
Legal Risks Seen Accelerating Nations' Climate Adaptation Plans
Save
Countries that fall short in efforts to limit global warming to 1.5°C face growing legal risks that could push them to accelerate climate adaptation efforts.
The threat of lawsuits now looms over companies and governments that don't take aggressive climate action, following an advisory opinion from the International International Court of Justice, said Winston Chow, a professor of urban climate at Singapore Management University.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
2 hours ago
- Yahoo
Oil Traders Race Against Time to Solve Global Diesel Crunch
(Bloomberg) -- The oil market is pulling all the levers it can to ease a global diesel crunch, but the window is narrowing to replenish stockpiles of the world's workhorse fuel before hurricanes and refinery maintenance curtail output. All Hail the Humble Speed Hump Mayor Asked to Explain $1.4 Billion of Wasted Johannesburg Funds Three Deaths Reported as NYC Legionnaires' Outbreak Spreads Major Istanbul Projects Are Stalling as City Leaders Sit in Jail PATH Train Service Resumes After Fire at Jersey City Station From the US Gulf Coast to Rotterdam and Singapore, storage tanks have only recently started rising from dramatically low levels, and traders say it's going to be a tight race to refill them. With price spikes during the Israel-Iran conflict fresh in the memory, most say it's hard to see a major easing, echoing warnings from Goldman Sachs Group Inc. and energy giant TotalEnergies SE. The fate of the fuel has wide-reaching ramifications for the global economy. Higher prices can ripple through inflation readings and dent consumer and business confidence at a time when US President Donald Trump's tariff wars also raise costs. American farmers will need large volumes of diesel to power their tractors and grain dryers during harvesting season in the fall, and drivers are already paying the most at the pump in about a year. Meanwhile, Trump's push to punish India for processing Russian crude into much needed global diesel supplies leaves Europe particularly vulnerable. The continent has become more dependent on fuel from further afield after direct imports from nearby Russia were banned. 'We're bullish for the end of the year,' said Rami Ramadan, co-head of global middle distillates at commodity trader BB Energy. 'We are going to be in for some shocks for sure because of how Europe has been disconnected from its closest sources of supply.' US stockpiles of diesel's family of fuels — used in everything from locomotives and trucks to power generation and heating — plunged to their lowest summer levels this century. While inventories should normally build over the summer, longer-term factors have made things more acute in the last few years. A slew of plant closures in the US and Europe since the Covid-driven oil market crash has tightened supplies in key hubs. Even as high margins lead refiners like Phillips 66 and Valero Energy to maximize diesel output, US inventories have only in recent weeks inched past the critical lows seen in the summer of 2022, just after Moscow's invasion of Ukraine. In Europe buyers await tankers from the Middle East and Asia. In northwest Europe, stockpiles are forecast to be 3 million barrels lower in the fourth-quarter than a year earlier. After touching the equivalent of $110 a barrel following Israel's air strikes on Iran, prices have retreated closer to $90. Diesel's strength over the summer helped support crude prices while OPEC+ restored production faster than initially planned. Before the war in Ukraine, European diesel seldom traded $15 a barrel above Brent crude. Ever since, it has rarely traded at less than that. The spread, known in market parlance as a crack, is currently above $20 in Europe and around $30 in the US. Goldman Sachs expects both spreads to stay near current levels into 2026 'on continuing structural tightness in refining capacity,' and TotalEnergies said stronger diesel prices will become a 'persistent feature' of the global oil market. 'Heading into hurricane season, if we have some type of supply disruption, I think you'll see a pretty significant market reaction with inventories as low as they are,' Gary Simmons, executive vice president and chief operating officer at Valero, said on an earnings call. 'We expect diesel cracks to remain strong.' Diesel is part of a group of refined products known as middle distillates, which includes jet fuel and heating oil. High demand from the aviation sector has also tightened the balance of supplies, and a cold winter could do the same. 'Over the next three to four months, we're quite constructive on diesel cracks being sustained at levels similar to where they're at today,' Marathon Petroleum Corp.'s Chief Commercial Officer Rick Hessling said on an earnings call, adding that trucking and agriculture demand is 'very healthy.' Hedge funds have rushed into bullish oil and diesel bets in recent weeks as Trump threatened additional levies on buyers of Russian crude. Money managers' net long position in US diesel futures was at the highest in almost four years, according to US Commodity Futures Trading Commission data released in the first week of August. Those bets so far haven't paid off, with diesel and crude futures dropping this week after OPEC+ announced a supply increase over the weekend and traders wait to see how Trump's approach to Russia pans out. Not all traders are bullish, though, as there has been some relief in the past few weeks. As well as stockpiles showing signs of recovering, more diesel and jet fuel cargoes left Asia and the Middle East for Europe in July than any time in the last 11 months, according to Kpler data. One diesel-laden supertanker of 2 million barrels is currently sailing to Europe, and another has been booked, according to a person involved in the flows, adding momentum to the resupply. 'One of the things we're doing is watching the Mideast and India, where the global net-distillate length exists for potential imports into Europe,' Brian Mandell, executive vice president of marketing and commercial at Phillips 66, said on an earnings call. Mandell said that prices are likely to eventually ease as the Organization of the Petroleum Exporting Countries and its partners add extra supplies of heavy crude that's better for making diesel. But it takes time for the group to go from targets to actual production, and then for the barrels to be shipped, processed into diesel and finally reach the fuel's buyers. 'We would think that distillate margins will remain strong through the year, eventually coming off some when you get these extra barrels — heavy crude barrels — back onto the market,' he said. --With assistance from Devika Krishna Kumar, Jack Wittels, Rachel Graham, Archie Hunter and Prejula Prem. (Updates with hedge fund positioning in 14th paragraph.) The Pizza Oven Startup With a Plan to Own Every Piece of the Pie Russia's Secret War and the Plot to Kill a German CEO AI Flight Pricing Can Push Travelers to the Limit of Their Ability to Pay A High-Rise Push Is Helping Mumbai Squeeze in Pools, Gyms and Greenery Government Steps Up Campaign Against Business School Diversity ©2025 Bloomberg L.P.
Yahoo
2 hours ago
- Yahoo
Tao of Trading to Reveal How to Spot Market Shifts Before They Happen in Free Live Online Event
Singapore, Singapore , Aug. 07, 2025 (GLOBE NEWSWIRE) -- For investors and traders seeking to avoid costly market surprises, a timely opportunity is on the horizon. On Thursday, August 14, former Goldman Sachs executive, Tao of Trading Founder and best-selling author Simon Ree will host a free live online training designed to help everyday investors anticipate market shifts before they happen - not after. The online event, hosted by Tao of Trading, is titled:'Markets don't move without warning - they whisper before they roar,' says Ree. 'In this session, I'll show you how to tune into those early signals so you can stay ahead of the crowd.' This live training is designed for anyone who wants to: Detect subtle but powerful shifts in market internals before they hit the headlines Avoid common traps and false moves that catch most traders off guard Use simple, proven tools to trade with greater confidence, clarity, and consistency Position ahead of emerging trends rather than chasing them in hindsight Event DetailsThursday, August 14, 20258am EST | 1pm BST | 8pm SGTFree registration now open at About Tao Of Trading Simon Ree is the founder of Tao of Trading and the author of the bestselling book The Tao of Trading. With over 30 years of experience in global financial markets - including senior roles at Goldman Sachs and Citibank - Simon has taught thousands of people around the world how to build wealth and protect capital through disciplined, intelligent trading. Through Tao of Trading, Ree leads a growing global community of traders who value authenticity, risk management, and consistent execution over hype and speculation. His programs and proprietary tools help students navigate the markets with clarity and purpose — whether they're trading for income, retirement, or financial independence. Press inquiries Tao Of Trading Jasmine Tang info@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data


Associated Press
2 hours ago
- Associated Press
Tao of Trading to Reveal How to Spot Market Shifts Before They Happen in Free Live Online Event
Singapore, Singapore , Aug. 07, 2025 (GLOBE NEWSWIRE) -- For investors and traders seeking to avoid costly market surprises, a timely opportunity is on the horizon. On Thursday, August 14, former Goldman Sachs executive, Tao of Trading Founder and best-selling author Simon Ree will host a free live online training designed to help everyday investors anticipate market shifts before they happen - not after. The online event, hosted by Tao of Trading, is titled: 'How To Spot Market Shifts Before They Happen: Discover the Signals Most Traders Miss' 'Markets don't move without warning - they whisper before they roar,' says Ree. 'In this session, I'll show you how to tune into those early signals so you can stay ahead of the crowd.' This live training is designed for anyone who wants to: Event Details Thursday, August 14, 2025 8am EST | 1pm BST | 8pm SGT Free registration now open at About Tao Of Trading Simon Ree is the founder of Tao of Trading and the author of the bestselling book The Tao of Trading. With over 30 years of experience in global financial markets - including senior roles at Goldman Sachs and Citibank - Simon has taught thousands of people around the world how to build wealth and protect capital through disciplined, intelligent trading. Through Tao of Trading, Ree leads a growing global community of traders who value authenticity, risk management, and consistent execution over hype and speculation. His programs and proprietary tools help students navigate the markets with clarity and purpose — whether they're trading for income, retirement, or financial independence. Press inquiries Tao Of Trading Jasmine Tang [email protected]