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Weather derivatives were born in the late 1990s. Climate change and the El Nino weather phenomenon combined to make the northern hemisphere summer of 2023 the hottest ever recorded, according to the European Union Climate Change Service. Weather derivatives let buyers hedge against the risk that the weather will damage their business. Average open interest in CME weather futures and options contracts in September was around 170,000 contracts, compared to roughly 10 times that for crude oil - although market participants reckon 90% of the weather derivatives market is in over-the-counter deals. "Extreme weather events tend to make good marketing for weather futures," said Samuel Randalls, a professor at University College London who focuses on weather and climate.
Persons: Andrew ., Ken Griffin's, Peter Keavey, Griffin's Citadel, Nick Ernst, Ernst, Matthew Hunt, Samuel Randalls, David Whitehead, Whitehead, UCL's Randalls, BGC's Ernst, Martin Malinow, Harry Robertson, Emelia Sithole Organizations: NYPD, REUTERS, Energy, Chicago Mercantile Exchange, Enron, CME Group, El, Change, Graphics, University College London, Citadel, Thomson Locations: Manhattan, Williamsburg, New York City, U.S, Paris, New York, Ukraine
Weather derivatives were born in the late 1990s. Climate change and the El Nino weather phenomenon combined to make the northern hemisphere summer of 2023 the hottest ever recorded, according to the European Union Climate Change Service. Weather derivatives let buyers hedge against the risk that the weather will damage their business. Average open interest in CME weather futures and options contracts in September was around 170,000 contracts, compared to roughly 10 times that for crude oil - although market participants reckon 90% of the weather derivatives market is in over-the-counter deals. "Extreme weather events tend to make good marketing for weather futures," said Samuel Randalls, a professor at University College London who focuses on weather and climate.
Persons: Andrew ., Ken Griffin's, Peter Keavey, Griffin's Citadel, Nick Ernst, Ernst, Matthew Hunt, Samuel Randalls, David Whitehead, Whitehead, UCL's Randalls, BGC's Ernst, Martin Malinow, Harry Robertson, Emelia Sithole Organizations: NYPD, REUTERS, Energy, Chicago Mercantile Exchange, Enron, CME Group, El, Change, Graphics, University College London, Citadel, Thomson Locations: Manhattan, Williamsburg, New York City, U.S, Paris, New York, Ukraine
REUTERS/Yuri Gripas/File Photo Acquire Licensing RightsMARRAKECH, Morocco, Oct 10 (Reuters) - Senior executives at multilateral development banks will meet on Wednesday with the top credit ratings agencies, bank executives said, amid a broad push to expand their lending capacity and help countries brace for climate change and other challenges. The World Bank's main lending arms could expand their lending capacity by nearly $900 billion if the ratings agencies changed their processes and modified the allowance they make for callable capital, a study commissioned by Rockefeller found. Lakshmi Shyam-Sunder, the World Bank's chief risk officer, said the ratings agencies had shown some openness to considering revisions in how they treat callable capital in the banks' balance sheets. Casali said Wednesday's meeting, on the sidelines of the annual meetings of the International Monetary Fund and World Bank in Morocco, would include officials from the World Bank, the Asian Development Bank and the African Development Bank, along with the three top credit raters - Moody's, Standard & Poor's and Fitch. Currently, the ratings agencies apply widely different rules and standards in assessing the risks associated with the banks' lending and balance sheets.
Persons: Yuri Gripas, Roberta Casali, Rockefeller, Lakshmi Shyam, Sunder, Casali, Fitch, Ajay Banga, Janet Yellen, Andrea Shalal, David Lawder, Leslie Adler Organizations: Monetary Fund, REUTERS, Rights, Asian Development Bank, Rockefeller, AAA, International Monetary Fund, World Bank, African Development Bank, Poor's, World, Reuters, U.S, Treasury, Thomson Locations: Washington , U.S, Rights MARRAKECH, Morocco
A bronze seal for the Department of the Treasury is shown at the U.S. Treasury building in Washington, U.S., January 20, 2023. U.S. Treasury Secretary Janet Yellen has been pushing for reforms to expand the World Bank's lending for a year, after an expert panel review concluded that the institutions, government shareholders and credit rating agencies were too timid about financial risks. The Treasury official said World Bank governors were expected to sign off on the new measures this week and mapped out previously unreported details on the callable capital issue, including the timetable for action. Any new proposal on treatment of callable capital will require approval by the shareholders of each of the respective multilateral development banks, bank officials have said. "You've got to work on global challenges like climate fragility and pandemics and poverty and boosting shared prosperity all at once because they are all mutually reinforcing and intertwined," the Treasury official said.
Persons: Kevin Lamarque, MDBs, Janet Yellen, You've, Andrea Shalal, Mark Porter Organizations: Department of, U.S . Treasury, REUTERS, Treasury, U.S . Treasury Department, World Bank, Bank, Reuters, Rockefeller Foundation, International Monetary Fund, Thomson Locations: Washington , U.S, MARRAKECH, Morocco, U.S, Marrakech
Four scientists told Insider his plan is bad for technical, scientific, and ethical reasons. Yes, experts agree we might want to settle other worlds, but Mars might not be our best bet, at least not now, four scientists told Insider. SpaceX's first priority is "establishing a cargo route to Mars," Musk told the Washington Post in 2016. From Mars, Musk told the IAC, people could go to the asteroid belts, the moons of Jupiter and Saturn, and the Kuiper belt. AdvertisementAdvertisementEssentially, terraforming Mars would involve melting its polar ice caps, which would release CO2 reserves.
Persons: Elon Musk, , Ray Bradbury's, Arnold Schwarzenegger, Christopher Edwards, He's, Musk, Refugio Ruiz Musk's, they'd, he's, Edwards, PATRICK T, FALLON, there's, Bruce Jakosky, Jakosky, Andrew Coates, Coates, Mars, terraformed, Alexander Gerst, Rachael Seidler, Refugio Ruiz, Seidler, Jeff Bezos, Buzz Aldrin, Chris McKay, " Edwards, that's Organizations: Service, Northern Arizona University, SpaceX, Mars SpaceX, International Astronautical, Washington Post, IAC, Elon Musk, NASA, Getty, Mars, ESA, University College London's, Science, University of Florida, AP, JPL, Caltech, SETI, Center for Strategic, International Studies, NASA's Ames Research Center Locations: Texas, Mars
Others say that direct air capture is a necessary part of a diverse effort to limit global warming. Carbon removal companies such as Climeworks create carbon credits corresponding to units of carbon dioxide captured by their plants — these credits can be purchased by companies to offset their carbon emissions. Some say investing in direct air capture technology is pointless. "If it's being used for direct air capture, it's not being used for something else. Many global climate leaders agree.
Persons: Bilha Ndirangu, watchdogs, Ugbaad Kosar, that's, Jonathan Foley, Ndirangu, Carlijn Nouwen, Nouwen, Olúfẹ́mi, Táíwò, That's, Mark Jacobson, it's, Julie Gosalvez, Climeworks, Gosalvez Organizations: Deutsches Museum, United Nations, Africa Climate Summit, Georgetown University, Stanford University Locations: Munich, Kenya, Swiss, Climeworks, Carbon, Africa, Nairobi, Saharan Africa, Tanzania, Ethiopia
Brazil's Lula Leaves Hospital After Hip Surgery
  + stars: | 2023-10-01 | by ( Oct. | At P.M. | ) www.usnews.com   time to read: +1 min
BRASILIA (Reuters) - Brazilian President Luiz Inacio Lula da Silva left hospital on Sunday two days after hip surgery and will spend three weeks recovering at the Alvorada presidential residence, his office and doctors said. Lula underwent surgery at the Sirio-Libanes Hospital on Friday for arthrosis of the right hip caused by the extremely painful wear and tear of the cartilage on the head of the femur. His doctors had expected him to remain in the hospital until Tuesday, but he began to walk on Saturday in physiotherapy sessions. The hospital reported he had walked up and down stairs on Sunday. The arthroplasty, carried out under general anesthetic, involved removing the head of the femur to implant a prosthesis.
Persons: Luiz Inacio Lula da Silva, Lula, Giancarlo Polesello, Anthony Boadle, Aurora Ellis Organizations: Reuters, Libanes, United Locations: BRASILIA, United Arab Emirates, Alvorada
BRASILIA (Reuters) - Brazilian President Luiz Inacio Lula da Silva is clinically stable one day after hip surgery and has begun to walk in physiotherapy sessions, the Sirio-Libanes Hospital in Brazil's capital said on Saturday. Lula underwent surgery on Friday for arthrosis of the right hip caused by the extremely painful wear and tear of the cartilage on the head of the femur. His doctors expect him to remain in hospital until Tuesday when he will move to the presidential residence from where he will govern for three weeks as he recovers. The arthroplasty procedure, under general anesthetic, involved removing the head of the femur to implant a prosthesis. Lula will only resume presidential trips abroad at the end of November, when he plans to travel to the United Arab Emirates to attend the COP28 global climate meeting.
Persons: Luiz Inacio Lula da Silva, Lula, Giancarlo Polesello, Bernardo Caram, Nick Zieminski Organizations: Reuters, Libanes, United Locations: BRASILIA, Brazil's, United Arab Emirates
Lula admitted to Brasilia hospital for hip surgery
  + stars: | 2023-09-29 | by ( ) www.reuters.com   time to read: +2 min
Brazil's President Luiz Inacio Lula da Silva gestures during an inauguration ceremony of the new President of Supreme Court, Roberto Barroso, in Brasilia, Brazil September 28, 2023. REUTERS/Ueslei Marcelino/ File Photo Acquire Licensing RightsBRASILIA, Sept 29 (Reuters) - Brazilian President Luiz Inacio Lula da Silva was admitted to hospital on Friday to undergo surgery for hip arthrosis caused by wear and tear of the cartilage on the head of the femur that has caused him much pain in recent months. The two-hour surgery with general anesthetic is aimed at restoring the function of his right hip by arthroplasty, which involves removing the head of the femur to implant a prosthesis. While the surgery is not risky, 77-year-old Lula will remain in hospital until Tuesday and then spend three weeks at the presidential residence recovering. Lula said he put off the surgery because he wanted to take office first and lead the country back to normality after political turmoil under his predecessor, and recover Brazil's international standing.
Persons: Luiz Inacio Lula da Silva, Roberto Barroso, Ueslei Marcelino, Lula, Geraldo Alckmin, Anthony Boadle, Steven Grattan, Christina Fincher Organizations: Supreme, REUTERS, Rights, arthroplasty, United, Thomson Locations: Brasilia, Brazil, Rights BRASILIA, United Arab Emirates
The window to limit human-caused warming to a globally agreed goal is narrowing but still open because of the huge growth of solar energy and electric vehicles sales worldwide, a report said Tuesday. For the last two years, the rate of the build up of solar energy and electric vehicle sales were in line with achieving emissions reductions targets that will help cap warming to 1.5 degrees Celsius (2.7 degrees Fahrenheit) above pre-industrial levels, the Paris-based International Energy Agency said. Methane is a powerful greenhouse gas that is up to 80 times more potent than carbon dioxide in the short term. Investments in climate action also need to rise, from $1.8 trillion in 2023 to $4.5 trillion annually by the early 2030s, the report said. But carbon dioxide emissions from the energy sector — which includes the production of coal, oil and gas — remain worryingly high, reaching a new record of 37 gigatons last year.
Persons: , Fatih Birol, , Dave Jones, ” Jones Organizations: International Energy Agency, London, AP Locations: Paris, Ukraine, Dubai
The proportion of companies disclosing sustainability and ESG information was 63%, up from 56% last year. Breaking that down, a quarter of private companies don’t plan any ESG reporting, while only 7% of public companies felt the same. Six percent said they don’t yet report, but plan to, while another 7% don’t plan to. The picture looks quite different for private companies: 45% don’t report ESG information and more than half of those don’t plan to. The sustainability information respondents were most likely to publish was for employee diversity, equity and inclusion, at 47%.
Persons: Thomas R, , Maria Ghazal, David Breg Organizations: Street Journal, Regulators, U.S . Securities, Exchange, Sustainability, Board, Business, Nations, Global Reporting, Task Force, Business Roundtable’s, david.breg@wsj.com Locations: U.S
PinnedThe Times climate event will feature interviews and sessions with speakers including (clockwise from upper left) Ajay Banga, Robin Wall Kimmerer, Marie Kondo, Bill Gates, Michael R. Bloomberg and Ebony Twilley Martin. The Climate Forward live event is bringing together some of climate’s most vital newsmakers to share ideas, work through problems and answer tough questions about the threats presented by a rapidly warming planet. The former vice president noted that the United Nations had appointed a top oil executive, Sultan Ahmed al-Jaber of the United Arab Emirates, to lead this year’s global climate talks. “That’s just, like, taking the disguise off,” Mr. Gore said at The New York Times’s Climate Forward event in Manhattan. “It’s enough already.”Expert journalists from across The Times’s newsroom are providing critical analysis of the remarks by guests at the Climate Forward event, who include world leaders, activists, scientists and corporate executives.
Persons: Ajay Banga, Robin Wall Kimmerer, Marie Kondo, Bill Gates, Michael R, Ebony Twilley Martin, , Al Gore, Sultan Ahmed al, Jaber, “ That’s, ” Mr, Gore, “ They’ve, , We’ll, Bill Gates Bill Gates, Paul Allen, Melinda Gates, Ajay Banga Ajay Banga, David Malpass Organizations: Bloomberg, United Nations, United Arab, The, Microsoft, Melinda Gates Foundation, Energy, World Bank, Mastercard Locations: New York City, United Arab Emirates, York, Manhattan, Banga
[1/2] United Nations Secretary-General Antonio Guterres addresses the 78th Session of the U.N. General Assembly in New York City, U.S., September 19, 2023. The summit will feature speeches from leaders who are responding to his call to "accelerate" global climate action, including Brazil, Canada, the European Union, Pakistan, South Africa and Tuvalu. Guterres said one of the aims was to spur action from countries and companies whose climate plans were not in line with the global climate target. U.S. Special Envoy on Climate Change John Kerry will attend the summit but will not deliver a speech, a spokesperson said. China's mission to the United Nations and UAE did not immediately respond for comment.
Persons: Antonio Guterres, Brendan McDermid, General Antonio Guterres, Guterres, John Kerry, Selwin Hart, I'm, Valerie Volcovici, Stephen Coates Organizations: United Nations, General Assembly, REUTERS, Companies Allianz, UNITED, Ambition, United Arab Emirates, European Union, Allianz, World Bank, International Monetary Fund, California ., Reuters, UN, Assembly, UAE, Thomson Locations: New York City, U.S, China, United States, Brazil, Canada, Pakistan, South Africa, Tuvalu, London, California, California . U.S, Paris
U.S. President Joe Biden and Brazilian President Luiz Inacio Lula da Silva walk down the colonnade of the White House, in Washington, U.S. February 10, 2023. Andrew Caballero-Reynolds/Pool via REUTERS/File Photo Acquire Licensing RightsWASHINGTON, Sept 20 (Reuters) - U.S. President Joe Biden and Brazilian President Luiz Inacio Lula da Silva will launch an initiative on Wednesday to advance the rights of working people, a main focal point for both leaders, senior U.S. officials said. The U.S.-Brazil Partnership for Workers' Rights will be bilateral to start, but other countries and organizations will be encouraged to join, senior Biden administration officials said, without naming other possible participants. Biden and Lula will make an announcement when they have their second in-person meeting on Wednesday while in New York for the annual high-level United Nations General Assembly. But the official added that it was Brazil's sovereign right to engage in relationships with China and other countries.
Persons: Joe Biden, Luiz Inacio Lula da Silva, Andrew Caballero, Reynolds, Biden, Lula, Andrea Shalal, Lisandra, Grant McCool, Jonathan Oatis Organizations: White, Rights, U.S, Brazil Partnership, Workers, Biden, United Nations General Assembly, United Auto Workers, Ford, General Motors, Chrysler, Security, Thomson Locations: Washington , U.S, U.S, New York, United States, Brazil, States, China, Beijing, Washington, Haiti, Brasilia
Steven Cheung, a Trump spokesman, used expletives in calling Mr. DeSantis a “candidate that just steals from President Trump’s policy book” in a post on X, formerly known as Twitter, during the governor’s remarks. In a lengthy, six-pronged policy outline, Mr. DeSantis promised to remove subsidies for electric vehicles, take the U.S. out of global climate agreements — including the Paris accords — and cancel net-zero emission promises. He also vowed to increase American oil and natural gas production and “replace the phrase climate change with energy dominance” in policy guidance. His remarks — delivered above the sounds of heavy machinery — paired standard Republican energy policy, blasting foreign energy dependence and blue state regulations, with criticism of the Biden administration’s focus on reducing carbon emissions and incentivizing clean energy. The Biden campaign criticized Mr. DeSantis’s plan.
Persons: Steven Cheung, DeSantis, Trump’s, , George W, Bush, , Biden, DeSantis’s, ” Ammar Moussa, Mr, autoworkers Organizations: Trump, Twitter, , MAGA Republican Party, United Auto Workers Locations: Paris
NEW YORK (AP) — More than 30 Atlantic countries on four continents committed Monday to bolster coordination on economic development, environmental protection, maritime issues and more, the White House said. The adoption of the Declaration on Atlantic Cooperation was completed Monday evening at a meeting hosted by U.S. Secretary of State Antony Blinken ahead of the start of the annual U.N. General Assembly meeting. The White House pitched the forum as a way to improve cooperation between northern and southern Atlantic countries on key issues and come to agreement on a set of principles for the Atlantic region. The activists are pushing world leaders to act with greater haste to curb climate change. Many of the leaders of countries that cause the most heat-trapping carbon pollution will not be in attendance for this year's General Assembly.
Persons: Antony Blinken, ” Blinken, , Biden, Joe Biden, Antonio Guterres Organizations: Atlantic Cooperation, U.S, Atlantic, Partnership, White, Bank, General Assembly, U.N Locations: Atlantic, Africa, Europe, North America, South America, Angola, Argentina, Brazil, Cabo Verde, Canada, Costa Rica, Cote d’Ivoire, Dominica, Dominican Republic , Equatorial Guinea, Gabon, The Gambia, Ghana, Guatemala, Guinea, Guyana, Iceland, Ireland, Liberia, Mauritania, Morocco, Netherlands, Nigeria, Norway, Portugal, Republic of the Congo, Senegal, Spain, Togo, United Kingdom, United States, Uruguay, New York
Organizers of the protests expect global turnout over the weekend to total more than a million people. "This is directed at world leaders," said Mitzi Jonelle Tan, a climate activist with youth movement Fridays for Future in Manila, the Philippines. We need a just transition, and we need to phase out the fossil fuels causing the destruction of our environment," she told Reuters. The burning of fossil fuels is the main cause of climate change, but countries have never agreed in U.N. climate talks to phase out fossil fuels - though they have committed to phase down use of coal power. Despite having plentiful solar energy resources, Africa received only 2% of global investments in renewable energy over the last two decades, the International Renewable Energy Agency has said.
Persons: Greta Thunberg, Mitzi Jonelle Tan, Eric Njuguna, U.N, General Antonio Guterres, Kate Abnett, Katy Daigle, Aurora Ellis Organizations: United States, Organizers, Reuters, Governments, International Renewable Energy Agency, General Assembly, Thomson Locations: COP28, BRUSSELS, Pakistan, Nigeria, United, Swedish, Manila, Philippines, Nairobi, Kenya, U.N, Africa, New York
Romney, who was the 2012 GOP presidential nominee, has long been a rare member of the Republican party who has been an outspoken critic of Trump. He ran as the Republican Party nominee in the 2012 presidential race and lost to Barack Obama, who was then the Democratic incumbent. Donald Trump calls global warming a hoax, and President Biden offers feel-good solutions that make no difference to the global climate. On China, President Biden underinvests in the military and President Trump underinvests in our alliances,” he said. Senate Republican leader Mitch McConnell praised Romney in a statement reacting to the news.
Persons: Utah Republican Sen, Mitt Romney, , Joe Biden, Donald Trump, Romney, , Biden, Trump, Trump’s, ” Romney, I’m, McKay Coppins, Coppins, Josh Hawley, Ted Cruz, ’ ” Romney, Vance, ’ ” Coppins, acquit Trump, Democratic Sen, Joe Manchin, Barack Obama, Biden underinvests, Trump underinvests, Mitch McConnell, ” McConnell Organizations: CNN, Utah Republican, Senate, Republican, Biden, U.S . Senate, Democratic, Republican Party, Trump Locations: Utah, , States, U.S, West Virginia, Massachusetts, China
[1/5] FILE PHOTO-A drone picture shows where the former water line was more than one KM from the present line in Pretor, at Prespa Lake, North Macedonia September 6, 2023. The decline has continued over decades - the water at Lake Prespa, which is situated high in the mountains and is 5-million-years-old, is now more than 8 metres (8.74 yards) lower than the late 1970s. With a surface area of around 260 square kilometres, more than twice the size of Paris, more than two thirds of the lake belongs to North Macedonia and the rest to Greece and Albania. Any drop in water level can affect Lake Ohrid, a much larger lake just 10 km from Prespa and which draws around one third of its water from Prespa. "All (pesticides) go in the underground waters, in the lake, they go everywhere and are very dangerous for Prespa," said Mende Pandevski, harvesting plums close to the lake.
Persons: Vasilevski, Dragan Arsovski, Mende, Alexandra Hudson Organizations: NASA, The United Nations Development Program, Macedonian Geological Society, Alexandra Hudson Our, Thomson Locations: Pretor, Prespa, North Macedonia, Greece, Albania, Macedonia, Lake, Paris, Ohrid, Skopje
Romney Won’t Seek a Second Term in Senate
  + stars: | 2023-09-13 | by ( Susan Milligan | Sept. | At P.M. | ) www.usnews.com   time to read: +4 min
Neither President Biden nor former President Trump are leading their party to confront them," Romney said in his statement. Donald Trump calls global warming a hoax and President Biden offers feel-good solutions that will make no difference to the global climate. On China, President Biden underinvests in the military and President Trump underinvests in our alliances. Romney, his party's 2012 candidate for president, voted twice to convict Trump in the Senate after the House twice impeached the former president. When Romney was governor, he would speak often with Democratic Sen. Ted Kennedy – the man Romney unsuccessfully challenged for a Senate seat – to discuss Massachusetts priorities.
Persons: Donald Trump, Sen, Mitt Romney, Romney, he'd, , Joe Biden, Biden, Trump, Biden underinvests, Trump underinvests, Volodymyr Zelenskyy, ” Romney, Democratic Sen, Ted Kennedy –, Kevin McCarthy of, , we’re, ” Sen, Steve Daines Organizations: Republicans, Republican, Trump, Washington, Democratic, GOP, Senate, Biden, Democrat, Utah, National Republican Senatorial Locations: Utah, Democratic, Massachusetts, Russia, China, Congress, Kevin McCarthy of California, Montana
Berlin CNN —My 12-year-old son is cutting school on September 15 — an act of non-violent civil disobedience that his mother and I approve of entirely. Then-15-year-old Swedish student Greta Thunberg leads a school strike in Stockholm, 2018. Irish schools students demand immediate action on climate change during the "Global School Strike for Climate Action" march from St Stephen's Green to Leinster House in 2019. An array of climate activist groups surged in the slipstream of the global climate strikes, and now campaign on their own and together with it. The majority must mobilize and the global climate marches are one, high-profile, legitimate way to do it.
Persons: Paul Hockenos, , Paul Hockenos Hayyan, Greta Thunberg, Michael Campanella, Essien, ” They’ve, Stephen's Green, Artur Widak, Organizations: CNN, Berlin CNN, Leinster House, Deal, Biden, Future, Entrepreneurs for Future, Twitter, Facebook Locations: Berlin, Europe, New Berlin, Stockholm, Sweden, Montana, Stephen's, Germany, California, Greece
After a recent infusion of government money into technology that sucks carbon out of the air, big business is getting in as well. Amazon announced Tuesday that it will help fund the world's largest deployment of direct air capture (DAC) technology by purchasing a quarter of a million metric tons of carbon removal over the next decade from STRATOS, the first DAC plant from 1PointFive, a carbon removal technology company. The carbon that is removed through the air capture systems will then be stored underground in saline aquifers, which are large rock formations saturated in salt water. "With these two new investments in direct air capture, we aim to target emissions we can't otherwise eliminate at their source," Kara Hurst, Amazon's VP of worldwide sustainability, said in a release. Amazon's announcement comes on the heels of Microsoft 's news that it has agreed to buy carbon credits from California-based startup Heirloom Carbon, which uses limestone to remove carbon from the atmosphere.
Persons: Kara Hurst, Amazon's, We're, Brian Marrs, Microsoft's, Hurst Organizations: Amazon, STRATOS, CarbonCapture, Microsoft, U.S . Department of Energy, Law Locations: 1PointFive, CarbonCapture Inc, California, Paris
Three more bodies found after Greece storm, raising toll to 14
  + stars: | 2023-09-10 | by ( ) www.reuters.com   time to read: +2 min
[1/5] Locals are evacuated on an excavator from a flooded area, in the aftermath of Storm Daniel, in Larissa, Greece, September 10, 2023. REUTERS/Elias Marcou Acquire Licensing RightsATHENS, Sept 10 (Reuters) - Greek rescue teams recovered the bodies of three more people in central Greece on Sunday, raising the death toll to 14 from the country's most intense rain storm since records began in 1930. Storm Daniel pummelled Greece for three days from Tuesday at the end of the hottest summer ever recorded, leaving a fresh trail of ruin after deadly wildfires. The bodies of an 88-year-old woman and two men, aged 58 and 65, were found near the city of Karditsa, one of the worst-hit areas. Extreme weather events have struck across the globe in recent weeks, with floods in Scandinavia, southeast Europe and Hong Kong.
Persons: Storm Daniel, Elias Marcou, Storm Daniel pummelled Greece, Kyriakos Mitsotakis, Renee Maltezou, Peter Graff Organizations: REUTERS, Rights, Thomson Locations: Larissa, Greece, Karditsa, Thessaly, Scandinavia, Europe, Hong Kong, India
NEW DELHI (AP) — G20 leaders agreed Saturday to triple renewable energy and try to increase the funds for climate change-related disasters but maintained the status quo with regards to phasing out carbon spewing coal. Even at the last meeting of the G20 climate ministers before the summit, disagreements had remained. Global leaders and climate experts say the declaration had largely taken the conversation forward, setting the stage for an ambitious climate agreement when they meet at the global climate conference, COP28, in Dubai later this year. For the first time, the G20 countries agreed on the amounts required to shift to clean energy. “However, it’s disappointing that the G20 could not agree on phasing down fossil fuels.”"Increasing renewables and reducing fossil fuels need to necessarily happen together – we need stronger bolder action from leaders on both.
Persons: Amitabh Kant, al, Jaber, , Harjeet Singh, Singh, Madhura Joshi Organizations: DELHI, Indian, Global, Climate Action, Global Energy Monitor, AP Locations: Dubai, Mumbai
Eight years after world leaders approved a landmark agreement in Paris to fight climate change, countries have made only limited progress in staving off the most dangerous effects of global warming, according to the first official report card on the global climate treaty. Many of the worst-case climate change scenarios that were much feared in the early 2010s look far less likely today, the report said. The authors partly credit the 2015 Paris Agreement, under which, for the first time, almost every country agreed to submit a voluntary plan to curb its own planet-warming emissions. Under the Paris Agreement, countries vowed to limit the rise in average global temperatures to “well below” 2 degrees Celsius, or 3.6 Fahrenheit, above preindustrial levels and make a good-faith effort to stay at 1.5 degrees Celsius. Earth has already heated up roughly 1.2 degrees Celsius since preindustrial times.
Locations: Paris, staving, United States, South Africa
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