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Thursday, 16 July 2026

78 briefs so farlast update 18:51 UTC

Key points

  • JP Morgan Warns of Fuel Shortages if US-Iran Fighting Resumes.
  • Hormuz Ship Insurance Demand Falls as Cover Costs Climb.
  • Qatar Delays LNG Ramp-Up After Strait of Hormuz Vessel Attacks.
  • BYD Wins 11.275 GWh Battery Contract for Masdar's Abu Dhabi Solar-Plus-Storage Plant.

Climate

Loss and Damage Fund Could Empty by 2027 as Climate Bill Nears USD 937 Billion

Donors have pledged USD 822 million to the Fund for responding to Loss and Damage (FRLD), yet only USD 448 million has actually landed in its accounts, according to Climate Home News. The outlet warns the FRLD could deplete its money in 2027.

That balance sits against a demand of a different order. In 2025, loss and damage finance needs across climate-vulnerable countries may have hit USD 937 billion, experts calculated in reporting by Climate Home News.

Hurricane Melissa left Jamaica with losses and damage estimated at USD 12.2 billion, according to Climate Home News. A run of destructive cyclones across the Philippines caused an estimated USD 5 billion or more in losses, the outlet reported.

Tropical Cyclone Freddy ranked among the worst on record in 2023, killing more than 1,200 people, displacing half a million, and inflicting damages above USD 500 million in Malawi, according to Climate Home News.

In Somalia, a severe drought emergency has left 1.9 million children acutely malnourished, the outlet reported.

Ethiopia carried a comparable weight in 2023, when five back-to-back failed rains affected 24 million people and wiped out 90% of crops in drought-hit areas, according to Climate Home News. Eleven million people needed food assistance and more than 500,000 were displaced, the same reporting stated.

Source: climatechangenews.com (opens in a new tab)1 sourcePermalink

Damaged homes and debris along a flooded tropical shoreline under a gray sky after a severe storm.
Photo: Pok Rie / Pexels (opens in a new tab)

Climate

Fugro Wins Saipem Survey Work on Northern Endurance CCS Project

Fugro won a contract from Saipem to run marine survey and inspection work for the Northern Endurance Partnership (NEP), a carbon capture transportation and storage infrastructure project, according to Offshore Engineer OEDigital.

Saipem is heading the engineering, procurement, construction and installation of the project's offshore pipeline and connected infrastructure, Offshore Engineer OEDigital reported.

NEP operates as an incorporated joint venture between bp, Equinor and TotalEnergies, the same report said.

The project can draw on up to 1 billion tonnes of CO2 storage capacity beneath the North Sea, according to Offshore Engineer OEDigital.

Source: oedigital.com (opens in a new tab)1 sourcePermalink

Climate

China Reports Deadly Guangxi Floods as Beijing Sets 2030 Carbon Targets

Severe floods in south-western China's Guangxi province killed 39 people and left nine missing after heavy rains, according to Carbon Brief. At least 11 people were killed by two tornadoes in central China's Hubei province linked to Typhoon Maysak, according to Reuters.

Carbon Brief reported the tornadoes as extremely rare events tied to the same storm system. During prolonged heatwaves in June, temperatures in Xinjiang reached 50C, according to National Business Daily.

The China Meteorological Administration's 2026 blue book on climate change found that China's annual average temperature increased by 0.31C per decade from 1961 to 2025.

On policy, China released an action plan for peaking its carbon emissions by 2030, according to state news agency Xinhua. The country's 15th five-year plan for building a Beautiful China set quantitative targets for 2030, including a 3% cut in carbon emissions per unit of production at industries covered by China's national carbon market.

The EU and China set an October deadline to reset trade ties as tensions over cleantech exports and other economic matters rise, according to Carbon Brief. The two sides established a trade and investment consultation mechanism with four workstreams, including trade and investment balancing and export controls.

Source: carbonbrief.org (opens in a new tab)1 sourcePermalink

Climate

US Drove Nearly Half of Global CO2 Emissions Growth in 2025, Energy Institute Data Shows

The United States accounted for nearly 50% of the world's CO2 emissions growth in 2025, a rise attributed to an AI data center explosion, according to CleanTechnica.

The finding draws on the Energy Institute's Statistical Review of World Energy, which CleanTechnica reported is the 75th edition of the report.

Robert Rapier of OilPrice.com highlighted the finding about the US from the Energy Institute report, according to CleanTechnica.

Source: cleantechnica.com (opens in a new tab)1 sourcePermalink

Climate

COP31 president-designate sets 35% electrification goal for 2035

Murat Kurum, the COP31 president-designate, set out a goal for electricity to supply 35% of the world's final energy by 2035, according to Carbon Brief.

Kurum told Carbon Brief that the "35 by 35" figure rests on analysis by the International Energy Agency (IEA) and the International Renewable Energy Agency (IRENA) of what would keep the 1.5C Paris Agreement target within reach.

Buildings, transport and industry are where the goal will be won or lost, Kurum said, describing them as sectors that together produce around 45% of global emissions.

He cited polling from the We Mean Business Coalition, in which 90% of businesses said they expect to have largely electrified operations by 2035, while 88% said electrification would make them more competitive.

Turkey aims to reach 120 GW of renewable capacity by 2035, Kurum said.

The European Commission will unveil a 2040 electrification target on July 17, Carbon Brief reported, citing Bloomberg, with a leaked draft aiming to halve oil use and cut gas use by two-thirds.

Source: carbonbrief.org (opens in a new tab)1 sourcePermalink