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A crisis without a solution
Nov 12, 2024
A staggering $2 trillion in global damages from extreme weather events underscores the urgency at the COP29 climate summit. The potential volatility in global economic growth looms, particularly with the political climate shifting under Trump's influence. The FDA looks to ban ineffective cold medicines, while a humorous misprint on Mattel's toy packaging adds a lighthearted twist. Dive into the dual approach between adapting to and mitigating climate change, and explore the changing dynamics of U.S. tariffs on global trade.
19:30
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Quick takeaways
- The financial toll of climate change, estimated at $2 trillion from 2014 to 2023, underscores its significance amid U.S. political challenges.
- Trump's proposed trade tariffs threaten global economic stability and may shift reliance from the U.S. towards China for export-dependent nations.
Deep dives
The U.S. Position at COP29
The U.S. delegation's challenging position at COP29 is highlighted, especially in light of the Trump campaign's indication to withdraw from the Paris climate agreement. John Podesta, leading the delegation, attempted to reassure global leaders of U.S. commitment to the climate fight, but many see this reassurance as lacking substance. A report from the International Chamber of Commerce revealed that extreme weather events related to climate change caused about two trillion dollars in damage from 2014 to 2023, comparable to the costs of the 2008 global financial crisis. The growing financial impacts on individuals and businesses due to climate change, particularly rising insurance costs, are expected to become significant issues for voters in upcoming elections, pushing climate change higher on the political agenda.
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AI-powered
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Listen to all your favourite podcasts with AI-powered features
Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode