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There are some 35,000 people attending the United Nations COP27 climate summit in Egypt. Sign up for our newsletter to get the latest on the culture & business of sustainability — delivered weekly to your inbox. Long stretches of highway separate the luxury coastal resorts, with their green grass and water fountains, from the dusty desert and many half-constructed buildings. Small protests are allowed inside, where UN rules apply, but outside and across the rest of Egypt, political dissent is effectively banned. Take a glimpse inside before the summit comes to a close on Friday.
During the COP27 event, three oil-and-gas deals in Africa have been announced. In the past two weeks — essentially the time of the COP27 summit — three oil-and-gas deals were announced for Africa alone, in Egypt, Nigeria, and Tanzania. That demand is evident even in announcements that purportedly support renewable energy. Plus, the projects are more expensive than building out renewable energy like solar. "If we really want to improve the lives of people, we need to invest in community renewable energy," Elmaawi said.
Good Meat served its "cultivated" chicken at the UN climate summit in Egypt. Cultivated meat is getting attention at the UN's COP27 meeting because at least 14% of global greenhouse-gas emissions come from animal agriculture, largely driven by beef and dairy cattle. Good Meat went to great lengths to get its "cultivated" chicken served in Sharm el-Sheikh, Egypt, where the COP27 meeting is taking place. The restaurant 1880 in Singapore sold two dishes with Good Meat's chicken for $23, but the revenue from that still isn't enough to make Good Meat profitable. But it will take a whole lot of "cultivated" chicken to offset the world's poultry obsession.
Insider's senior sustainability reporter, Catherine Boudreau, is at the UN climate summit in Egypt. Sign up for our newsletter to get the latest on the culture & business of sustainability — delivered weekly to your inbox. Catherine Boudreau, senior sustainability reporter at Insider, is covering the United Nations' COP27 climate conference. She will give an on-the-ground perspective of her experience at this year's global meeting during Insider's "COP27 Reporter's Notebook" editorial spotlight. This 30-minute live conversation is part of Insider's climate and sustainability coverage.
President Joe Biden touted the new US climate law and methane restrictions at a UN climate summit. Biden urged rich countries pay up on climate, but the US hasn't been meeting its own promises. Developing nations share comparatively little responsibility for the buildup of heat-trapping gasses in the atmosphere. "If countries can finance coal in developing countries, there is no reason we can't finance clean energy in developing countries," Biden said to loud applause from the audience. Looming over COP27 is the global energy crisis sparked by Russia's war in Ukraine.
The plan would create revenue to fund developing countries' moves toward clean energy. "This is a critical tool that will supplement, not replace, other sources of climate finance." The US will also consult with organizations that are trying to improve the scientific integrity of carbon credits. "Buying emissions reductions from developing countries is not the same thing as channeling climate finance and raises questions about who can count the reductions." African nations unveiled their own carbon-market initiative Tuesday, with an aim to supply 300 million carbon credits each year by 2030 and raise up to $6 billion.
Egyptian-British activist Sanaa Seif is calling for her brother's release from an Egyptian jail. The Egyptian government has denied mistreatment, and this summer a member of the presidential-pardon committee said Abd el-Fattah was among those being considered for possible release, reported Al-Ahram, an Egyptian state-owned newspaper. He added that foreign intervention in human-rights reform in Egypt "is fated to fail" and would harm the country's people. Seif said her family has exhausted every legal route in Egypt to secure her brother's release, to no avail. "After COP, I don't know if I'll be alive or not," she said.
Two leaders called for windfall taxes on oil and gas companies to help fund climate efforts. The world is on a "highway to hell" unless countries step up action, the UN secretary-general said. "We are on the highway to climate hell, with a foot on the accelerator." That wasn't part of the policy agreed on by the EU in September to tax windfall profits made by fossil-fuel companies. This drains budgets and leaves less money for infrastructure projects that make countries more resilient to the climate crisis.
Climate reparations for poorer nations are on officially on the agenda at the UN climate summit. Developing countries with "loss and damage" from climate disasters want rich nations to pay up. The inclusion of so-called climate reparations sets up a debate over how to compensate poorer nations for the climate impacts they've already suffered but for which they bear little responsibility. They've repeatedly objected to discussing loss and damage during past UN climate negotiations over concern that such talks would result in enormous financial liabilities. More than a decade ago, rich nations promised to send $100 billion a year to poorer countries by 2020.
Research shows that countries and businesses are far off track to meet climate goals by 2030. The grim assessments land as world leaders head to Sharm el-Sheikh, Egypt, for COP27. At Glasgow, world leaders also agreed to "revisit and strengthen" their goals by the end of 2022 given the insufficient progress. To keep 1.5 alive, countries would, by 2030, have to cut emissions 45% compared with where they're headed under current policies. One bright spot: renewable energyThere is still uncertainty about the effects of the global energy crisis on the climate crisis.
That was an improvement over the previous year, but still not nearly enough given the threat the climate crisis presents for humanity, Hu told Insider. "I could spend 20 minutes talking about the destruction from climate change. "More people are aware of this climate crisis and that we have to do something about it because of our actions," Harris said. "Journalists don't report on the climate crisis like it is an emergency. Ridiculous stunts like the art action gets the climate crisis into the headlines and millions of people talking."
Electric vehicles in the coming years will be capable of powering homes and the grid. Backup power from EVs can help during storms and support electric grids strained by extreme weather. A new business unit, GM Energy, has a line of electric-vehicle chargers that can also feed power back to homes and the electric grid. "There's a value stack in EV batteries: supporting the grid, serving as backup power for your home, and also reducing greenhouse-gas emissions." The Ford F-150 Lightning also has bidirectional charging, which proved useful after Hurricane Ian pummeled southwest Florida's power grid.
Demand for metals like lithium and cobalt could jump sixfold alongside the electric vehicle boom. Rivian hired Anisa Kamadoli Costa to lead its climate strategy, including responsible mining. But that doesn't mean electric vehicle makers don't have their own set of climate and social challenges. "Traceability is the best means to transparency and to understanding one's social and environmental impact," Costa said during an Insider event moderated by Catherine Boudreau, senior sustainability reporter. Costa helped craft such a standard during her two decades as Tiffany & Co.'s chief sustainability officer.
Jerome Foster is protesting the UN climate conference in Egypt, citing LGBTQ abusesThe young climate activist also advises the White House on environmental justice issues. Foster spoke to Insider as part of its Climate Heroes 2022 event. Foster spoke as part of an Insider event moderated by Catherine Boudreau, senior sustainability reporter. The event was part of Insider's series Climate Heroes 2022: Working Toward Solutions, which highlighted various leaders' efforts to address the climate crisis. "We shouldn't be scared to go to a climate conference, where we're trying to fight for the right for our planet, but putting our lives at risk just because we love someone," Foster said.
Leaders gathered for the United Nations General Assembly and Climate Week focused on inequality. The climate crisis and the energy transition are widening disparities, leaders said. Rich countries must meet pledges to help those least responsible for the crisis, advocates say. These regions combined have contributed less than 1% of historical carbon-dioxide emissions yet are bearing the brunt of climate impacts. Meanwhile, Europe is in the midst of an energy crisis because Russian President Vladimir Putin has scaled back natural-gas supplies to retaliate against Western sanctions.
And it includes the massive public relations machine raking in billions to shield the fossil fuel industry from scrutiny. "Fossil fuel interests need to spend less time averting a PR disaster—and more time averting a planetary one. But it is high time to put fossil fuel producers, investors and enablers on notice." What followed was an appeal for fossil fuel companies to be taxed on windfall profits—that's a higher tax rate on sudden, unexpected spikes in earnings. "Today, I am calling on all developed economies to tax the windfall profits of fossil fuel companies.
Climate Week NYC 2022 - and Insider is thereClimate Week NYC 2022 is underway and Insider's reporters are on the scene. We'll be providing updates throughout the week on some of the most provocative speakers and topics.
Climate change and Russia's invasion of Ukraine has world leaders looking again at nuclear power. Gavin Newsom's plan to keep a nuclear power plant open points to a trend. Nuclear power doesn't emit greenhouse gases and provides 10% of global electricity. Gavin Newsom wants to extend the life of a nuclear plant that was slated to close by 2025. The race to combat the climate crisis and shore up energy supplies after Russia's invasion of Ukraine is pushing policymakers to reconsider nuclear power.
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