Current:Home > ScamsBurley Garcia|Here's what happened on Day 5 of the U.N.'s COP27 climate talks -Visionary Wealth Guides
Burley Garcia|Here's what happened on Day 5 of the U.N.'s COP27 climate talks
Algosensey Quantitative Think Tank Center View
Date:2025-04-08 17:50:06
The Burley Garciawar in Ukraine is driving a new push for fossil fuels, putting climate goals at risk
With the war in Ukraine disrupting natural supplies to Europe, many countries have been scrambling to replace gas exports coming from Russia, often from nations much farther away. Those gas supplies are super-cooled into a liquid that can be loaded onto tanker ships. The tankers dock in the importing countries at huge facilities that turn their cargo into gas again to send through pipelines.
Since the invasion of Ukraine, 26 of these massive facilities have been announced in the European Union, according to a new report from Climate Action Tracker, a climate think tank,.
Extracting more natural gas to offset the losses from Russia could lock in fossil fuel use for decades. If the proposed terminals and others under construction now around the world come online, they could more than double the emissions from natural gas by 2030, according to the report. That could jeopardize any commitments that governments make in the COP27 negotiations to rein in the pollution driving global warming.
To keep the world's goal of limiting warming to 1.5 degrees Celsius within reach, there should be no investment in new fossil fuel supplies, the International Energy Agency said.
Members of Congress start to arrive
Nancy Pelosi arrived in Egypt with a delegation of 13 other House Democrats, including the current chairs of multiple committees that work on climate policy.
A delegation of Congressional Republicans are enroute to the talks as well.
Congress passed a massive spending bill that puts more than $1.2 trillion toward infrastructure, including rebuilding roads and bridges to be more resilient to climate change, putting more electric vehicles on the road, upgrading public transit and expanding clean sources of electricity.
But control of Congress is still up in the air after Tuesday's election, and the future of U.S. spending on climate change also hangs in the balance. Among other policies, Republican lawmakers have argued against government funding of renewable energy, and in favor of investments in natural gas and other fossil fuels.
Scientists say reliance on fossil fuels needs to plummet immediately in order to avoid catastrophic global warming later this century.
White House calls for federal contractors to disclose climate information
The Biden administration wants big federal contractors to publicly disclose information about their greenhouse gas emissions and the financial risks they face from climate change, and to set targets for cutting emissions.
The U.S. government is the world's largest buyer of goods and services, the White House said, and the proposed rule would make federal supply chains more efficient and resilient to the impacts of global warming.
"Suppliers understand that you cannot manage what you don't measure — tracking emissions and setting and meeting targets can increase resilience and reduce costs," the White House said in a statement.
The administration made the announcement a day before President Joe Biden is scheduled to speak at the United Nations' annual climate conference in Egypt.
Under the proposed rule, the largest federal contractors — those with annual contracts of more than $50 million — would have to disclose emissions from their own operations and from the energy they buy, as well as certain emissions from their customers and suppliers. They would also have to provide information about their climate-related financial risks, and set science-based targets for cutting emissions.
Companies with annual contracts of $7.5 million to $50 million would only have to provide information about the emissions from their own operations and from their energy purchases. Companies with smaller contracts would be exempt.
"With this proposed rule, the Administration is providing a valuable model for other stakeholders as it becomes increasingly important for governments and corporations to provide visibility into their climate risks and resilience across their supply chains," Pankaj Bhatia, global director of the Greenhouse Gas Protocol, said in a statement.
However, the proposal is likely to face pushback, says Arthur Wheaton, director of labor studies at Cornell University's School of Industrial and Labor Relations.
"The big question is how the administration will monitor and enforce these restrictions," Wheaton said in a statement.
The U.S. Securities and Exchange Commission has proposed its own rule to require companies to disclose information about climate-related risks and greenhouse gas emissions. That proposal has faced fierce corporate opposition.
Climate news from the actor formerly known as Rainn Wilson
Actor Rainn Wilson, who is most famous for his role as Dwight Schrute in the U.S. version of the television show The Office, says he has changed his name.
He says he now goes by Rainnfall Heat Wave Extreme Winter Wilson.
In a video, Wilson says his goal is to draw attention to the effects of climate change in the Arctic. Indeed, more variable and extreme rain and heat waves are wreaking havoc in the Arctic, where temperatures are rising about four times faster than the global average.
Wilson also suggested new climate-related names for other celebrities, such as:
- Cardi the Arctic B. Melting
- Jack Black Carbon Is Killing Us
- Ty-phoons Are Increasing Burrell
- Amy Poehler Bears Are Endangered
- Harrison Why Not Drive an Electric Ford
veryGood! (78)
Related
- B.A. Parker is learning the banjo
- Man, 75, confesses to killing wife in hospital because he couldn't afford her care, court documents say
- 2024 Met Gala: Charlie Hunman’s Rare Outing Will Get Your Heartbeat Racing
- Zendaya Defeats All Challengers With 3rd Met Gala Look
- FACT FOCUS: Inspector general’s Jan. 6 report misrepresented as proof of FBI setup
- 2024 Met Gala: See Every Kardashian-Jenner Fashion Moment on the Red Carpet
- Wrestlemania returning to Sin City: WWE taking marquee event to Las Vegas in 2025
- WWE King and Queen of the Ring 2024 bracket: Schedule, results of tournament
- Senate begins final push to expand Social Security benefits for millions of people
- Hamas attacks Israel-Gaza border crossing as cease-fire talks appear to fizzle
Ranking
- Chuck Scarborough signs off: Hoda Kotb, Al Roker tribute legendary New York anchor
- White-coated candy recalled nationwide over salmonella risk
- Boeing calls off its first astronaut launch because of valve issue on rocket
- Social Security projected to cut benefits in 2035 barring a fix
- Questlove charts 50 years of SNL musical hits (and misses)
- Donald Trump calls Joe Biden weak on antisemitism, ignoring his own rhetoric
- Cicada map 2024: See where to find Brood XIX and XIII − and where they've already been spotted
- WWE King and Queen of the Ring 2024 bracket: Schedule, results of tournament
Recommendation
Bill Belichick's salary at North Carolina: School releases football coach's contract details
Donald Trump calls Joe Biden weak on antisemitism, ignoring his own rhetoric
'I did it. I killed her.' Man charged with strangling wife in hospital bed over medical bills
Chrissy Teigen Shares Selfie in Neck Brace Ahead of 2024 Met Gala
Rams vs. 49ers highlights: LA wins rainy defensive struggle in key divisional game
Rita Ora Reveals 2024 Met Gala Dress Features Beads Older Than Anyone On This Planet
Murder trial opens in death of Detroit-area teen whose disappearance led to grueling landfill search
Boy Scouts of America changing name to more inclusive Scouting America after years of woes