COP28 Avoidance

Have you observed any changes with Fennel? We chose not to appoint Sam Altman as our CEO, nor did we decide to rebrand as "Y" or "Z" (Twitter, we're looking at you). Rather, we just released an attractive update for the Fennel app. The update brings performance enhancements as well as new features and improved design-- my favorite being the brand new price chart. Have a look at this! Although you may not have the same enthusiasm for data visualization as I do, please take this as a polite prompt to make sure you stay on top of updating your Fennel app, so you don't miss out on any of our latest capabilities! An international agreement has been reached that makes a far-reaching demand for nations to shift away from fossil fuels, yet major exemptions remain. CNN reports that the deal, thought to be the most wide-reaching of its kind, calls for nations to take action to reduce greenhouse gas emissions and curtail the effects of climate change; however, it allows certain countries to rely heavily on traditional sources of energy. Every year, the UN organizes the Conference of Parties of the UNFCCC, more commonly known as COP. This year's COP, COP28, was anticipated to be a large event, as activists in the area of the environment and countries involved anticipated to develop plans to phase out fossil fuels. Did that eventuate? The answer is both yes and no. Before the end of the two week event, the organizers of the event presented a preliminary version of the COP28 climate accord that was immediately met with disapproval by environmental activists. This draft didn't contain any reference to the termination of fossil fuel use that was desired by the activists, instead using gentler language that suggested countries take multiple paths to reduce their emission levels. This caused COP28 to go beyond its December 12 deadline as last minute debates and negotiations had to be held. Eventually, on December 13, a slightly more ambitious climate deal agreement was made available to the public, however, nations had the flexibility to reduce their emissions by means other than reducing fossil fuel usage. The agreement was the initial occasion a COP contract had any reference to fossil fuels in it. The likelihood of every country coming to a consensus regarding a solution for climate change is slim, yet it is still a critical issue that requires unified effort from the global community. COP 28 has been a disorganized showcase of the conflicting interests that exist when different countries come together to deal with climate change. Contradictions between industrialized nations, who are contributing the most to the climate crisis, and rich progressive countries, who have the capacity to take action, has been highlighted. Additionally, there is the burden placed on developing countries with low emissions to modify their behaviors, as well as the threat posed to small nations whose very future is in doubt if climate change worsens. The presence of the fossil fuel industry is a major part of discussions about climate change. This is evidenced by the fact that the COP28 president Sultan al-Jaber is also the chief executive of the United Arab Emirates’ state oil company, Adnoc, which has been met with criticism due to the perceived incompatibility of the two roles. The opinion of experts is that fossil fuels are a major factor in climate change. However, it is difficult to think of how a discussion at the international level about reducing or decreasing the use of these fuels could take place without input from the fossil fuel sector. For those attempting to anticipate the future of the international energy transition, bear in mind that the process could take longer than originally thought - just like the COP28 summit. Despite the concerns of a recession, the American economy is still making steady progress. The Labor Department reported an increase of 199,000 nonfarm payrolls (seasonally adjusted), surpassing the prognostication of 190,000. Furthermore, the unemployment rate descended to 3.7%, exhibiting the economy's solidness in spite of the Federal Reserve's determined rate hikes which were intended to restrict inflation. It appears the Federal Reserve may commence decreasing interest rates as soon as 2024. This signals the Fed's assurance in its efforts to manage rising prices, something that has been in the minds of investors and people expecting to acquire a mortgage in the near future. Are you viewing this on Medium or did it arrive through a forwarded message? Sign up to our newsletter to get the most up to date news on ESG & stakeholder capitalism sent directly to your inbox. This communication is provided for informational purposes and does not constitute an offer to sell or a solicitation of an offer to purchase any security. It should not be taken as a recommendation, or a representation of the effectiveness, of any particular investment or strategy. Investing may involve risk, and the value and income of investments may fluctuate. Past performance does not guarantee future results. When trading, you must be aware of the risks and be willing to accept them in order to invest in the market. 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Source: https://medium.com/fennelapp/the-cop28-cop-out-ff78f852b04f?source=rss------fintech-5