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☆ COP29 host Azerbaijan hits out at West in defense of oil and gas
▼ + stars: | 2024-11-13 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms | ) www.nbcnews.com time to read: +5 min

The president of Azerbaijan, host of this year’s U.N. climate summit, lashed out at Western critics of his country’s oil and gas industry on Tuesday. Azerbaijan’s finance ministry said the share of oil and gas as a contribution to the economy was declining as the country diversifies. The people need them.”He singled out the United States, the world’s largest historic carbon emitter, and the European Union for particular criticism, accusing them of double standards. The United States is the world’s largest oil and gas producer. Aiming to cut methane emissions from the United States, President Joe Biden’s administration on Tuesday finalized a methane fee for big oil and gas producers.

Persons: Ilham Aliyev, General Antonio Guterres, ”, Aliyev, bode, Romain Ioualalen, Harjeet Singh, Ali Zaidi, Joe Biden’s, Donald Trump, ” Guterres, Mia Mottley Organizations: European Union, Observers, Shell, World Bank Locations: Azerbaijan, United States, Ukraine, California, New York, Spain, Barbados

☆ Triller is finally a public company after years of false starts. Here's its pitch to investors.
▼ + stars: | 2024-10-16 | by ( Dan Whateley | ) www.businessinsider.com time to read: +6 min

The creator and marketing company Triller is finally trading on the Nasdaq under the ticker ILLR. The company went public via a reverse merger with a Hong Kong-based company called AGBA. A reverse merger occurs when a private company goes public by acquiring a publicly listed company. That didn't come to fruition, and in December 2021, the company announced plans to complete a reverse merger with a company called Seachange International. Creators, brands, and consumers are the main cohorts that AGBA touts as central to Triller's business in its recent filings.

Persons: Triller, —, TikTok —, It's, Julius, AGBA, Triller's, Mike Lu, Lu Organizations: Nasdaq, Service, AGBA, Holding, Clubhouse Media, Reuters, Seachange, SEC, Big Tech, AGBA's, Facebook, YouTube, Business, Billboard Locations: Hong Kong, buzzy

☆ 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

U.S Secretary of State Antony Blinken speaks during the Transforming Food Systems in the Face of Climate Change event on the sidelines of the COP28 climate summit at Dubai Expo, in Dubai, United Arab Emirates December 1, 2023. SAUL LOEB/Pool via REUTERS Acquire Licensing RightsSummary COP 'side deals' have boomed in recent yearsVoluntary climate pledges yield mixed resultsSome have led to tougher CO2-cutting policiesDUBAI, Dec 2 (Reuters) - While the world's climate diplomats huddle over draft decisions to be made at the end of this year's U.N. climate summit, governments at COP28 are firing off a flurry of new promises for action. Among the expected pledges at COP28 are a goal to triple renewable energy capacity and initiatives on methane and coal power. These voluntary side deals have proliferated in recent years, even as global temperatures and greenhouse gas emissions continue to rise. "They go much further than what you can do multilaterally," said Marc Vanheukelen, a former EU official who led the bloc's work on an international methane emissions pledge launched at the COP26 climate summit in 2021.

Persons: Antony Blinken, SAUL LOEB, Marc Vanheukelen, Jonathan Banks, Laurie van der, OCI, It's, Erin Matson, Luiz Inácio Lula da Silva, Matson, Kate Abnett, Tommy Wilkes, Katy Daigle, Jon Boyle Organizations: Food Systems, United Arab Emirates, REUTERS Acquire, EU, Global, Air Task Force, Reuters, Bank, U.S, Change, WWF, Rainforest Alliance, Climate, Thomson Locations: Dubai, United Arab, DUBAI, COP28, Glasgow, U.S, Nigeria, Canada, The U.S, China, Russia, COP26, Britain, France, United States, Italy, Germany, Brazil

☆ COP28 Lines up New Climate Pledges - but Do They Work?
▼ + stars: | 2023-12-01 | by ( Dec. | At P.M. | ) www.usnews.com time to read: +5 min

By Kate AbnettDUBAI (Reuters) - While the world's climate diplomats huddle over draft decisions to be made at the end of this year's U.N. climate summit, governments at COP28 are firing off a flurry of new promises for action. Among the expected pledges at COP28 are a goal to triple renewable energy capacity and initiatives on methane and coal power. These voluntary side deals have proliferated in recent years, even as global temperatures and greenhouse gas emissions continue to rise. Unlike official summit decisions, which must be passed by consensus among the nearly 200 countries, voluntary pledges can be made quickly, and boldly, without the worry of one party objecting. "They go much further than what you can do multilaterally," said Marc Vanheukelen, a former EU official who led the bloc's work on an international methane emissions pledge launched at the COP26 climate summit in 2021.

Persons: Kate Abnett DUBAI, Marc Vanheukelen, Jonathan Banks, Laurie van der, OCI, It's, Erin Matson, Luiz Inácio Lula da Silva, Matson, Kate Abnett, Tommy Wilkes, Katy Daigle, Jon Boyle Organizations: Reuters, EU, Global, Air Task Force, Bank, U.S, Change, WWF, Rainforest Alliance, Climate Locations: COP28, Glasgow, U.S, Nigeria, Canada, The U.S, China, Russia, COP26, Britain, France, United States, Italy, Germany, Brazil

☆ ‘Backtracking:’ A year of climate failures ahead of a crucial summit
▼ + stars: | 2023-11-30 | by ( Laura Paddison | ) edition.cnn.com time to read: +11 min

And yet, even as the climate crisis inserts itself viscerally into people’s lives, experts say the year has seen alarming backsliding on climate action. Green policies have been watered down, huge new oil and gas projects have been greenlit and coal has had something of a resurgence. As countries gather in Dubai for the UN’s COP28 climate summit, there are “high expectations,” said Harjeet Singh, the head of global political strategy at nonprofit Climate Action Network International. It sent worrying signals about climate backtracking, said Elisa Giannelli, a senior policy advisor at climate think tank E3G. Around 50% of its total capital spending needs to go toward clean energy projects by 2030, according to the report.

Persons: ”, Harjeet Singh, Kaveh Guilanpour, Singh, Biden, “, Erik Grafe, Joe Biden, Countess, Norway —, Elisa Giannelli, “ It’s, Rishi Sunak, Joeri Rogelj, Flora Champenois, It’s, Bernd Lauter, ” Rogelj, Darren Woods, Bernard Looney, Fatih Birol, Guilanpour, Claire Fyson, ” Fyson, “ we’re, ” CNN’s Ella Nilsen, Ivana Kottasová, Gan Organizations: CNN, United Nations, Action, “, Climate, Energy Solutions, US Department of Interior, Imperial College London, Global Energy Monitor, GEM, Getty, BP, Chevron, ExxonMobil, Shell, Exxon, IEA, Climate Analytics Locations: Canada, Libyan, Dubai, Alaska, Washington ,, Australia, Norway, Europe, Germany, China, Asia, Ukraine, Eschweiler, COP28

WASHINGTON, Sept 18 (Reuters) - With the world on track to break the record for the hottest year in history, world leaders, business leaders, celebrities and activists have converged on midtown Manhattan for Climate Week and the U.N.'s Climate Action Summit, again focusing the world's attention on the climate crisis. As of Monday, the U.N. had not announced which world leaders or officials would get one of the coveted speaking slots at the climate summit. "It is disheartening to witness the lack of ambition on what truly ails us – emissions from fossil fuels," the small islands alliance said in a statement. "We implore the international community to use the platforms of the UNGA and New York Climate Week to signal unequivocal support for Small Island Developing States," it said, using the acronym for the U.N. General Assembly. Meanwhile, at several hotel ballrooms and other venues across Manhattan, around 2,600 people have registered for in-person attendance at Climate Week events featuring over 200 speakers from the private sector, governments and nongovernmentalion (NGOs.

Persons: Antonio Guterres, we're, Selwin Hart, Guterres, Hart, We’ve, Romain Ioualalen, Valerie Volcovici, Jonathan Oatis Organizations: Climate, United Nations General Assembly, U.N, Action, United Arab, Alliance of Small, General, Oil Change, Thomson Locations: Manhattan, Paris, United Arab Emirates, Brazil, China, South Africa, India, Russia, New, midtown Manhattan

☆ To Understand Clean Energy Challenges, We Went to Uzbekistan
▼ + stars: | 2023-09-14 | by ( Max Bearak | More About Max Bearak | ) www.nytimes.com time to read: +1 min

At the center of it allClean energy investments by Masdar could help Uzbekistan, a vast, landlocked country in Central Asia where the population and its energy needs are growing rapidly, rely less on the fossil fuels that make up nearly all of its energy arsenal today. Its government relies entirely on foreign funding to build up its energy infrastructure, however, and will take what it can get. He said he hoped to get countries to agree on a tripling of global renewable energy capacity at the climate talks. Emirati funding of both renewable and fossil energy is playing out elsewhere, too. In Azerbaijan, a recent Adnoc investment in an offshore oil field overshadowed Masdar’s expansion in renewable energy.

Persons: Jaber Organizations: Oil Change Locations: Uzbekistan, Central Asia, Masdar, Al, Azerbaijan, Germany, Japan

They threatened to stay until the subsidies are lifted, and to come back every day if the police remove them. The action is part of a series of protests led by Extinction Rebellion targeting the Dutch parliament. Political Cartoons View All 1148 ImagesA report published Monday said the Dutch government spends around 37.5 billion euros ($40.5 billion) per year in subsidies to industries that use fossil fuels — notably the powerful shipping industry. Minister for Climate and Energy Rob Jetten acknowledged that the country has to end the subsidies, but has offered no timeline. The report calls on lawmakers to begin phasing out the subsidies even before the country’s Nov. 22 general election.

Persons: —, Energy Rob Jetten Organizations: Greenpeace, Extinction, The Centre, Research, Multinational Corporations, Change International, Minister, Climate, Energy Locations: HAGUE, Netherlands, The Hague

☆ Triller has pitched its app as a TikTok replacement, but says it won't try to generate revenue directly from its namesake product
▼ + stars: | 2023-08-25 | by ( Dan Whateley | ) www.businessinsider.com time to read: +5 min

Triller said it won't try to generate revenue directly in the short-video app it was named after. The company does not perceive the Triller app as core to how it makes money, Green told Insider. Triller will therefore book costs tied to the Triller app as sales, marketing, general, or administrative expenses rather than as a cost of revenue, it wrote in its securities filing. These costs could include paying talent and influencers to drive adoption of the Triller app, or paying to license music for the app as a brand-building tool, it wrote. In 2022, Triller said it grew overall revenue by roughly 80% year over year to $47.7 million.

Persons: Triller, Julius, Michael Green, Trump, Trump's TikTok, Mahi de Silva, isn't, we're, I'm, it's, Green, FITE Organizations: Tech, New York Stock Exchange Locations: Beijing

☆ TikTok challenger backpedals into public arena
▼ + stars: | 2023-08-21 | by ( Anita Ramaswamy | ) www.reuters.com time to read: +3 min

Acquire Licensing RightsNEW YORK, Aug 21 (Reuters Breakingviews) - A celebrity-studded video app is fighting to contend in the public arena. The Triller app, started in 2015, runs a TikTok-like feed, but it has backed away from the battle. Brands generated most of Triller’s $48 million in revenue last year, but recent acquisitions have fueled much of the latest growth. Details are scant on Triller’s user count beyond the 550 million accounts it says it has signed up since inception. Follow @AnitaRamaswamy on TwitterCONTEXT NEWSVideo-sharing app Triller said on Aug. 2 that it plans to pursue a direct listing of its shares on the New York Stock Exchange.

Persons: Triller, Snoop Dogg, Mike Tyson, Charli, Mahi de Silva, Swizz Beatz, Timbaland, Black, Jeffrey Goldfarb, Sharon Lam Organizations: Reuters, New York Stock, Walmart, Facebook, Meta, Apple, Google, New York Stock Exchange, SeaChange International, Thomson Locations: New York, U.S

☆ Triller is finally heading to the public markets after trimming losses and tweaking its investor pitch. Here are 3 main takeaways from the hundreds of pages it filed.
▼ + stars: | 2023-08-09 | by ( Dan Whateley | ) www.businessinsider.com time to read: +8 min

Triller's preliminary S-1 filing to go public on the New York Stock Exchange has been released. The company reported a smaller net loss in 2022 than in 2021 and around $48 million in 2022 revenue. In its S-1, the company featured images of celebrities like Jennifer Lopez and DJ Khaled inside Triller products. One metric notably absent from Triller's S-1 is active user counts across its platforms. In its S-1, the company wrote it had "established more than 550 million user accounts" across its offerings, which it defined as anyone who created an account.

Persons: Triller, It's, it's, Snoop Dogg, Josh Richards, Richards, Jennifer Lopez, DJ Khaled, Charli D'Amelio, D'Amelio, TikTok, Julius, Triller's, Mike Lu, Ryan Kavanaugh's, Bobby Sarnevesht Organizations: New York Stock Exchange, Sony Music Entertainment, Universal Music Group, Sony Music, Seachange, SEC, Triller, YouTube, Facebook, Twitter, Meta, Inc, TechCrunch, Billboard, Media Locations: NFTs, TikTok, Triller

NEW YORK/LONDON, June 1 (Reuters) - A bill backed by debt justice campaigners and civil society groups advocating on behalf of economically distressed countries could alter past and future sovereign debt restructurings covered by New York state law - and Wall Street is watching. Senate Bill S4747, the NY Taxpayer and International Debt Crises Protection Act, "relates to New York state's support of international debt relief initiatives for certain developing countries." The initiative has so far failed to accelerate debt relief talks, while private creditors are not even formally included in this initiative. It would "bring badly needed improvements to the framework for resolving unsustainable sovereign debt burdens," according to Nobel Prize-winning U.S. economist Joseph Stiglitz. If this bill passes, "I would recommend issuers not go through New York law, (but) through London or any other jurisdiction," said Rodrigo Olivares-Caminal, professor of banking and finance law at Queen Mary University of London.

Persons: Bill S4747, Alexander Flood, Patricia Fahy, Kathy Hochul, Joseph Stiglitz, Rishikesh Ram Bhandary, THE BILL, Rodrigo Olivares, Caminal, Rodrigo Campos, Jorgelina, Karin Strohecker, Aurora Ellis Organizations: NY Taxpayer, Senate, Institute of International Finance, Paris Club, China, WHO, Economic, Initiative, Boston, Global, Policy, THE, Queen Mary University of London, Thomson Locations: New York, United States, Ukraine, Sri Lanka, Zambia, Rishikesh, London, Paris, Brazil, Argentina, Rosario

☆ Premarket stocks: The world's biggest banks are still pouring money into fossil fuels
▼ + stars: | 2023-04-20 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

New York CNN —Banks have pledged to go green, but last year they poured billions of dollars into expanding the capacity of fossil fuel production despite the accelerating climate crisis. While Canadian banks are providing a rising share of the money, US lenders still dominate the market and accounted for 28% of all fossil fuel financing in 2022, said the report. High prices have swelled profits for energy companies, leaving them flush with cash. The record profits come after the world’s 60 largest private banks provided $5.5 trillion in finance for fossil fuels over the past seven years, according to the report. The Banking on Climate Chaos report, which has been published for 14 years, examines the fossil fuel funding of the 60 largest banks in the world.

☆ From black to green: How an oil-and-gas company pivoted to embrace wind energy — and is now raking in billions
▼ + stars: | 2023-04-13 | by ( Freya Graham | ) www.businessinsider.com time to read: +11 min

Like Sykes, it made a transition from black to green — and in doing so, it demonstrated it's possible for big energy companies to pivot to clean energy. To limit the influence of climate change, those emissions need to rapidly decrease — which means that big energy companies need to change their operations. A 2022 study found that 51% of the world's biggest publicly listed energy companies had not set out a strategy to reduce their emissions. Shell, for example, says it has about 50 gigawatts of renewable energy in operation, under construction, or in development. "If we could do the energy transition without them, I wouldn't be doing this," van Baal added.

☆ Triller missed its target for going public again, as it waits for the SEC to OK its confidential filing
▼ + stars: | 2023-01-10 | by ( Dan Whateley | ) www.businessinsider.com time to read: +9 min

Triller is in a holding pattern on its path to becoming a public company. A spokesperson said that once its registration statement is declared effective, it will make the filing public for the required time ahead of its public listing. The long slog toward becoming a public company as lawsuits pile upTriller has been pursuing a public offering for over a year. In December 2021, Triller announced it instead planned to go public via a reverse merger with the video-tech company Seachange International. "After much deliberation, Triller has determined that the best course of action is a direct listing for Triller."

☆ Triller is planning to go public in a few weeks despite removing major-label music from its app
▼ + stars: | 2022-12-05 | by ( Dan Whateley | ) www.businessinsider.com time to read: +6 min

The update comes as the company removed last week the song catalogs of major labels from its video app. In 2020, Triller partnered with Billboard to publish weekly "Top Triller US" and "Top Triller Global" charts. In its statement to Insider, Triller suggested that removing music from major labels could help save the company money. The Triller app remains just one piece of the company's overall business. Triller even invoked TikTok in its statement about its decision to remove the catalogs of major music labels, writing that, "TikTok and the labels have aligned so closely."

☆ Analysis: COP27 loss and damage fund heralds 'new dawn for climate justice'
▼ + stars: | 2022-11-20 | by ( Megan Rowling | ) www.reuters.com time to read: +8 min

Yeb Saño, head of Greenpeace Southeast Asia, said the fund's approval "marks a new dawn for climate justice." While the loss and damage fund would not be enough to deal with growing climate losses, "it is a much-needed political signal to rebuild broken trust" between rich and poor nations, he said in a video statement. Their opposition was rooted in fears of being held financially liable for the impacts of their historically high greenhouse gas emissions. FOSSIL FUELS MISSINGPolitical figures had urged countries at COP27 to set aside geopolitical fights in order to keep climate action on track. Manuel Pulgar-Vidal, global climate and energy lead for environmental group WWF, who presided over COP20 in Peru, said leaders had missed the chance in Egypt to speed up the rapid and deep emissions cuts essential to limit climate damage.

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