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‘Hidden costs’ of climate emergency are worsening California’s affordability crisis


University of California, Berkeley, study found that those who experience severe effects will see up to a $1m in costs


The report itself is here

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Lukashenko to Zelensky: 'Calm Down, There Is a Good Proposal on the Table'




Why banks’ credit risk models are blind to climate shocks


cross-posted from: mander.xyz/post/38752499

Archived

A recent global survey by UNEP FI and Global Credit Data found that only 18 per cent of banks integrate climate risk into their internal ratings-based models [IRBs], which drive regulatory capital requirements. The study cites data gaps and methodological hurdles but does not explain the deeper problem: credit risk and climate risk models are built on fundamentally different logics.

[...]

Unless supervisors adapt, the IRB models of today will remain blind to one of the most significant credit risk drivers of this century.

Credit risk models are precision tools honed on the past. Under the IRB approach, they calculate probabilities of default, losses given default, and exposure at default using deep pools of historical data.

Defaults, losses and macroeconomic patterns from years gone by are fed into these systems, with the underlying belief that yesterday’s relationships will largely hold tomorrow. This backward-looking design is reinforced by strict regulatory requirements: every risk driver must be de facto statistically significant, rigorously validated, and continuously monitored.

The result is a disciplined, data-heavy framework built to forecast the next 12 months of creditworthiness — and nothing beyond.

Climate risk models speak a different language. They are not grounded in borrower default histories but in climate science and policy pathways. Instead of asking “what happened last year, and will it repeat?”, they ask “what could happen in the decades ahead and how prepared are we if it does?” — on the premise that past performance is no guarantee of future results.

"“A factory in a flood zone may operate for years without incident, then suffer catastrophic losses from a single storm wiping it out overnight.”"

[...]


in reply to poVoq

Is his uniform a little dirtier in the first photo? Effects of camera/compression?
in reply to poVoq

Move slow and mend things


China’s empty promises on the road to COP30: When you parse the Paramount Leader’s video message to world leaders, any vestige of optimism begins to melt away - [Opinion]


cross-posted from: lemmy.sdf.org/post/42981736

Archived

[...]

[China's Xi Jinping's] promise to cut emissions by 7-10% from their peak was indeed a landmark pledge, in the sense that the country responsible for a third of global CO2 pollution has never before committed to cutting it by so much as a puff. But when you parse the Paramount Leader’s video message to world leaders, any vestige of optimism begins to melt away.

Let’s leave aside the question of which “peak” Mr Xi had in mind – some estimates suggest Chinese greenhouse gas pollution may have plateaued last year, but his carefully worded statement leaves room for another peak yet.

[...]

Firstly, some logic. A commitment to a 7-10% cut “while striving to do better” is a commitment to a 7% cut. That is all.

And let’s not forget it’s a “net” cut, meaning the parallel pledge to “scale up the total forest stock volume to 24 billion cubic metres” will subtract the presumed amount of CO2 locked away in wood.

[...]

What else does Beijing promise? “Expand the installed capacity of wind and solar power to over 6 times the 2020 levels, striving to bring the total to 3,600 gigawatts.”

There’s that weasel word “striving” again. Signatories to the Paris Agreement said they would strive to limit temperature rise to 1.5 degrees above pre-industrial levels (specifically, the climate during the latter half of the nineteenth century). That is now considered politically impossible.

But we risk getting tied up in data. The nationally determined contribution (NDC) may not have been the most significant part of Xi’s intervention, if you read between the lines: “In the course of global green transition, fairness and equity should be upheld and the right to development of developing countries fully respected.”

[...]

It might surprise many to learn that China – while asserting itself as a major geopolitical force and very close to tying with the EU as the world’s second-largest economy – claims to be a “developing country” in the context of global climate talks, allying itself with the likes of Kiribati, Somalia and Zimbabwe.

In other words, it is the wealthy West that should pay for having had their industrial revolutions earlier. Beijing’s intransigence on this point was a major bone of contention at the COP29 summit in Azerbaijan last year.

Then comes the kicker: “It is important that countries strengthen international coordination in green technologies and industries to address the shortfall in green production capacity and ensure free flow of quality green products globally so that the benefits of green development can reach all corners of the world.”

China has invested a tremendous amount of political and actual capital in turning itself into the global workshop for green tech production. Trump is not only tossing tariffs around: He’s declared climate action a “con job” and is doing his best to shut down wind and solar development, both at home and abroad.

Meanwhile Brussels is actively pursuing a “buy European” policy. Beijing probably has reason to be concerned about its export market.

[...]





in reply to Five

What about the Park service?

The goal of the Forest Service was always extraction. It's the Parks that we really need..

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in reply to quick_snail

The goal wasn’t to encourage extraction, it was to prevent over-extraction.

I live in a National Forest that hasn’t had any large-scale commercial logging conducted in it for many decades. It has multiple designated Wilderness areas, and is primarily used for recreation. The major distinction between it and a National Park is that you’re permitted to drive motorized vehicles on the existing logging roads, and collect firewood with a permit.



Moldova's electoral commission bars pro-Russian party from Sunday's parliamentary vote


The Heart of Moldova party is one of four in the Russia-friendly Patriotic Electoral Bloc, viewed as one of the main opponents of the ruling pro-Western Party of Action and Solidarity.


Archived version: archive.is/newest/euronews.com…


Disclaimer: The article linked is from a single source with a single perspective. Make sure to cross-check information against multiple sources to get a comprehensive view on the situation.

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Wikimedia Signs Statement Supporting Digital Rights of Memory Institutions - Internet Archive Europe


Wikimedia Foundation has signed onto the 4 Digital Rights of Memory Institutions, affirming memory institutions' rights to Collect, Preserve, Lend & Cooperate in the digital age.

Wikimedia, one of the world’s leading champions of free knowledge and open access, has signed the Statement on the Four Digital Rights of Memory Institutions, joining a growing number of organizations worldwide that are calling for the legal rights needed to preserve and provide access to knowledge in the digital age.

By signing the Statement, Wikimedia reinforces the growing international movement that calls for legal reform on four essential rights that ensure long-term preservation and access:

1) Right to Collect
1) Right to Preserve
1) Right to Lend
1) Right to Cooperate

These rights are not abstract. They underpin the ability of institutions to continue their public mission: collecting digital materials, preserving them for future generations, lending them fairly, and cooperating across borders to make knowledge accessible to all.




EU climate chief vows to push China on 'disappointing' climate target, says Beijing’s stance risks derailing Paris Agreement targets


cross-posted from: lemmy.sdf.org/post/42946561

Archived

EU Climate Commissioner Wopke Hoekstra plans to push Beijing to go beyond its pledge – unveiled by President Xi Jinping on Wednesday – to reduce greenhouse gas emissions by 7-10% from peak levels by 2035, a target far below what NGOs and analysts hoped for.

[...]

“This level of ambition [by China] is clearly disappointing, and given China’s immense footprint, it makes reaching the world’s climate goals significantly more challenging,” the climate commissioner said on Thursday morning.

“We will continue to push China (and others) to go beyond the current level of ambition, and respect our joint commitments under the Paris Agreement,” he said.

Analysts shared Hoekstra’s disappointment.

[...]

“With the EU and others still struggling to row forward, China could be hoisting its sails and leading the way,” said Kate Logan, director of the China Climate Hub at the Asia Society Policy Institute. Instead, the “underwhelming” 7-10% target represented a missed opportunity to deliver real leadership, she said.

[...]

This assessment echoed comments by Belinda Schäpe, a China policy analyst at the Centre for Research on Energy and Clean Air, who spoke immediately after Xi’s announcement.

The 7-10% emission cut was “far below what would be required to align with the Paris Agreement targets,” Schäpe said, arguing that the required CO2 reduction would have been around 30%, compared to 2024 levels.

[...]

in reply to Hotznplotzn

I'm disagree with her statement because china produce lot goods for EU and they build lor renewable energie a lot to reduce their footprint beside having one of the largest population in the world.

Yes they can do better but i think they are doing a good job.

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in reply to Hotznplotzn

theenergymix.com/eu-stalls-on-…

Big words...


EU Stalls on Emissions Target as Exxon Challenges Corporate Sustainability Rules


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Ukraine’s Modest Gains, Europe’s Crisis, And Trump’s Surprising Turn On Russia




'Abuse of Power': Trump DOJ Attack on State Voter Rolls Decried as Threat to Democracy


The US Department of Justice is harassing election officials and using voters as pawns in a relentless effort to spread misinformation about voter fraud. Are we willing to let our personal data be used as a political game by an authoritarian government?
#USA




Hungarian Fighters Intercept More Russian Jets Over Baltic Sea


Hungarian Gripen fighters based in Lithuania intercepted five Russian fighters on Thursday, according to a NATO Allied Air Command statement on Facebook.


Archived version: archive.is/newest/kyivpost.com…


Disclaimer: The article linked is from a single source with a single perspective. Make sure to cross-check information against multiple sources to get a comprehensive view on the situation.



World war imminent, if Kiev's false flag sabotage plans materialize — Russian MFA









in reply to solo

At this point, if you're still clinging to some hope of mitigating - or god forbid, solving - the climate catastrophe, you're dangerously delusional.

Want to know the big secret the "elite" aren't telling you? The grand conspiracy?
We're all going to fucking die, them included, and there is no escape. That's why they're suddenly robbing everyone blind (even moreso than before). They know the jig's up and want to squeeze the lemon for what little juice in it is left.

Fact is we're simply doomed. Which is bad enough, but spending the last years or decades of a livable earth as serfs to these people is an idea I can barely tolerate. I can only hope that the backlash will be harsh and bloody when it finally happens. And it will.

in reply to Kyrgizion

Well, not all people will die. Some will survive and the elite are just trying to make sure they're the ones to survive.

in reply to BrikoX

<...> will allow the company to again issue its own airworthiness certificates.


How is this even a thing in the first place?

Edit: Well shit EASA allows the same for Airbus though a bit more narrow and with more oversight. easa.europa.eu/en/domains/airc…

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in reply to BrikoX

If you look at the Chinese press and social media no sale is expected.

Trump has a history of announcing sales without agreement. He did it before he was president.

Also at this point he had lied and broken promises so much the Chinese cannot rely on agreements, they can only try to not engage in non constructive ways.

People should not listen to Trump

in reply to limer

If you look at the Chinese press and social media no sale is expected.


I did and see the opposite. Most expect it to go through but see it as a win since they retained ownership of algorithm and the access to US market.

Trump has a history of announcing sales without agreement.


While true, it's usually self-serving ego boost. This being a fake deal would be a huge embarrassment instead.



China leads nations with new climate plans, defying U.S. climate denial


in reply to ZeroCool

“Trump wants fossil fuels and the United States is indeed a powerful petro-state,” Bremmer said. “But letting China become the world’s sole powerful electro-state is the opposite of making America great again … at least if you care about the future.”


One thing i've come to understand is that america does not at all seem to care even the slightest bit about having a future. Which, in my opinion, is super weird because it says in the bible (that the christians revere so much) that "when your messiah comes [for the second time] and you happen to have a sapling in your hand, plant the sapling first, then go see the messiah". Which means, especially if you consider it to be the "end times", that doesn't mean you should just not care about what happens after. You should still plant the tree, even if it takes 20 years for it to grow up and produce meaningful amounts of fruit.

But i guess something about wanting to have a future is "communist" or something.

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in reply to ZeroCool

These are absurdly modest goals considering that their previous 2030 pledges are on track to be achieved by 2027, and these 2035 goals by 2028. All of these goals without any growth in renewables, just continuing pace. They (or I guess someone else) would literally need to nuke their solar production plants from orbit to fail on this track.

Unclear why make such modesty. Invite US to think more fossil fuel investment is smart?


in reply to silence7

Unsurprisingly, the Venn diagram of 'social media stars' and 'hard-nosed investigative journalists' are two non-intersecting circles. In fact, I'm not sure the latter group still exists.

Is Greg Palast still alive?

in reply to silence7

"Social media stars" are they trying to...rebrand..."influencers" now?!?!?
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China announces plans to significantly reduce greenhouse gas emissions


Chinese President Xi Jinping on Wednesday told the United Nations that by 2035, his country plans to reduce its greenhouse gas emissions by 7%–10% below its peak, and called out “some countries” for moving against the global clean energy transition

Alongside the economy-wide emission reduction goal, Xi said that within 10 years, China plans to increase its installed capacity of wind and solar power to over six times its 2020 levels. It also plans to boost the share of non-fossil fuels in domestic energy consumption to over 30%.

in reply to oortjunk

There is more than just the US and China, despite what Lemmy says.
in reply to chiocciola

I'm Canadian, so ummm. Yep. Thanks anyhoo.

in reply to silence7

lol. So much for green China. I wonder if all those fools blindly defending them feel like idiots now.

I know one or two mods who love to ban people for pointing out how the hype is just hype.

in reply to silence7

This is so confusing as a few posts above this one it was saying how China is leading green. Ughhh.


Why economies gain by preparing for climate change


in reply to Canaconda

Repuplicans: Lets build resilient infrastructure for the rich out of the skeletons of children. So chic.
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Verizon Remains On The Legal Hook For Illegally Spying On You And Selling Your Movement Data (For Now)


For decades, major U.S. wireless providers have collected sensitive customer movement and location data (often down to the meter), then sold it to a long list of random dipshits — usually without bothering to clearly inform customers or get their consent. Five years ago, this resulted in folks like stalkers and people pretending to be law enforcement abusing said data.


Case file: s3.documentcloud.org/documents…




in reply to silence7

Failure is not inevitable; failure is a choice. A choice that must and can be avoided


Oh good, now all we have to do is urge our political and business leaders to sacrifice short term economy for a chance at planetary survival. I'm sure they'll do the right thing, if only they knew that we're all fucked if they don't. 🫩

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in reply to salacious_coaster

Its not just about urging them. It takes creating a situation where they correctly believe that staying in power means ending fossil fuel use
in reply to silence7

Levke Caesar, co-lead of Planetary Boundary Science Lab, noted that it took a year for newly emitted gases to mix into the atmosphere, but a thousand years to settle into the ocean. “To be a good scientist, I have to take emotions out of work. Still, I would say looking at this data, when I allow myself to connect to it emotionally, then I am afraid. This really scares me,” she said.


I think it is time for scientists to be unapologetic about their emotions, what other time do we have? She is right to be scared, we all should be.

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Summer 2025 is the warmest on record for the UK


Press release

Provisional Met Office statistics confirm that summer 2025 is officially the warmest summer on record for the UK.

Analysis by Met Office climate scientists has also shown that a summer as hot or hotter than 2025 is now 70 times more likely than it would be in a ‘natural’ climate with no human caused greenhouse gas emissions.

The UK’s mean temperature from 1 June to 31 August stands at 16.10°C, which is 1.51°C above the long-term meteorological average. This surpasses the previous record of 15.76°C, set in 2018, and pushes the summer of 1976 out of the top five warmest summers in a series dating back to 1884.

Met Office scientist Dr Emily Carlisle said: “Provisional Met Office statistics show that summer 2025 is officially the warmest on record with a mean temperature of 16.10°C, surpassing the previous record of 15.76°C set in 2018.

“The persistent warmth this year has been driven by a combination of factors including the domination of high-pressure systems, unusually warm seas around the UK and the dry spring soils. These conditions have created an environment where heat builds quickly and lingers, with both maximum and minimum temperatures considerably above average.” 

1976, which had a mean temperature of 15.70°C, has now dropped out of the top five warmest summers since records began in 1884, leaving all five warmest summers having occurred since 2000.

in reply to als

We’ll probably be seeing this headline every year until we die