Egypt summit decides to set up a fund for climate catastrophes, no other progress
After resisting it for years, the developed world finally caved in on the issue of loss and damage at the UN climate summit in Egypt, agreeing to the longstanding demand by vulnerable countries to establish a fund to pay for climate disasters that have been brought on by global warming.
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In November 2024, 23 oil and gas exploration licences were awarded across five countries, with Russia granting the licences that account for the largest portion of embodied emissions.
November 2024 | Carbon Minefields Oil and Gas Exploration Monitor
In October 2024, 20 oil and gas exploration licences were awarded across three countries, with a significant portion granted by Brazil.
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If fully exploited, oil and gas reserves set to be licensed for exploration in the next 6 months would emit 15 billion tonnes of CO2 equivalent.