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The global stocktake was set for 2023 at the 2015 Paris Climate Accords. This measures the progress towards limiting climate change warming to to 1.5 degrees rise in temperatures. The 2023 stocktake at COP28 Dubai shows the goal is elusive and the earth is at warming by 2.5 degrees Celsius, with the climate change action of industry and public participation flagging. The pandemic has worsened the financial ability of poorer countries to handle the transition to clean energy, even as it has caused serious floods and fires. The major oil companies are also not investing as needed.

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Such realism is needed today to listen to all so that climate change action on auto carbon emission can be de-politicized and realistic plan can be adopted. Too many floods, fires and adverse events by 2024 for the US not to have a plan and deny climate change does not exist. The Biden administration gives flexibility to automakers to meet auto carbon emissions rules by 2032 by accelerating the progress in the last 3 years as the capital investments, research and learning curve for new technologies, manufacturing improvements and cost reduction, and charging station infrastructure enlargement have taken place by 2030. Biden administration officials clearly understand resistance of carbuyers when the charging stations needed do not exist and costs are high in 2024, and EV technologies are at learning stage.

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From 2007 to 2022 US electricity demand flattened with new energy efficient technologies. It is now poised to increase from 2022 to 2035 and the process is happening  with approval of new natural gas plants and new data centers, new manufacturing plants needing large amounts of renewable energy. This say Plumer and Popovich in NYT could very well upset president Biden's plans to get 100% of energy from renewables by 2035 and cut greenhouse gas emissions by half to tackle climate change. Utilities are moving ahead with putting up new natural gas plants, and new data centers are needed for the shift to remote work since 2020, electric automobile and chip making plants are coming up at a rapid pace. Without a sustained effort the climate change action needed may not take place with the long lead times to bring renewable solar, wind and other energy and put it in place for transmission. This report looks at the data centers coming up in Virginia and the EV manufacturing plants in Georgia as examples for the new demand and how it could upset plans for climate change action. ...

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Sitharaman told parliament the situation created by 2013 had the effect of national security being compromised, Environment as a Ministry becoming a bottleneck, and the leadership failing the country. In the military there was a critical shortage of ammunition and equipment. She cites the Defense Minister at the time having the attitude that independent India has had a policy for many years not to develop the border areas, as an undeveloped border was better than a developed border. She also says Ministry stated that 92% of the Defense Budget was used up and major acquisitions have to wait for the military. Following this Sitharaman cited the scandals of that period and leakages of funds that weakend the country and failed its people. She compared defense capital expenditures today of 6.22 lakh crores in 2024 thre times the number in 2013 of 2.53 crores. HAL now makes Tejas jets and helicopters in Made in India production. At the Environment Ministry the delays that were 86 days reached a high of 316 days by 2013 for approval of development projects, with 355 projects pending, the nation brought to a standstill with the effects of the coal supplies to thermal power plants being wholly inadequate and Coal India in poor shape. The root of this was said Sitharaman- what everyone in Indian business knew, the term "genteel facts," as the cost of business going up. She cites the changes since then of aiming for Balance and Development- Transparency, Online Green Clearance, Standardized Environment Impact Studies, A new Department of Climate change, International Solar Alliance 2015, Mission Life 2022, Green Hydrogen, Namami Gange, Rooftop Solar. India set ambitious goals at the last Climate change Conference.    ...

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The vehicle scrapping policy gets more financing in the 2023 Indian budget. This will have the effect of increasing car sales and jobs as newer cars, buses and other vehicles are put on the road. By increasing electric vehicles it is a fight for climate change prevention. The simple act of removing fossil fuel guzzling older vehicles with newer fuel efficient vehicles cuts oil use and cuts oil import costs. Doing this on scale is what will help in the fight for climate change. In just one move India will remove about 1 million buses, trucks and transport vehicles used by federal and state governments by April 1, 2023.

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Issues of lack of leadership on climate change that face David Malpass, head of the World Bank are discussed in this report in The Guardian. The Biden administration sees this as a problem because of the need for strong leadership and action in developing countries on climate change, and for financing to support this. Malpass was selected by president Trump for this position and Mr. Trump is known for taking the US out of the Paris Climate change Accords. The climate change related floods, drought and fires in 2022 have created anew awareness of the need for strong action worldwide by all institutions and world leaders.

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Heat mapped sidewalk heat is shown in color images in the NYT for 3 US cities Phoenix, Sacramento and Portland. Phoenix one can understand but Sacramento and Portland are hard to grasp- such is the acceleration of climate change effects across the Us and in other parts of the world. Does one then sees anywhere in the NYT, WSJ, W. Post, the Guardian, on the television news channels any coverage of what each candidate for the next 4 years running the US government is going to do for climate change effects? Inaction on climate change would produce severe costs for the US economy which will drain its resources 2-4 years from now as the effects of climate actually accelerate when nothing is done. This could cost as much as a trillion dollars in 2028 if nothing is done for climate change under the former president.

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Typhoon winds that exacerbated the floods in Beijing, China, are shown here in a BBC report. Recent floods in China and fires in Maui, Hawaii, show effects of climate change on opposite sides of the planet in August 2023. This is one more reason for the US and China to work with other countries in limiting the effects of climate change and focus on the important issues that require cooperation and mutual effort.

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Climate Reset Berlin, a coalition of climate change action groups, has introduced a referendum that brings forward climate change action goals put off till 2045. The referendum makes 2030 the new target date for 95% reduction in carbon emissions consistent with the 2015 Paris Climate Change Agreement. Berlin is 80% dependent on fossil fuels for energy needs in 2023. Proponents say there is great potential for wind and solar energy. Opponents say that it is too costly and will take up funds now allocated for childcare and education. The outgoing Greens SPD government of Berlin opposes it, as does the new expected CDU government. The Green senator for Berlin supports it, as do other private groups. Buildings need to be renovated and private transport curbed.

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This WSJ report says IRS is working on collecting $10.7 bill in taxes from Amgen for the shift of $14 billion in profits to its Puerto Rican subsidiary. Puerto Rico is considered a foreign country for US tax purposes, and by locating profits there Amgen paid much lower taxes than most companies. In 2013 this was effective tax rate of 3.5%. Now this is coming into careful scrutiny from the US government as president Biden plans to generate revenues to pay for the shift to renewable energy to combat climate change with COP26 commitments by the US, and to reduce pharmaceutical cost inflation for the US public. This is the idea behind the $369 billion Inflation Reduction Act of 2022, both a climate and a tax bill that is being passed in the US Congress.

This bill is the biggest climate change bill in history and yes it depends on revenues from fair taxation that has not happened till the Biden administration's resolute effort in this direction.

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Things may not turn out the way polls show is the subject of this editorial in the WSJ. Prospects of some Republican candidates for the Senate in Arizona and Missouri are not what they appeared before. The division among Republicans about the legitimate votes in the 2022 presidential election as an issue in the midterms is leading to a fragmented election effort. The Inflation Reduction Act of 2021 shows Democrats responding to the issue of inflation and climate change, leading to new questions about Republicans in the rest of 2022.

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India and China agree to a legally binding deal on climate change and emissions that would be drafted by 2015, and take effect in 2020. This would bring them in line with or symmetrical with the U.S. and European countries for controlling emissions.

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India is taking a strong stand in talks in Bonn, Germany, for investment funding to tackle climate change and to help areas affected by climate change. Agricultural crop in India is reduced from the heat wave's impact and cities are sweltering from the heat wave. Climate change action is a priority for regions such as India. The Bonn talks are preparatory to another meeting after Glasgow summit. The next summit is in Egypt Nov. 7-18 2022.

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COP26 stands for Conference of the Parties for Climate Change. The conference will be held in Glasgow from 31 October to 12 November 2021 in the UK. It is important because for the first time the major countries are keen on pushing forward with climate change policies and targets. This includes India, China, US, European Union, and major Asian, Latin American, African nations. In India Mr. Modi has set a target of 450 GW for renewable energy. China is aggressively cutting back on its use of coal to the point of tolerating cutbacks in electricity for industry and cities. US, UK, Germany, Nordic countries are pushing forward with new targets for reducing coal consumption and increasing renewable energy production, advancing renewable energy technologies. The new Biden administration in the US and the Greens in Germany have replaced administrations that were not as committed to tackling climate change. With China and India also committed to tackling climate change with renewed vigor the stage is set for serious steps to be taken. To reach the target of limiting global heating by no more than 1.5 degrees centigrade countries all over the world have to cut emissions by 45%. In reality emissions will increase by 16% in 2021 because China and India still depend on coal and developed nations have not cut back enough. To cut use of coal and preserve forests, avoid the drastic changes in weather patterns with drought and floods in different parts of the same country seen in Germany, India, African countries and other Asian countries a lot needs to be done. Here Mr Kerry the US Representative for Climate Change, says -"There is a significant increase in ambition on cutting emissions than ever imagined possible. A much larger group of people are stepping up." It is not clear if Mr. Xi of China will attend the Glasgow meeting. He has talked to Mr. Biden at length on this issue recently. Mr. Modi of India will attend and will meet Denmark's prime minister Mitte and other leaders before the COP26 in Glasgow.  ...

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Costs of climate change include food insecurity and drought, floods and fires. FR24 pictures show 10 figures from the 2021 Report of the Lancet Countdown on health and climate change: code red for humanity.

Shorter growing seasons lead to declines of 6% for corn and soy, and winter wheat 3%, rice 2% relative to 1980-2010.  2 billion people face food insecurity. Costs from extreme weather events in 2020 was $278 billion. 4 million deaths attributable to air pollution in 2019.

Drought leads to migration in Africa and Asia as crops and cattle wither in the heat from lack of rain. The estimated share of global surface area affected by extreme drought for any given month in 2020 is a shocking 19% according to this FR24 report. Also shocking is that until 2010 this figure was rarely above 5%.

 

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What we bring is scale, says Teskey, co-founder of Brookfield Asset Management, which has set a target of $25 billion for 2 private funds for climate action. $10 billion has been raised and it continues fundraising. $2 billion from the UAE for energy transition fund and $1 billion for emerging markets transition. Additional fund raising will take place for emerging markets fund. Across all its funds Brookfield says it has raised $100 billion for investment in renewable power and energy transition projects. The demand for renewable power comes from cities and companies looking for cleaner ways of powering everything from data centers to manufacturing. It also comes from regulations on climate and from generous incentives offered by governments. The demand for renewable power from corporates, says Connor Teskey of Brookfield, is simply overwhelming. Teskey and Mark Carney, the former head of the central banks of UK and Canada and the point man on climate for the UN, are co-founders.   Total global energy transition investment was $1.8 trillion in 2023, a 17% increase from 2022, and yet this is nowhere near the needed investment of $4.8 trillion for climate goals needed annually for 2024 to 2030. Lyrarc.com will track these investments in its Climate Change Action part of the site. Brookfield is looking at cutting emissions in what is a broader strategy. whih means it will invest in fossil fuel projects where it can significantly cut emissions. This includes cement and steel makers.    ...

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Food insecurity issues India faces with climate change are covered in this report in NYT. The government is releasing stocks of subsidized tomatoes after extreme heat followed by floods destroyed part of the tomato crop. Floods are affecting all parts of India during July 2023. 

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Western nations including Europe, Canada, Japan and South Korea, are members of the International Enerrgy Agency, which has 1.5 billion barrels in reserve. The IEA will release oil from its reserves to support president Biden's plan to release 180 million barrels over the next 6 months. OPEC that includes Russia plans to increase production by only about 432,000 barrels a day.  During the Trump administration Saudi Arabia and Russia were at odds on production levels leading to Russia increasing production to higher levels than OPEC would allow. This led to a temporary collapse of oil prices to levels as low as $30. To help the US oil fracking industry which could not operate at these low prices president Trump brought the two sides together into what is now OPEC+. The Biden administration has ties with both Iran and Saudis, and aims to revive the Iran nuclear deal, withdrew support for Saudi air strikes on Yemeni Iran backed Huthi rebels. In this geopolitical situation Saudis are reluctant to respond to US calls to increase production as they have done in the past. With climate change and the COP26 agenda in Glasgow there is a plan to shift away from fossil fuels such as coal and oil that are supplied by OPEC and Australia. This means that a shift away from Russian or Saudi oil is also a shift towards renewable energy such as wind and solar which is needed to combat climate change. The Ukraine war and efforts to wean Europe away from Russia sourced energy will accelerate the changes needed to tackle climate change, even though the US fracking industry will step in to increase production at oil prices at $100+ in 2022. After 2023-2024 the push for conservation and renewable energy from today's crisis and Glasgow COP26 commitments, sharp slowdown in China and renewable focused India is likely to bring down oil prices to reasonable levels for a transition period to renewable energy. ...

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The Guardian looks back at 2023 and covers the work of scientists from US, Germany and Brazil showing the damage. NASA scientist James Hansen tells The Guardian that with the current stage of politics and inaction on climate change young people in the world need to take over. Scientists at the Japan Meteorological Agency measured temperatures at 0.53 degrees centigrade higher than the global average 1990 -2021. This was higher than the previous high reached in 2016 of 0.35 degrees centigrade. Over the long term the world is considered to be 1.2 degrees hotter than preindustrial times, by experts. Included is the report "Hothouse Earth" by the Potsdam Institute of Climate research and other experts on the speed of the global warming.

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One negative effect of the trade war with the U.S. is an increased emphasis on energy security and increased use of coal in China. After China committed to goals for climate change coal use declined in 2014, after reaching a high in 2013. The attack on Saudi oil facilities showed risk in its reliance on Saudi oil. China's import dependency for oil reached an all time high of 72% in 2018, according to BP 2019 Statistical Review. Gradually the commitment to climate change and lower use of coal has changed since 2016 with the withdrawal of the U.S. from the Paris Climate Change Agreement. Initially after the U.S. withdrawal under president Trump China made bold commitment to lead the fight against climate change but has since wavered. In an October 2019 speech Premier Li Kequiang called for the development of the coal industry to ensure energy security.  As China's economy slowed in 2019 in the face of U.S. tariffs and a trade war with the U.S. efforts are being made to increase infrastructure investment which has driven coal use higher. China's steel output reached a record of 750 million metric tons in 2019. The amount of coal fired capacity under construction in China now exceeds the rest of the world combined, much of it from plants permitted before 2017, according to Global Energy Monitor. China is also expected to become the world's largest importer of natural gas by 2020. Even the Russian gas fields from Siberia supply only a fifth of China's energy demands in 2020.  China has made large strides in renewable energy helping it meet its Paris Agreement targets. Renewable energy is about 10% of China's energy mix, but its use showed growth of 29% in 2018, making up half of the world's growth. China's use of coal in the energy mix has dropped to 58% in 2018 from 72% in 2008, according to BP 2019 Statistical Review, as a result of renewable energy investments. At the Madrid Climate Conference China renewed its commitment to the Paris Climate Change Agreement. Now it is a balancing act keeping in mind energy security and economic growth along with the need for clear skies and better air quality. ...

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Wind and solar finally overtake coal in power generation for the European Union. 30% of EU electricity is now generated by wind and solar. Power generation from coal and gas dropped by 17% in first 6 months of 2024, resulting in one third drop in sector emissions, according to climate think tank Ember. In 13 member states power generation from solar and wind was higher than coal and gas with Germany, Netherlands, Belgium and Hungary achieving this for the first time. This makes US commitment to climate change all the more critical for 2024-2028. EU is a big contributor to emissions for climate change. It is also setting aggressive goals. This progress brings into view zero power from coal and gas.  Andrea Hahmann , scientist at Denmark technical University, author of one chapter in the IPCC report on energy systems says “The ‘crossing of the lines’ demonstrates that the EU’s electricity transition is possible, and we should not give in to pessimism. The renewable energy targets that must be met are substantial but achievable with the proper policy measures.” ...

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Trump is getting the support of oil billionaires and oil and gas backers as he decides to ignore climate change completely in favor of "Drill, Baby Drill." Costs of not doing anything for climate change action would accumulate in the absence of action and it could cost the US upwards of 1 trillion dollars in 2028 to fix what was breaking and was ignored for 4 years.

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Antonio Guterres was prime minister of Portugal from 1995 to 2002. As climate change action leader he plays an important role in 2022. He is interviewed here by The Guardian with a look at his role so far before COP27 opens in Egypt. Guterres became Secretary General of the United Nations in 2017. His leadership and visible presence is a source of reduction of tensions during the war in Ukraine and a source of renewed commitment during the climate change disasters of 2022.

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COP30 Belem, Brazil- in the absence of the US the meeting of Merz, Macron, Lula, Starmer and Chinese leaders is critical to keep the climate change fight alive in 2025. A spectacular setting where the Amazon river meets the Atlantic at Belem on the coast of northern Brazil in the state of Para.

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Canada's oil sands is an oil patch with strong climate change effects. As big oil companies under pressure from different groups leave this oil patch, other local companies are stepping in. This WSJ report says these local companies in Canada are pumping more oil from this patch in third quarter 2021 than in the same period in 2020. As long as it is profitable to do so these companies will operate in this patch of Canadian oil sands in Alberta, says the WSJ.