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☆ Stocks to buy for the next leg of the bull market, according to a money manager who helps run $1 trillion
▼ + stars: | 2024-01-19 | by ( Yun Li | ) www.cnbc.com time to read: +3 min

The S & P 500 just notched a record high to declare its bull market status, but according to one money manager who helps oversee more than $1 trillion, there are a few names investors could focus on for the next leg of the cycle. "We're concerned about U.S. consumers, who are burdened by record levels of credit card debt at elevated interest rates." .SPX 1Y mountain S & P 500 The S & P 500 , which hit an all-time intraday peak on Friday, roared back at the end of 2023, notching a 24% gain for the year. Infrastructure stocks Malik believes that global infrastructure companies benefit from inelastic demand for the necessary services they provide, and are thus insulated from most recession risks. "Both dividend growth and global infrastructure stocks have historically weathered down markets relatively well," Malik said.

Persons: Saira Malik, Malik, that's, Linde Organizations: Investors, Fed, CNBC Pro, Motorola Solutions, Deutsche Bank, Motorola, CMS Energy Locations: Jackson, Michigan

☆ This fund scored a big win with its bet on Adani. Now, it could be pressing pause
▼ + stars: | 2024-01-18 | by ( Shreyashi Sanyal | ) www.cnbc.com time to read: +1 min

Art school teacher Sagar Kambli gives final touches to a painting of Indian businessman Gautam Adani (L) highlighting the ongoing crisis of the Adani group in Mumbai on February 3, 2023. One of the biggest investors in India's Adani Enterprises says he may be done doubling down on his investment. So I don't know [if] we'll double down further," Jain said on "Street Signs Asia." I don't know whether we'll go further from here." Adani Enterprises, owned by one of India's richest men Gautam Adani, is one of the country's top three conglomerates.

Persons: Sagar Kambli, Gautam Adani, Rajiv Jain, Jain, we'll Organizations: India's Adani Enterprises, GQG Partners, CNBC, Adani Enterprises, Hindenburg Locations: Mumbai, New

☆ JPMorgan says these renewable stocks will benefit most from selling clean energy tax credits
▼ + stars: | 2024-01-18 | by ( Spencer Kimball | ) www.cnbc.com time to read: +3 min

Renewable energy companies are poised to benefit from a burgeoning market that allows them to sell clean energy tax credits, according to JPMorgan. The Inflation Reduction Act offers generous tax credits for renewable energy projects but many companies are struggling to fully take advantage of them. "We believe this transfer market, once ramped, will offer a potentially cheaper and more efficient way to monetize tax credits," Strouse wrote. The IRA offers renewable companies a range of tax credits for the electricity they produce, their investments in new projects, and the components they manufacture. The problem is that the tax credits are often substantially higher than project developers actual tax bills, according to JPMorgan.

Persons: Mark Strouse, Strouse, Omrat, Brookfield Organizations: JPMorgan, Altus, Brookfield Renewable Partners, Enlight Renewable Energy, Ormat Technologies, Bank of America, Bloomberg New Energy Finance, Technologies, Altus Power Locations: Altus Power, Flemington

Auchincloss, a 53-year-old Canadian who was BP’s chief financial officer for more than three years, took on the top job in September after Looney's surprise resignation. Auchincloss joined BP when it took over oil firm Amoco in 1998. “Since September, BP’s board has undertaken a thorough and highly competitive process to identify BP’s next CEO, considering a number of high-caliber candidates in detail,” BP chairman Helge Lund said. He was denied 32.4 million-pound ($41 million) worth of salary, pension, bonus payments and shares, after BP said he had committed “serious misconduct” by misleading the board. BP has had four different bosses over the past 15 years.

Persons: Murray Auchincloss, Bernard Looney, Looney's, Auchincloss, BP’s, ”, Helge Lund, Lund, ” Auchincloss, Charlie Kronick, ” Kronick, ” Looney, Bob Dudley Organizations: BP, Amoco, RBC Capital Markets, Greenpeace Locations: “, Gulf of Mexico

Zelensky and Trump loom over DavosTwo people are having an outsize impact at the World Economic Forum, and one of them isn’t even there. One is Volodymyr Zelensky, Ukraine’s president, who put on a full-court press of business and global leaders at the forum in Davos, Switzerland. Zelensky isn’t the only leader at Davos worried about Trump. The Ukrainian leader has sought to shore up global business support. And the annual wine tasting hosted by Anthony Scaramucci, the financier and former Trump official, well, ran out of wine.

Persons: Volodymyr Zelensky, Donald Trump, Zelensky, Vladimir Putin, Andrew, Trump, Putin, “, ” Zelensky, Republican Party ”, DealBook, thumped, JPMorgan Chase, Steve Schwarzman, Blackstone, Ray Dalio, David Rubenstein, Carlyle, Michael Dell, John Kerry, Biden’s, Anthony Scaramucci, Christine Lagarde, Christopher Waller, Nelson Peltz’s, James Gorman, Morgan Stanley, Mary Barra, General Motors —, Bob Iger, Disney’s, Murray Auchincloss, Bernard Looney, Auchincloss, Yi Fuxian Organizations: Trump, Economic, Ukraine, Republican Party, Republican, JPMorgan, Congress Center, Dell, European Central Bank, Fed, Disney, General, BP, University of Wisconsin – Locations: Davos, Switzerland, Europe, Ukraine, American, Iowa, Bridgewater, China, Beijing, Russia, Britain, U.S, Asia, University of Wisconsin – Madison

☆ BDR Thermea: Majority of German homes need to switch from oil and gas to renewables
▼ + stars: | 2024-01-15 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBDR Thermea: Majority of German homes need to switch from oil and gas to renewablesChristian Sieg, managing director of BDR Thermea, discusses the energy transition in Germany and what the heating industry can do to facilitate the move and assist consumers while they transition to renewable alternatives.

Persons: BDR Thermea Locations: Germany

☆ Goldman Sachs says it's time to buy this unloved global sector — and names some top stocks
▼ + stars: | 2024-01-15 | by ( Amala Balakrishner | ) www.cnbc.com time to read: +2 min

Europe's utilities sector may have come under pressure over the past three years, but Goldman Sachs says a shift is underway, naming stocks to play the industry in 2024. But things are looking up for Europe's utilities sector, according to Goldman Sachs' analysts led by Alberto Gandolfi. Stock picks German energy company RWE is among the stocks highlighted by Goldman, which said it continues to value its renewables business. Goldman has a buy rating on the stock, which is also on its conviction list of top picks. The bank has a price target of 22 euros on the company, giving it just over 33% potential upside.

Persons: Goldman Sachs, Alberto Gandolfi, inflecting, Goldman, Solaria, — CNBC's Michael Bloom Organizations: Renewable Energy, U.S . Federal Reserve, Italian Hydro Locations: Ukraine, Spanish

☆ Top Wall Street analysts recommend these stocks for dividend-oriented investors
▼ + stars: | 2024-01-14 | by ( Tipranks.Com Staff | ) www.cnbc.com time to read: +6 min

As investors confront uncertain markets in the short term, dividend paying stocks could offer some portfolio stability and income. Civitas ResourcesFirst, there is independent oil and natural gas producer Civitas Resources (CIVI). This payment included a base dividend of $0.50 per share and a variable dividend of $1.09 per share. (See Civitas Insider Trading Activity on TipRanks)Williams CompaniesWe move to another energy dividend stock – Williams Companies (WMB). Williams recently acquired a portfolio of natural gas storage assets from Hartree Partners LP's affiliate for $1.95 billion.

Persons: Eric Greager, Wall, Nitin Kumar, Kumar, TipRanks, Williams, Selman Akyol, Akyol, KIM, Kimco Realty's, Simon Yarmak Organizations: Civitas Resources, NYSE, Williams, Hartree Partners, U.S, TipRanks, Kimco, RPT Realty, Aid, Kimco Realty Locations: Denver, Civitas, U.S, Transco, Kimco

☆ One country dominated clean energy growth this year, and it isn't the US, UK, or Germany. It's China, by a landslide.
▼ + stars: | 2023-12-27 | by ( Associated Press | ) www.businessinsider.com time to read: +11 min

In the United States, California continues to have the most solar energy, followed by Texas, Florida, North Carolina, and Arizona. China was one of the few growing markets this year for wind, the Global Wind Energy Council said. Faster permitting and other improvements in key markets such as Germany and India also helped add more wind energy. The top three markets this year are still China, the United States, and Germany for wind energy produced on land, and China, the United Kingdom, and Germany for offshore. The analysts are predicting that the global industry will rebound next year and make nearly 12% more wind energy available worldwide.

Persons: Mohammed bin Rashid Al Maktoum, Joshua A, Bickel, it's, Michael Taylor, IRENA, Karim Shahi, Rafiq Maqbool, Daniel Bresette, Bresette, Abigail Ross Hopper, Wood, Wood Mackenzie, Julia Nikhinson Construction, John Hensley, Seth Wenig, Hau Dinh, Evan Hartley, Paul Braun, John Eichberger, Daan Walter Organizations: Service, International Energy Agency, Business, IEA, United Arab Emirates, Climate, AP, International Renewable Energy Agency, Arizona . Workers, Energy Limited's, Energy, Environmental, Energy Study Institute, Solar Energy Industries Association, Global Energy Monitor, Wind Energy, Clean Power, Workers, Atlas Public, Benchmark Mineral Intelligence, Benchmark, University of Illinois, Panasonic, Toyota, Health, General Motors Co, LG Energy, Transportation Energy Institute, Rocky Mountain Institute Locations: Germany, Spain, Mohammed, Dubai, United, Bickel China, Europe, United States , California, Texas , Florida, North Carolina, Arizona, Karim, Khavda, Bhuj, India, Pakistan, Gujarat, China, Wood Mackenzie, Montauk Point , New York, Asia, United States, State, New London, Conn, United Kingdom, Hai Phong, Vietnam, Kansas, Ohio

COP28 president Sultan Ahmed Al Jaber speaks during the Transforming Food Systems in the Face of Climate Change event on the sidelines of the COP28 climate summit at Dubai Expo on December 1, 2023. "We delivered world first after world first," the UAE summit presidency said in a further social media update. And we have language on fossil fuels in our final agreement." Many believed the COP28 summit could only be considered a success if it resulted in a deal to phase out all fossil fuels. COP28 President Sultan al-Jaber sparked a backlash earlier this month after he claimed there is "no science" behind calls for a phase-out of fossil fuels.

Persons: Sultan Ahmed Al Jaber, Ludovic Marin, Licypriya Kangujam, Sean Gallup, Wopke Hoekstra, Alok Sharma, Sharma, CNBC's, Simon Stiell, We're, John Kerry, Selma de Montgomery, Avinash Persaud, Mikhail Gitarskiy, Sultan al, Jaber, he'd, Al Organizations: Food Systems, Dubai Expo, Afp, Getty Images, UAE Consensus, UAE, United Arab Emirates, Getty, Russian, BBC, Abu, Abu Dhabi National Oil Co Locations: Dubai, UAE, United Arab, United Arab Emirates, Pacific, Caribbean, Latin America, Africa, Asia, North America, Paris, United States, China, Denmark, Barbados, Moscow, Abu Dhabi

☆ Iberdrola and Masdar to invest $16 billion in green energy
▼ + stars: | 2023-12-05 | by ( Pietro Lombardi | ) www.reuters.com time to read: +2 min

REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsCompanies Iberdrola SA FollowRwe Ag FollowMADRID, Dec 5 (Reuters) - Spanish renewable energy giant Iberdrola (IBE.MC) and UAE clean energy developer Masdar have formed a 15 billion euro ($16.2 billion) alliance to invest in offshore wind and green hydrogen in countries including Germany, Britain and the United States. The agreement announced on Tuesday follows a pledge by 118 countries at the COP28 climate summit in Dubai to triple the world's renewable energy capacity by the end of the decade as they seek to wean themselves off fossil fuels. "Reaching this goal will require immediate action from these governments and the private sector," said Iberdrola Executive Chairman Ignacio Galan. "With an abundance of wind resources, the UK and Europe are prime markets for Masdar," said Masdar Chief Executive Mohamed Jameel Al Ramahi. Last week Masdar and Germany's RWE (RWEG.DE) said they would co-develop a 3 GW wind project off the coast of Britain.

Persons: Dado Ruvic, Ignacio Galan, Mohamed Jameel Al Ramahi, Germany's, Iberdrola, Pietro Lombardi, Jakub Olesiuk, Kirsten Donovan, David Goodman Organizations: REUTERS, East Anglia, Masdar, China, Thomson Locations: MADRID, UAE, Germany, Britain, United States, Dubai, Iberdrola's, East, Spanish, Europe, Baltic

"There cannot be any pressure on India to cut down emissions," India's power and renewable energy minister R.K. Singh said on Nov. 30. ASIAN EMISSIONS RISETo be sure, fast-growing Asia, home to half the world's population, accounts for three-fifths of global emissions from power generation, including from sectors exporting goods and services to the west. Despite challenges, Asia, along with Europe and North America, have cut the share of coal in power use, although at a slower pace. Cuts in nuclear power have slowed Europe and North America's fight to reduce emissions, although nuclear's share of their power mix remains well above Asia's. The share of gas in power generation has risen in the West, with the fuel accounting for a shrinking share in Asia.

Persons: Tingshu Wang, R.K, Singh, Hogeveen Rutter, Rutter, ISA's Rutter, Sudarshan Varadhan, Tony Munroe, Sonali Paul Organizations: Huawei, REUTERS, U.S, European Union, North America, International Solar Alliance, Reuters, WEST, North, Institute for Energy Economics, Thomson Locations: Shaanxi, China, Asia, SINGAPORE, America, Europe, India, North America, Paris, North, North America Asia, West Asia, West, Indonesia

☆ Aramco chief says renewables still not enough to cover demand
▼ + stars: | 2023-12-04 | by ( ) www.reuters.com time to read: 1 min

President and CEO of Aramco Amin Nasser attends the Energy Asia conference in Kuala Lumpur, Malaysia June 26, 2023. REUTERS/Hasnoor Hussain/ File photo Acquire Licensing RightsDUBAI, Dec 4 (Reuters) - Saudi oil giant Aramco's Chief Executive on Monday told a panel on the sidelines of the COP28 climate summit in the UAE that that all the renewable energy coming to market is still not enough to handle additional demand. Aramco CEO Amin Nasser added that more investment in the oil and gas sector is still needed. Reporting by Maha EL Dahan and Yousef Saba Editing by David GoodmanOur Standards: The Thomson Reuters Trust Principles.

Persons: Amin Nasser, Hasnoor Hussain, Yousef Saba, David Goodman Organizations: Energy Asia, REUTERS, Rights, Maha, Thomson Locations: Kuala Lumpur, Malaysia, Saudi, UAE

According to data firm Preqin, only one emerging markets greenfield renewables fund has raised more than Copenhagen wants to amass, although the 2014 $3.26 billion Guangzhou City Development Industry Fund is focused on China. While a deal to phase out fossil fuels has been hard to agree, more than 60 countries have backed a global agreement to triple renewable energy this decade. The growth in demand for electricity is enormous," he told Reuters, adding that renewable energy was often the cheapest energy source. Founded in 2012, Denmark's Copenhagen manages 26 billion euros ($28.3 billion) of assets and runs 12 funds. Recent development projects include an offshore wind farm in Bangladesh and the first 100% foreign-owned offshore wind energy schemes in the Philippines.

Persons: Niels Holst, Holst, Simon Jessop, Tommy Reggiori Wilkes, Jan Harvey Organizations: Copenhagen Infrastructure Partners, Reuters, Guangzhou City Development Industry Fund, Denmark's, Thomson Locations: DUBAI, Copenhagen, China, Dubai, Britain, Denmark's Copenhagen, Bangladesh, Philippines, Asia, Pacific, America

☆ Brookfield’s energy M&A loss is teachable moment
▼ + stars: | 2023-12-04 | by ( ) www.reuters.com time to read: +2 min

MELBOURNE, Dec 4 (Reuters Breakingviews) - Brookfield Asset Management (BAM.TO), has some wounds to lick. On Monday the Canadian investment firm’s joint $13 billion offer with MidOcean Energy for Australian power generator and retailer Origin Energy (ORG.AX)failed after the bidders secured backing from 69% of voted shares, below the required 75% threshold. It could target smaller local energy firms, like Alinta Energy and EnergyAustralia, owned by Hong Kong-based Chow Tai Fook Enterprises and CLP (0002.HK) respectively. Brookfield has made other investments from its $15 billion global transition fund, including to co-buy Westinghouse Electric. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Bruce Flatt, Chow, Brookfield, Antony Currie, Neiman Marcus, Una Galani, Thomas Shum Organizations: MELBOURNE, Reuters, Brookfield Asset Management, MidOcean Energy, Origin Energy, Alinta, Chow Tai Fook Enterprises, CLP, HK, Westinghouse, X, Saks, Thomson Locations: Brookfield, Hong Kong

☆ Member Panel: Energy
▼ + stars: | 2023-12-04 | by ( Morgan Brennan | ) www.cnbc.com time to read: 1 min

America's transition from fossil fuel to renewable energy will run right through the CFO's office, as CFOs balance their company's present-day realities with a desire to meet long-term carbon footprint reduction goals. The transition was never going to be linear, but current economic conditions—stable oil prices, rising interest rates, and a steady flow of government incentives into renewables—have made things considerably messier. Our trio of energy-sector CFOs take the stage to bring some clarity to the situation.

The hundreds of fossil fuel-connected people make up just a tiny share of the 90,000 people who registered to attend the climate summit known as COP28. “Let history reflect the fact that this is the Presidency that made a bold choice to proactively engage with oil and gas companies,” al-Jaber said. COP28 comes as the planet faces a mounting imperative to reduce greenhouse gas emissions. David Hone, Shell's chief climate adviser, is in Dubai for at least his 17th appearance at the annual climate talks. At the moment, it's preventing about 0.1% of the energy sector's carbon emissions from reaching the atmosphere, according to the IEA.

Persons: Bob Deans, Deans, Sultan al, Jaber, “, ” al, COP28, TotalEnergies, Paul Naveau, Patrick Pouyanné, ” Naveau, Naveau, Shell, that's, ”, Arthur Lee, David Hone, Hone, Rachel Rose Jackson Organizations: The United Nations, U.S, Resources Defense, United Arab Emirates, Global, Coalition, Shell, TotalEnergies, BP, AP, Nations, UN, didn't, ”, International Energy Agency, IEA, Chevron, Corporate Locations: United Nations, Dubai, Chevron, Shell's

☆ Climate summit leader said there’s ‘no science’ behind need to phase out fossil fuels, alarming scientists
▼ + stars: | 2023-12-03 | by ( Laura Paddison | ) edition.cnn.com time to read: +6 min

CNN —The president of the COP28 climate summit, Sultan Al Jaber, recently claimed there is “no science” that says phasing out fossil fuels is necessary to limit global warming to 1.5 degrees Celsius above pre-industrial levels, in comments that have alarmed climate scientists and advocates. The future role of fossil fuels is one of the most controversial issues countries are grappling with at the COP28 climate summit. Al Jaber was asked by Mary Robinson, former president of Ireland and current chair of the Elders Group, an independent group of global leaders, if he would lead on phasing out fossil fuels. While some argue carbon capture will be an important tool for reducing planet-heating pollution, others argue these technologies are expensive, unproven at scale and a distraction from policies to cut fossil fuel use. “They are not going to get any help from the COP Presidency in delivering a strong outcome on a fossil fuel phase out,” he said in a statement.

Persons: Sultan Al Jaber, Al Jaber, Mary Robinson, Robinson, ”, Al Jaber’s, what’s, Romain Ioualalen, Al, ” Joeri, Mohamed Adow, Angela Dewan, Rachel Ramirez Organizations: CNN, ”, Guardian, Elders Group, Abu, Abu Dhabi National Oil Company, UN, International Energy Agency, IEA, Stockholm Environment Institute, Change, Imperial College London Locations: Paris, “, Abu Dhabi, Stockholm, UN, UAE

A general view of a wind turbine at Westmill Wind Farm & Solar Park, which is owned by the community and supports local renewable energy, at Watchfield, near Swindon, Britain, September 24, 2021. "More than 110 countries have joined already," European Commission President Ursula von der Leyen told the COP28 summit on Thursday of the renewables pledge. A draft of the renewable energy pledge, seen by Reuters, called for "the phase down of unabated coal power" and ending the financing of new coal-fired power plants. Africa receives just 2% of global investments in renewable energy. Somalia has the highest onshore wind power potential of any African country, yet one of the lowest electrification rates in the continent, according to the International Energy Agency.

Persons: Andrew Boyers, Ursula von der Leyen, Najib Ahmed, Kate Abnett, Richard Valdmanis, William Mallard Organizations: REUTERS, Rights, European Union, United Arab, BP, Reuters, International Energy Agency, ___, Thomson Locations: Watchfield, Swindon, Britain, United States, United Arab Emirates, China, India, South Africa, Vietnam, Australia, Japan, Canada, Chile, Barbados, COP28, Africa, Somalia

John Kerry, President Joe Biden's climate envoy, is expected to announce at COP28 a global strategy in nuclear fusion. If it is produced using renewables like wind or solar power, as opposed to fossil fuel generated power, it is called green hydrogen. Governments and companies think green hydrogen could be a way to clean up hard-to-decarbonize industries like steel and cement-making and other industrial manufacturing. PwC said technologies like green hydrogen and reducing food waste have relatively high emissions reduction potential, but are receiving a small share of start-up investment. In 2023, green hydrogen got 3.9% of global climate-tech venture funding, while food waste got 0.7%, it said.

Persons: PwC, John Kerry, Joe Biden's, David Schatsky, Schatsky, Timothy Gardner, Richard Valdmanis, Diane Craft Organizations: International Energy Agency, Fusion Industry Association, FIA, Companies, Deloitte, Entrepreneurship, Reuters, Thomson Locations: Olfus, Iceland, Dubai, United States, Texas, Louisiana, Australia, China, Germany, Japan, U.S, ASIA, AFRICA, France, India, Asia, Africa

☆ Surging U.S. Oil Production Brings Down Prices and Raises Climate Fears
▼ + stars: | 2023-12-01 | by ( Clifford Krauss | More About Clifford Krauss | ) www.nytimes.com time to read: +1 min

“There is a foreign policy dividend in keeping a lid on oil prices,” said David Goldwyn, who was a leading energy diplomat in the Obama administration. Exxon Mobil was kicked out of the Dow Jones industrial average, and some European oil companies announced plans to pivot from fossil fuels to renewables more quickly. While he has supported green energy and battery-powered cars, he has also hectored oil companies to increase production in an effort to drive down prices for consumers. He has approved a large drilling project in Alaska over the objections of environmentalists and a small number of offshore oil and gas permits. Mr. Biden has been under pressure from some Democrats to trumpet gains in oil production as a way of reaching out to voters who are leery of high gas prices.

Persons: ”, David Goldwyn, Obama, Joe Biden, Biden Organizations: Investors, Exxon Mobil, Dow Locations: Alaska

☆ So, an Oil Cartel Walks Into a Climate Summit …
▼ + stars: | 2023-12-01 | by ( Jim Tankersley | More About Jim Tankersley | ) www.nytimes.com time to read: +1 min

In a far corner of the temporary village housing the United Nations climate summit, the world’s largest cartel of fossil fuel producers plied skeptical young activists with chocolate and free pens. A continent away, in Vienna, the cartel’s members were voting to give the summit what amounts to another very small climate treat: at least a temporary reduction in oil and gas drilling. That’s the opposite of what President Biden, who has made climate policy a top priority during his administration, is delivering from the United States. Those delegates are celebrating an accelerating global transition toward low-emission sources of energy like wind and solar power. But expanding renewables is not enough to save the planet, scientists warn, so many delegates are demanding that the world rapidly phase out its use of fossil fuels.

Persons: Biden Organizations: United Arab Emirates, Organization of, Petroleum Locations: United Nations, Vienna, United States, Dubai

☆ Biden and Xi are glaringly absent from the UN's climate summit. That doesn't bode well for the world.
▼ + stars: | 2023-12-01 | by ( Tom Porter | ) www.businessinsider.com time to read: +5 min

World leaders are gathering in the UAE for the COP28 climate change summit. But President Joe Biden and Xi Jinping of China will be absent. But the leaders of the world's biggest polluting nations — President Joe Biden and China's leader Xi Jinping — will be conspicuous by their absence. AdvertisementA man walks past a COP28 sign during the United Nations climate summit in Dubai on December 1, 2023. Xi and Biden are doing little to signal their commitment to sharing the burden of reducing the climate crisis equally by not attending the summit, say critics.

Persons: Joe Biden, Xi, King Charles, Pope Francis, Xi Jinping, LUDOVIC MARIN, Biden, Kamala Harris, John Kerry, Xie Zhenhua, Tom Evans, Evans, Sultan Al Jaber, Kerry Organizations: Service, United Arab Emirates, White, Sunday, US, Democratic, APEC, BBC, Climate, Business, Sierra Club Locations: UAE, China, United Nations, Dubai, Biden's, Xi, San Francisco

☆ A Tense Climate Summit Begins Against a Backdrop of War and Record Heat
▼ + stars: | 2023-12-01 | by ( David Gelles | More About David Gelles | ) www.nytimes.com time to read: +1 min

With dire warnings of planetary catastrophe and urgent pleas to protect vulnerable populations, world leaders on Friday implored one another to stop burning fossil fuels and swiftly reduce the greenhouse gas emissions that are `dangerously heating the planet. “We cannot save a burning planet with a fire hose of fossil fuels,” António Guterres, the U.N. secretary general, said. “We must accelerate the just, equitable transition to renewables.”The annual meeting, known as COP28, comes near the end of what scientists forecast will be the hottest year in recorded history. Greenhouse gas emissions, mainly driven by the burning of fossil fuels, have now warmed the planet by about 1.2 degrees Celsius above preindustrial levels. Floods, fires, droughts and storms made worse by climate change are unleashing destruction around the world.

Persons: António Guterres, “ Organizations: United Nations Locations: Dubai, United Arab Emirates

☆ Explainer-Can Technology Solve the Global Climate Crisis?
▼ + stars: | 2023-12-01 | by ( Dec. | At P.M. | ) www.usnews.com time to read: +6 min

Persons: Timothy Gardner, PwC, John Kerry, Joe Biden's, David Schatsky, Schatsky, Richard Valdmanis, Diane Craft Organizations: Reuters, International Energy Agency, Fusion Industry Association, FIA, Companies, Deloitte, Entrepreneurship Locations: Dubai, United States, Texas, Louisiana, Australia, China, Germany, Japan, U.S, ASIA, AFRICA, France, India, Asia, Africa

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