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The failure by rich nations to deliver in full on a past pledge to deliver $100 billion in annual climate finance to developing countries has rankled in recent years of climate talks. "We cannot afford a further erosion of trust between the developed and developing countries," said Samoa's Prime Minister Fiame Naomi Mataafa. The burning of fossil fuels is the main cause of climate change, but coal, gas and oil were notably absent in the draft deal. The draft COP27 text did not hint at which route the final deal will take on this issue. "We cannot lose 1.5 at this COP," said Alok Sharma, president of last year's U.N. climate summit, COP26, in Glasgow, Scotland.

☆ Analysis: In final week of COP27 climate talks, success hinges on 'loss and damage'
▼ + stars: | 2022-11-14 | by ( Kate Abnett | ) www.reuters.com time to read: +7 min

[1/2] People pass in front of a wall lit with the sign of COP27 as the COP27 climate summit takes place, at the Green Zone in Sharm el-Sheikh, Egypt November 10, 2022. Some negotiators and observers warn that failure to agree on such "loss and damage" funding could sour the U.N. talks and thwart other deals. At last year's U.N. climate summit all countries agreed to set tougher climate targets this year to keep average global temperature rises to the 1.5C limit that scientists say would avoid global warming’s worst impacts. A relaunch of U.S.-China collaboration on climate change, which China halted earlier this year, could help boost negotiations at COP27. Germany and a group of climate-vulnerable countries launched a "Global Shield" scheme on Monday to attempt to improve insurance for climate disaster-prone countries.

Those pledges include making steep cuts in climate-warming emissions within this decade and contributing to hundreds of billions of dollars needed each year by developing nations already struggling to cope with the impacts of climate change. That could also complicate the talks among government ministers on the so-called cover decisions - which make up the core political deal from the two-week summit. "We haven't seen huge solidarity between the developed and developing countries" but instead "disappointing commitments and action this year, which has dented trust." Developing nations have demanded that COP27 agree to launch a special fund to address loss and damage. The United States and other rich nations are wary of this idea, saying these rapid funds are better channeled through existing programs.

☆ Curbs on rights weaken Egypt's climate talks, campaigners say
▼ + stars: | 2022-11-12 | by ( Dominic Evans | ) www.reuters.com time to read: +7 min

[1/2] People walk outside of the Sharm El Sheikh International Convention Centre during the COP27 climate summit opening in Egypt's Red Sea resort of Sharm el-Sheikh, Egypt November 6, 2022. Climate action "requires more people on the street, more voices, more independent research, more independent reporting, more accountability when climate obligations are not met," said Tirana Hassan, Human Rights Watch's acting Executive Director. "That's not going to happen under governments such as the Egyptian government which is excluding civil society, independent journalism and academia," she told a meeting in Sharm el-Sheikh this week. Despite those criticisms some delegates argued that there was a benefit to holding the summit in Sharm el-Sheikh to shine a light briefly on Egypt's record. "This is a huge opportunity," Egyptian journalist and human rights advocate Hossam Bahgat said.

☆ GIC, Dream Industrial JV to buy Canada's Summit for $3.3 bln
▼ + stars: | 2022-11-07 | by ( ) www.reuters.com time to read: 1 min

Nov 7 (Reuters) - A joint venture between Singapore's sovereign wealth fund GIC and Canadian industrial real estate company Dream Industrial REIT (DIR_u.TO) will acquire Canada's Summit Industrial Income REIT (SMU_u.TO) for C$4.46 billion ($3.30 billion), the companies said in a joint statement on Monday. The unitholders of Summit, which also manages industrial properties across Canada, will get C$23.50 per unit in cash, representing a 31.1% premium to its last close on Friday. Including debt, the deal is valued at C$5.9 billion, the companies said. The deal value, excluding debt, is based on Summit's 189.85 million outstanding units as of June 30. ($1 = 1.3523 Canadian dollars)Reporting by Anirudh Saligrama in BengaluruOur Standards: The Thomson Reuters Trust Principles.

☆ Singapore's GIC, partner to buy Canadian REIT Summit for $3.3 bln
▼ + stars: | 2022-11-07 | by ( ) www.reuters.com time to read: +1 min

Nov 7 (Reuters) - Singapore's sovereign wealth fund GIC and Canada's Dream Industrial REIT (DIR_u.TO) will buy Canada's Summit Industrial Income REIT (SMU_u.TO) for about C$4.46 billion ($3.30 billion), excluding debt, the companies said in separate statements on Monday. GIC and Dream Industrial REIT (DIR) will form a joint venture for the deal, with GIC owning 90% and DIR owning the rest, according to the statements. The deal builds on GIC's recent real estate purchases globally and gives it access to the Canadian industrial space. In September, GIC, along with another private equity firm, bought U.S. commercial REIT Store Capital Corp (STOR.N) for about $14 billion. Including debt, the deal is valued at C$5.9 billion, Summit said.

The COP27 climate summit gets underway in Egypt from Nov. 6. Climate Change Conference will see more than 30,000 delegates convene in the Red Sea resort town of Sharm el-Sheikh to discuss collective action on the climate emergency. Loss and damage funding, meanwhile, is recognized by many as the third pillar of international climate policy. Kerry's openness to talks on loss and damage funding marked an abrupt change in tone from just one month earlier. Singh said political mobilization over loss and damage funding makes COP27 the most important COP yet.

☆ Hong Kong's Lee touts 'China advantage' to rebuild city's image as financial hub
▼ + stars: | 2022-11-02 | by ( ) www.reuters.com time to read: +3 min

[1/4] Hong Kong Chief Executive John Lee speaks during the Global Financial Leaders Investment Summit in Hong Kong, China November 2, 2022. REUTERS/Tyrone SiuNov 2 (Reuters) - Hong Kong leader John Lee pitched the city's connection with China in an address to some of the world's top financial executives, as he pushes to rebuild the COVID-ravaged city's image as a major financial hub. Chief Executive Lee told the Hong Kong Monetary Authority's Global Financial Leaders' Investment Summit on Wednesday the city would continue working towards lifting COVID restrictions. "Hong Kong remains the only place in the world where the global advantage and the China advantage come together in a single city," Lee said. Authorities, he said, were keen for more international companies to list in Hong Kong to grow the city's capital markets activities.

[1/2] Ukraine's First Lady, Olena Zelenska, attends the opening event of Europe's largest tech conference, the Web Summit, in Lisbon, Portugal, November 1, 2022. REUTERS/Pedro NunesLISBON, Nov 1 (Reuters) - In an emotional appeal, Ukrainian first lady Olena Zelenska urged tech workers from around the world on Tuesday to create innovations to stop Russia and help save people in her war-torn country. Describing technology as a "battlefield" in the Russian invasion of Ukraine, Zelenska said that technological equipment such as drones and missiles were being used to "kill people," not to save them. Mykhailo Fedorov, Ukraine's vice prime minister who also runs the ministry of digital transformation, will also speak. Reporting by Catarina Demony, Sergio Goncalves and Pedro Nunes in Lisbon Editing by Matthew LewisOur Standards: The Thomson Reuters Trust Principles.

The 27 are expected to back an alternative price benchmark for liquefied natural gas and joint gas buying, after earlier agreeing to cut consumption and introduce levies on windfall profits in the energy industry. But they remain as split as they were months ago on whether and how to cap gas prices to stem high inflation and stave off recession, after Russia cut gas flows following its invasion of Ukraine. They will also discuss emergency spending to mitigate the effects the acute energy crunch has on their economies and 450 million citizens. But given EU countries' diverse energy mix and interests, the meeting risks falling short on concrete action, with other concerns being whether a gas cap would enable Britain to buy cheaper energy or compromise stability of supplies. EU energy ministers meet again next week but another senior EU diplomat said they did not expect more detailed decisions before November.

☆ Spanish fast car charger startup Zunder reaches 400 mln euro valuation
▼ + stars: | 2022-10-11 | by ( ) www.reuters.com time to read: +1 min

MADRID, Oct 11 (Reuters) - Zunder, a startup setting up and operating ultra-fast chargers for electric cars, reached a valuation of 400 million euros ($388.40 million) after its latest funding round, shareholder White Summit Capital said on Tuesday. Mirova, a fund manager associated to French bank Natixis, poured 100 million euros into Zunder in exchange for a 25% stake, White Summit's managing partner Pablo Pallas told Reuters on Tuesday. White Summit and other co-investors retain the control of Zunder. The company intends to invest 300 million euros by 2025 and expects to raise 100 million euros from bank financing and 100 million euros from EU rescue funds through grants from the Spanish government. ($1 = 1.0299 euros)Register now for FREE unlimited access to Reuters.com RegisterReporting by Inti Landauro, editing by David LatonaOur Standards: The Thomson Reuters Trust Principles.

☆ A 25-year-old entrepreneur shares the most important investments to create a professional and personal brand
▼ + stars: | 2022-07-21 | by ( Alexandra York | Madison Hoff | ) www.businessinsider.com time to read: +5 min

She says social media, marketing, and personal branding are the most important investments. For her personal brand, she spends about $350 each month on a branding coach who helps her decide what message she wants to project through her work. Both a personal and professional brand are important for growthCurtis presenting at a TEDx event. courtesy of CurtisSince merging companies, "it's becoming less of a personal brand," Curtis said. The most important tactic to creating a sustainable brand online is providing value to viewers, she said.

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