South America








Fossil Fuels

Environment

Environment

Russian air strikes shake delicate G20 agreement ahead of top

A Russian air strike on Ukraine on Sunday shook a delicate agreement amongst the Group of 20 major economies drafting their joint declaration at an yearly leaders top in Rio de Janeiro, three diplomats knowledgeable about the talks told Reuters. European diplomats are now pushing to revisit previously agreed language on the subject of international disputes after Russia released its largest air campaign on Ukraine in practically three months. The United States reacted by raising previous limits on Ukraine's use of U.S.-made weapons to strike deep into Russia. The intensifying dispute could disturb a hard-fought consensus that G20 mediators reached...

Environment

World aims to G20 in Rio for breakthrough in environment talks

Diplomatic tensions over global warming will take center stage at the G20 summit in Brazil this week, as arbitrators at U.N. talks in Azerbaijan struck a deadlock on environment finance that they hope leaders of the world's 20 major economies can break. Heads of state getting here in Rio de Janeiro on Sunday for the G20 summit will invest Monday and Tuesday attending to problems from poverty and hunger to the reform of global organizations. Still, the ongoing U.N. climate talks have actually tossed a spotlight on their efforts to tackle worldwide warming. While the COP29 summit in Baku, Azerbaijan,...

Carbon Emissions

World looks to G20 in Rio for advancement in climate talks

Diplomatic tensions over global warming will take spotlight at the G20 summit in Brazil this week, as arbitrators at U.N. talks in Azerbaijan hit a deadlock on environment financing that they hope leaders of the world's 20 major economies can break. Heads of state showing up in Rio de Janeiro on Sunday for the G20 top will invest Monday and Tuesday resolving concerns from poverty and appetite to the reform of global institutions. Still, the ongoing U.N. climate talks have tossed a spotlight on their efforts to take on global warming. While the COP29 summit in Baku, Azerbaijan, is charged...

Environment

BHP awaits ruling after reports that system cleared of criminal charges in 2015 dam catastrophe

BHP Group said it was waiting to formally receive the court judgment on the 2015 Fundão tailings dam collapse in Brazil after media reports stated a lower court has ruled that its unit and other firms are not criminally liable for the catastrophe. The court found there was insufficient evidence to develop a. causal connection between the companies and the dam failure, the. international mining giant said, pointing out media reports. A dam collapse at an iron ore mine owned by Samarco, a joint. endeavor in between Vale SA and BHP, near Mariana in. southeastern Brazil, resulted in 19 deaths,...

Environment

Brazil state bank Banco do Brasil likely to raise green lending targets

Brazilian staterun bank Banco do Brasil is likely to increase its existing target of 500 billion reais ($ 86.56 billion) in green loans aimed at funding sustainable advancement by 2030, executives informed Reuters on Thursday. Developing nations are increasingly seeking to the monetary sector to fill a gap of trillions of dollars required to pay for actions to curb environment change and preserve nature, as federal governments in rich nations signaled at this month's U.N. nature and climate talks that they are reluctant to pay more. We need to reach this target earlier than anticipated and increase it, stated Jose...

Energy Markets

Bolivia to sell $5 billion in carbon credits to stem rampant forest loss

Bolivia aims to sell $5. billion worth of carbon offset credits, the government revealed. on Thursday, in a quote to shore up its economy and finance. efforts to stop rampant forest loss. Countries or companies can buy carbon credits to balance out. their own greenhouse gas emissions by funding projects that. decrease climate-warming emissions elsewhere. The intent is to save, plant and reforest. And it's. a way to generate worth in this country, Bolivian Economy. Minister Marcelo Montenegro said in an interview. Bolivia's economy has actually been struggling, with its foreign. reserves almost diminished and many people not able to...

Carbon Emissions

Brazil's Tocantins state to offer $430 million in carbon credits

A Brazilian state that straddles the frontier of the Amazon jungle is pursuing the sale of more than 2.5 billion reais ($ 430.16 million) in carbon credits associated with forest conservation through 2030, the state government stated on Thursday. Business generally buy such credits to balance out a part of their greenhouse gas emissions in pursuit of voluntary goals to curb international warming, essentially spending for projects that cut climate pollution. Tocantins specify objectives to sell some 50 million carbon credits, each totaling up to one metric ton of carbon sequestered by forests and other native vegetation across the state...

Oil & Gas

Equinor to report Greenpeace to cops after protest at CEO's home

Norwegian oil significant Equinor will report Greenpeace to cops after the ecological group opposed at the home of its CEO Anders Opedal by dumping debris from current floods in Brazil in his garden on Wednesday. The demonstration tactic is new in Norway, where protesters traditionally avoid targeting the homes of individuals. The protesters placed a refrigerator, a crib and some battered kids's toys in the executive's garden in Sandnes, western Norway, Greenpeace said in a statement. Pictures from regional media likewise revealed couches, chairs, sandals, a cupboard and a biking helmet at the home. Protesters brought banners with slogans such...

Climate Change

Trump 2.0 looms as world leaders head to South America for tops

World leaders are heading to South America for twin tops this month, with one major theme dominating: Donald Trump 2.0. Peru is the very first stop, for the Asia-Pacific Economic Cooperation (APEC) online forum on Nov. 13-15, followed by a Group of 20 (G20) prominent economies meeting in Brazil on Nov. 18-19. A. busy month of worldwide summits has likewise seen the COP29 climate. change conference in Azerbaijan. For leaders from the Asia-Pacific region, APEC on Thursday. will be the first time they have collected considering that the Nov. 5 U.S. presidential election, which ended in triumph for Republican. Trump,...

Refined Products

COP29 host Azerbaijan hits out at West in defence of oil and gas

United Nations SecretaryGeneral Antonio Guterres told world leaders at the COP29 summit on Tuesday to pay up to prevent climateled humanitarian catastrophes, and stated time was running out to limit a. harmful increase in worldwide temperature levels. Nearly 200 countries have actually collected at the yearly U.N. environment. summit in Baku, focused this year on raising hundreds of. billions of dollars to money an international transition to cleaner. energy sources and limit the climate damage brought on by carbon. emissions. However on the day of the summit created to unite. world leaders and produce political momentum for the marathon. negotiations,...

Environment

Brazil reveals brand-new climate modification promise ahead of COP29 top

Brazil announced details of its brand-new climate modification pledge late on Friday night that sets a target to decrease the country's greenhouse gas emissions by 2035, which it will present during the United Countries climate top COP29 in Azerbaijan, according to a. government declaration. WHY IT is necessary Brazil is the largest country in Latin American and one of. the world's most significant emitters of climate-warming co2. The U.N. has actually stated nations must do more if the world is to. keep within reach of the Paris Contract target to restrict international. temperature increases to 1.5 degrees Celsius (2.7 Fahrenheit),...

Climate Change

Biden's Amazon check out comes as United States climate policy to move under Trump

Joe Biden will become the first sitting U.S. president to go to the Brazilian Amazon when he takes a trip to Manaus later on this month, a symbolic journey given the United States is likely to see a remarkable modification in climate policy under Presidentelect Donald Trump. The White House confirmed late on Thursday that Biden had consisted of a see to Manaus, a city of 2 million people in the heart of the world's largest rainforest, to his South American tour of Brazil and Peru in between Nov. 14 and 19. Reuters had actually initially reported last month that...

Mining

Mining

Peru's economy grows for sixth straight month in September

Peru's economy expanded on an annual basis for the 6th straight month in September, figures from the national statistics institute revealed on Friday, after almost every sector of the economy logged development. The economy broadened 3.16% year-on-year in the month, slightly above the estimate of 3.10% growth from experts polled . Peru's economy has revealed stable healing from an economic crisis it entered into in 2015. The economy is forecast to grow 3.0% in 2025, according to a study of financial experts by the central bank at the end of October. Economic output in the world's no. 3 copper manufacturer...

Mining

Copper strikes three-month low to draw in consumers purchasing

Copper prices continued to succumb to their 5th successive session on Thursday to their threemonth low on arbitrage trading between London and Shanghai, bring in consumers to purchase the dip. Three-month copper on the London Metal Exchange (LME). dipped to $8,867 per metric load, its least expensive given that Aug. 12. It last traded 1.9% lower at $8,874 by 1133 GMT. It came under pressure with more traders making the most of. price gaps in between the LME and its Chinese peer, the Shanghai. Futures Exchange (ShFE). Rather some short-LME-buy-ShFE activity was seen these couple of. days to lower the...

Mining

Gold Fields might sell smaller mines after Osisko acquisition

Gold Fields might search for buyers for its smaller mines in Ghana and Peru to focus on bigger operations and is hoping to make new mineral discoveries at both mines to boost their appeal, CEO Mike Fraser stated on Thursday. Gold Fields shares were down 4% at 0842 GMT. The Johannesburg-based gold miner is shifting focus to advancing its new Salares Norte mine in Chile also projects belonging to Osisko Mining, which it recently bought for about $ 1.6 billion. Gold Fields could possibly sell its Damang mine in Ghana where it is only processing stockpiled ore after stopping mining...

Mineral Resources

Pollution

Pollution

Biden gos to Amazon jungle en route to G20 summit in Rio

Joe Biden became the initially sitting U.S. president to visit the Amazon rainforest on Sunday, flagging the dangers of international warming often dismissed by Donald Trump, who gets in the White Home in January vowing to scrap procedures to eliminate environment change. Biden flew from Lima, Peru, to Manaus, the largest city in the Amazon, to meet with local leaders working to maintain the jungle, before continuing to Rio de Janeiro for a summit of the Group of 20 significant economies that will attend to problems from hardship to international governance and climate modification. Scientists state conservation of the Amazon...

Pollution

Geopolitics eclipse COP29 talks on environment cash, as Argentina leaves

Countries at the COP29 top attempted to make progress on how to raise approximately $1 trillion in environment finance for the world's most vulnerable, as political tensions overshadowed the talks and Argentina on Thursday pulled its delegation from Baku. The success of this year's U.N. environment summit hinges on whether countries can agree on a new finance target for richer countries, development loan providers and the economic sector to deliver each year. Developing countries require at least $1 trillion annually by the end of the years to manage climate modification, economic experts told the U.N. talks. Many countries have stated...

Energy Markets

What is the latest science on environment modification?

This year's U.N. climate top COP29 is being held throughout yet another recordbreaking year of greater international temperature levels, including pressure to negotiations focused on suppressing environment change. The last worldwide scientific agreement on environment modification was released in 2021 through the Intergovernmental Panel on Climate Modification, however scientists state that evidence reveals international warming and its impacts are unfolding faster than anticipated. Here is some of the latest environment research: 1.5 C BREACHED? The world may currently have hit 1.5 degree Celsius (2.7 F) of warming above the average pre-industrial temperature - a. critical limit beyond which it is...

Pollution

COP29: What is the latest science on climate change?

This year's U.N. environment top COP29 is being held during yet another recordbreaking year of higher worldwide temperatures, including pressure to settlements aimed at curbing climate modification. The last international clinical consensus on climate change was released in 2021 through the Intergovernmental Panel on Climate Change, however scientists state that proof shows worldwide warming and its impacts are unfolding faster than expected. Here is a few of the latest climate research: 1.5 C BREACHED? The world may currently have hit 1.5 degree Celsius (2.7 F) of warming above the typical pre-industrial temperature - a. critical threshold beyond which it is...

Climate Change

EU-Mercosur trade offer ought to reward conservation, says Stanford professor

With the EUMercosur complimentary trade offer delayed for many years by European environmental concerns, a Stanford teacher has proposed a way to conquer a. logging hurdle: make tariff reduction contingent on. preservation progress. After twenty years of talks, the European Union and the. South American bloc, that makes up Brazil, Argentina, Uruguay,. Paraguay and Bolivia, reached agreement in principle in 2019 on. an open market deal, but it was not signed due to concerns over. environmental safeguards. Brand-new European legislation on avoiding the entry of. products from deforested locations was viewed as protectionist by. Brazil and the EU agreed to...

Pollution

Brazil continues top-level talks on spending control steps

Brazil's government continued top-level discussions on Tuesday towards the statement of expected spending control steps seen as essential for sustaining fiscal rules, though it has actually not divulged when they will be revealed. Chief of Staff Rui Costa was set up to meet the ministers of social security and social development in the afternoon to advance talks on brand-new financial procedures, according to a declaration from Costa's office. Financing Minister Fernando Haddad previously stated the measures looked for to extend the life-span of a new fiscal structure signed by President Luiz Inacio Lula da Silva in 2015, which pairs main...

Pollution

Brazil prepares to get rid of prohibited Amazon gold miners from Munduruku land

Brazilian authorities are preparing to get rid of unlawful gold miners from a Native reservation in the Amazon jungle that has been crisscrossed with informal airstrips and polluted with mercury, an authorities said. The Munduruku territory covers nearly 24,000 square km ( 9,000 square miles), about the size of the U.S. state of New Hampshire, and is home to 61 villages of Munduruku, Apiacas and other Native groups in an area understood for violent land conflicts. The Munduruku reservation has the second-most illegal mining in Brazil, according to a report seen from government company Censipam, which manages operations protecting the...

Pollution

Public funding for nature preservation stalls at COP16, eyes on private financial investment

Wealthy countries appeared to strike a limit with how much they want to pay to conserve nature around the world, instead shifting their focus at the twoweek U.N. biodiversity summit toward discussions of personal money filling the financing space. At the COP16 negotiations in Cali, Colombia, nations failed to figure out how they would activate $200 billion yearly in conservation funding by 2030, consisting of $30 billion that would come straight from rich countries. That cash, pledged two years ago as part of the landmark Kunming-Montreal Global Biodiversity Framework agreement, is suggested to finance activities that improve nature, such as...

Pollution

UN COP16 nature summit creates permanent body for Indigenous individuals

Countries at the U.N. COP16 top on nature on Friday authorized a step to create a. permanent body for Indigenous peoples to consult on United. Nations choices about nature conservation. The consultative body is thought about an advancement in. recognizing the function that Indigenous individuals play in conserving. nature internationally, consisting of some of the most biodiverse areas of. the world, according to Indigenous and ecological supporters. Almost 200 nations convened in the Columbian city of Cali. aiming to carry out the 2022 Kunming-Montreal Global. Biodiversity Framework contract, which intends to stop the fast. decrease of nature by 2030. The...

Pollution

Ecuador's Native defenders face growing risks, activists state at UN top

Native ecological defenders in Ecuador are suffering an increasing variety of dangers and sometimes deadly attacks in the middle of spiraling violence in the nation, activists said on Friday at the U.N. COP16 nature talks in Colombia. Nearly 200 countries are collected in the city of Cali in an attempt to agree on an offer to implement the landmark 2022 Kunming-Montreal Biodiversity Framework agreement that aims to end damage of nature by 2030. Amongst the goals of that agreement was heightened defense for ecological defenders. But throughout the summit, slated to end late on Friday, Native activists from Ecuador said...

Pollution

BHP says claim it put safety over earnings 'unjustified' in Brazilian dam collapse case

BHP said on Wednesday that accusations a pursuit of profit over security added to Brazil's worst environmental catastrophe were unlikely and unjustified, as the miner opened its defence to a massive claim at London's High Court. More than 600,000 Brazilians, 46 local governments and around 2,000 services are suing BHP over the 2015 collapse of the Mariana dam in southeastern Brazil, which was owned and run by BHP and Vale's Samarco joint venture. The dam's collapse released a wave of harmful sludge that eliminated 19 individuals, left thousands homeless, flooded forests and polluted the length of the Doce River. The...

Climate Change

Countries need to report nature protection prepares to the UN. What does that suggest?

storyp1> BOGOTA, Oct 19 (Reuters) Almost 200 nations deal with a due date to report their nature conservation prepares to the United Nations ahead of a twoweek U.N. nature top dubbed COP16, beginning on Monday in the Colombian city of Cali. Here is what you require to understand: WHY ARE NATIONS MAKING NATURE PLEDGES? These pledges must set out how each nation plans to contribute to conference international nature targets agreed on at the last U.N. Biodiversity Summit, COP15, held in Montreal in 2022. The arrangement, called the Kunming-Montreal Global Biodiversity Structure, established four general objectives for 2050 and a...