During the US time out, Australia and its allies must remain steady and seek to deepen cooperation among themselves
The idea of open international exchange that framed the Australian reforms of the late 20th century and its subsequent economic success are being challenged in the 21st century. The challenge is intensified by the restoration of Donald Trump as president of the United States. He is committed to higher protection, tax cuts that will set record highs for budget deficits, a trade war with Australia’s largest trading partner with a risk of worse, and separation of the United States from the rules-based international trading system. He is also committed to withdrawal from international cooperation and domestic action to reduce climate-changing emissions of greenhouse gases. Global financial crisis is not out of the question.
These developments will damage Australian interests. Global long-term interest rates set a base against which Australian rates settle, and will be higher than they would otherwise have been. International inflation will be higher, increasing Australia’s own inflation challenge. Australia is the developed country that has most to lose from a failure to stop global heating. Australia has more to gain economically than any other country from success in the world achieving net zero carbon emissions, as an exporter of zero-carbon goods to countries which lack rich renewable energy and biomass resources of their own.
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Breaking Waves: Ocean News
11/12/2024 - 18:56
11/12/2024 - 14:27
António Guterres says global heating is super-charging disasters, and Cop hears warning of ‘inflation on steroids’
This year has been “a masterclass in human destruction”, the UN secretary general has said as he reflected on extreme weather and record temperatures around the world fuelled by climate breakdown.
António Guterres painted a stark portrait of the consequences of climate breakdown that had arisen in recent months. “Families running for their lives before the next hurricane strikes; workers and pilgrims collapsing in insufferable heat; floods tearing through communities and tearing down infrastructure; children going to bed hungry as droughts ravage crops,” he said. “All these disasters, and more, are being supercharged by human-made climate change.”
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11/12/2024 - 13:26
Sir Keir Starmer’s pledge on emissions is an encouraging step at a frightening moment
Predictions that this will be the first calendar year in which the 1.5C warming limit enshrined in the Paris agreement is surpassed provide a stark backdrop to the UN’s 29th climate conference. This year – 2024 – has already seen the hottest-ever day and month, and is expected by experts to be the hottest year too. Addressing delegates on Tuesday, the UN chief, António Guterres, referred to a “masterclass in climate destruction”. The escalating pattern of destructive weather events, most recently in Valencia, is a warning of what lies ahead.
When the 1.5C figure was included in the 2015 deal, it was known to be a stretch. The treaty says countries must hold the average temperature “well below 2C above pre-industrial levels” and aim for 1.5C. Busting this target in 2024 will not mean it has been definitively missed; the measurement of global temperatures relies on averages recorded over 20 or more years. But the crossing of this threshold is a menacing moment. Around the world, people as well as governments and climate specialists should take notice – and act.
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11/12/2024 - 12:37
A recent study highlights that over one-third of Vietnam's 329 mammal species are threatened with extinction.
11/12/2024 - 12:33
Researchers have found evidence that mangrove forests -- which protect tropical and subtropical coastlines -- are drowning in the Maldives. Their finding indicate that rising sea level and a climate phenomenon known as the Indian Ocean Dipole have led to some Maldivian islands losing over half of their mangrove cover since 2020.
11/12/2024 - 11:50
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11/12/2024 - 11:43
King Felipe VI reportedly plans to revisit Valencia amid alerts for heavy rain, high waves and strong winds
People in flood-hit Spain stacked sandbags and braced for new storms on Tuesday as the political repercussions from last month’s deadly climate disaster rumbled on.
Amid fresh weather warnings, local media reported that King Felipe VI would soon return to the site of the flash floods, after he was pelted with mud and eggs on his first visit last week owing to local fury at the poor preparation and response of the authorities.
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11/12/2024 - 11:27
Greenpeace and Uplift say Rosebank and Jackdaw licences were granted unlawfully by former Tory government
Climate campaigners have urged a Scottish court to cancel the licence to drill the UK’s largest untapped oilfield, arguing it will cause “sizeable” and unjustified damage to the planet.
Greenpeace and Uplift accuse the former Conservative government of having unlawfully given the Norwegian oil giant Equinor a licence to exploit the Rosebank oilfield, which sits 80 miles (130km) north-west of Shetland and holds nearly 500m barrels of oil and gas.
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11/12/2024 - 11:23
Keir Starmer has confirmed that the UK has committed to an 81% cut to emissions by 2035. The prime minister also said the British government was due to launch the CIF Capital Markets Mechanism, a climate finance scheme, on the London Stock Exchange to help developing countries
UK has ‘huge opportunity’ to lead on green investment, Starmer says
Cop29 – live updates
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11/12/2024 - 11:16
Twenty-nine-metre tall fir destined to be chopped down and transported to St Peter’s Square in the Vatican
Environmental campaigners in Italy’s northern Trentino province have started a campaign to stop the felling of a 200-year-old fir tree intended to form the centrepiece of the Vatican’s Christmas decorations.
The so-called “Green Giant” is 29 metres tall and is due to be chopped down next week in a forest in the Ledro valley before being transported to the Vatican and positioned in St Peter’s Square, where it will be unveiled on 9 December.
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