UN climate chief challenges Australia to curb emissions
Australia is due to release its latest national emission targets in September.
SYDNEY – The UN's climate chief on July 28 challenged Australia to take more ambitious climate action, saying the mining superpower faced a 'defining moment' as it prepared new emissions targets.
Australia is due to release its latest national emissions targets in September, setting out plans to decarbonise an economy built largely on mining and coal.
'The question is: how far are you willing to go,' UN climate chief Simon Stiell said in prepared remarks ahead of a speech in Sydney.
'This isn't just the next policy milestone. It's a defining moment.'
Australia has previously pledged to cut greenhouse gas emissions by 43 per cent before the end of the decade, and to reach net zero by 2050.
It is currently developing its next round of targets – or Nationally Determined Contributions – a key obligation under the landmark Paris climate agreement.
'This is the moment: to get behind a climate plan that doesn't just write that vision into policy, but delivers in spades for your people,' Mr Stiell said.
Top stories
Swipe. Select. Stay informed.
Singapore Not feasible for S'pore to avoid net‑zero; all options to cut energy emissions on table: Tan See Leng
Singapore With regional interest in nuclear energy rising, S'pore must build capabilities too: Tan See Leng
Singapore New Mandai North Crematorium, ash-scattering garden to open on Aug 15
Singapore Tanjong Katong Road sinkhole did not happen overnight: Experts
Singapore Sewage shaft failure linked to sinkhole; PUB calling safety time-out on similar works islandwide
Singapore Science Journals: Lessons from weird fish sold in Singapore's wet markets
World US and EU clinch deal with broad 15% tariffs on EU goods to avert trade war
Asia Displaced villagers at Thai-Cambodian border hope to go home as leaders set to meet for talks
'So don't settle for what's easy.
'Go for what will build lasting wealth and national security. Go for what will change the game – and stand the test of time.'
Australia has poured money into solar power, wind turbines and green manufacturing – pledging to make the nation a renewable energy superpower.
But Australia's green ambitions are at odds with its deep entanglement with lucrative fossil fuel industries.
It remains one of the world's biggest coal exporters and continues to heavily subsidise fossil fuel sectors.
Australia has attempted to burnish its green credentials by bidding to host the 2026 UN climate summit alongside Pacific island neighbours threatened by rising seas.
Mr Stiell said Australia was running out of time to make a difference.
'This can be Australia's moment,' he said.
'Consider the alternative: missing the opportunity and letting the world overheat.'
Australia Climate Change Authority chair Matt Kean said the country had a 'fighting chance to make a positive difference'.
'The stakes couldn't be higher – but we have solved major challenges in the past, and we can do so again if we remain clear-eyed and unflinching.' AFP
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Straits Times
10 minutes ago
- Straits Times
EU-US trade deal could add up to $19 billion in pharma industry costs, analysts say
The European Union's trade deal with the United States could cost the pharmaceutical industry between $13 billion and $19 billion as branded medicines become subject to a tariff of 15%, analysts said on Monday. The added costs could raise prices for consumers unless pharmaceutical companies take action to mitigate the impact of the tariffs, one of the analysts said. Pharmaceuticals had historically been exempt from duties. Medicines are the largest European exports to the United States by value and the EU accounts for about 60% of all pharmaceutical imports to the U.S. On Sunday, European officials said that a bilateral trade deal for an across-the-board 15% tariff included pharmaceuticals, except for some generic drugs, which would be subject to no tariffs. The U.S. has been conducting a national security investigation into the pharmaceutical sector and the industry has been bracing for separate sectoral tariffs. President Donald Trump said earlier this month, before negotiating the bilateral deal, that pharmaceutical tariffs could be as high as 200%. Some Wall Street analysts said that they do not expect additional tariffs on the EU as a result of the investigation, but others cautioned that the deal was not yet signed and that several questions remained unanswered. UBS analyst Matthew Weston said that he expects details of the trade deal to include protective measures for EU pharma exports from the U.S. investigation, especially since such measures are being discussed in negotiations with the United Kingdom and Switzerland. Top stories Swipe. Select. Stay informed. Asia Cambodia, Thailand agree to 'immediate and unconditional ceasefire' to de-escalate border row Singapore Tanjong Katong sinkhole: Road recovery works progressing steadily, tests under way Singapore ST Explains: What we know about the Tanjong Katong sinkhole so far Singapore Foreign workers who rescued woman from sinkhole given tokens of appreciation Sport Gan Ching Hwee breaks 2 national records, qualifies for World Aquatics C'ships 1,500m final Asia Gunman kills 5 near Bangkok's Chatuchak market before taking own life Business SIA Q1 profit falls 59%; airline group sees volatile times ahead Singapore Man exposed daughter's identity despite court order after she was removed from his care ING analyst Diederik Stadig also said that while tariffs on top of the 15% were not expected, even after the conclusion of the national security investigations, nothing is completely clear "until a trade deal is inked." Stadig estimates that these levies could add $13 billion to industry expenses without any mitigation strategies, and some of that could be ultimately borne by the consumer. Bernstein analyst Courtney Breen puts the additional expenses at $19 billion for the industry, but she notes that companies might be able to absorb some of the costs with the measures they have been implementing — such as stockpiling of drug products and new deals with contract researchers. Earlier this month, Sanofi said it will sell a manufacturing facility in New Jersey to Thermo Fisher, where the French drugmaker's therapies will continue to be manufactured. Roche's CEO Thomas Schinecker said last week that the company was increasing its U.S. inventories to avoid any immediate disruption from tariffs. UBS' Weston said that it was not immediately clear which generic drugs were exempted from duties under the deal, but any impact for generic drugmaker Sandoz for this year should mostly be manageable. Shares in pharmaceutical companies Sanofi, Roche and Sandoz Group all closed up between 0.5% and 1% on Monday. REUTERS
International Business Times
28 minutes ago
- International Business Times
Global Markets Surge as US-EU Trade Deal Eases Investor Anxiety
The global stock benchmarks opened the week with firm gains, driven by a return of investor risk appetite after progress on trade talks between the US and EU. Futures tracking the S&P 500 in the United States rose 0.45%, while those for the Nasdaq gained 0.5%, pointing to a robust start on Wall Street. European stock futures were also up by almost 1%, supported by the relief in trade tensions. The MSCI's broadest index of shares outside Japan rose 0.27% in Asia, remaining close to the four-year high it touched last week. Japan's Nikkei index declined 0.8%, pulling back after its recent rally to a one-year peak. The euro rose significantly against the U.S. dollar, British pound, and Japanese yen as the market welcomed the deal, reflecting market's positive response to the deal. US-EU Trade Agreement Brings Relief Markets rallied on news that the United States and the European Union had reached a framework trade deal. Under the deal, the administration agreed to apply a 15% tariff on most European goods entering the United States, well below the 30% rate it had previously threatened. The deal is regarded as a compromise with gains for both countries, and it diminishes the near-term risk of a full-blown trade war. freepik The U.S. had also recently reached a similar pact with Japan to reduce vehicle import tariffs. These back-to-back deals are part of a broader effort by the Trump administration to wrap up global trade before the August 1 deadline. Meantime, the U.S. and China have opened trade talks in Stockholm with hopes of extending their current ceasefire on tariffs. Clarity Brings Optimism to investors Market analysts say the recent agreement with Europe has added some clarity to businesses and investors struggling through months of uncertainty. "This deal defuses a significant risk and is part of a broader move back toward stability and predictability in trade policy," said Marc Velan, head of investments at Lucerne Asset Management. European leaders had previously hoped for a zero-tariff agreement, but the new 15% rate is considered a positive result compared to the 30% that was on the horizon. Investors are also viewing the trade news as a sign that the U.S. is choosing diplomacy over belligerent trade moves. China's CSI 300 index in Asian markets added 0.3%, led by gains in financials and in the consumer sector. Hong Kong's Hang Seng index rose 0.75%, and the Australian dollar, which is often used as a liquid proxy for global risk, was near an eight-month peak at $0.657. Focus Shifts to Fed and BOJ With the trade tensions easing, investors are turning their attention to two key central bank meetings scheduled this week, one from the U.S. Federal Reserve and another from the Bank of Japan. Both central banks are anticipated to keep interest rates on hold, but traders will be listening closely for any indications as to what comes next, particularly given shifting inflation data. The White House is keeping up the pressure on the Federal Reserve. President Trump has regularly lambasted Fed Chair Jerome Powell for keeping interest rates high and failing to do enough to pump up the economy. Two of Trump's Fed Board appointees have signaled that they would be open to lowering rates if inflation stays low. Economists say that the Fed's direction will probably be influenced by future economic data. "The PCE inflation index and July jobs report are going to be crucial to shape expectations post this meeting," said Kieran Williams, head of Asia FX at InTouch Capital Markets. If inflation keeps cooling, a policy change might be postponed until September. Oil Jumps, Gold Slides, as Risk Assets Rally The commodities market was also buoyed by the better trade outlook. Oil prices inched up, with Brent crude and U.S. West Texas Intermediate both up about 0.5%. The increases were largely on expectations for stronger demand and less global trade friction after the U.S.-EU deal.
Straits Times
an hour ago
- Straits Times
Germany's Merz announces Gaza aid airlift, mulls upping ante on Israel
FILE PHOTO: German Chancellor Friedrich Merz and Prime Minister Keir Starmer (not pictured) attend a meeting at 10 Downing Street in London, Britain, July 17, 2025. Leon Neal/Pool via REUTERS/File Photo BERLIN - Germany will immediately launch an airlift to deliver humanitarian aid into Gaza as it considers stepping up pressure on Israel over the "catastrophic" situation in the enclave, Chancellor Friedrich Merz said on Monday. As the death toll from almost two years of war in Gaza nears 60,000, a growing number of people are dying from starvation and malnutrition, Gaza health authorities say, with images of starving children shocking the world and fuelling international criticism of Israel over sharply worsening conditions. Germany, together with the United States, has long remained one of Israel's staunchest allies and largest arms suppliers. U.S. President Donald Trump said on Monday many people were starving in the enclave, contradicting Israeli Prime Minister Benjamin Netanyahu who denied there was starvation there. The German security cabinet convened for more than two hours on Monday to discuss the situation, Merz told a news conference in Berlin. While it welcomed Israel's announcement of a halt in military operations for 10 hours a day in parts of Gaza as an "important first step", it agreed more must follow. Asked if the council discussed sanctions like suspending the EU pact governing relations with Israel, a move Germany has in the past rejected, Merz said the council had discussed what options were available. "We are keeping such steps on the table," he said. Before making any decisions, however, he would try to speak with Netanyahu later on Monday and Foreign Minister Johann Wadephul would travel to the region on Thursday, possibly together with his British and French counterparts. The German government would then reassess the situation over the weekend. In the meantime, Berlin would do what it could to help alleviate the humanitarian situation, launching an airlift in cooperation with Jordan to deliver aid into Gaza. "Defence Minister Boris Pistorius will closely coordinate with France and the UK, who are also willing to provide such an airlift for food and medical supplies," he said. "We know that this can only provide very limited help for the people in Gaza, but it is nonetheless a contribution we are eager to make." Germany would also prepare for a Gaza reconstruction conference in coordination with regional partners, Britain and France, he said. "No further expulsions from the Gaza Strip must occur." German officials say their approach to Israel is governed by a special responsibility, known as the Staatsraison, arising from the legacy of the Nazi Holocaust. They have long believed they can achieve more through diplomatic back channels than public statements. But Merz has come under growing pressure in recent weeks, including from within his own coalition, to take a firmer stance on Israel, and faced broad criticism for failing to join a statement last week by dozens of Western nations condemning the "inhumane killing" of Palestinians. REUTERS
