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    Page Updated:
    November 21, 2022




     

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    Morgan Stanley Launches $1b Climate-
    Focused Private Equity Strategy
    -REUTERS
    November 21, 2022
    Morgan Stanley Investment Management said on Monday it had launched a new $1 billion private equity strategy to invest in companies which will remove 1 gigaton of carbon dioxide emissions from the atmosphere by 2050 or prevent that amount entering the atmosphere.
    Companies need trillions of dollars of investment to help them reduce carbon emissions and to develop new low-carbon technologies to meet the aims of the Paris Agreement to limit global warming.
    Through the 1GT strategy, MSIM will invest in private companies in North America and Europe, whose activities aim to collectively prevent or remove 1GT of emissions.
    Investments will focus on the mobility, power, sustainable food and agriculture sectors and circular economy and deliver both financial returns and positive environmental impact, MSIM said.
    MSIM said it would also tie some of the 1GT investment team's compensation to the emissions performance of underlying investments.
    A New Climate Reality
    is Coming into View
    -NY Times Magazine
    October 26, 2022
    You can never really see the future, only imagine it, then try to make sense of the new world when it arrives.
    Just a few years ago, climate projections for this century looked quite apocalyptic, with most scientists warning that continuing “business as usual” would bring the world four or even five degrees Celsius of warming — a change disruptive enough to call forth not only predictions of food crises and heat stress, state conflict and economic strife, but, from some corners, warnings of civilizational collapse and even a sort of human endgame. (Perhaps you’ve had nightmares about each of these and seen premonitions of them in your newsfeed.)
    Now, with the world already 1.2 degrees hotter, scientists believe that warming this century will most likely fall between two or three degrees. (A United Nations report released this week ahead of the COP27 climate conference in Sharm el Sheikh, Egypt, confirmed that range.) A little lower is possible, with much more concerted action; a little higher, too, with slower action and bad climate luck. Those numbers may sound abstract, but what they suggest is this: Thanks to astonishing declines in the price of renewables, a truly global political mobilization, a clearer picture of the energy future and serious policy focus from world leaders, we have cut expected warming almost in half in just five years.
    Sea Rise: Bangladesh Farmers
    Revive Floating Farms
    --REUTERS
     
    October 20, 2022
    Mohammad Mostafa, a farmer in the low-lying deltas of southwestern Bangladesh, has revived his forefathers' farming practice of growing crops on floating rafts as rising seas and storm flooding threaten more and more farmland.
    With prolonged waterlogging posing an increasing threat to families growing their own food, more have turned to using the rafts as secure platforms to grow vegetables and fruit including cucumbers, radishes, bitter gourds, papayas and tomatoes. Most are sold as saplings.
    The rafts, woven from the stems of invasive hyacinths, are providing a lifeline for families during the increasingly extreme monsoon seasons, when dry land can be especially scarce.
    The 200-year-old technique was initially adopted by farmers in the region during the flooding season, which used to last about five months each year. But nowadays the area remains underwater for eight to 10 months and more land is being flooded.
    "These days, the land is under water for a longer time. This ancient technique has helped us to earn a living," said 42-year-old Mostafa, as he planted balls of seedlings on floating beds.
    "My father and forefathers all used to do this. But the work is not that easy. So, at first I tried to earn as a fruit vendor but ended up in debt," said Mostafa, the sole breadwinner in his six-member family. "I tried my luck at floating farming five years ago and that made a great difference to my life."
    Wildfires Rage in France
    More Evacuations Expected
    --REUTERS
    September 14, 2022
    A wildfire raging since Monday in southwestern France prompted authorities to evacuate an extra 500 people on Wednesday, bringing the total to over 1,000 in an area already hit this summer by huge blazes.
    One thousand firefighters and 11 aircraft are battling the fire that has burned more than 3,600 hectares and destroyed four houses and several buildings in the wine growing Medoc area.
    France, like the rest of Europe, has had to tackle heatwaves and a drought over the summer that have caused multiple wildfires across the continent.
    Close to 65,000 hectares (250.97 square miles) have gone up in flames so far in France this year, half of it in southwestern France - six times the full-year average for 2006-2021, according to data from the European Forest Fire Information System. "The weather conditions remain unfavourable, with the persistence of wind, heat and drought. The fires remains active ," the prefect of the Gironde department said in a statement, adding seven firefighters had been slightly injured.
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