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Factbox: US offshore wind projects facing inflation headwinds
  + stars: | 2023-09-11 | by ( ) www.reuters.com   time to read: +10 min
One megawatt (MW) can power about 1,000 U.S. homes but since wind is an intermittent resource - 1 MW of offshore wind can power about 500 U.S. homes, according to offshore wind developers. SOUTH FORKDenmark's Orsted (ORSTED.CO), the world's largest offshore wind power developer, is building the 132-MW project off Rhode Island and Massachusetts. COMMONWEALTH WINDThe 1,232-MW project off Massachusetts, which was formerly a part of the larger New England Wind project, is also facing potential delays. ATLANTIC SHORES OFFSHORE WIND SOUTHThe joint venture between Shell and French EDF is developing a large offshore wind park off New Jersey. MARWINMaryland's first offshore wind project is expected to start operations in 2025-2026.
Persons: Joe Biden, Kevin Lamarque, Joe Biden's, GW, Lazard, Vineyard, Orsted, Eversource, NYSERDA, Norway's Equinor, Avangrid, MARWIN, Nerijus Adomaitis, Nichola Groom, Scott DiSavino, Marguerita Choy Organizations: Federal, State, White, REUTERS, U.S, U.S . Department of Energy, Reuters, Washington , D.C, U.S . Energy Information Administration, Avangrid, Copenhagen Infrastructure Partners, Public Service Enterprise, Orsted, Eversource Energy, Rhode Island Energy, Dominion Energy, Virginia Beach, Dominion, NYSERDA, COMMONWEALTH, Shell, EDF, US, Italy's Renexia SpA, US Wind, Thomson Locations: Washington , U.S, U.S, New England, New York, Pennsylvania, Washington ,, Spanish, Copenhagen, Rhode Island and Massachusetts, New Jersey, Rhode, Connecticut, Orsted, VIRGINIA, Virginia, York, Long, Montauk, Massachusetts, French, ATLANTIC, Atlantic Shores, Italy's Renexia, Maryland
The 10-year U.S. Treasury yield rose Monday as investors awaited key economic data due this week that could provide additional clues about the outlook for interest rates. The yield on the 10-year Treasury was up by four basis points to 4.298%. The 2-year Treasury yield was last trading about flat at 4.993%. Fed futures put the chance of the Fed staying put on Sep. 20 at 93% following the report, according to the CME FedWatch tool. Whether the Fed hikes again this year is up in the air, the WSJ report said.
Organizations: Treasury, Street, Federal Reserve
A Russian mercenary group listed equipment failings that troops are suffering on the front line. The group, known as Rusich, said soldiers were buying their own communications equipment. The report didn't specify what kinds of communications technology Russian troops were buying, but there have long been reports that Russian soldiers lack the equipment to communicate effectively and so use cell phones or their own radio systems. "High-precision ammunition, communications equipment, drones etc... We have them, but unfortunately, there is not enough." The problem has persisted despite a ban last year on Russian forces using cell phones on the front line.
Persons: Serhii Mykhalchuk, Vladimir Putin Organizations: Service, Ukraine Ukrainian, Rusich, Kremlin, Army Technology Locations: Russian, Russia, Wall, Silicon, Ukraine, Washington, DC, Nazi Russian, Makiivka, Finland
Alibaba — Shares lost 1% after outgoing CEO Daniel Zhang unexpectedly quit its cloud business. In June, the company had said Zhang was leaving as chairman and CEO of Alibaba Group to focus on the cloud intelligence unit. Qualcomm — The semiconductor stock jumped 7.4% premarket after saying Monday it will supply Apple with 5G modems for smartphones through 2026. The Wall Street firm said the slide in the Band-Aid maker has created an attractive entry point. The Wall Street firm called software and services revenue the "biggest value driver" for Tesla.
Persons: Alibaba —, Daniel Zhang, Zhang, Tesla, Morgan Stanley, , Smucker, Alex Harring, Hakyung Kim, Michelle Fox Theobald, Samantha Subin, Sarah Min, Kif Leswing Organizations: Tenable Holdings, JPMorgan, Alibaba Group, Qualcomm, Apple, Deutsche Bank, Oracle, Hostess Brands, Meta, Wall Street
Smucker 's plan to buy Twinkies -maker Hostess Brands is a risky move, if Morgan Stanley's latest research is correct. The firm revisited its August call that a new class of weight loss medications would hamper growth at some food and beverage companies . "Across our coverage, Numerator Insights data highlight that most center-store packaged food companies slightly over-index to consumers with obesity," Kaufman said. Hostess stock soared 19% on the news. Other food stocks with higher exposure to customers with obesity include Conagra , Kraft Heinz and Smucker, the report said, citing the Numerator data.
Persons: Smucker, Morgan Stanley's, Ding Dongs, Morgan Stanley, Pamela Kaufman, Atkins, Nordisk's Wegovy, Kaufman, Kraft Heinz, — CNBC's Michael Bloom Organizations: Hostess Brands, Centers for Disease Control, Nordisk's Locations: U.S, GLP
Taliban soldiers celebrate on the second anniversary of the fall of Kabul on a street near the US embassy in Kabul, Afghanistan, August 15, 2023. REUTERS/Ali Khara/File Photo Acquire Licensing RightsSept 10 (Reuters) - Methamphetamine trafficking in and around Afghanistan has surged in recent years, even as the Taliban has curbed heroin trafficking since taking power, a United Nations report said on Sunday. The Taliban, which regained power in August 2021, announced a ban the following April on the production of narcotics in Afghanistan, the world's main opium producer. While heroin trafficking has slowed, the UNODC said in a statement, meth trafficking "has intensified since the ban". Countries as far away as France and Australia have reported seizing methamphetamine that likely originated in Afghanistan it said.
Persons: Ali Khara, Ghada Waly, Charlotte Greenfield, William Mallard Organizations: REUTERS, United, Drugs, Thomson Locations: Kabul, Afghanistan, United Nations, Iran, Pakistan, France, Australia
More Chinese companies are becoming global players. In all, BYD, state-owned SAIC and other Chinese companies gained 9% of the global electric car market in the second quarter, up from 5% in the second quarter, Counterpoint Research said. That's on top of the companies' share in the domestic Chinese market — the largest globally for autos. For the full year, XCMG has an export sales growth target of 50% growth, UBS stock analyst Phyllis Wang and a team said in a Sept. 4 note. Chinese companies have been trying to "go global" for years, with tacit encouragement from Beijing.
Persons: Lei Meng, That's, Xiao Feng, BYD, UBS's Meng, XCMG, Phyllis Wang, Mingyang, JPMorgan's Helen Zhu, — CNBC's Michael Bloom Organizations: Car, UBS Securities, China Equity, SAIC, Research, Hong, Toyota, General Motors, Britannica ., Xuzhou Construction Machinery, Central, UBS, Beijing ., JPMorgan Locations: Hong Kong, Britannica, China, Shenzhen, Xuzhou, West Asia, North Africa, Central America, Europe, Central Asia, North America, Beijing, Beijing . State, Shanghai
A 0.25 mg injection pen of Novo Nordisk's weight-loss drug Wegovy is shown in this photo illustration in Oslo, Norway, August31, 2023. Studies have demonstrated more weight loss than with Wegovy. Novo's type 2 diabetes drug Ozempic has been on the market in Britain since 2019. A Lilly spokesperson declined to comment on Wegovy's launch or when exactly it would launch Mounjaro for diabetes treatment. Studies have shown that, used alongside exercise and lifestyle changes, Wegovy led to 15% weight loss over 68 weeks, while Mounjaro led to more than 22% over 72 weeks.
Persons: Victoria Klesty, Eli Lilly's, Wegovy, Lars Fruergaard Jorgensen, Novo, Lilly, Mounjaro, Ozempic, Eli Lilly, Maggie Fick, Alexander Smith, Catherine Evans Organizations: REUTERS, Wegovy, Economic Co, Development, Reuters, National Health Service, stoke, NHS, Britain's Department of Health, Social Care, Diabetes, UBS, Novo, Thomson Locations: Oslo, Norway, August31, Victoria, Britain, British, Danish, United States, Denmark, Germany, Europe, England
The grocery delivery company Instacart is aiming to go public at a valuation between $8.6 billion and $9.3 billion, according to reports. Instacart is expected to officially disclose its expected valuation range on Monday, a person familiar with the matter told Reuters. As public stocks dipped around March of last year, Instacart cut its valuation from $39 billion to $24 billion. According to the company, Instacart shoppers and drivers deliver goods in over 14,000 cities from more than 80,000 grocers and other stores. The grocery delivery service will join other gig economy companies like Uber , Airbnb , Lyft and DoorDash on the public market.
Persons: Instacart, haven't, Japan's SoftBank, Uber, Goldman Sachs, CNBC's Hayden Field Organizations: Reuters, Nasdaq Locations: Instacart
ISLAMABAD (AP) — Afghanistan is the world’s fastest-growing maker of methamphetamine, a report from the United Nations drug agency said Sunday. The report called Afghanistan’s meth manufacturing a growing threat to national and regional health and security because it could disrupt the synthetic drug market and fuel addiction. It said seizures of meth suspected to have come from Afghanistan have been reported from the European Union and east Africa. Afghanistan also has the ephedra plant, which is not found in the biggest meth-producing countries: Myanmar and Mexico. But you need a lot of it.”Me said it was too early to assess what impact the Taliban’s drug crackdown has had on meth supplies.
Persons: Angela Me, , Abdul Mateen Qani, Organizations: United, Taliban, United Nations ’ Office, Drugs, European Union, Associated Press, Interior Ministry, AP, Farmers Locations: ISLAMABAD, Afghanistan, United Nations, Africa, Myanmar, Mexico, Afghan
In this article LLYNOVO.B-DK Follow your favorite stocks CREATE FREE ACCOUNTOzempic drug to treat diabetes. Since Wegovy and Mounjaro have been on the market, "neither company can make the drug fast enough," she said. The Food and Drug Administration approved Ozempic in 2017 for diabetes and Wegovy in 2021 to treat obesity. Mounjaro, introduced in 2022 to treat diabetes, contains GLP-1, plus GIP, a similar appetite suppressor that can lead to weight loss. Coverage for Mounjaro ($1,023 per month) to treat diabetes varies based on an individual's insurance plan and drug benefits.
Persons: Eli Lilly, Novo's, Lilly's, Emily Field, Lilly, David Ricks, CNBC's Jim Cramer, Ozempic, Novo, Mounjaro, George Frey, Lars Fruergaard Jorgensen, Wajahat Mehal, Tom Carper, Bill Cassidy of, We've, Camilla Sylvest, there's, Sylvest, Cowen, What's, It's, Mike Mason, Amgen, Emmanuel Papadakis Organizations: Novo Nordisk, Pfizer, Amgen, Barclays, Nordisk, Drug Administration, Mounjaro, SVB Securities, Food and Drug Administration, Pharmacy, Reuters Novo, Novo, Wegovy, European Union, Medicare, Yale School, Metabolic, Congressional Black Caucus, CDC, pharma, American Medical Association, , Big Pharma, American Diabetes Association, Deutsche Bank Locations: Lilly, Denmark, Provo , Utah, U.S, European, Delaware, Bill Cassidy of Louisiana, Novo, Kalundborg, Hillerød, Boone County , Indiana
As the death toll from the powerful earthquake in Morocco rose on Saturday, questions mounted about the vulnerability of buildings in the seismically active North African country. Moroccan architects said that the hardest-hit areas were rural zones with many earthen houses that were unable to withstand the shaking. “Given the state of the buildings in the country, this death toll was kind of expected,” said Anass Amazirh, an architect in the northern city of Casablanca. Image Rescue workers searching for survivors in a collapsed house in Moulay Brahim, in Morocco’s Al Haouz Province, on Saturday. “These more extreme risks occur regularly in other countries,” the report said, “and Morocco cannot avoid taking them into account.”
Persons: , , Anass Amazirh, Omar Farkhani, Fadel Senna, Mr, Farkhani, Al Hoceima, Al, Haouz, Amazirh Organizations: Morocco’s, of Architects, ., Agence France, Moroccan, Organization for Economic Cooperation, Development Locations: Marrakesh, Morocco, Moroccan, Casablanca, Al Haouz, Moulay Brahim, Morocco’s Al Haouz Province, Al, Al Hoceima,
BANGKOK (AP) — One of Myanmar’s biggest and most powerful ethnic minority militias has arrested and repatriated more than 1,200 Chinese nationals allegedly involved in criminal online scam operations, an official of the group said Saturday. The arrests were carried out in territory controlled by the United Wa State Army, or UWSA, in eastern Shan state in raids on Tuesday and Wednesday, Nyi Rang, a liaison officer from the militia, told The Associated Press. The United Wa State Army is the biggest and strongest ethnic armed organization among the major ethnic minority groups in Myanmar, with an army of approximately 30,000 well-equipped soldiers and sophisticated weaponry including heavy artillery and helicopters, from China, with which it maintains close relations. The U.N. report about Southeast Asian cybercrime said the online fraud gangs were also active in southeastern Kayin state on the Thai border. The complexes were developed by Chinese investors in cooperation with the local Border Guard Forces, which are militias affiliated with Myanmar’s army.
Persons: Nyi Rang, , Wa, Aung, Suu Kyi, Chen Hai, cybercrime, Shwe Kokko Organizations: Myanmar’s, United Wa State Army, Associated Press, Human Rights, United Wa State Party, Beijing’s Ministry of Public Security, Foreign, Border Guard Forces Locations: BANGKOK, Shan, Wa, Yunnan province, Asia, Southeast Asia, Myanmar, Cambodia, Kayin, Mong, China, Thailand, Suu, Thai, Shwe, Myawaddy
A shopper is seen without a mask after leaving a Walmart store in Bradford, Pennsylvania, U.S. July 20, 2020. REUTERS/Brendan McDermid Acquire Licensing RightsSept 8 (Reuters) - Walmart Inc (WMT.N) is exploring buying a majority stake in ChenMed, a closely held operator of primary care clinics for seniors, Bloomberg News reported on Friday. The companies are in talks for a deal that would value ChenMed at several billion dollars, Bloomberg reported, citing people familiar with the matter. A deal could still be weeks away, the report said, adding that the terms are not finalized and talks could still fall apart. Walmart and ChenMed did not immediately respond to Reuters requests for comment.
Persons: Brendan McDermid, ChenMed, Nilutpal, Will Dunham Organizations: Walmart, REUTERS, Walmart Inc, Bloomberg, Thomson Locations: Bradford , Pennsylvania, U.S, ChenMed, Bengaluru
A higher share of managers are looking for new roles than non-managers, Gallup found. This comes at a time when, overall, managers are experiencing higher levels of burnout and disengagement than their staff, the Gallup post said. "For many managers, they are being asked to communicate and enforce requirements that they personally may not prefer." AdvertisementAdvertisementAdditionally, compared to their staff, managers are more likely to be looking for a job, Gallup found. Managers are also more likely to feel like their organization cares little about their wellbeing, Gallup found.
Persons: Gallup, Gallup's Heather Barrett, Nela Richardson, Richardson, Heather Barrett, Barrett, Organizations: Service, Gallup, Fortune, Companies, ADP, ADP Research Institute, ADP Research Locations: Wall, Silicon
(Reuters) - Maldives opposition candidate Mohamed Muizzu has edged ahead in the results announced so far in the first round of the country's presidential election race, local media reported on Saturday. Muizzu had received 46% of the votes counted to get ahead of his rival, the report said. The presidential election can run to two rounds. If no candidate gets a majority in the first round, there will be a run-off which is scheduled for Sept. 30. (Reporting by Jyoti Narayan in Bengaluru; Editing by Alexander Smith)
Persons: Mohamed Muizzu, Muizzu, Jyoti Narayan, Alexander Smith Organizations: Reuters Locations: Maldives, Bengaluru
Azerbaijan said on Saturday that Armenian forces had fired on its troops overnight, and that Azerbaijan army units took "retaliatory measures". Azerbaijan's foreign ministry called the ethnic Armenian leadership of Karabakh a "puppet separatist regime" and said the vote was illegal. Both Ukraine and Baku's traditional ally Turkey condemned the election, and expressed support for Azerbaijan's claim to Karabakh. In the capitals of both Armenia and Azerbaijan, residents told Reuters they feared a new war between the two countries. In Armenia's capital Yerevan, a local resident who gave his name as Hayk accused Azerbaijan of wanting to start another war.
Persons: Artem Mikryukov, Baku, Armenia's, Armenpress, Ilham Aliyev, Nikol Pashinyan, Antony Blinken, Yuri Kim, Pashinyan, Samvel Shahramanyan, Shahramanyan, Mansura Lahicova, Mark Trevelyan, Felix, Felix Light, Ros Russell, Peter Graff Organizations: REUTERS, International Committee, Reuters, Karabakh, U.S, U.S . State Department, Thomson Locations: Taghavard, Nagorno, Karabakh, Azerbaijan, Armenia TBILISI, Baku, Armenia, Askeran, Russian, Soviet Union, Yerevan, France, Germany, Iran, Georgia, U.S, Turkey, Russia, Moscow, Reuters Baku, Ukraine, Armenia's, Tbilisi
The US is leaning towards sending Ukraine the ATACMS long-range missile, per a new report. ATACMS — a shortening of Army Tactical Missile System — has been one of Ukraine's most pressing requests, because its long range would open up Russian targets too distant to easily attack. The ATACMS is a long-range guided missile with a range of around 300 kilometers, or 190 miles, per its manufacturer Lockheed Martin. The "ATACMS' pinpoint accuracy helps minimize collateral damage," Jim Gribschaw, a director at Lockheed Martin said of the missile. US Army photoThe US had initially been reluctant to provide the missile system.
Persons: Lockheed Martin, Ryan Hageali, Jim Gribschaw, Ben Hodges, Jake Sullivan, Biden, Abrams Organizations: Service, ATACMS, ABC News, Tactical Missile, Lockheed, MGM, Tactical Missile System, US Marine Corps, TNT, US Army, National Locations: Ukraine, Wall, Silicon, Russia, Australia, Northern Territory, US, Iraq
REUTERS/Lindsay DeDario/File Photo Acquire Licensing RightsSept 8 (Reuters) - A Georgia grand jury recommended criminal charges against Republican U.S. The six were among 39 people the special grand jury recommended charging in its Dec. 15 report, which had been sealed for nine months. Wood, a conservative lawyer who promoted conspiracy efforts about the election, denied wrongdoing and said he was surprised to find out the special grand jury recommended charges against him. The grand jury voted 20-1 in favor of indicting Trump with respect to the national effort to overturn the election. The special grand jury report remained secret at Willis's request while she determined what charges to bring.
Persons: Donald Trump, Lindsay DeDario, Lindsey Graham, Trump's, Graham, Kelly Loeffler, David Perdue, Michael Flynn, Boris Epshteyn, Lin Wood, Cleta Mitchell, Fani Willis, Willis, Trump, Loeffler, Perdue, Flynn, Epshteyn, Wood, Mitchell, Rudy Giuliani, Brian Kemp, indicting Graham, indicting Trump, Robert McBurney, Andrew Goudsward, Jasper Ward, Sarah N, Lynch, Makini Brice, Joseph Ax, Andy Sullivan, Noeleen Walder, Howard Goller Organizations: U.S, Republican, REUTERS, Republican U.S, Trump, Trump's, Supreme, Trump loyalists, Democratic, Reuters, Biden, Thomson Locations: Erie , Pennsylvania, U.S, Georgia, South Carolina, Fulton County, Jasper
As war grinds on, HSBC halts Russia payments
  + stars: | 2023-09-08 | by ( Iain Withers | ) www.reuters.com   time to read: +2 min
HSBC Bank logo is seen in this illustration taken March 12, 2023. "We have therefore reached the decision to restrict commercial payments by our corporate entity customers to or from Russia and Belarus through HSBC," a HSBC spokesperson said. Business customers have been informed the bank no longer intends to process the payments, the spokesperson added, rolling out globally from this month. HSBC has announced an exit from Russia, but the planned sale of its unit to local lender Expobank has hit delays and is pending final regulatory approval. The United States has pushed for harsher action against banks with Russia links, while China in contrast has deepened economic ties with Russia.
Persons: Dado Ruvic, Expobank, Iain Withers, John O'Donnell, Philippa Fletcher Organizations: HSBC Bank, REUTERS, HSBC, Belarus, Business, Nikkei, SWIFT, Raiffeisen Bank, United, Thomson Locations: Russia, Belarus, Ukraine, Europe's, China, United States, Hong Kong, Moscow, Europe, Russian
In U.S.-China AI contest, the race is on to deploy killer robots
  + stars: | 2023-09-08 | by ( ) www.reuters.com   time to read: +26 min
In this high-tech contest, seizing the upper hand across fields including AI and autonomous weapons, like Ghost Shark, could determine who comes out on top. This could become critical if the United States intervened against an assault by Beijing on Taiwan. Cheap and expendableThe AI military sector is dominated by software, an industry where change comes fast. Still, the available disclosures of spending on AI military research do show that outlays on AI and machine learning grew sharply in the decade from 2010. The Costa-Mesa, California-based company now employs more than 1,800 staff in the United States, the United Kingdom and Australia.
Persons: America’s, Shane Arnott, Anduril, ” Arnott, Arnott, , , Mick Ryan, Eric Schmidt, hasn’t, Lloyd Austin, , Stuart Russell, Russell, Kathleen Hicks, “ We’ll, Palmer Luckey, Luckey, ” Arnott didn’t, Biden, Tsai Ing, Frank Kendall, Datenna, Martijn Rasser, Feng Yanghe, Feng, Palmer, ” Anduril, Arnott wouldn’t, David Lague, Edgar Su, Catherine Tai, Peter Hirschberg Organizations: Australian Navy, Ghost Sharks, Sharks, Reuters, Defense, Australian, Chinese Communist Party, Beijing, People’s Liberation Army, PLA, Department of Defense, Pentagon, Australia’s Department of Defence, Australian Defence Force, Technologists, University of California, U.S ., U.S, Teledyne FLIR, Facebook, VR, Military, . Air Force, FH, U.S . Central Intelligence Agency, Department, Statistics, Harvard University, Biden Administration, Special, Command, Ministry of Defense, Veteran Locations: China, Australia, United States, Sydney, Britain, Japan, Singapore, South Korea, Europe, Asia, Ukraine, , America, U.S, Taiwan, East Asia, Beijing, Russian, Berkeley, Fort Campbell , Tennessee, Kenya, , Russia, Colorado, Zhuhai, Netherlands, Costa, Mesa , California, United Kingdom, Virginia, Canberra, Washington
And it said Ukrainian troops were making gradual progress in their southward advance to the Sea of Azov. Russian accounts of the fighting said their troops had beaten back Ukrainian attacks near Bakhmut. Ukraine began its counteroffensive in June and has focused on retaking Bakhmut, seized by Russian troops in May, and capturing clusters of villages in the south. They face Russian troops that are well dug in and have benefited from extensive mining operations. Deputy Defence Minister Hanna Maliar told national television that Ukrainian forces were pressing their drive near southward from the village of Robotyne, captured last week.
Persons: Volodymyr Zelenskyi, Volodymyr Zelenskiy, Antony Blinken, Zelenskiy, Hanna Maliar, Maliar, Nick Starkov, Ron Popeski, Grant McCool Organizations: Presidential Press Service, REUTERS Acquire, Reuters, Ukraine, Azov, Military, Russia's Defence Ministry, Thomson Locations: Bakhmut, Ukraine, Donetsk region, Azov, Kyiv, Zelenskiy, Mariupol, Robotyne, Russia, Klishchiivka
But aerial, land and underwater robots, teamed with humans, are poised to play a major role in warfare. Evidence of such change is already emerging from the war in Ukraine. There, even rudimentary teams of humans and machines operating without significant artificial-intelligence powered autonomy are reshaping the battlefield. Simple, remotely piloted drones have greatly improved the lethality of artillery, rockets and missiles in Ukraine, according to military analysts who study the conflict. Both Russian and Ukrainian forces are integrating traditional weapons with AI, satellite imaging and communications, as well as smart and loitering munitions, according to a May report from the Special Competitive Studies Project, a non-partisan U.S. panel of experts.
Persons: Leah Millis, Kathleen Hicks, , Mick Ryan, David Lague, Peter Hirschberg Organizations: 58th Independent Motorized Infantry Brigade, Ukrainian Army, REUTERS, Rights, Reuters, Australian, Thomson Locations: Ukraine, Bakhmut, U.S, Washington
The fight to secure a livable future for everyone on Earth requires much more urgent climate action — and only transformational changes will be enough to get back on track. That was the sobering assessment from the technical dialogue of the United Nations' first-ever "global stocktake," a critically important process which looks at what countries have done to prevent a climate catastrophe. The overarching synthesis report, published Friday, lays the foundation for the upcoming COP28 climate conference in the United Arab Emirates later this year. "There is a rapidly closing window of opportunity to secure a liveable and sustainable future for all." The U.N.'s global stocktake was designed under the Paris Agreement as part of a global effort to accelerate climate action.
Organizations: United Nations, United Arab Locations: Farkadona, Karditsa, Greece, United Arab Emirates, Dubai, Paris, COP28
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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