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Climate

Trump Is Downsizing Disaster Aid
Adaptation

AM Briefing: Disaster Aid Gets Downsized

On job cuts, long-term planning, and quarterly profits.

Politics

AM Briefing: Greens Go to Court

On congestion pricing, carbon capture progress, and Tim Kaine.

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Climate

AM Briefing: Climate Grant Drama

On Washington walk-outs, Climeworks, and HSBC’s net-zero goals

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Climate

AM Briefing: Tesla’s Musk Problem

On weekend protests, Trump’s new energy council, and Iditarod

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Global Electricity Use Is Expected to Soar

AM Briefing: Power Hungry

On the IEAs latest report, flooding in LA, and Bill Gates’ bad news

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The EPA Wants that $20 Billion Back

AM Briefing: Clawing Back Climate Grants

On the Greenhouse Gas Reduction Fund, armored EVs, and China’s coal addiction

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Economy

AM Briefing: A $1 Billion Bailout

On costly payouts, soaring air travel, and EV sales

The Los Angeles Wildfires Drained California’s Insurer of Last Resort
<p>Heatmap Illustration/Getty Images</p>

Current conditions: Los Angeles is bracing for a massive rain storm that could trigger landslides in areas recently charred by severe wildfires • About 90% of districts in India have received little or no rainfall since the start of the year • Schools are closed in Kansas City, Missouri, where up to 6 inches of snow is expected today.

THE TOP FIVE

1. California’s last-resort insurer needs $1 billion bailout to cover wildfire claims

California’s state-backed insurance plan of last resort is short on funds to pay out claims from the Los Angeles wildfires. As a result, California Insurance Commissioner Ricardo Lara is asking private insurers that operate in the state to give the program, known as the FAIR Plan, $1 billion. The FAIR Plan is for people who can’t get private insurance coverage because their properties are considered high risk. As weather disasters get worse and private insurers pull back from the state, more people are relying on the FAIR Plan, and its policy load has doubled since 2020 to more than 452,000. The plan has received some 4,700 claims related to last month’s devastating fires, and paid out more than $914 million. But that’s not enough. The program expects a loss of $4 billion from the fires. This is the first time in 30 years that the program has needed to ask for more money. The fee will be divided between the private companies according to market share, and they’ll have 30 days to pay. Up to half of the cost can be passed on to their own policyholders. Even so, there are concerns that this will push private insurers to leave California to avoid further losses, exacerbating the state’s insurance crisis. State Farm, the state’s largest insurer, recently asked regulators to approve a 22% rate increase.

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Climate

AM Briefing: A New Era of Warming?

On breaching 1.5, NYC’s new EV chargers, and deforestation

Has the World Entered a New Era of Warming?
<p>Heatmap Illustration/Getty Images</p>

Current conditions: Unusually hot and dry weather in Ivory Coast has farmers worried about a looming shortage of cocoa beans • Construction on one of Britain’s busiest roads has been extended by nine months due to extreme weather • The first of three winter storms hitting the U.S. this week will arrive today, bringing snow to the Mid-Atlantic region.

THE TOP FIVE

1. Studies suggest the 1.5 degrees Celsius warming limit is already dead

Two new studies published this week concluded that we’re probably already beyond the 1.5 degrees Celsius global warming threshold outlined in the Paris Agreement. Last year was the first full calendar year with global temperatures averaging more than 1.5C above pre-industrial averages, but scientists have been divided on whether this was a short-term anomaly or the beginning of a new and irreversible era. The new studies, both published in the journal Nature Climate Change, used different methodology to investigate this question, but came to the same conclusion: “Most probably Earth has already entered a 20-year period at 1.5C warming.” The findings echo research published last week from famed climate scientist James Hansen, who predicted that warming will ramp up by 0.2 or 0.3 degrees Celsius per decade to breach 2 degrees Celsius in warming by 2045. Last month was the hottest January on record, at 1.75 degrees Celsius above pre-industrial averages.

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