Latest news with #ParisClimateAgreement
Al Etihad
12 hours ago
- Business
- Al Etihad
TRENDS participates in Glacier Conservation Conference in Tajikistan
31 May 2025 10:53 ABU DHABI (ALETIHAD)TRENDS Research & Advisory participated in a high-level international conference on glacier conservation, which was held in Dushanbe, conference was inaugurated by Emomali Rahmon, President of the Republic of Tajikistan.A delegation from TRENDS represented the centre at the conference, led by senior researcher Abdulaziz Al Shehhi, deputy head of the research Shehhi delivered a speech on behalf of TRENDS CEO Dr. Mohammed Al Ali, in which he underscored that melting glaciers represent one of the most alarming consequences of climate change. He emphasised the urgent need to strengthen international cooperation, and reaffirm commitment to implementing global agreements, such as the 2015 Paris Climate Agreement and the landmark UAE declaration issued at Mohammed Al-Ali emphasised that transitioning to renewable energy represents a strategic response to global warming. He highlighted the need to scale up renewable energy production, and to enhance energy efficiency by 2030, in line with the targets of the COP28 Conference. The UAE as a ModelThe UAE is a pioneering model of adopting renewable energy projects. It plans to use 44% of its energy from renewable sources by 2050, with investments of up to $163 billion in solar technologies and sustainable development initiatives. Dr. Al Ali highlighted some key undertakings, such as Masdar City, the world's first carbon-emission-free city; the three largest operational solar power plants globally, with a fourth under construction; and the world's most prominent single-site solar collector. Research InstitutionsDr. Mohammed Al-Ali, CEO of TRENDS, emphasised the pivotal role of research institutions in offering innovative policy recommendations, and in supporting international efforts to address climate change. He reaffirmed TRENDS' commitment to advancing research and studies that contribute to realising global sustainability objectives. Dr. Al-Ali also appreciated the government of Tajikistan hosting this vital conference. He expressed hope that its outcomes would significantly advance global climate action and the protection of the planet for future generations. TRENDS' participation stems from its mission, which is based on supporting knowledge and innovation. Source: Aletihad - Abu Dhabi
Saba Yemen
a day ago
- Science
- Saba Yemen
Study: Half world's population experienced extra month of extreme heat due to climate change
London - Saba: Half the world's population experienced an extra month of extreme heat last year due to human-caused climate change, according to a new study published on Friday. The study found that continued burning of fossil fuels is harming health and well-being on every continent, noting that the impacts are often under-recognized in developing countries, according to Reuters. "With every barrel of oil burned, every ton of carbon dioxide released, and every fraction of a degree of warming, heatwaves will affect more people," said Friederike Otto, a climate scientist at Imperial College London and co-author of the report. The analysis, conducted by scientists at World Weather Attribution, Climate Central, and the Red Cross Red Crescent Climate Center, was published days before World Heat Action Day on June 2, which this year highlights the risks of heat stress and heatstroke. To analyze the impact of global warming, the researchers examined the period from May 1, 2024, to May 1, 2025. They defined "extreme heat days" as days with temperatures exceeding 90 percent of those recorded in the same location from 1991 to 2020. Using a simulation approach whose results were reviewed by independent analysts, the study authors compared the number of extreme heat days recorded with the number in a hypothetical world unaffected by human-induced warming. The results were shocking: nearly 4 billion people, or 49% of the world's population, experienced at least 30 more days of extreme heat than a world without climate change. The team monitored 67 extreme heat waves during the year, finding the signature of climate change in every one. The Caribbean island of Aruba was the hardest hit, recording 187 days of extreme heat, 45 more than would have been expected without climate change. This study follows a year that set unprecedented global temperatures. 2024 was the hottest year on record, surpassing 2023, and January 2023 was the hottest January ever. On average, global temperatures are now 1.3°C above pre-industrial levels, and in 2024 alone, they exceeded the symbolic limit set by the Paris Climate Agreement by 1.5°C. The report also highlighted the lack of data on the health impact of heat, particularly in low-income countries. While Europe recorded more than 61 heat-related deaths in the summer of 2022, there is no comparable data for other regions, and heat-related deaths are often attributed to heart or respiratory diseases. The researchers emphasized the importance of early warning systems, public awareness, and city-specific climate action plans. Improved building design, including shading and ventilation, and behavior modification, such as avoiding strenuous activities during peak heat, are also essential. However, adaptation alone will not be enough. The study authors warned that the only way to halt the increasing intensity and frequency of extreme heat is to rapidly phase out fossil fuels. Whatsapp Telegram Email Print
Newsweek
2 days ago
- Business
- Newsweek
These Are the World's Greenest Financial Institutions
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. Amid the world's growing climate crisis, experts predict global temperatures will continue to rise, reaching about 2.7 degrees Celsius above pre-industrial levels by 2100. Increased greenhouse gas emissions and pollution will lead to more extreme weather, drought and crop failure. As the situation becomes more dire, companies around the world are taking steps to mitigate their impact on the environment. Newsweek recently compiled the World's Greenest Companies 2025 ranking, in partnership with market data research firm Plant-A Insights and GIST Impact, a globally recognized impact intelligence provider that measures and quantifies corporate impact via a team of scientists, engineers, data scientists and environmental economists. This list highlights the top 750 companies across 26 countries that are committed to improving their environmental sustainability to decrease their impacts on climate change. The companies included on the list received a 4-, 4.5- or 5-star rating based on the applied criteria. Companies were evaluated based on their greenhouse gas emissions, water usage, waste generation and other public commitments and disclosures. Only operational emissions (Scopes 1 and 2) were included for this ranking. Scope 3 upstream or downstream emissions were not taken into account. The companies were also screened based on the exclusion criteria in the European Union Paris-Aligned benchmarks which exclude companies with activities related to controversial weapons, tobacco production, nuclear weapons or nuclear energy and those that derive a certain percentage of revenue from the exploration, extraction, distribution and/or manufacturing of oil fuels, gaseous fuels, hard coal or lignite or CO 2 . Newsweek's ranking includes companies across 75 industries. One of the most represented industries in the ranking was financial institutions. Other top industries included consulting services, manufacturing, construction, IT services, pharmaceuticals and retail. (As a disclaimer, the methodology acknowledges that each industry has its own distinct characteristics and emissions profiles.) Plant A notes in its methodology that certain industries are naturally more polluting than others, but this should not diminish the recognition of companies within these sectors that are actively working to reduce their environmental impact. Companies are, therefore, evaluated based on their performance relative to the average within their respective industry. Many of these companies are part of the United Nations' Net-Zero Banking Alliance (NZBA), a 2021 global member-led initiative of banks committed to reaching net-zero emissions by 2050, in alignment with the Paris Climate Agreement. Of the 26 countries in the ranking, 10 had a large share of the representation. Below are the top-rated financial institutions in the most represented countries in the World's Greenest Companies ranking. Photo-illustration by Newsweek/Getty FRANCE France had 50 companies on the list. In addition to companies in food and beverage manufacturing and luxury retail, the top-rated financial institutions include AXA, BNP Paribas, CNP Assurances, Crédit Agricole and Edenred. GERMANY There are 40 German companies on the list, mostly in the financial, manufacturing and transportation sectors. Aareal Bank, Allianz, Deutsche Bank, Munich Re and Talanx are the top financial institutions in the ranking. INDIA Thirty-two companies on the list are headquartered in India. Among them are leaders in the IT services, transport, consulting and hospitality industries. There are several 4.5-star banks and other financial institutions in India in the ranking. These include Infosys, Aditya Birla Capital, ICICI Bank, IIFL Finance and L&T Finance. ITALY Among the 29 Italian companies on the list, textiles and apparel, retail, IT and electronic manufacturing were popular industries. Italy's top financial institutions include Banco BPM, Credito Emiliano, FinecoBank, Intesa Sanpaolo, Mediobanca Banca di Credito Finanziario and UniCredit. Fiona Melrose, the head of group strategy and ESG at UniCredit, told Newsweek that the bank is committed to reaching net zero emissions by 2030 and is making "tangible and consistent progress" to cut greenhouse gas emissions by procuring its own electricity from renewable sources and improving the energy efficiency of its premises and data centers. "We have outlined targets for seven of our most carbon-intensive client sectors, including an industry-leading phase-out policy for coal, as we continue to embed ESG in our financing activities and implement our net zero transition plan," Melrose said in an emailed statement. "As part of this, we have also committed to specific ESG penetration targets for our lending, investment products and sustainable bonds, all of which are designed to help our clients progress with their own transition plans." JAPAN Japan had the second most companies included in the ranking, with 69. Electronics and machinery manufacturing and pharmaceuticals were among the most represented. Japan's top financial institutions include Daiwa Securities, Mizuho Financial Group, MS&AD Insurance Group Holdings, Nomura Holdings and Tokio Marine Holdings. SPAIN Spain has 28 companies on the list in industries like IT, entertainment, construction, renewable energy and manufacturing. Banco Bilbao Vizcaya Argentaria (BBVA), Banco de Sabadell, Santander Bank and Bankinter are the top financial institutions. Bankinter told Newsweek that it has had an environmental and climate change policy and management system in place for nearly two decades that includes regular monitoring of environmental indicators, emission and consumption reduction targets and proper waste management. It also helps support clients, both individuals and businesses, in their decarbonization processes, to help transition to a low-emissions economy. Its strategic sustainability plan for 2024–2025 was inspired by the Sustainable Development Goals, the 2030 Agenda, regulatory requirements such as the EU Corporate Sustainability Reporting Directive (CSRD) and voluntary commitments like the Net-Zero Banking Alliance. "The benefits of such policies and targets include the development of new business opportunities with clients and new financial products with sustainability criteria that address clients' transformation needs," Bankinter told Newsweek in an emailed statement. "From a risk management perspective, considering climate and environmental risks and integrating them into the risk management system enhances resilience to potential issues affecting counterparties." The bank added that managing these issues effectively, performing well in sustainability and being recognized as one of the world's most sustainable banks is "highly valuable" from a reputation standpoint for clients and other stakeholders, such as employees and analysts. SWEDEN There are 24 Swedish companies featured in the ranking, in industries like manufacturing, IT services and retail. All three financial institutions listed have a 5-star rating: Swedbank, Skandinaviska Enskilda Banken (SEB) and Svenska Handelsbanken. Swedbank's ambition is to reach net-zero greenhouse gas emissions by 2050, aligning its lending and investment portfolios with the 1.5-degree target. By 2030, decarbonization targets are in place for six key sectors — addressing both exposure and climate impact. The bank also aims to triple its volume of sustainable finance by 2027, compared to a 2022 baseline. To support this transition, Swedbank continues to expand its offering of sustainable financing products and services. In 2024 alone, the bank's Sustainable Asset Register grew by 73 percent. "As a bank with a vital role in society, Swedbank sees sustainability as central to our long-term strategy," Swedbank's head of sustainability, Johanna Fager Wettergren, told Newsweek in an emailed statement. "With financial health and the energy transition as key focus areas, sustainability is embedded across our operations. Swedbank and our customers share a strong commitment to advancing the sustainability transition. Our commitment is steadfast—and now is the time to accelerate." SWITZERLAND Nestlé, Logitech and Novartis are some of the 36 companies in Switzerland in the Greenest Companies ranking. There are a range of industries represented, like electronics, iron, steel, food manufacturing and pharmaceuticals. The top financial institutions include Julius Bär, St. Galler Kantonalbank, Swiss Life Holding, Swiss Re, Union Bank of Switzerland (UBS) and Zurich Insurance. "At UBS, we are guided by our ambition to be a leader in sustainability," the bank told Newsweek in an emailed statement. "This is reflected in our vision to be the bank for the next generation. We support our clients in the transition to a low-carbon world and embed considerations of climate risks and opportunities into our firm for the benefit of our stakeholders. We have drawn up a climate transition plan for UBS, including our overarching climate approach as well as specified policies, guidelines, frameworks, targets and actions." UNITED KINGDOM The U.K. has the third most companies listed in the ranking. The 64 companies are in industries like rail logistics, consulting services, entertainment and food and beverage manufacturing. Aviva, Barclays, HSBC, Lloyds Banking Group, NatWest Group, Paragon Banking Group, Standard Chartered and Virgin Money are the U.K.'s top financial institutions. UNITED STATES OF AMERICA The U.S. tops the list with over 230 companies in the ranking, including companies in industries like consulting, manufacturing, IT, health care, pharmaceuticals and retail. The financial institutions include banks as well as credit card, investment and insurance companies like American Express, Apollo Global Management, Bank of America, Bread Financial, Cboe Global Markets, Elevance Health, Goldman Sachs, The Hartford Financial Services, Horace Mann Educators, Humana, Invesco, LPL Financial, Mastercard, MetLife, Nasdaq, Principal Financial, State Street, Unum and Visa. Bank of America and Goldman Sachs, however, are two of the six U.S. banks that left the Net-Zero Banking Alliance after Donald Trump was elected president in November 2024. Chief Sustainability Officer at Mastercard Ellen Jackowski told Newsweek in a statement that "a thriving economy depends on a healthy planet." "Our path to net zero by 2040 involves not just transforming our operations and supply chain to decouple growth from emissions but creating innovative solutions that can empower our partners to reduce waste and pollution too," she said in an emailed statement. "Advancing environmental sustainability is fundamental to how we define success." Other countries on the list include Australia, Austria, Belgium, Canada, Denmark, Finland, Netherlands and Singapore, with 10 to 20 companies represented. Austria, Belgium, Greece, Ireland, Israel, Norway, Portugal, Qatar, Saudi Arabia and the United Arab Emirates all had less than 10 companies listed. Some of the other top-rated financial institutions include Bank of Montreal, Danske Bank, DNB Bank, Qatar National Bank, Suncorp Group and Great Eastern.
News18
3 days ago
- Business
- News18
From Frenemy To Fanboy To Fallout: Elon Musk's Rollercoaster Ride With Trump Explained
Last Updated: Elon Musk is set to exit the Trump administration. The duo were not besties since ever as they hurled insults at each other until some years ago. Tesla CEO Elon Musk is set to exit the Donald Trump administration as his term comes to a close by the end of May. A lot took place during his short tenure as a government employee, as his much-talked-about bromance with the US President appeared to sour towards the end of his term. Nonetheless, he expressed gratitude to Trump for giving him the opportunity to reduce wasteful spending in the government. 'As my scheduled time as a Special Government Employee comes to an end, I would like to thank President @realDonaldTrump for the opportunity to reduce wasteful spending. The @DOGE mission will only strengthen over time as it becomes a way of life throughout the government," Musk posted on X, announcing his exit. After his victory in the 2024 Presidential election, Trump announced Musk to lead the Department of Government Efficiency, DOGE, as a 'Special Government Employee", which allows a person to work in the government capacity for 130 days a year. advetisement Since the January 20 inauguration, Musk has worked closely with Trump to reduce government spending. However, lately he has had some public disagreements with Trump, including the law proposed by the government, which Trump dubbed a 'big beautiful bill". Musk's relationship with Trump has not been rosy since ever, with the duo hurling insults at each other not too long ago, until the Tesla CEO ended up endorsing Trump as a candidate for the US President last year. A look at how critics turned 'besties" and then the ultimate fallout. Pre-Trump-Musk Bromance Era In 2016, Musk was not the biggest fan of his future bestie, as he publicly said that Trump was not fit to run for the US President. 'I feel a bit stronger that he is not the right guy. He doesn't seem to have the sort of character that reflects well on the United States," Musk had told CNBC during an interview at that time. However, his doubts didn't seem to last long. Just a month after Trump won his first election, Musk was appointed to an economic advisory council by Trump, along with Uber CEO Travis Kalanick. In June 2017, the duo's professional relationship took a hit after Trump announced that the US would be withdrawing from the Paris Climate Agreement, as Musk went on to tender his resignation from his positions on the presidential advisory boards. 'Am departing presidential councils. Climate change is real. Leaving Paris is not good for America or the world," Musk then tweeted. 2022 saw see-saw remarks by Trump about Musk as he described Musk as one of the world's 'great geniuses" in January that year, while also likening him to Thomas Edison. However, by July, Trump flipped his stance to refer to Musk as 'another bulls*** artist". Advertisement While speaking about free speech at a rally in Anchorage, Alaska, Trump talked about Musk's promise to buy the social media platform formerly known as Twitter. 'Elon is not going to buy Twitter… he said the other day 'Oh, I've never voted for a Republican'. I said 'I didn't know that'. He told me he voted for me. So he's another bulls*** artist," Trump said. Musk responded to the video clip, 'I don't hate the man, but it's time for Trump to hang up his hat & sail into the sunset." By October, Musk officially completed the acquisition of Twitter. Timeline Of Musk's Tenure With Trump By September 2023, Musk started aligning himself with Trump's policies, including those on immigration. He spoke in favour of a US border wall with Mexico, which was a hot topic during the election campaign. advetisement 'We actually do need a wall and we need to require people to have some shred of evidence to claim asylum to enter, as everyone is doing that…" Musk said. In March 2024, Musk had said that he would not donate to either candidate in the presidential election. However, in July, when Trump survived an assassination attempt at a rally in Butler, Pennsylvania, the billionaire extended support to Trump. Soon after bullets were fired at Trump, during which he suffered injuries to his right ear, Musk endorsed the Republican leader and committed nearly $45 million a month to a new pro-Trump super PAC called America PAC. In October 2024, Musk made his first public appearance with Trump at a rally and jumped onto the stage, donning a black 'Make America Great Again' cap. 'As you can see, I'm not just MAGA — I'm dark MAGA," he told the crowd. advetisement Musk has also attended the Cabinet meetings chaired by Trump, during which he detailed the work being done by his department to cut down spending. He had joined the administration with a promise to cut at least $1 trillion from the US federal budget. However, according to the DOGE website, it has only saved around $175 billion so far — which comes out to about $1,088.96 for each US taxpayer. During the first Cabinet meeting in February this year, he even claimed that he was getting death threats for the work they were doing for the department. 'I'm taking a lot of flak and getting a lot of death threats, by the way. We simply cannot sustain, as a country, $2 trillion deficits," he had said. Tesla Boycott After Musk joined Trump's second term as DOGE chief, his department either fired or offered early retirement deals to around 100,000 federal workers. It also gained access to the private personal and financial details of millions of Americans. As Musk became a firm voice of the administration, Tesla bore the brunt as its facilities across the country faced protests and vandalism. Thousands of citizens hit the roads in parts of the US, launching 'Tesla Takedown" protests – many of them were peaceful, however, some were even violent with fires intentionally set at Tesla showrooms and charging stations in Colorado and Massachusetts. Hundreds of protesters had also occupied a Tesla showroom in New York, leading to the arrest of six persons. Trump-Musk Fallout Musk had recently expressed his 'disappointment" with the Trump administration's main legislative plan, which the President described as a 'big beautiful bill". This legislation included tax cuts and tougher immigration policies. In a CBS interview, Musk described it as a 'massive spending bill" that he believed would increase the national debt and hurt the progress his DOGE team had been working on. 'I think a bill can be big or it could be beautiful. But I don't know if it could be both," Musk said. Reacting to Musk's remarks, Trump still backed the bill, stating, 'I'm not happy about certain aspects of it, but I'm thrilled by other aspects of it." top videos View All Sources earlier told Mediate that Trump is now becoming 'annoyed" with his 'first buddy" after Musk engaged in a public spat with other members of the MAGA over H1B visas. '100 percent Trump is annoyed," a source who worked on Trump's re-election campaign told the outlet earlier this year. Watch India Pakistan Breaking News on CNN-News18. Get breaking news, in-depth analysis, and expert perspectives on everything from geopolitics to diplomacy and global trends. Stay informed with the latest world news only on News18. Download the News18 App to stay updated! tags : donald trump elon musk Location : Washington D.C., United States of America (USA) First Published: May 29, 2025, 07:50 IST News world From Frenemy To Fanboy To Fallout: Elon Musk's Rollercoaster Ride With Trump Explained
Yahoo
3 days ago
- Business
- Yahoo
WMO forecasts record hot global temperature within next five years
May 28 (UPI) -- Global warming is expected to send temperatures soaring at or near record levels over the next five years, according to a Wednesday report from the World Meteorological Organization. The WMO report said there's an 86% chance that at least one of the next five years will exceed the Paris Climate Agreement goal of 1.5 degrees Celsius, or 2.7 degrees Farenheit, above the 1850-1900 global temperature average. There's an 80% chance that at least one of the next five years will surpass 2024 as warmest on record. The WMO report said global temperatures "are expected to continue at or near record levels in the next five years, increasing climate risks and impacts on societies, economies and sustainable development." "We have just experienced the ten warmest years on record. Unfortunately, this WMO report provides no sign of respite over the coming years, and this means that there will be a growing negative impact on our economies, our daily lives, our ecosystems and our planet," WMO Deputy Secretary-General Ko Barrett said in a statement. The report forecast a 70% chance that the 2025-2029 five-year-average warming will be more than the 2.7 degrees Farenheit threshold. That's up from the 47% chance forecast in last year's report for the 2024-2028 period. In the 2023 report it was 32%. The report's data indicates a higher risk of climate-change intensified storms, wildfires, floods and drought. "Every additional fraction of a degree of warming drives more harmful heatwaves, extreme rainfall events, intense droughts, melting of ice sheets, sea ice, and glaciers, heating of the ocean, and rising sea levels," the WMO said. The WMO report follows the hottest 10 years ever on Earth. The rapid warming of the Earth includes Arctic warming over the next five extended winters, which is expected to be more than three and a half times the global average. The chance of seeing a global temperature rise of 3.6 degrees Fearenheit before 2030 is about 1%, but it was previously considered impossible. "It is shocking that 2C is plausible," Adam Scaife of the Met Office, which played a leading role in compiling the data, said it was "shocking" that reaching that temperature was plausible. "It has come out as only 1% in the next five years but the probability will increase as the climate warms," he said.
