Global Climate Summit Starts Today Led By Oil Executive
Leaders from world's two largest CO2 emitters are notably absent
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The Bibas family. Via: NY Times
Good morning,
With minutes to spare before the war was set to resume, Israel and Hamas agreed early Thursday to extend the temporary truce for a 7th day—enabling the freeing of more Israeli hostages and Palestinian prisoners.
On Wednesday, Ten Israeli, two Russian-Israeli and four Thai captives were released by Hamas to the Red Cross, while Israel released 30 Palestinian prisoners in return.
Israel is looking into Hamas’ claim that the youngest hostage held in Gaza, 10-month old Kfir Bibas, has been killed, along with his 4-year-old brother, Ariel, and their mother Shiri. Their father, Yarden Bibas, was also kidnapped, but believed to be separated from his wife and children.
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Mosheh, Jill, & Lauren
🗞 CLIMATE SUMMIT COMES DURING YEAR OF RECORD-SETTING TEMPS
The COP28 climate summit begins today in Dubai. It’s a United Nations conference that gathers 197 countries and the European Union every year to set international agendas around climate change.
Behind the scenes: the United Arab Emirates (UAE) is said to be using their access to world and industry leaders to push their goals to expand oil and gas production.
🚨 Oh, and the president of the UN conference is an oil executive in the UAE.
It comes during a year of record-setting temperatures and extreme weather incidents. Human-caused climate change and an El Niño event have made 2023 the hottest year on record.
THE PARIS TARGETS
If you’re reading climate news, you’ll see a lot about the “Paris targets.”
Back in 2015, at COP21, 196 countries approved the Paris Agreement to limit global warming to well below 2°C, but preferably to 1.5°C. It’s the one President Trump left and President Biden rejoined on his first day in office.
Earth has already warmed an average of 1.1°C since the industrial age.
The legally binding international treaty set the world on a path that scientists supported.
The 1.5°C threshold risks unleashing severe climate change impacts, including more frequent and severe droughts, heatwaves and rainfall.
To limit global warming to 1.5°C, greenhouse gas emissions must peak before 2025 at the latest and decline 43% by 2030.
🚨 The bigger picture: Even if the world meets the Paris targets, Earth is on track for warming 2.5-2.9°C above pre-industrial levels by the end of the century.
As of August 2023. Via: Pew
KEY PLAYERS NOT THERE
At least 70,000 participants are expected to attend COP28 including more than 140 heads of state from around the world. There will be some notable absences including leaders from the world's two biggest carbon emitters: President Biden and Xi Jinping of China.
China: The world’s #1 greenhouse gas emitter is responsible for 30% of annual global emissions. Also leads the world in most clean energy.
Beijing considers itself still developing, and argues that wealthy developed countries like the US — the biggest historical CO2 emitter — should make the biggest moves.
US: The #2 overall emitter—and top emitter per capita—is also now the world’s leading gas and oil producer.
It comes as the Biden administration passed the $369 billion+ Inflation Reduction Act that allocates money for electric vehicles and green products. It is expected to triple the country's clean energy capacity by 2030.
ASKS
Much of COP28's bandwidth will be taken up by setting up the rules governing the "loss and damage" fund — a voluntary mechanism used by countries to help developing nations withstand climate impacts. Translation: the countries most impacted by the effects of climate change (droughts, floods, heat waves) have done the least to contribute to it, and they want rich countries like the US to pay up. It could make for a rough conversation.
US and EU: Asking others to join a pledge to triple renewable capacity this decade.
EU’s 27-country block: Push for phasing out CO2-emitting fossil fuels, ending new coal-fueled power plants, and powering electricity grids with renewable sources in the 2030s.
Brazil, South Africa, India: They are part of a bloc of populous, fast-developing countries. They believe that developed nations (US and Europe) should have to do more. Given they are still developing, they want more time and leniency to continue to use fossil fuels.
Via: Axios
COMPETING INTERESTS
The UAE got rich from oil and gas — which it is preparing to increase production of despite calls for it to cut fossil fuel use by the thousands of attendees descending on its city.
In October, the UAE gathered the world’s fossil-fuel producers for one of the world’s biggest annual oil-and-gas conferences.
They says there’s no contradiction: the world will need oil and gas for decades, and the U.A.E. says its fuels are the best for the climate by using renewable energy to power some of its oil-and-gas production and is investing in carbon-capture technology.
ITS NOT AN EASY FIX
At the end of the day, it's up to each nation, through their voluntary pledges, to decide how to make the energy transition from carbon to renewables.
But even if we take dramatic action, it could take decades before cuts to greenhouse gases actually affect global temperatures.
To end with some hope: The UN says it is still possible to hold global warming to relatively safe levels, it just will require global cooperation, lots of money and big changes.
⏳ SPEED READ
🚨NATION
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🌎 AROUND THE WORLD
📌 US Air Force Osprey crashes off Japan during training, killing at least one of the eight on boar (AP)
📌 Israeli military speaks to Bibas family after Hamas claims mom, 2 kids killed in strikes (CBS NEWS)
📌 NATO vows to stick with Ukraine ‘as long as it takes’ (POLITICO)
📌 Court clears France's justice minister of conflict of interest following an unprecedented trial (FOX NEWS)
📱BUSINESS, SCIENCE & TECH
📌 No, you don’t need to turn off Apple’s NameDrop feature in iOS 17 (WIRED)
📌 Americans' savings are dwindling, new poll shows (AXIOS)
📌 "Zoom fatigue" may affect the brain and heart, study finds. An expert explains how to prevent it (CBS NEWS)
📌 UAW launches union campaigns at Tesla, 12 other automakers in the U.S. (CNBC)
🎬 SPORTS & ENTERTAINMENT
📌 Taylor Swift is Spotify’s most-streamed artist of 2023, ending Bad Bunny’s 3-year reign (AP)
📌 Mark Cuban selling majority stake in Dallas Mavericks to casino tycoons (PEOPLE)
📌 Marvel actor Jonathan Majors' trial begins in New York City, after numerous delays (NPR)
📌 Rockefeller Christmas tree lighting 2023 (NBC)
🗓 ON THIS DAY: NOVEMBER 30
1782: Britain and the United States signed the preliminary articles of the Treaty of Paris as part of the Peace of Paris, a collection of treaties concluding the American Revolution.
1940: Lucille Ball and Desi Arnaz, stars of the popular American comedy sitcoms, I Love Lucy and The Lucy and Desi Comedy Show, married in real life. They were married for 20 years.
1982: Michael Jackson released his sixth studio album 'Thriller'.
1993: "Schindler's List", American historical drama film directed by Steven Spielberg, premieres in Washington, D.C.
It went on to win the Academy Awards for Best Picture in 1994.