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News That Matters

20/03/2023 ---- 21/03/2023

Climate change is one of the most pressing issues facing humanity today. It has far-reaching implications for our environment, ecosystems, and the survival of future generations. At the forefront of efforts to understand and mitigate climate change is the Intergovernmental Panel on Climate Change (IPCC), a scientific body established in 1988 under the United Nations. The IPCC is responsible for providing a comprehensive and objective assessment of the current state of knowledge on climate change, its potential impacts, and strategies for adaptation and mitigation. Recently, the IPCC released a crucial report, the sixth assessment report (AR6), which provides a sobering analysis of the current state of the climate crisis and the urgent need for action. The AR6 synthesizes six critical pieces of research completed over the past five years, and its findings are deeply concerning.

According to the report, the world is on the brink of irrevocable damage due to rising greenhouse gas emissions. The goal of limiting global temperature increase to 1.5°C above pre-industrial levels, as agreed upon by governments worldwide, is becoming increasingly difficult to achieve. As of now, global temperatures have already risen by 1.1°C, and experts predict that we are likely to breach the 1.5°C threshold in the 2030s, despite numerous political commitments. The report highlights that the key focus should be mitigating the effects of overshooting the 1.5°C target and reversing course as quickly as possible. Overshooting is risky, as it could trigger irreversible tipping points, such as the melting of permafrost, which would release vast amounts of warming gases. The world will require expensive and unproven technologies to come back from overshooting, such as carbon capture, to remove CO2 from the atmosphere.

The IPCC report also emphasizes that continuing fossil fuel use, including coal, oil, and gas, is incompatible with a sustainable future for our planet. Renewable energy sources like wind and solar are not only becoming more affordable. Still, they are also crucial in mitigating climate change. Governments must act urgently to phase out fossil fuels and transition to low-carbon energy systems. One of the report's key messages is that individual actions can make a significant difference in addressing climate change. The IPCC encourages people to adopt more sustainable lifestyles by shifting to plant-based diets, reducing air travel, and promoting walkable and bikeable cities. Governments are crucial in making these low-carbon choices more accessible and affordable for individuals. The decisions we make today will have lasting effects for thousands of years. The report warns that sustained warming between 2 and 3°C would lead to the irreversible loss of the Greenland and West Antarctic ice sheets over multiple millennia. Additionally, other climate tipping points would be crossed at lower levels of warming, impacting glaciers and vital ecosystems. To avoid the catastrophic consequences of climate change, governments must increase their commitments before 2030 and achieve net-zero emissions by 2050. This would help keep global warming within or around 1.5°C by 2100. The situation's urgency cannot be overstated, as our climate and social systems are already under significant strain.

The AR6 report serves as a scientific guide and a political tool in the ongoing debate on climate action. The future of fossil fuels is increasingly becoming a political issue, with some countries pushing for the phase-out of oil and gas in addition to coal. The IPCC report will play a central role in discussions at the upcoming COP28 in Dubai, where nations will convene to discuss further climate commitments. In conclusion, the IPCC's sixth assessment report is a stark reminder of the urgent need for action on climate change. Governments, industries, and individuals must work together to reduce greenhouse gas emissions rapidly, transition to low-carbon energy sources, and adopt more sustainable lifestyles. The future of our planet and the well-being of generations depend on the choices we make today. As the IPCC report demonstrates, the time to act is now. Only through collective and decisive action can we hope to avert the most catastrophic consequences of climate change.

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As global inflation continues to be a pressing concern, the United States took bold steps with the Inflation Reduction Act (IRA) to curb inflation and drive green investments, passed on August 16, 2022. The United States introduced the IRA to combat inflation and reshape the economy by promoting green investments. The act, a part of President Joe Biden's "Build Back Better" agenda, allocates a whopping $369 billion to climate and energy policies. While the act has been lauded for its focus on the environment, it has also attracted concerns across the Atlantic. This move is raising eyebrows in the European Union, as member countries worry about the potential impact on their economies and industries.

The European Union, already dealing with the consequences of the Inflation Reduction Act, is worried about the potential impact on its economy and industries. European companies are considering relocating to the US to take advantage of the IRA's generous subsidies. This has led to calls within the EU for a swift response to stabilize the situation. EU Commission President Ursula von der Leyen has announced plans for a new Net-Zero Industry Act to rival the IRA, targeting green industries and promoting European cleantech innovation. This proposed legislation underscores the EU's determination to protect its economy and growing green sector. The EU also aims to cut red tape, streamline regulatory processes, and increase green investments to maintain competitiveness. A nation that is being mainly put under pressure by the IRA is Germany, as German companies are considering investing more heavily in the United States. There are concerns about what this could mean for the EU's economy. Several projects in Germany have been delayed or put on hold due to the IRA's subsidies, raising questions about the future of the EU as an attractive location for green investments. While some experts argue that there is no immediate threat to the EU's industrial sector, the IRA has undeniably increased competition.

In response to the IRA, the EU is considering countermeasures, including more freedom for member states to provide subsidies. However, this has also led to fears of a "subsidy spiral" that could prove detrimental in the long run. The ongoing energy crisis, fueled partly by the conflict in Ukraine, has put additional pressure on the EU, favouring the US in the green investment race. This development further complicates EU-US relations and could have significant repercussions for the two economies. While the future remains uncertain, it is clear that both the EU and the US are locked in a battle for green investments and dominance in the clean tech sector. The outcome of this struggle will depend on how each bloc navigates the challenges ahead and the strategic decisions they make in the coming years. The Inflation Reduction Act has sparked global competition for green investments. The European Union strives to counterbalance its impact on their industries and economy. As the energy crisis unfolds and the race for green dominance continues, the future of EU-US relations and the global green economy hangs in the balance.

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The ongoing war in Ukraine has been a source of tension between the European Union (EU) and Russia in recent months. Despite efforts from China to broker peace talks, the conflict shows no signs of ending. Tensions between the US and Russia are escalating, with both presidents publicly appearing on the issue. In this article, we summarise the main events from February 21 to today. To read about previous events, please follow our link below. On February 21, Russian President Vladimir Putin claimed that the West was responsible for "fueling the Ukrainian conflict" and announced that Russia would suspend its participation in the New START nuclear weapons treaty. NATO Secretary-General Jens Stoltenberg responded by accusing Putin of starting the war. Tensions continued to intensify at the United Nations (UN) as the 193-member UN General Assembly called for an end to the conflict. On February 24, the UN council voted on a resolution against Russia and Putin. On the same day, China released an individual initiative for conflict resolution with a proposal of 12 points, including respecting the sovereignty of all countries, abandoning the Cold War mentality, ceasing hostilities, resolving the humanitarian crisis, stopping unilateral sanctions, and keeping industrial and supply chains stable. On February 28, clashes between protesters and police erupted in Moldova's capital, Chisinau, and there were fears of a possible Russian plan to subvert the democratic order of the country and organize a coup d'état. Russia also accused the Ukrainian army of attempting to target civilian infrastructure through drone attacks on the northeastern Black Sea coast. Tensions were confirmed at the G20 meeting of Foreign Ministers, which took place from March 2 to March 4 in New Delhi. A panel of the Group of 20 on March 4 ended without a consensus on the Ukraine war as China joined Russia in refusing to support a demand for Moscow to cease hostilities. German Chancellor Olaf Scholz spoke about the conflict in a speech to the German Parliament, asking China not to help Russia with weapons.

On March 6, the head of Russia's Wagner private army complained about not getting the ammunition it needed from Moscow while Russian troops continued to try to seize the eastern city of Bakhmut from Ukraine. On March 9, Russia pounded Ukraine with missiles and endangered the Zaporizhzhia nuclear power plant by isolating it from the power grid. In weeks, the most significant Russian strikes on Ukraine killed at least six people and caused power outages nationwide. On March 17, the International Criminal Court (ICC) issued an arrest warrant against Putin over war crimes, focusing on the unlawful deportation of children from Ukraine to Russia since Moscow's invasion in 2022. The ICC cannot arrest suspects without cooperating with a country's government, but Mr Putin could now be stopped if he sets foot in any of the court's 123 member states. He is only the third president to be issued with an ICC arrest warrant. On March 20, China's President Xi Jinping visited Putin in Moscow to follow up on its previously declared role as a mediator in resolving the Ukraine crisis. The two leaders discussed China's 12-point position paper on the Ukraine conflict, which includes a call for dialogue and respect for all countries' territorial sovereignty. However, Western nations criticized China's proposals, saying they were heavy on grand principles but light on practical solutions.

In conclusion, the situation in Ukraine remains tense, with no clear resolution in sight. The conflict has not only affected Ukraine but has also strained relationships between major world powers. While some efforts to broker peace talks have been made, they have failed. The ongoing war in Ukraine is a significant international relations issue and is closely watched by the world community.

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