The Federal Reserve’s November 2020 “Financial Stability Report,” which usually examines how economic and market forces could impact banks, insurance companies, and other firms, has addressed the implications of climate change for financial stability for the very first time.
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President-elect Joe Biden and Vice president-elect Kamala Harris were declared the winners of the US election on Saturday, and their climate change priorities have already been published on the Biden-Harris Transition website.
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Key Biscayne, an island town in Miami-Dade County and one of Florida’s wealthiest towns, is also very vulnerable to rising seas. And last night, in the 2020 election, it soundly voted to approve a $100 million bond to protect itself from sea-level rise. Its decision driver? Staving off dropping property values.
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As of midnight Eastern, the US leaves the Paris Agreement, the 2015 pact between 197 countries to stop global warming “well below” 2C, and work to hold it at 1.5C. Donald Trump formally withdrew the US from the global climate pact on November 4, 2019. The timing in relation to the US election is coincidental, but the outcome of the election will impact what comes next.
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Just in case you didn’t notice, the US election is next week, on Tuesday, November 3. We at Electrek ran a Climate Crisis Weekly roundup on October 10 with the headline, “Humanity’s future rests on American voters.” Someone on the subreddit r/JoeBiden declared, “Tech website Electrek backs Biden for president.” Our reaction to that? We’ll take it.
And here’s why. Electrek is for electric vehicles, green energy, slowing and eventually reversing climate change, and protecting and renewing the environment. And we’ll hop on whatever e-bus we have to ride in order to get closest to the goal of progressing those things.
So instead of rounding up the week’s climate change stories, we’ve done something different this week. Some of us in the 9to5 network explain — each with a unique perspective, from all over the US (and world) — why we back Joe Biden in the 2020 US presidential election. In short, it’s because he’s the e-bus that gets us closest to our destination. Because we believe, with a passion, in what we write about.
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Chinese President Xi Jinping (above), in a surprise announcement yesterday, told the United Nations General Assembly via video that China would achieve a peak in carbon dioxide emissions before 2030 and carbon neutrality before 2060. This will require a radical reshaping of the Chinese economy.
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Last week, the Joe Biden-Bernie Sanders climate unity task force put forward a number of recommendations to combat climate change, as Electrek reported on July 9. That followed a huge climate plan from the House Democrats in June to bring the US to net zero by 2050. But are they good preliminary plans?
