Thursday, October 24, 2024

The world set a climate goal. We’re blowing it.

Your guide to the political forces shaping the energy transformation
Oct 24, 2024 View in browser
 
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By Arianna Skibell

climate change

Left to right: Josh O'Connor/USFWS, Martin St-Amant/Wikipedia, Don Becker/USGS

Brace for climate catastrophe.

A new United Nations report says the world’s governments are falling far, far short of the goals they set themselves when it comes to cutting their greenhouse gas pollution. And time is rapidly running out to change course.

One of the report’s most striking findings: The odds of limiting global warming to 1.5 degrees Celsius above pre-industrial levels, the international target set by the 2015 Paris Agreement, are vanishing toward zero.

Instead, governments’ current policies and pledges will lead to a temperature rise of 2.6 to 3.1 degrees, write Zia Weise and Lucia Mackenzie.

It is difficult to underestimate how disastrous this level of warming would be. In the Paris Agreement, countries agreed to limit warming to “well below” 2 degrees, at which point scientists say humans face severe, cascading risks.

Each fraction of warming means an uptick in the severity and frequency of dangerous heat waves, storms, wildfires and other disasters. Scientists say 3 degrees could lead to the total collapse of numerous ecosystems such as the Amazon rainforest, rapid ice sheeting melting, mass coral bleaching, months-long heatwaves, droughts, floods and other potentially irreversible events.

“If nations do not implement current commitments then show a massive increase in ambition in the new pledges, followed by rapid delivery, the Paris Agreement target of holding global warming to 1.5C will be dead within a few years and 2C will take its place in the intensive care unit,” said Inger Andersen, the U.N. environment chief.

The warning comes as global leaders are slated to meet in Azerbaijan for the COP29 climate summit in a few weeks. Countries will be tasked with developing a plan to finance climate action in developing countries with an eye toward COP30 in Brazil next year. COP30 is the deadline for governments to submit new plans for how they will slash emissions to meet the Paris Agreement targets.

Anderson said today’s report means countries need “dramatically stronger” plans, increased funding for curbing planet-warming pollution and greater leadership from the largest polluters. The biggest are China, the United States and India, according to federal data.

The world is already 1.3 degrees hotter than before the Industrial Revolution. The main culprit is the use of fossil fuels for energy. Countries have agreed to transition away from fossil fuels – and yet carbon pollution from oil, coal and natural gas hit an all-time high last year.

 

It's Thursday  thank you for tuning in to POLITICO's Power Switch. I'm your host, Arianna Skibell.  Power Switch is brought to you by the journalists behind E&E News and POLITICO Energy. Send your tips, comments, questions to askibell@eenews.net.

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Listen to today’s POLITICO Energy podcast

Today in POLITICO Energy’s podcast: Annie Snider breaks downs how the Environmental Protection Agency misdirected hundreds of millions of dollars in federal funding for removing lead from drinking water systems, and how it’s a blow to the Biden administration’s climate and public health efforts.

Power Centers

Jay Inslee and Donald Trump

Democratic Washington Gov. Jay Inslee (left) and former President Donald Trump. | AP

Trump ignored disaster aid request from political rival
Then-President Donald Trump spent months ignoring repeated requests from Washington state for disaster aid following devastating wildfires in late 2020, amid a personal dispute with Democratic Gov. Jay Inslee, an investigation by Thomas Frank and Scott Waldman shows.

That finding — documented by internal emails, letters, federal records and interviews with people including Inslee — was part of a pattern of Trump using disaster requests to punish political foes, Thomas and Scott write. Their investigation comes as Trump has tried to turn the Biden administration's handling of Hurricanes Helene and Milton into an issue in the November election.

Inslee’s asked for $37 million in federal disaster aid after wildfires devastated eastern Washington state, displacing hundreds of rural residents and killing a 1-year-old boy.

Trump sat on Inslee’s request for the final four months of his presidency, delaying recovery and leaving communities unsure about rebuilding because nobody knew if they would get federal help. President Joe Biden finally approved the request two weeks after taking office.

Trump bites the hand that feeds
While campaigning in Michigan, Trump has consistently panned a Chinese-owned electric battery company planned for Big Rapids, saying it “would be very bad for the State and our Country," writes Adam Wren.

But that company, Gotion, has paid the lobbying firm co-chaired by Trump’s own campaign manager nearly $1 million over the last two years.

Treasury slashes taxes to boost critical minerals
The Biden administration has finalized a long-awaited rule for a tax credit under Democrats’ climate law in order to bolster domestic critical minerals mining and shore up America’s clean energy supply chain, write Hannah Northey and Brian Dabbs.

The Treasury Department’s final rules for the credit known as 45X now include a 10 percent tax cut for mineral production. They also cut taxes for producers of solar and wind components, batteries and certain critical mineral projects.

Harris wins over former GOP energy chair
Former GOP Rep. Fred Upton endorsed Vice President Kamala Harris for president Thursday, calling Trump "totally unhinged," writes Emmy Martin.

“We don't need this chaos. We need to move forward," said the Michigander, who led the Energy and Commerce committee before he retried in 2023.

In Other News

Side effects may include: Trump says gasoline should cost $1.87 a gallon. Here’s what that would mean.

Gene-ius! Changing the DNA of living things to fight climate change.

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A sign on the door of the Planned Parenthood facility in Asheville says that it is closed.

A sign on the door of the Planned Parenthood facility in Asheville, North Carolina. | Angelina Katsanis/POLITICO

Hurricane Helene shuttered the only abortion clinic in western North Carolina, disrupting health care for pregnant people across a large region.

Senate Minority Leader Mitch McConnell proclaimed this week that his biggest accomplishment was making it harder for agencies to promulgate rules.

The Biden administration approved a major lithium mining project in Nevada over the objections of environmentalists concerned about its impact on an endangered flower.

That's it for today, folks! Thanks for reading.

 

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Arianna Skibell @ariannaskibell

 

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