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Hurricane Rafael Menaces Florida Keys on Path Toward US Gulf

By: Lauren Rosenthal β€”
Rafael became a hurricane while churning toward the Gulf of Mexico, threatening to inflict damaging winds and heavy rains on populated areas from the Cayman Islands to South Florida.

Residents move their belongings to a safe place ahead of the arrival of tropical storm Rafael in Guanimar, Artemisa province, Cuba on November 5, 2024. Cuba was bracing for Tropical Storm Rafael, which is expected to make landfall on the island as a hurricane on November 6, compounding the misery wrought by a massive blackout and Hurricane Oscar. (Photo by YAMIL LAGE / AFP) (Photo by YAMIL LAGE/AFP via Getty Images) Photographer: YAMIL LAGE/AFP

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JPMorgan Warns Against Product β€˜Paralysis’ After Summit Halted

By: Natasha White β€”
JPMorgan Chase & Co. is cautioning against inaction after a summit intended to steer more private finance toward protecting biodiversity ended in limbo.

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Colombia’s Petro Says BogotΓ‘ Faces β€˜Structural’ Water Shortage

By: Andrea Jaramillo β€”
President Gustavo Petro said that BogotΓ‘ is entering a β€œstructural problem” due to water shortages that have led the capital to reinstate strict rationing.

The Chuza dam flows through the Chingaza National Natural Park in the northeast of Bogota, Cundinamarca department, Colombia, on Friday, Sept. 6, 2019. On Friday, leaders of the Amazon nations agreed to work together on disaster responses, satellite monitoring and reforestation in response to summer fires, which have destroyed thousands of hectares of Amazon rainforest. Photographer: Nicolo Filippo Rosso/Bloomberg

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American Exceptionalism, Now With More Oil

By: Kevin Crowley β€”
Americans are heading to the polls today, and while the presidential candidatesΒ have extremely different views on the US’s role in combating climate change, they are vying to lead a country that is now the world’s No. 1 producer of oil. Today’s newsletter looks at how this impacts the credibility of the US at international climate negotiations.

An oil flare burns at the Royal Dutch Shell Plc Norco refinery ahead of Hurricane Ida in Norco, Louisiana, U.S., on Saturday, Aug. 28, 2021. Hurricane Ida is growing in size and power as it moves north across the Gulf of Mexico toward Louisiana, and New Orleans is bracing for disaster -- clearing out hospital wards, shutting down oil refineries and forcing residents of low-lying neighborhoods to flee. Photographer: Luke Sharrett/Bloomberg

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Spain Risks €10.6 Billion Flood Damage Bill, Sanchez Says

Spanish Prime Minister Pedro Sanchez announced the first financial package for victims of the storms that killed more than 200 people in the country’s eastern region of Valencia.

Residential homes and buildings damaged by flash floods in Chiva, on Nov. 5. Photographer: Angel Garcia/Bloomberg

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Global GDP Seen Taking Much Bigger Climate Hit Than First Feared

By: Frances Schwartzkopff β€”
The economic cost of climate change will likely be much more severe than previously feared, as fresh data informs models used to predict the most probable outcomes.

Vapour rises from chimneys at the Arcelormittal SA coking plant at the Port of Dunkirk in Dunkirk, France, on Monday, Dec. 11, 2023. France's economy will avoid a recession thanks to the services sector, according to a central bank survey. Photographer: Nathan Laine/Bloomberg

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Can the No. 1 Oil ProducerΒ Lead the Way on Climate? The USΒ Is Trying It

By: Kevin Crowley β€”

The latestΒ in American exceptionalism is exporting 50% more oil than Saudi Arabia while trying to prod the world towards net zero.

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The Cannabis Industry Is Set to Grow β€” So Is Its Environmental Impact

By: Monique Mulima β€”

With weed on the ballot in four states, the industry is increasingly being forced to confront its energy, water and land use.

Low-THC cannabis arranged on a rolling paper in Bari, Italy, on Saturday, Aug. 31, 2024. A recent amendment to Italy's security bill would impose significant restrictions on the use of cannabis light and could therefore jeopardise the survival of an entire sector, according to a question raised in the European Parliament.

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Plans for Β£200 Million UK Wind Farm Spark Revival After De Facto Ban Lifted

By: Will Mathis β€”
Cubico Sustainable Investments plans to invest Β£200 million ($260 million) to build the largest onshore wind farm in England, after the UK’s new Labour government ended a hiatus for such developments earlier this year.

Wind turbines at Biggleswade wind farm. Photographer: Chris Ratcliffe/Bloomberg

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Vestas Plunges 12% as Profit Seen at Low End of Guided Range

By: Will Mathis β€”
Vestas Wind Systems A/S shares tumbled to the lowest level since 2020 after the turbine maker said it expects earnings for the full year at the lower end of its guided range.

A Vestas wind turbine in Spain. Photographer: Angel Garcia/Bloomberg

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Philippines Braces for Another Typhoon After Storms Swamp Crops

By: Mary Hui, Manolo Serapio Jr β€”
The Philippines is set to be drenched by its fourth storm in just over a month, which threatens to add to a growing tally of crop losses that total at least 11.5 billion pesos ($197 million) this year.

Mourners carry a coffin up a collapsed riverbank, damaged by floodwaters brought about by Tropical Storm Trami, during a funeral procession Batangas province on Oct. 30.

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Caribbean Storm Rafael on Track to Likely Hit Cuba as Hurricane

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SAN JUAN, Puerto Rico (AP) β€” A new tropical storm was expected to form Monday in the Caribbean and bring heavy rain to Jamaica and the Cayman Islands before strengthening to a hurricane and likely hitting Cuba, forecasters said.

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UK Can Meet 2030 Clean Power Target With Less Wind Than Promised

By: Will Mathis β€”
The UK has a narrow pathway to achieve the government’s goal of a clean power grid by 2030, and it may not need as much offshore wind as promised to get there.

Offshore wind turbines at the Scroby Sands Wind Farm, operated by E.ON SE, near Great Yarmouth, UK, on Friday, May 13, 2022. The UK will introduce new laws for energy to enable a fast build out of renewables and nuclear power stations as set out in the government’s energy security strategy last month.

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BP Venture Eyes Investment to Make Green Jet Fuel in Argentina

By: Jonathan Gilbert, Dayanne Sousa β€”
The Pan American Energy Group, half-owned by British oil major BP Plc, is mulling an investment to make clean jet fuel at its refinery outside Buenos Aires, according to people familiar with the matter.

<p>Sustainable aviation fuel is emerging as a key tool for global aviation to curb its carbon footprint.</p>

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California Faces Risk of Power Cuts WithΒ Winds Boosting Fire Threat

By: Brian K Sullivan β€”
California residents face power shutoffs this week as warm, dry winds sweep the state, threatening to tear down utility lines and spark wildfires.

Power transmission lines above homes in the Oakland Hills area of Oakland, California, U.S., on Thursday, Oct. 29, 2020. An increasing amount of Californians have been dropped by their regular insurers after years of devastating wildfires that cost billions of dollars and upended the market.

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France Affirms Climate Targets Even as Political Challenges Grow

By: Francois De Beaupuy β€”
France’s new government reaffirmed its plan to reduce carbon emissions and promote clean energy, even as it faced greater fiscal constraints and political challenges after the summer’s snap elections.

The Flamanville nuclear plant, operated by Electricite de France SA (EDF), in Flamanville, France, on Thursday, April 25, 2024. The Flamanville 3 European pressurized water reactor (EPR) has been approved of its first fuel loading and is ready to begin operation.

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Trudeau to Order Oil, Gas Producers to Cut Emissions by 35%

By: Laura Dhillon Kane, Robert Tuttle β€”
Prime Minister Justin Trudeau’s government will require Canada’s oil and gas industry to cut emissions by 35% from 2019 levels, inflaming tensions with the country’s western provinces.

Justin Trudeau

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Storm Rafael May Menace Oil, Gas Production in Gulf of Mexico

By: Brian K Sullivan β€”

The 17th storm of theΒ Atlantic hurricane season is on Bloomberg Green’s radar today.

An offshore oil platform and wells are silhouetted by the setting sun in the Gulf of Mexico off the coast of Louisiana, U.S., on Thursday, July 15, 2010. BP Plc said that a pressure test on its damaged Macondo well halted the flow of oil into the Gulf for the first time in three months. The BP Plc Deepwater Horizon oil spill, the biggest in U.S. history, had been spewing 35,000 to 60,000 barrels of oil a day since the drilling rig exploded on April 20.

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Methane Emissions Keep Rising

By: Aaron Clark, Zachary R Mider β€”
Today’s newsletter looks at how a global pledge to curb a potent greenhouse gas has so far done little to stop releases from the fossil fuel sector. You can read this story β€”Β and all COP29 coverage β€”Β for free on Bloomberg.com. For unlimited access to climate news and data, please subscribe.

Oil pumping jacks, also known as "nodding donkeys", operate in an oilfield near Almetyevsk, Russia, on Sunday, Aug. 16, 2020. Oil fell below $42 a barrel in New York at the start of a week that will see OPEC+ gather to assess its supply deal as countries struggle to contain the virus that’s hurt economies and fuel demand globally. Photographer: Andrey Rudakov/Bloomberg

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