2023 Sets New Global Temperature Records

As local heat records are being broken across the planet, July 2023 also saw the global average temperature soar to an unprecedented 17.2°C (62.9°F).

In fact, according to the U.S. National Oceanic and Atmospheric Administration (NOAA), the four hottest days on record occurred from July 4 to July 7, 2023, breaking the previous record of 16.9°C (62.4°F) set in mid-August 2016.

The above graphic charts the average air temperature at 2 meters above the surface, since 1979, using data from Climate Reanalyzer.

Read the full article HERE.

Net zero won't change the way we live

Reaching net zero carbon emissions by 2050 is a huge challenge. But we can cut emissions rapidly with technology and 'green growth', rather than 'degrowth', says the FT’s Martin Sandbu.

Bitcoin is setting the world on fire

Bitcoin was really hot in 2021, but not the way you might think. 

I'm talking about the massive energy and carbon footprint that has bloomed up as the Bitcoin network continues to grow. We've finally started to pay attention to it in 2021, with Elon Musk calling its energy consumption "insane," and calling into question its usefulness (and interestingly neither Tesla nor Musk have divested themselves of Bitcoin holdings).

It's true that Bitcoin uses an absurd amount of energy, and 2021 was the year that it truly skyrocketed, rising from somewhere around a 77 TWh/year forecast in the beginning of the year to more than 200 TWh/year by December 25. At this point, the Bitcoin network is burning through the same amount of power and fuel as some medium-sized countries, and an individual transaction eats up more power than an average U.S. household uses in 70 days!

Bitcoin, and other cryptocurrencies, need something big, like a transition to proof-of-stake, if they're going to survive a larger global transition to greener energy.

See what three degrees of global warming looks like

If global temperatures rise three degrees Celsius above pre-industrial levels, the results would be catastrophic. It’s an entirely plausible scenario, and this film shows you what it would look like.

 

The Cost to Reduce Global Warming? $131 Trillion Is One Answer

Money is a sticking point in climate-change negotiations around the world. As economists warn that limiting global warming to 1.5 degrees Celsius will cost many more trillions than anticipated, WSJ looks at how the funds could be spent, and who would pay. 

 

How do carbon markets work? -The Economist

In theory putting a price on carbon emissions should incentivise businesses to stop polluting. So why have carbon markets failed to achieve their goal of reducing global emissions? Read more here: https://econ.st/3mi51Eo