Daily updates on climate change and the global economy.

Daily updates on climate change and the global economy.
Stay current with what’s happening around the world with a quick scan of top news.

Daily updates on climate change and the global economy.
Stay current with what’s happening around the world with a quick scan of top news.

Daily updates on climate change and the global economy.
Stay current with what’s happening around the world with a quick scan of top news.

Daily updates on climate change and the global economy.
Stay current with what’s happening around the world with a quick scan of top news.

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“The climate costs of war and militaries can no longer be ignored…

“The best estimate we have is that militaries are responsible for 5.5% of global greenhouse gas emissions. If the global military were a country, this would place it fourth in terms of its emissions, between India and Russia. Militaries are highly fossil fuel dependent…”

https://www.theguardian.com/commentisfree/2024/jan/09/emission-from-war-military-gaza-ukraine-climate-change


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“Pope warns of a “genuine global conflict” brewing…

“Our world is witnessing a growing number of conflicts that are slowly turning what I have often called ‘a third world war fought piecemeal’ into a genuine global conflict,” Pope Francis warned on January 8, 2024, in his annual address to the diplomatic corps accredited to the Holy See.”

https://aleteia.org/2024/01/09/pope-warns-of-a-genuine-global-conflict-brewing/


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“Israel-Hamas war: Danger of conflict spreading is ‘rising by the day’, warns Jordan.

“The right-wing nationalist coalition government of Prime Minister Netanyahu was seeking to implicate the West directly in a regional war that would “doom the region to more conflict and destruction”, says Jordan’s foreign minister.”

https://news.sky.com/story/israel-hamas-war-danger-of-conflict-spreading-is-rising-by-the-day-warns-jordan-13044432


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“Houthi militias launch biggest attack to date on merchant vessels in Red Sea.

“U.S. and coalition forces under Operation Prosperity Guardian responded Tuesday in the Red Sea to what American officials said was the largest attack to date on merchant vessels by Iranian-backed Houthis.”

https://www.cnbc.com/2024/01/09/houthi-militias-launch-biggest-attack-to-date-on-merchant-vessels-in-red-sea.html


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“Red Sea security fears cut container shipments through Suez Canal.

“The number of container ships at the mouth of the Red Sea on their way to or from the Suez Canal was 90 per cent down in the first week of January compared with the start of 2023, according to research showing the disruption to world trade by attacks on ships by Yemen’s Houthi rebels.”

https://www.ft.com/content/007e8ec6-7124-4e11-b40f-9863bf64df0c


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“China threatens fresh Taiwan sanctions as pre-election tension mounts.

“Beijing warned it could suspend tariff concessions on Taiwanese agricultural, fishery, machinery products, auto parts and textiles as it seeks to ramp up pressure on the incumbent Democratic People’s Party, which polling suggests will retain power for a historic third term but lose its parliamentary majority.”

https://www.afr.com/world/asia/china-threatens-fresh-taiwan-sanctions-as-pre-election-tension-mounts-20240110-p5ewcj


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“Chinese military officials have told their US counterparts that Beijing will “never compromise” on the issue of Taiwan…

“The United States and China wrapped up two days of military talks in Washington, DC on Tuesday, the Pentagon said, the latest round of discussions since the two countries agreed to resume military-to-military ties.”

https://www.aljazeera.com/news/2024/1/10/in-talks-with-us-china-says-it-will-never-compromise-on-taiwan


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“US Recession avoided? History says otherwise…

“Historically, there’s a long lag before elevated interest rates take their toll on the economy… Soft-landing talk is not unusual ahead of recessions, said Reid. His team found that mentions of a soft landing in Bloomberg articles spiked significantly ahead of the 2001 and 2008 recessions.”

https://edition.cnn.com/2024/01/09/investing/premarket-stocks-trading/index.html


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“Salmon compete with mining companies as melting glaciers reveal new habitat [Western Canada and Southeast Alaska]…

“By the time salmon were discovered in Xsik’alaa’n, mining companies had already staked claims in the surrounding hillside. And the study finds that much of the region’s new salmon habitat overlaps with a mining hotspot where dozens of claims have already been staked on newly melted land.”

https://alaskapublic.org/2024/01/09/salmon-compete-with-mining-companies-as-melting-glaciers-reveal-new-habitat/


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“Norway votes for deep-sea mining despite environmental concerns…

“The decision comes despite warnings from scientists that it could have a devastating impact on marine life, and opposition from the EU and the UK, which have called for a temporary ban on deep-sea mining because of environmental concerns.”

https://www.theguardian.com/environment/2024/jan/09/norway-set-to-approve-deep-sea-mining-despite-environmental-concerns


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“UK Chancellor Jeremy Hunt said he is “bitterly disappointed” after a legal ruling gave the go-ahead to a gas drilling project in his constituency.

“UK Oil & Gas (UKOG) had applied to explore a site in Dunsfold, in Mr Hunt’s South West Surrey constituency… The Court of Appeal has now refused permission to appeal the decision.”

https://www.bbc.co.uk/news/uk-england-surrey-67924693


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“EDF Energy plans to extend life of four UK nuclear power plants.

“EDF is planning to extend the life of four nuclear power stations in the UK and increase investment in its British nuclear fleet… Last March, EDF extended lifetimes at Hartlepool and Heysham 1 by a further two years to March 2026. Heysham 2 and Torness power stations are now due to stay operational until March 2028.”

https://www.theguardian.com/business/2024/jan/09/edf-energy-uk-nuclear-power-plants


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“France drops renewables targets, prioritises nuclear in new energy bill.

“Critics are deriding as a step backward a new French energy bill that favours the further development of nuclear power and avoids setting targets for solar and wind power and other renewables.”

https://www.france24.com/en/france/20240109-france-drops-renewables-targets-prioritises-nuclear-in-new-energy-bill


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“Nationwide German farmer blockades heap pressure on Scholz.

“German farmers kicked off a week of nationwide protests against subsidy cuts on Monday, blocking roads with tractors and piling misery on Chancellor Olaf Scholz’s coalition as it struggles to fix a budget mess and contain rising far-right forces.”

https://www.reuters.com/world/europe/german-farmers-block-roads-highway-ramps-protest-subsidy-cuts-2024-01-08/


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“German retail giant Galeria insolvent in wake of Signa collapse.

“German department store giant Galeria Karstadt Kaufhof said on Tuesday it had filed for insolvency following the collapse of its parent Signa amid a real-estate crisis in the region. Galeria, Germany’s most prominent retailer, said it was seeking a new owner…”

https://www.reuters.com/business/retail-consumer/german-retail-giant-insolvent-wake-signa-collapse-property-crunch-2024-01-09/


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“Poland police arrest fugitive MPs as tensions rise between new and old governments.

“Polish police have arrested two politicians convicted of abuse of power who had taken refuge for hours in the palace of President Andrzej Duda, in a dramatic escalation of a standoff between the new and previous governments.”

https://www.theguardian.com/world/2024/jan/09/polish-police-arrest-two-politicians-convicted-of-abuse-of-power


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“In 2024, Europe to hunt for new partners to offload asylum seekers.

“From Ghana to Georgia, Rwanda to Albania, the EU is looking for nations that will hold vulnerable people on its behalf… as 2024 begins, activists and experts told Al Jazeera that 2023 has seen Europe reach for ever more drastic solutions to curb NGO search and rescue operations and outsource its border management to other nations.”

https://www.aljazeera.com/features/2024/1/3/in-2024-europe-to-hunt-for-new-partners-to-offload-asylum-seekers


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“Tunisian group accuses authorities of mass expulsions of migrants from sub-Saharan Africa.

“Migration activists are sounding the alarm this week about mass expulsions and arbitrary arrests in Tunisia, where authorities are seeing more migrants arrive for attempted Mediterranean crossings from the North African nation to Europe.”

https://www.africanews.com/2024/01/09/tunisian-group-accuses-authorities-of-mass-expulsions-of-migrants-from-sub-saharan-africa/


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“Iraqi Kurdistan on the verge of economic collapse.

“Due to the financial situation in the Kurdistan region of Iraq, which has been made worse by the government’s months-long inability to pay civil servants, many businesses have closed throughout Erbil. Iraqi Kurdistan is facing a financial crisis due to the suspension of oil exports to international markets after Iraq won an arbitration case against Turkey.”

https://www.iraqinews.com/iraq/iraqi-kurdistan-on-the-verge-of-economic-collapse/


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“Police Race To ‘Control’ Unrest In Papua New Guinea’s Capital.

“A festering pay dispute involving Papua New Guinea’s security forces on Wednesday sparked angry protests in the capital, where a crowd torched a police car outside the prime minister’s office… by Wednesday afternoon pockets of unrest had spread through the capital Port Moresby, with video clips on social media showing crowds looting shops…”

https://www.barrons.com/news/police-race-to-control-unrest-in-papua-new-guinea-s-capital-adc66246


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“Lawless Ecuador descends into ‘civil war’ chaos.

“Ecuador’s president has ordered his army to ‘neutralise’ 20 drug gangs after the nation descended into lawless chaos with heavily armed mobsters parading hostages and threatening to execute anyone found on the streets at night.”

https://www.dailymail.co.uk/news/article-12946049/Lawless-Ecuador-descends-civil-war-chaos-President-orders-army-neutralise-20-drug-gangs-heavily-armed-cartel-thugs-seize-TV-parade-terrified-hostages-threaten-execute-streets-night.html


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“Peru Declares State of Emergency on Northern Border Amid Ecuador’s Unrest…

“Military forces have been swiftly deployed to the area to maintain order and assist with operations as needed. The mobilization of the military, in this case, is considered crucial to support local police forces in their efforts to maintain peace and order.”

https://bnnbreaking.com/politics/peru-declares-state-of-emergency-on-northern-border-amid-ecuadors-unrest/


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“Argentina monthly inflation seen at highest since 1990 in December.

“Argentina’s monthly inflation rate likely soared to 28% in December, which would be the highest since early 1990, driven by a sharp devaluation of the peso currency last month by the new government of libertarian President Javier Milei.”

https://www.reuters.com/world/americas/argentina-monthly-inflation-seen-highest-since-1990-december-2024-01-09/


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“Cubans fear worsening inflation as fuel price to soar 500 percent.

“Already under the yoke of inflation and product scarcity, many Cubans don’t know how they will cope with a new 500-percent surge in the fuel price. The communist island’s cash-strapped government announced the five-fold increase Monday with effect from February 1, as part of a series of measures seeking to cut its budget deficit.”

https://uk.finance.yahoo.com/news/cubans-fear-worsening-inflation-fuel-015239935.html


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“The Bond Market Rally Is Overlooking a Soaring $2 Trillion Debt Problem…

“Public debt across advanced economies has soared to more than 112% of GDP from about 75% two decades ago, data from the International Monetary Fund show, as governments ramped up borrowing to finance pandemic stimulus programs, health care and pensions for aging populations and the transition away from fossil fuels.”

https://finance.yahoo.com/news/bond-market-rally-overlooking-soaring-000011016.html


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“How an election-packed 2024 could swing world markets…

“Countries making up over 60% of the world’s economic output and more than half of its population hold elections this year. Markets face a “ballot box bombshell”, financial services group Morningstar says, adding: “prior experience of this kind of event risk shows big changes can cause sell-offs”.”

https://www.reuters.com/markets/global-markets-election-2024-01-10/


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“Global economy on track for worst half-decade of growth in 30 years, says World Bank…

“The global economy is on track for its worst half-decade of growth in 30 years, the World Bank has warned in its latest projections for 2024, as higher borrowing costs and geopolitical tensions weigh on output.”

https://www.ft.com/content/b00ec9ec-5497-4543-aa57-f10873c8952b


You can read the previous “Economic” thread here. I’ll be back tomorrow with a “Climate” thread.

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