</a></li></ul></li><li class="MainNavigation_secondaryItem__b3LkS qa-nav-2nd-items "><a title="" target="" class="cta MainNavigation_secondaryLink__dWmVz" href="/en/solutions/consulting-projects">Consulting projects</a></li><li class="MainNavigation_secondaryItem__b3LkS qa-nav-2nd-items "><a title="" target="" class="cta MainNavigation_secondaryLink__dWmVz" href="/en/solutions/business-intelligence-reports">Business intelligence reports</a></li><li class="MainNavigation_secondaryItem__b3LkS qa-nav-2nd-items "><button class="cta MainNavigation_secondaryLink__dWmVz">How we deliver</button><ul class="MainNavigation_tertiaryList__5v6Ig qa-nav-3rd"><li class="MainNavigation_tertiaryItem__JMSfK qa-nav-3rd-items"><a title="" target="" class="cta MainNavigation_tertiaryLink__nq_tc" href="/en/solutions/how-we-deliver">How we deliver overview</a></li><li class="MainNavigation_tertiaryItem__JMSfK qa-nav-3rd-items"><a title="" class="cta MainNavigation_tertiaryLink__nq_tc" href="/en/solutions/how-we-deliver/client-portal">Client portal</a></li><li class="MainNavigation_tertiaryItem__JMSfK qa-nav-3rd-items"><a title="" target="" class="cta MainNavigation_tertiaryLink__nq_tc" href="/en/solutions/how-we-deliver/argus-data-science-studio">Argus Data Science Studio</a></li><li class="MainNavigation_tertiaryItem__JMSfK qa-nav-3rd-items"><a title="" target="" class="cta MainNavigation_tertiaryLink__nq_tc" href="/en/solutions/how-we-deliver/argus-open-markets">Argus Open Markets</a></li><li class="MainNavigation_tertiaryItem__JMSfK qa-nav-3rd-items"><a title="" target="" class="cta MainNavigation_tertiaryLink__nq_tc" href="/en/solutions/products/argus-spot-ticker">Argus Spot Ticker</a></li><li class="MainNavigation_tertiaryItem__JMSfK qa-nav-3rd-items"><a title="" class="cta MainNavigation_tertiaryLink__nq_tc" href="/en/solutions/how-we-deliver/channel-partners">Channel partners</a></li></ul></li></ul></li><li class="MainNavigation_primaryItem__myUif qa-nav-primary-items "><button type="button" class="cta MainNavigation_primaryLink__tYxec">Events</button><ul class="MainNavigation_secondaryList__iQt0k qa-nav-2nd"><li class="MainNavigation_secondaryItem__b3LkS qa-nav-2nd-items "><a title="" target="" class="cta MainNavigation_secondaryLink__dWmVz" href="/en/events">Events overview</a></li><li class="MainNavigation_secondaryItem__b3LkS qa-nav-2nd-items "><a title="" class="cta MainNavigation_secondaryLink__dWmVz" href="/en/events/conferences">Conferences</a></li><li class="MainNavigation_secondaryItem__b3LkS qa-nav-2nd-items "><a title="" class="cta MainNavigation_secondaryLink__dWmVz" href="/en/events/forums">Forums</a></li><li class="MainNavigation_secondaryItem__b3LkS qa-nav-2nd-items "><a title="" class="cta MainNavigation_secondaryLink__dWmVz" href="/en/events/webinars">Webinars</a></li><li class="MainNavigation_secondaryItem__b3LkS qa-nav-2nd-items "><a title="" class="cta MainNavigation_secondaryLink__dWmVz" href="/en/events/our-terms">Our terms</a></li><li class="MainNavigation_secondaryItem__b3LkS qa-nav-2nd-items "><a title="" target="" class="cta MainNavigation_secondaryLink__dWmVz" href="/en/events/industry-events">Industry events</a></li></ul></li><li class="MainNavigation_primaryItem__myUif qa-nav-primary-items "><button type="button" class="cta MainNavigation_primaryLink__tYxec">News and insights</button><ul class="MainNavigation_secondaryList__iQt0k qa-nav-2nd"><li class="MainNavigation_secondaryItem__b3LkS qa-nav-2nd-items "><a title="" target="" class="cta MainNavigation_secondaryLink__dWmVz" href="/en/news-and-insights">News and insights overview</a></li><li class="MainNavigation_secondaryItem__b3LkS qa-nav-2nd-items "><a title="" class="cta MainNavigation_secondaryLink__dWmVz" 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Pushing the decision to next year would shorten the amount of time the eventual host has to prepare. But Azerbaijan won its hosting duties [only last year] at Cop 28 in Dubai. Brazil, the host of Cop 30, had its bid accepted <a href="https://direct.argusmedia.com/newsandanalysis/article/2454846">in May 2023</a>.</p><p>Under the UN Framework Convention on Climate Change (UNFCCC), Turkey is part of a grouping of western European countries, while Australia is in a group of "other states" that also includes Canada, Iceland, New Zealand, Norway, Switzerland and the US.</p><p>The Australian delegation in Baku did not immediately respond to a request for comment.</p><p>The draft text said that Cop 32 will be held in an African country from 8-19 November 2027.</p><p class="bylines">By Michael Ball</p></div><hr class="NewsPost_hr__LxnYG"/><div class="SocialShare_socialShare__FmN1Q component position-center white"><div class="component-content"><div class="container"><div class="SocialShare_list__jCvIb"><span class="SocialShare_label__3K9hV h6">Share</span><a class="qa-news-sociallinks" target="_blank" href="https://www.linkedin.com/shareArticle?mini=true&url=https%3A%2F%2Fwww.argusmedia.com%2Fen%2Fnews-and-insights%2Flatest-market-news%2F2631636-cop-decision-on-2026-host-unlikely-in-baku"><img src="/-/media/project/argusmedia/mainsite/icons/share-icons/linkedin-share.svg?iar=0&rev=3d015cb1ba364e1ea3eadea858886592&hash=73BFBA0677823AE9B22781C4937D506F" alt="linkedin-share" class="SocialShare_icon___21jS"/></a><a class="qa-news-sociallinks" target="_blank" href="https://twitter.com/intent/tweet?text=https%3A%2F%2Fwww.argusmedia.com%2Fen%2Fnews-and-insights%2Flatest-market-news%2F2631636-cop-decision-on-2026-host-unlikely-in-baku"><img src="/-/media/project/argusmedia/mainsite/icons/share-icons/twitter-share.svg?iar=0&rev=7aa38904fda849f6a1a58f8aaf4280a9&hash=A950DE62C1B76B93604166504318D83A" alt="twitter-share" class="SocialShare_icon___21jS"/></a><a class="qa-news-sociallinks" target="_blank" href="https://www.facebook.com/sharer/sharer.php?u=https%3A%2F%2Fwww.argusmedia.com%2Fen%2Fnews-and-insights%2Flatest-market-news%2F2631636-cop-decision-on-2026-host-unlikely-in-baku"><img src="/-/media/project/argusmedia/mainsite/icons/share-icons/facebook-share.svg?iar=0&rev=1a3189b21fa0487d9ac4c7119e049bd8&hash=476F33DB067318FF4590DDF07AF6F676" alt="facebook-share" class="SocialShare_icon___21jS"/></a><a class="qa-news-sociallinks" href="mailto:?subject=This%20is%20my%20email%20subject.%20undefined&body=This%20is%20my%20email%20body.%0D%0ASecond%20line.%0Ahttps%3A%2F%2Fwww.argusmedia.com%2Fen%2Fnews-and-insights%2Flatest-market-news%2F2631636-cop-decision-on-2026-host-unlikely-in-baku"><img src="/-/media/project/argusmedia/mainsite/icons/share-icons/email-share.svg?iar=0&rev=7dadfc54b63f426783e34d68f2a46aba&hash=23B7CB507CA3DFDF067EAFC53D29622D" alt="email-share" class="SocialShare_icon___21jS"/></a></div></div></div></div></div></div></div></div></div><div class="component component-padding white "><div class="component-content"><div class="container"><div class="row"><div class="col-12 col-lg-7"><h2 class="qa-relatednews-title section-heading">Related news posts</h2><p class="qa-relatednews-description">Argus illuminates the markets by putting a lens on the areas that matter most to you. The market news and commentary we publish reveals vital insights that enable you to make stronger, well-informed decisions. Explore a selection of news stories related to this one.</p></div></div><div class="row"><div class="col-12 col-lg-6"><a class="qa-combinedfeed-primary-item News_link__TcfaC News_primary__Fop2j grey" href="/en/news-and-insights/latest-market-news/2657270-canada-sets-out-climate-plan-to-hit-2035-emissions-goal"><div class="News_primaryInner__9SOga"><div class="qa-combinedfeed-item-eyebrow News_meta__Gc4kJ News_category__qm0Jk h5">News</div><div class="qa-combinedfeed-item-date News_meta__Gc4kJ News_date___zoLz h5">12/02/25</div><hr class="News_hr__BZset"/><h3 class="qa-combinedfeed-item-title News_headline__JsnZr h2 d-none d-lg-block">Canada sets out climate plan to hit 2035 emissions goal</h3><h3 class="qa-combinedfeed-item-title News_headline__JsnZr d-lg-none">Canada sets out climate plan to hit 2035 emissions goal</h3><p class="qa-combinedfeed-item-summary News_summary__eRMnt">London, 12 February (Argus) — The Canadian government has released a new climate plan for the country, detailing actions it plans to take to reach its 2035 emissions reduction targets, with several references to the outcome of the UN Cop 28 climate summit in 2023. The Canadian government announced the country's 2035 target in December . It aims to reduce greenhouse gas (GHG) emissions by 45-50pc by 2035, from 2005 levels. This builds on its target to cut emissions by 40-45pc by 2030, from the same baseline, although the country is currently "on track" to reduce emissions by 34pc by 2030, from 2005 levels, the government said. Many of the plans outlined today are in line with the first global stocktake — the key outcome from Cop 28 in December 2023 . These include phasing out unabated coal-fired power, increasing renewable energy capacity, improving energy efficiency and cutting methane — a powerful GHG. The government plans to reduce methane emissions from Canada's oil and gas sector by 75pc by 2030, from 2012 levels. It will also "explore the transfer and use of ITMOs", which are internationally transferred mitigation outcomes, or emission credits. And the country will "explore the potential" for carbon removal technologies, although the plan warned on "potential risks that must be carefully managed". The document included detailed plans from several of Canada's provinces and territories, as well as the Assembly of First Nations. But the province of Saskatchewan — for which agriculture, oil and gas production and mining are key — pushed back on federal climate policies. Canada's government based its plans on the "best available science" and included recommendations from the independent Net-Zero Advisory Body. Insured losses from severe weather in Canada hit a record high of C$8.5bn ($6bn) in 2024, the government noted. And estimates suggest that "economic losses will rise to roughly 6pc of Canada's GDP by the end of the century", it added. Canada will need investments of between C$125bn and C$140bn annually to reach its legally binding goal of net zero emissions by 2050, according to the plan. The transition "will require substantial public and private sector investment and expertise", the government said. The plan released today is known as a nationally determined contribution (NDC). Countries and jurisdictions party to the Paris climate agreement are required to submit new plans every five years, ideally increasing in ambition. Canada committed at Cop 29 in November to an NDC aligned with Paris agreement temperature goals . The Paris accord seeks to limit the rise in global temperature to "well below" 2°C above pre-industrial levels, and preferably to 1.5°C. By Georgia Gratton Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.</p></div><span class="qa-combinedfeed-item-cta cta d-none d-lg-inline-flex">Find out more</span></a></div><div class="col-12 col-lg-6"><div class="News_secondaryGroup__CVF5i"><a class="qa-combinedfeed-secondary-item News_link__TcfaC News_secondary__4Pe3A grey" href="/en/news-and-insights/latest-market-news/2656873-brazil-plans-amazon-forest-concession-sale"><div class="News_secondaryOuter__68Cw0 d-none d-lg-flex"><div class="News_secondaryInner__T663Z"><div class="qa-combinedfeed-item-eyebrow News_meta__Gc4kJ h5">News</div><h3 class="qa-combinedfeed-item-title News_headline__JsnZr">Brazil plans Amazon forest concession sale</h3></div><hr class="News_hr__BZset"/><div class="qa-combinedfeed-item-date News_meta__Gc4kJ News_date___zoLz h5">11/02/25</div></div><div class="News_secondaryOuter__68Cw0 d-flex d-lg-none"><div class="qa-combinedfeed-item-eyebrow News_meta__Gc4kJ News_category__qm0Jk h5">News</div><div class="qa-combinedfeed-item-date News_meta__Gc4kJ News_date___zoLz h5">11/02/25</div><hr class="News_hr__BZset"/><h3 class="qa-combinedfeed-item-title News_headline__JsnZr">Brazil plans Amazon forest concession sale</h3><p class="qa-combinedfeed-item-summary News_summary__eRMnt">Sao Paulo, 11 February (Argus) — Brazil's environment ministry will auction concessions in the Jaturana national forest, in northern Amazonas state, as part of government efforts to prevent deforestation. The government will sell four forest management concession areas with a combined 453,000 hectares (ha) in the Apui municipality. The concessions will require roughly R430mn ($7.4mn) in infrastructure investments and R3.4bn in operating investments over the 37-year concession period. The auction is scheduled for 21 May and will be held at the B3 exchange, in Sao Paulo state, to guarantee transparency and boost competition, the ministry said. The government plans to hold a roadshow to promote the concessions. The government estimates that the auction will generate concession payments of R32.6mn/yr, which will be split between federal environmental protection agencies, Amazonas state and the Apui city government. The winning bidders will be allowed to harvest up to six trees/ha for lumber from the concession area, according to the auction's terms elaborated by the Bndes development bank. Other select activities, including the production of açai fruit, Brazil nuts and tropical tree oils, such as copaiba and andiroba, will also be permitted. The concession terms stipulate that the winning bidder will not have control over the mineral or water rights of the region and will be required to invest in research and environmental education. With the sale of the Jaturana concessions, Brazil will increase the total amount of forest managed by the private sector — now at 1.31mn ha — by 35pc. Brazil has 23 concession contracts for nine national forests in five Brazilian states. The goal is to award a total of 5mn in forest concessions over the next three years. The Brazilian forestry service (SFB) is developing concessions for 11 other national forests, the head of the SFB Garo Batmanian said on Monday. Limiting deforestation is one of President Luiz Inacio da Silva's goals for his administration and a flagship of the country's ambitions for the UN Cop 30 summit, which will be held in Belem, the capital of northern Para state, in November. Brazil has been targeting reforestation as part of its efforts to meet its emissions-reduction target. But wildfires in the country are still a major concern, as they rose by 79pc in 2024 from a year prior , according to environmental network MapBiomas' fire monitor researching program. Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.</p></div></a><a class="qa-combinedfeed-secondary-item News_link__TcfaC News_secondary__4Pe3A grey" href="/en/news-and-insights/latest-market-news/2656596-singapore-sets-new-emissions-reduction-target-for-2035"><div class="News_secondaryOuter__68Cw0 d-none d-lg-flex"><div class="News_secondaryInner__T663Z"><div class="qa-combinedfeed-item-eyebrow News_meta__Gc4kJ h5">News</div><h3 class="qa-combinedfeed-item-title News_headline__JsnZr">Singapore sets new emissions reduction target for 2035</h3></div><hr class="News_hr__BZset"/><div class="qa-combinedfeed-item-date News_meta__Gc4kJ News_date___zoLz h5">11/02/25</div></div><div class="News_secondaryOuter__68Cw0 d-flex d-lg-none"><div class="qa-combinedfeed-item-eyebrow News_meta__Gc4kJ News_category__qm0Jk h5">News</div><div class="qa-combinedfeed-item-date News_meta__Gc4kJ News_date___zoLz h5">11/02/25</div><hr class="News_hr__BZset"/><h3 class="qa-combinedfeed-item-title News_headline__JsnZr">Singapore sets new emissions reduction target for 2035</h3><p class="qa-combinedfeed-item-summary News_summary__eRMnt">Singapore, 11 February (Argus) — Singapore submitted its new emissions reduction target on 10 February, aiming to reduce emissions to 45mn-50mn t of CO2 equivalent (CO2e) in 2035 as part of its nationally determined contribution (NDC). This is a progression from its first NDC which targeted a reduction in emissions to around 60mn t of CO2e in 2030. Singapore's emissions totalled 58.6mn t of CO2e in 2022, according to the country's National Climate Change Secretariat. The nation aims for net zero emissions by 2050. Countries party to the Paris agreement were supposed to submit their new climate plans — NDCs — for 2035 to the UN climate body the UNFCCC by 10 February, as part of the ratchet mechanism which requires them to review and revise plans every five years. But only a few countries have submitted their plans as of 11 February. Singapore's second NDC is an economy-wide absolute greenhouse gas (GHG) emissions reduction target, and the key sectors covered are energy, industrial processes and product use, agriculture, land use, land-use change and forestry and waste. The NDC was formulated based on the outcomes of the first global stocktake (GST) that took place at the UN Cop 28 climate summit in 2023. "Singapore is contributing to the first GST's call to triple global renewable energy capacity and double the global average annual rate of energy efficiency improvements by 2030," according to the NDC. The country is also supporting efforts to transition away from fossil fuels in energy systems and phase out inefficient fossil fuel subsidies. Singapore has increased the share of natural gas in its energy mix to 95pc, compared to around 18pc in 2000. The country's Energy Market Authority's latest emissions standards also require new fossil fuel generation units to be at least 30pc hydrogen-ready by volume, with the ability to be retrofitted to be 100pc hydrogen-ready in future. Singapore has raised its target for clean electricity imports from around 4GW to around 6GW by 2035. This is expected to meet one-third of the country's energy needs. The country is also looking into cross-border green electricity trading with its neighbours. Singapore is actively exploring the possibility of a cross-border carbon capture and storage project, as it is land-scarce and dependent on bilateral co-operation to sequester CO2. Singapore has additionally attempted to mobilise finance to support Asia's decarbonisation efforts through programmes such as the Financing Asia's Transition Partnership , a blended finance initiative under which the country has pledged up to $500mn in concessional capital to match concessional capital from other partners in the scheme dollar-for-dollar. By Prethika Nair Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.</p></div></a><a class="qa-combinedfeed-secondary-item News_link__TcfaC News_secondary__4Pe3A grey" href="/en/news-and-insights/latest-market-news/2656371-most-nations-miss-ndc-deadline-while-ambition-varies"><div class="News_secondaryOuter__68Cw0 d-none d-lg-flex"><div class="News_secondaryInner__T663Z"><div class="qa-combinedfeed-item-eyebrow News_meta__Gc4kJ h5">News</div><h3 class="qa-combinedfeed-item-title News_headline__JsnZr">Most nations miss NDC deadline, while ambition varies</h3></div><hr class="News_hr__BZset"/><div class="qa-combinedfeed-item-date News_meta__Gc4kJ News_date___zoLz h5">10/02/25</div></div><div class="News_secondaryOuter__68Cw0 d-flex d-lg-none"><div class="qa-combinedfeed-item-eyebrow News_meta__Gc4kJ News_category__qm0Jk h5">News</div><div class="qa-combinedfeed-item-date News_meta__Gc4kJ News_date___zoLz h5">10/02/25</div><hr class="News_hr__BZset"/><h3 class="qa-combinedfeed-item-title News_headline__JsnZr">Most nations miss NDC deadline, while ambition varies</h3><p class="qa-combinedfeed-item-summary News_summary__eRMnt">London, 10 February (Argus) — The majority of countries that are party to the Paris climate agreement have missed the deadline to submit new national climate plans, while research group Climate Action Tracker (CAT) found that several are not aligned with Paris accord goals. Just 12 countries had submitted new climate plans, known as nationally determined contributions (NDCs), by time of writing today — the UAE, Brazil, the US, Uruguay, Switzerland, the UK, New Zealand, Andorra, Saint Lucia, Ecuador, Singapore and the Marshall Islands. UN climate body the UNFCCC had set 10 February as the deadline for countries to submit their third NDCs, setting out climate action and targets up to 2035. CAT said that of the six NDCs it analysed, just the UK's was aligned with the Paris agreement. The UK plan is "about the only bright spot" among the countries it tracks, CAT noted. But it warned that the UK government "has inherited a vast implementation gap" and must take "urgent action" to introduce and strengthen policies to ensure emissions reduction targets are reached. The UK aims to cut emissions by 81pc by 2035, from a 1990 baseline. The country should support its goals with more international climate finance to be "a fully 1.5°C aligned contribution", CAT said. The Paris agreement seeks to limit the rise in global temperature to "well below" 2°C above pre-industrial levels, and preferably to 1.5°C. CAT noted "a significantly more ambitious" target for 2035 from the UAE , compared with its 2030 goal, but flagged the need for details on the country's planned emissions cuts. It noted a "lack of transparency" in Brazil's NDC and found that, despite an increase in ambition, New Zealand's 2035 NDC "falls short". Switzerland's new NDC "is diverging from a 1.5°C aligned pathway", CAT said. And it said that while the US is leaving the Paris agreement, the country"s NDC "can still be a guiding document for the roughly half of the US states who support continued climate action." But many climate policy observers have emphasised that higher ambition and comprehensive plans are far more important than timeliness. The EU, Canada, Mexico and Norway committed to new, Paris-consistent NDCs at the UN Cop 29 climate summit in November. Climate Action Tracker tracks around 40 countries and the EU, covering around 85pc of global emissions and 70pc of global population. The Paris agreement has a ratchet mechanism, which requires countries to review and revise climate plans every five years, increasing ambition. The UNFCCC deadline for NDC submissions is not enforceable. By Georgia Gratton Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.</p></div></a><a class="qa-combinedfeed-secondary-item News_link__TcfaC News_secondary__4Pe3A grey" href="/en/news-and-insights/latest-market-news/2656337-us-rescinds-un-climate-fund-pledges"><div class="News_secondaryOuter__68Cw0 d-none d-lg-flex"><div class="News_secondaryInner__T663Z"><div class="qa-combinedfeed-item-eyebrow News_meta__Gc4kJ h5">News</div><h3 class="qa-combinedfeed-item-title News_headline__JsnZr">US rescinds UN climate fund pledges</h3></div><hr class="News_hr__BZset"/><div class="qa-combinedfeed-item-date News_meta__Gc4kJ News_date___zoLz h5">10/02/25</div></div><div class="News_secondaryOuter__68Cw0 d-flex d-lg-none"><div class="qa-combinedfeed-item-eyebrow News_meta__Gc4kJ News_category__qm0Jk h5">News</div><div class="qa-combinedfeed-item-date News_meta__Gc4kJ News_date___zoLz h5">10/02/25</div><hr class="News_hr__BZset"/><h3 class="qa-combinedfeed-item-title News_headline__JsnZr">US rescinds UN climate fund pledges</h3><p class="qa-combinedfeed-item-summary News_summary__eRMnt">Washington, 10 February (Argus) — The US has canceled about $4bn in pledged money to the UN's Green Climate Fund, the latest sign a sharp policy shift under President Donald Trump. The State Department late last week said the US "has rescinded outstanding pledges to the Green Climate Fund," but did not provide any further details. The US under former presidents Joe Biden and Barack Obama had pledged about $6bn combined to the GCF, with the most recent commitment announced at the Cop 28 climate talks in Dubai. But the two administrations were able to deliver only $2bn of the funding. The cancellation of the GCF pledges is just the latest step by Trump to quickly reverse course for US climate and clean energy policies. Among his first acts after taking office last month Trump ordered the US to exit the Paris climate agreement and to pause spending on renewable energy projects. In addition, secretary of state Marco Rubio said the US would stop engaging in climate diplomacy. The GCF finances projects in developing and emerging countries with a focus on mitigation, adaptation and resilience efforts, such as climate-friendly agricultural methods, reforestation or coastal protection. It operates under the UN Framework Convention on Climate Change and was originally capitalized with $10.3bn in 2015. In two replenishment rounds since then, it has gathered more than $20bn in additional pledges. The fund has to date approved nearly $16bn for project in more than 130 countries and expects to approve another $3bn-worth this year. The fund said it "remains determined" to help developing countries achieve the highest level of ambition possible. "If pledges are not fully realized, our ability to support the climate ambitions of developing countries will be constrained," the GCF said. Finance for developing countries has been a major issue at UN climate talks. At last year's Cop 29 in Baku, Azerbaijan, countries agreed to a "new collective quantified goal" of "at least" $300bn/yr for developing countries by 2035, with developing countries "taking the lead." The goal is meant to build on the $100bn/yr that developed countries agreed to deliver over 2020-25. The finance will come from "a wide variety of sources, public and private, bilateral and multilateral, including alternative sources". By Michael Ball Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . 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The Canadian government announced the country's 2035 target in December . It aims to reduce greenhouse gas (GHG) emissions by 45-50pc by 2035, from 2005 levels. This builds on its target to cut emissions by 40-45pc by 2030, from the same baseline, although the country is currently \"on track\" to reduce emissions by 34pc by 2030, from 2005 levels, the government said. Many of the plans outlined today are in line with the first global stocktake — the key outcome from Cop 28 in December 2023 . These include phasing out unabated coal-fired power, increasing renewable energy capacity, improving energy efficiency and cutting methane — a powerful GHG. The government plans to reduce methane emissions from Canada's oil and gas sector by 75pc by 2030, from 2012 levels. It will also \"explore the transfer and use of ITMOs\", which are internationally transferred mitigation outcomes, or emission credits. And the country will \"explore the potential\" for carbon removal technologies, although the plan warned on \"potential risks that must be carefully managed\". The document included detailed plans from several of Canada's provinces and territories, as well as the Assembly of First Nations. But the province of Saskatchewan — for which agriculture, oil and gas production and mining are key — pushed back on federal climate policies. Canada's government based its plans on the \"best available science\" and included recommendations from the independent Net-Zero Advisory Body. Insured losses from severe weather in Canada hit a record high of C$8.5bn ($6bn) in 2024, the government noted. And estimates suggest that \"economic losses will rise to roughly 6pc of Canada's GDP by the end of the century\", it added. Canada will need investments of between C$125bn and C$140bn annually to reach its legally binding goal of net zero emissions by 2050, according to the plan. The transition \"will require substantial public and private sector investment and expertise\", the government said. The plan released today is known as a nationally determined contribution (NDC). Countries and jurisdictions party to the Paris climate agreement are required to submit new plans every five years, ideally increasing in ambition. Canada committed at Cop 29 in November to an NDC aligned with Paris agreement temperature goals . The Paris accord seeks to limit the rise in global temperature to \"well below\" 2°C above pre-industrial levels, and preferably to 1.5°C. By Georgia Gratton Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.","links":[{"rel":"article","href":"https://api.argusmedia.com/articles/2657270"}],"tags":null,"taxonomy":null,"id":2657270,"language":"en-GB","body":null},{"type":"News","datePublished":"2025-02-11T20:34:13Z","headline":"Brazil plans Amazon forest concession sale","summary":"Sao Paulo, 11 February (Argus) — Brazil's environment ministry will auction concessions in the Jaturana national forest, in northern Amazonas state, as part of government efforts to prevent deforestation. The government will sell four forest management concession areas with a combined 453,000 hectares (ha) in the Apui municipality. The concessions will require roughly R430mn ($7.4mn) in infrastructure investments and R3.4bn in operating investments over the 37-year concession period. The auction is scheduled for 21 May and will be held at the B3 exchange, in Sao Paulo state, to guarantee transparency and boost competition, the ministry said. The government plans to hold a roadshow to promote the concessions. The government estimates that the auction will generate concession payments of R32.6mn/yr, which will be split between federal environmental protection agencies, Amazonas state and the Apui city government. The winning bidders will be allowed to harvest up to six trees/ha for lumber from the concession area, according to the auction's terms elaborated by the Bndes development bank. Other select activities, including the production of açai fruit, Brazil nuts and tropical tree oils, such as copaiba and andiroba, will also be permitted. The concession terms stipulate that the winning bidder will not have control over the mineral or water rights of the region and will be required to invest in research and environmental education. With the sale of the Jaturana concessions, Brazil will increase the total amount of forest managed by the private sector — now at 1.31mn ha — by 35pc. Brazil has 23 concession contracts for nine national forests in five Brazilian states. The goal is to award a total of 5mn in forest concessions over the next three years. The Brazilian forestry service (SFB) is developing concessions for 11 other national forests, the head of the SFB Garo Batmanian said on Monday. Limiting deforestation is one of President Luiz Inacio da Silva's goals for his administration and a flagship of the country's ambitions for the UN Cop 30 summit, which will be held in Belem, the capital of northern Para state, in November. Brazil has been targeting reforestation as part of its efforts to meet its emissions-reduction target. But wildfires in the country are still a major concern, as they rose by 79pc in 2024 from a year prior , according to environmental network MapBiomas' fire monitor researching program. Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.","links":[{"rel":"article","href":"https://api.argusmedia.com/articles/2656873"}],"tags":null,"taxonomy":null,"id":2656873,"language":"en-GB","body":null},{"type":"News","datePublished":"2025-02-11T10:01:55Z","headline":"Singapore sets new emissions reduction target for 2035","summary":"Singapore, 11 February (Argus) — Singapore submitted its new emissions reduction target on 10 February, aiming to reduce emissions to 45mn-50mn t of CO2 equivalent (CO2e) in 2035 as part of its nationally determined contribution (NDC). This is a progression from its first NDC which targeted a reduction in emissions to around 60mn t of CO2e in 2030. Singapore's emissions totalled 58.6mn t of CO2e in 2022, according to the country's National Climate Change Secretariat. The nation aims for net zero emissions by 2050. Countries party to the Paris agreement were supposed to submit their new climate plans — NDCs — for 2035 to the UN climate body the UNFCCC by 10 February, as part of the ratchet mechanism which requires them to review and revise plans every five years. But only a few countries have submitted their plans as of 11 February. Singapore's second NDC is an economy-wide absolute greenhouse gas (GHG) emissions reduction target, and the key sectors covered are energy, industrial processes and product use, agriculture, land use, land-use change and forestry and waste. The NDC was formulated based on the outcomes of the first global stocktake (GST) that took place at the UN Cop 28 climate summit in 2023. \"Singapore is contributing to the first GST's call to triple global renewable energy capacity and double the global average annual rate of energy efficiency improvements by 2030,\" according to the NDC. The country is also supporting efforts to transition away from fossil fuels in energy systems and phase out inefficient fossil fuel subsidies. Singapore has increased the share of natural gas in its energy mix to 95pc, compared to around 18pc in 2000. The country's Energy Market Authority's latest emissions standards also require new fossil fuel generation units to be at least 30pc hydrogen-ready by volume, with the ability to be retrofitted to be 100pc hydrogen-ready in future. Singapore has raised its target for clean electricity imports from around 4GW to around 6GW by 2035. This is expected to meet one-third of the country's energy needs. The country is also looking into cross-border green electricity trading with its neighbours. Singapore is actively exploring the possibility of a cross-border carbon capture and storage project, as it is land-scarce and dependent on bilateral co-operation to sequester CO2. Singapore has additionally attempted to mobilise finance to support Asia's decarbonisation efforts through programmes such as the Financing Asia's Transition Partnership , a blended finance initiative under which the country has pledged up to $500mn in concessional capital to match concessional capital from other partners in the scheme dollar-for-dollar. By Prethika Nair Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.","links":[{"rel":"article","href":"https://api.argusmedia.com/articles/2656596"}],"tags":null,"taxonomy":null,"id":2656596,"language":"en-GB","body":null},{"type":"News","datePublished":"2025-02-10T17:20:17Z","headline":"Most nations miss NDC deadline, while ambition varies","summary":"London, 10 February (Argus) — The majority of countries that are party to the Paris climate agreement have missed the deadline to submit new national climate plans, while research group Climate Action Tracker (CAT) found that several are not aligned with Paris accord goals. Just 12 countries had submitted new climate plans, known as nationally determined contributions (NDCs), by time of writing today — the UAE, Brazil, the US, Uruguay, Switzerland, the UK, New Zealand, Andorra, Saint Lucia, Ecuador, Singapore and the Marshall Islands. UN climate body the UNFCCC had set 10 February as the deadline for countries to submit their third NDCs, setting out climate action and targets up to 2035. CAT said that of the six NDCs it analysed, just the UK's was aligned with the Paris agreement. The UK plan is \"about the only bright spot\" among the countries it tracks, CAT noted. But it warned that the UK government \"has inherited a vast implementation gap\" and must take \"urgent action\" to introduce and strengthen policies to ensure emissions reduction targets are reached. The UK aims to cut emissions by 81pc by 2035, from a 1990 baseline. The country should support its goals with more international climate finance to be \"a fully 1.5°C aligned contribution\", CAT said. The Paris agreement seeks to limit the rise in global temperature to \"well below\" 2°C above pre-industrial levels, and preferably to 1.5°C. CAT noted \"a significantly more ambitious\" target for 2035 from the UAE , compared with its 2030 goal, but flagged the need for details on the country's planned emissions cuts. It noted a \"lack of transparency\" in Brazil's NDC and found that, despite an increase in ambition, New Zealand's 2035 NDC \"falls short\". Switzerland's new NDC \"is diverging from a 1.5°C aligned pathway\", CAT said. And it said that while the US is leaving the Paris agreement, the country\"s NDC \"can still be a guiding document for the roughly half of the US states who support continued climate action.\" But many climate policy observers have emphasised that higher ambition and comprehensive plans are far more important than timeliness. The EU, Canada, Mexico and Norway committed to new, Paris-consistent NDCs at the UN Cop 29 climate summit in November. Climate Action Tracker tracks around 40 countries and the EU, covering around 85pc of global emissions and 70pc of global population. The Paris agreement has a ratchet mechanism, which requires countries to review and revise climate plans every five years, increasing ambition. The UNFCCC deadline for NDC submissions is not enforceable. By Georgia Gratton Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.","links":[{"rel":"article","href":"https://api.argusmedia.com/articles/2656371"}],"tags":null,"taxonomy":null,"id":2656371,"language":"en-GB","body":null},{"type":"News","datePublished":"2025-02-10T16:23:31Z","headline":"US rescinds UN climate fund pledges","summary":"Washington, 10 February (Argus) — The US has canceled about $4bn in pledged money to the UN's Green Climate Fund, the latest sign a sharp policy shift under President Donald Trump. The State Department late last week said the US \"has rescinded outstanding pledges to the Green Climate Fund,\" but did not provide any further details. The US under former presidents Joe Biden and Barack Obama had pledged about $6bn combined to the GCF, with the most recent commitment announced at the Cop 28 climate talks in Dubai. But the two administrations were able to deliver only $2bn of the funding. The cancellation of the GCF pledges is just the latest step by Trump to quickly reverse course for US climate and clean energy policies. Among his first acts after taking office last month Trump ordered the US to exit the Paris climate agreement and to pause spending on renewable energy projects. In addition, secretary of state Marco Rubio said the US would stop engaging in climate diplomacy. The GCF finances projects in developing and emerging countries with a focus on mitigation, adaptation and resilience efforts, such as climate-friendly agricultural methods, reforestation or coastal protection. It operates under the UN Framework Convention on Climate Change and was originally capitalized with $10.3bn in 2015. In two replenishment rounds since then, it has gathered more than $20bn in additional pledges. The fund has to date approved nearly $16bn for project in more than 130 countries and expects to approve another $3bn-worth this year. The fund said it \"remains determined\" to help developing countries achieve the highest level of ambition possible. \"If pledges are not fully realized, our ability to support the climate ambitions of developing countries will be constrained,\" the GCF said. Finance for developing countries has been a major issue at UN climate talks. At last year's Cop 29 in Baku, Azerbaijan, countries agreed to a \"new collective quantified goal\" of \"at least\" $300bn/yr for developing countries by 2035, with developing countries \"taking the lead.\" The goal is meant to build on the $100bn/yr that developed countries agreed to deliver over 2020-25. The finance will come from \"a wide variety of sources, public and private, bilateral and multilateral, including alternative sources\". By Michael Ball Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.","links":[{"rel":"article","href":"https://api.argusmedia.com/articles/2656337"}],"tags":null,"taxonomy":null,"id":2656337,"language":"en-GB","body":null}],"itemsCursor":null}},"e48dbb0e-5795-482e-8791-a613da83b5c2":{"language":"en","title":"Cop: Decision on 2026 host unlikely in Baku | Latest Market News","headline":"Cop: Decision on 2026 host unlikely in Baku","dateModified":"2024-11-22T14:53:47Z","datePublished":"2024-11-22T14:53:17Z","body":"\u003cp class=\"lead\"\u003eA decision on which country will host the UN Cop 31 climate talks in 2026 may not come until next year, as Australia and Turkey vie to be the next host.\u003c/p\u003e\u003cp\u003e\u003ca href=\"https://unfccc.int/documents/642776\" target=\"_blank\"\u003eDraft decision text\u003c/a\u003e released on Friday at Cop 29 in Baku, Azerbaijan, would punt the decision and call on western European and other States to accelerate their consultations\" and be prepared to present an offer to host in June 2025.\u003c/p\u003e\u003cp\u003eAustralia \u003ca href=\"https://direct.argusmedia.com/newsandanalysis/article/2388234\"\u003eformally bid in 2022\u003c/a\u003e to host Cop 31 and had little competition other than Turkey, which has refused to back down. Pushing the decision to next year would shorten the amount of time the eventual host has to prepare. But Azerbaijan won its hosting duties [only last year] at Cop 28 in Dubai. Brazil, the host of Cop 30, had its bid accepted \u003ca href=\"https://direct.argusmedia.com/newsandanalysis/article/2454846\"\u003ein May 2023\u003c/a\u003e.\u003c/p\u003e\u003cp\u003eUnder the UN Framework Convention on Climate Change (UNFCCC), Turkey is part of a grouping of western European countries, while Australia is in a group of \"other states\" that also includes Canada, Iceland, New Zealand, Norway, Switzerland and the US.\u003c/p\u003e\u003cp\u003eThe Australian delegation in Baku did not immediately respond to a request for comment.\u003c/p\u003e\u003cp\u003eThe draft text said that Cop 32 will be held in an African country from 8-19 November 2027.\u003c/p\u003e\u003cp class=\"bylines\"\u003eBy Michael Ball\u003c/p\u003e","lead":"A decision on which country will host the UN Cop 31 climate talks in 2026 may not come until next year, as Australia and Turkey vie to be the next host.","sectors":[{"name":"Emissions","children":[{"name":"CO2","children":[]}]}],"keywords":null,"taxonomyTags":[{"CategoryId":"9d5f3f3b-3675-45e3-a46b-977894344a42","Id":"27a3ed64-6e98-4dfd-8632-2b80cb0a968d","IsPrimary":true,"Title":"Gas \u0026 Power","ItemName":"Gas and Power"},{"CategoryId":"9d5f3f3b-3675-45e3-a46b-977894344a42","Id":"71f171af-9325-4f06-a038-067b1f64da5b","IsPrimary":true,"Title":"Net Zero","ItemName":"Net Zero"},{"CategoryId":"9d5f3f3b-3675-45e3-a46b-977894344a42","Id":"9ed49c78-9b72-442e-a6af-c9363cd13d30","IsPrimary":false,"Title":"Carbon Markets","ItemName":"Carbon Markets"}]}}},"__N_SSG":true},"page":"/[[...path]]","query":{"path":["news-and-insights","latest-market-news","2631636-cop-decision-on-2026-host-unlikely-in-baku"]},"buildId":"65294","assetPrefix":"https://www.argusmedia.com","isFallback":false,"isExperimentalCompile":false,"gsp":true,"locale":"en","locales":["default","en","es","zh","ru","pt","ja","fr","de"],"defaultLocale":"default","scriptLoader":[]}</script></body></html>