Targets revised upwards: As expected, US President Joe Biden has relaunched the United States in the race against climate change, pledging to reduce GHG emissions by 50% by 2030, compared with 1990 levels.

The summit was also an opportunity for other countries to revise their climate ambitions upwards, as in the case of Canada and Japan, which significantly increased their emissions reduction targets (to 40/45% and 45% respectively, by 2030).

To achieve these new targets, the United States will be able to count on the support of the major American banks, which have announced almost USD 5,000 billion in green investments by 2030.

Hopes for better protection of the Amazon: American efforts have also borne fruit when it comes to the Amazon rainforest, which is experiencing a record rate of deforestation under the reign of President Jair Bolsonaro. Between August 2019 and July 2020, the equivalent of the surface area of Jamaica was destroyed. As proof of his good intentions, the Brazilian President has promised to put an end to illegal deforestation in the Amazon by 2030.

We told you about it last week, the Climate and Resilience Act has been passed by the French National Assembly, and we've identified one amendment that has caused less of a stir than others (such as the ban on domestic flights if the alternative is less than 2.5 hours): the introduction of mandatory eco-driving training. Private companies with more than 100 vehicles and public institutions with more than 20 vehicles are concerned. Eco-driving training is now compulsory, as is training in the use of plug-in hybrid vehicles in electric mode for new owners of these vehicles.

As a reminder, a person trained in eco-driving can reduce fuel consumption by up to 20%, and GHG emissions by the same amount. The benefits are both economic and climatic.

Don't hesitate to contact us to find out more, and we'll put you in touch with our preferred partner who is an expert in eco-driving training.

As we reported in recent weeks, in June the European Commission is due to present its proposals for strengthening mechanisms to reduce greenhouse gas emissions. Expectations include a strengthening of the EU Emissions Trading System (EU ETS) and the possible introduction of a carbon tax at the EU's borders.

In this context, the President of the European Commission, Ursula Von der Leyen, last week gave us a preview of the June announcements, stating that the transport and building sectors will also be covered by an emissions trading scheme.

As a reminder, at this stage, the European carbon market essentially applies to the energy production sectors and to activities that are highly energy-intensive, and therefore generally high GHG emitters. These include refineries, steel mills, aluminum production, cement plants and certain activities in the chemical sector.

Finally, it has not yet been decided whether transport and buildings will be included in the current system (ETS) or covered by a new mechanism, yet to be defined.

Bonus: 2020 is ranked among the three warmest years on record, according to the World Meteorological Organization (WMO), which also considers the decade 2011-2020 to be the warmest on record. The WMO study is based primarily on 5 international datasets, including data from NASA (the US space agency) and the European Centre for Medium-Range Weather Forecasts (ECMWF) and its Copernicus agency. According to Copernicus data, 2020 is the hottest year on record (tied with 2016), and the average global temperature was 1.25°C warmer than the average for the pre-industrial era 1850-1900*.