There has been a notable breakthrough on climate change at the #G20Italia meeting of the 20 most powerful world leaders in Rome, with a statement in the communiqué that pledges they will take further action to formulate, implement, update and enhance…
commitments to reduce emissions of greenhouse gases “ahead” of 2030. According to an official, this sets up #COP26 to “to deliver a short term acceleration [in greenhouse gas emissions] through the negotiations”. Several officials tell me…
that for them this is a much better G20 outcome than they expected even yesterday. Which may tell you something about the poverty of ambition of world leaders when it comes to climate change. And it gives a following wind to the idea I discussed yesterday that this COP…
may usher in a process for nationally determined contributions (NDCs) to reduce production of methane and CO2 being negotiated every two or three years rather than every five, as at present. There is also relief from these officials that the whole of the G20 has…
endorsed a target for “net zero” - no net emissions of greenhouse gases into the atmosphere - from around the middle of the century, and that no G20 member will finance new coal power stations outside their own country. Climate campaigners will see these promises…
as the unambiguous minimum needed. But one official involved in the talks says last week “a good number of G20 members” were refusing to agree even these limited climate-protecting measures, including on international coal finance. And another…
said: “this delivers a lot more than we had thought even 24 hours ago”.

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More from @Peston

25 Oct
The national living wage is set to be increased from £8.91 per hour to £9.50 I understand, on the advice of the Low Pay Commission. The recommendation has been put to the business secretary, @KwasiKwarteng, who is the minister responsible for the Commission. The 6.6%...
increase in what is the minimum wage for all those over 22 years old has been accepted by Kwarteng. It will be formally announced by the Chancellor, @RishiSunak, in the budget on Wednesday. The rise is inflation-busting, and will go some way to compensating the low paid...
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22 Oct
I pointed out three months ago that daily dashboard infection figures don’t include anyone infected for a second time, and that I thought this unfortunate, because by definition it means those daily figures are not the whole Covid19 story. These daily figures…
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26 Sep
Standing ovation for Margaret Hodge speech about rooting out antisemitism through Labour Party rule changes. The change to disciplinary procedures, which will give more power to NEC, very significant. Feels as though a very important reform is coming
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Read 4 tweets
24 Sep
Under the “supplier of last resort” scheme to protect customers of failed energy companies, every rescued customer of a failed energy company costs the rescuing company £600 to £700 to “on board”, which they have the right to reclaim over 15 to 24 months from every…
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22 Sep
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20 Sep
I cannot see how even cheap government loans are remotely going to fix this problem of crashing energy companies. Because the fundamental problem is that energy customers are MASSIVELY loss making for energy suppliers that haven’t hedged their gas supply commitments. That’s…
true for those businesses failing now and any big company that might take on those stranded customers. So why would big companies ride to the rescue? I can’t see it. Unless that is government were to legislate to allow the price cap next spring to rise way beyond…
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