The United States has played a significant role in the Paris Agreement, including working with China to lay the groundwork for global climate deals. However, under President Trump, the US withdrew from the agreement and instead warned the EU that it must buy more U.S. oil and gas or face tariffs. Despite this, the European Commission is seeking to "constructively engage" with the new administration on issues including climate change. The EU is set to miss a deadline for submitting its national climate plan to the UN, but plans to have an updated plan ready by November's UN climate summit in Belem, Brazil.
https://en.tempo.co/read/1961549/eu-warns-of-serious-blow-from-u-s-trump-on-climate-changeThe current energy crisis in Moldova has been exacerbated by Russia's decision to cut off gas supplies to Transnistria, a breakaway region of Moldova. This move is seen as an attempt by Moscow to strong-arm the pro-Western government in Chisinau and sway public opinion ahead of parliamentary elections this year. The crisis has led to rolling blackouts in Transnistria, with almost all industries shut down due to lack of gas supply. The Moldovan government has offered subsidies to help offset the costs for citizens, but energy prices are already rising rapidly. The situation is further complicated by Ukraine's limited ability to provide assistance, as its own energy infrastructure has been severely damaged by Russian attacks since 2022. Transnistria's residents have expressed support for reintegration with Moldova in a recent poll, but efforts to reintegrate the region are made more complex by various factors, including the presence of Russian troops and linguistic, economic, and political realities. To address the energy crisis, Moldova needs to increase connections and electricity transport from Romania, which will help ease the current crisis. However, this will not provide enough electricity to support all of Moldova if the plant in Transnistria goes offline. Later this year, the Vulcanesti-Chisinau power line is expected to be online, providing enough electricity via Romania to support all of Moldova, excluding the Transnistrian region. In addition to increasing energy connections, there is a need for impartial oversight across the energy sector to ensure that industries are free from corruption and real or perceived corruption. Furthermore, Moldova must commit to an aggressive timeline to unbundle the gas sector, including removing Russia's state-owned Gazprom from a controlling interest in Moldova's gas company Moldovagaz. The plan should be publicly disclosed, including costs and timelines for implementation, to ensure that energy is secure. This will not only help Moldovans plan for their costs and supply but also counter disinformation around energy supplies. The plan would also help Moldova's many partners and allies, including the United States and the European Union, understand a timeline for aid in this sector.
https://www.csis.org/analysis/energy-crisis-provides-opportunity-moldovaThe European Union has warned that a decision by US President Donald Trump to withdraw from the Paris Agreement on climate change could have a "serious blow" on global efforts to combat the issue. This warning comes as several major financial institutions, including Citigroup and Bank of America, have exited a global climate-banking alliance. In contrast, Sembcorp has made its debut on the Dow Jones Sustainability Asia Pacific Index, highlighting the growing importance of sustainability in business practices.
https://www.businesstimes.com.sg/esg/eu-warns-serious-blow-trump-climate-changeFinance Minister Mohammad Aurangzeb revealed that Pakistan had committed to cutting off gas supply to captive power plants under a 2021 agreement with the International Monetary Fund (IMF), but it was not implemented by the previous government. The IMF deal would be implemented in its true letter and spirit, and the targets of the Uraan Pakistan programme would be met without compromising on macroeconomic fundamentals. This statement sparked a heated debate between PTI senators Shibli Faraz and Aurangzeb, with Senator Faraz questioning why those who ruled for over 40 years should not also be held accountable. The Senate panel also discussed the issue of the interim CEO of EXIM Bank and the export refinance scheme, which would be phased out under the IMF programme.
https://www.thenews.com.pk/print/1269501-pakistan-committed-to-imf-gas-supply-to-cpps-would-be-cut-off-ministerTürkiye has reached an agreement with the United States to lift sanctions on its use of Gazprombank, allowing it to continue paying for natural gas imports from Russia. This concession is similar to one previously granted to Hungary, enabling Türkiye to find a workaround to circumvent US sanctions.
https://www.ukrinform.net/rubric-economy/3944236-turkiye-could-supply-gas-to-eu-instead-of-russia-media.htmlThe European Union has unveiled a master plan, overseen by EU Commissioners Teresa Ribera and Stéphane Séjourné, which includes an Industrial Decarbonization Accelerator Act to reduce carbon emissions in polluting sectors. This initiative will be led by Climate Commissioner Wopke Hoekstra, who is also working on reforming the Energy Taxation Directive to set tax rates for various energy forms. The plan's implementation will be part of a larger budget proposal that will spark intense negotiations between EU member states until 2027.
https://www.politico.eu/article/policy-brussels-belgium-deportation-human-rights-european-commission/