Anna Stacey

Norway’s $2 trillion sovereign wealth fund reaffirmed its push for all 8,500 portfolio companies to reach net-zero emissions by 2050, despite rising U.S. backlash against climate policies. Meanwhile, while artificial intelligence is drawing criticism for its heavy energy and water use, scientists are harnessing it to cut emissions and boost efficiency.

The US is spearheading opposition to a proposed UN-backed global climate tax on shipping emissions, warning that it could raise shipping costs by 10% and unfairly benefit China. Meanwhile, a record leap in global CO₂ levels has raised fears that natural carbon sinks are weakening.

Nestlé has exited the Dairy Methane Action Alliance, a global initiative aimed at cutting methane emissions from dairy farming. Meanwhile, researchers have been scrutinising ultra-processed foods for their significant but largely hidden environmental impact.

The Conservatives pledged to replace the UK’s Climate Change Act with a new plan for “cheap and reliable” energy. Meanwhile, UK energy billpayers have spent a record £1 billion this year to switch off wind turbines due to grid capacity failures.

At the UN General Assembly, President Trump dismissed climate change as “the greatest con job”. Elsewhere, as Belém prepares to host COP30, the city faces a housing crisis fuelled by a surge in short-term rentals targeting summit attendees, displacing local residents.

The EU is expected to miss a key UN deadline to submit updated climate targets. Meanwhile, in Australia, the Albanese government has set a 2035 emissions reduction target of 62% to 70% below 2005 levels, calling it the “maximum achievable ambition.”

A new forecast has warned that Donald Trump’s pro-fossil fuel policies could cut the pace of US emissions reductions by more than half. Also in the US, two former Meta researchers have testified to a Senate panel that Meta prioritised profits from its VR platform over child safety.

For the first time in six years, no environmental proposals were passed in the 2025 US proxy season, reflecting waning investor support. Elsewhere, in Australia, it has been revealed that the Darwin LNG plant leaked methane for nearly 20 years, emitting up to 184kg an hour.

The EU’s goal of cutting vehicle CO2 emissions to zero by 2035 is no longer achievable, industry leaders warned. Meanwhile, the Net-Zero Banking Alliance has paused activities after an exodus of members including HSBC, Barclays, and UBS.

The European Central Bank faces calls to toughen climate-risk penalties. Meanwhile, UN negotiations to finalise the world’s first legally binding treaty on plastic pollution collapsed after three years of talks.