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Climate

The Case of the Missing Climate Money

On the World Bank’s bad record keeping, Trump’s town hall, and sustainable aviation fuel

The Case of the Missing Climate Money
Heatmap Illustration/Getty Images

Current conditions: Parts of southwest France are flooded after heavy rains • Sydney’s Bondi Beach is closed because lumps of toxic tar are washing ashore • A winter storm warning is in effect for parts of Montana.

THE TOP FIVE

1. Report: Large chunk of World Bank climate funds unaccounted for

Nearly 40% of the climate finance funds that have been distributed by the World Bank over the last seven years are unaccounted for due to poor record keeping, according to a new report from Oxfam International. That’s up to $41 billion that is untraceable. “There is no clear public record showing where this money went or how it was used, which makes any assessment of its impacts impossible,” the report said. “It also remains unclear whether these funds were even spent on climate-related initiatives intended to help low- and middle-income countries protect people from the impacts of the climate crisis and invest in clean energy.”

The World Bank is the largest multilateral provider of climate finance, and has a goal of directing 45% of its total financing toward climate projects by 2025. The report noted that climate finance will be a key issue at the upcoming COP29, where countries will put forward a new global climate finance goal. “The lack of traceable spending could undermine trust in global climate finance efforts at this critical juncture,” Oxfam said.

2. Trump pressed on climate change during Univision town hall

During a town hall event hosted by Univision last night, Republican presidential candidate Donald Trump was asked by a veteran construction worker – who had seen first-hand “the devastating impacts of climate change” – if he still believed global warming was a “hoax.” In his response, Trump claimed to be an environmentalist, saying he’d won “many awards over the years” for the way he’d constructed his buildings, “the way I used the water, the sand, the mixing of the sand.” But, he said, “we can’t destroy our country” for the sake of saving the climate. He said the U.S. is competing against China, which “doesn’t spend anything on climate change.” According to the International Energy Agency, last year China alone accounted for one-third of the world’s clean energy investments.

Needless to say, Trump didn’t really answer the question about whether he thought climate change was real, but he did cast doubt on sea level rise and claimed “the real global warming we have to worry about is nuclear.”

I’ll just take this opportunity to remind you that Heatmap’s Jeva Lange put together an exhaustive fact-check on Trump’s climate and weather claims going back to 2001.

3. SCOTUS says Biden’s power plant rules can stay — for now

The Supreme Court yesterday allowed the Environmental Protection Agency to move forward with its rule restricting climate pollution from power plants, meaning that one of the Biden administration’s key climate policies can stay in place. For now. The high court’s decision will allow the EPA to defend the rule in a lower court over the next 10 months. Whether the Biden administration’s new attempt at regulating climate pollution will survive depends on the outcome of next month’s election. The Trump campaign has said that it will overturn the EPA’s new climate rules. Should Harris win, the rule will still have to survive the lower court challenge. That case is scheduled to be heard in front of the D.C. Circuit Court of Appeals this term.

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  • 4. DOE announces loans for sustainable aviation fuel

    The Department of Energy yesterday announced its first two loans for sustainable aviation fuel. The roughly $3 billion in funding will go to two companies:

    • Montana Renewables – which makes biofuels from vegetable oils and discarded animal fats – would use the money to expand its facilities and produce 315 million gallons of biofuels per year. Canary Media noted this is “nearly eight times the country’s total SAF production capacity” last year.
    • Gevo – which makes biofuels from corn ethanol – would put the funding toward building a new refinery called Net-Zero 1 in South Dakota. Each year the facility would produce up to 60 million galls of SAF, and Gevo plans to capture the carbon produced and transport it to storage via the yet-to-be-constructed Summit Carbon Solutions pipeline.

    “As the aviation sector aims to meet its decarbonization goals, SAF will become increasingly vital,” the DOE said in a statement. “SAF is the only viable near-term option to decarbonize the airline industry.”

    5. Canadian court to rule on youth climate lawsuit

    A Canadian court’s ruling on a climate lawsuit today could influence similar cases in Canada and other countries. Seven young people are suing the Ontario government over its emissions targets, which they say are inadequate and violate their human rights. If the case heads to Canada’s Supreme Court, and the plaintiffs win, that would “dramatically open the door to new litigation,” constitutional law expert Emmett Macfarlane told Reuters. “That would be explosive. It would have immediate ramifications for all governments.”

    THE KICKER

    The University of California, San Diego, is the first major public university to require all its undergraduate students to complete a climate change course.

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    AM Briefing

    Exxon Counterattacks

    On China’s rare earths, Bill Gates’ nuclear dream, and Texas renewables

    An Exxon sign.
    Heatmap Illustration/Getty Images

    Current conditions: Hurricane Melissa exploded in intensity over the warm Caribbean waters and has now strengthened into a major storm, potentially slamming into Cuba, the Dominican Republic, Haiti, and Jamaica as a Category 5 in the coming days • The Northeast is bracing for a potential nor’easter, which will be followed by a plunge in temperatures of as much as 15 degrees Fahrenheit lower than average • The northern Australian town of Julia Creek saw temperatures soar as high as 106 degrees.

    THE TOP FIVE

    1. Exxon sued California

    Exxon Mobil filed a lawsuit against California late Friday on the grounds that two landmark new climate laws violate the oil giant’s free speech rights, The New York Times reported. The two laws would require thousands of large companies doing business in the state to calculate and report the greenhouse gas pollution created by the use of their products, so-called Scope 3 emissions. “The statutes compel Exxon Mobil to trumpet California’s preferred message even though Exxon Mobil believes the speech is misleading and misguided,” Exxon complained through its lawyers. California Governor Gavin Newsom’s office said the statutes “have already been upheld in court and we continue to have confidence in them.” He condemned the lawsuit, calling it “truly shocking that one of the biggest polluters on the planet would be opposed to transparency.”

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    The Aftermath

    How to Live in a Fire-Scarred World

    The question isn’t whether the flames will come — it’s when, and what it will take to recover.

    Wildfire aftermath.
    Heatmap Illustration/Getty Images

    In the two decades following the turn of the millennium, wildfires came within three miles of an estimated 21.8 million Americans’ homes. That number — which has no doubt grown substantially in the five years since — represents about 6% of the nation’s population, including the survivors of some of the deadliest and most destructive fires in the country’s history. But it also includes millions of stories that never made headlines.

    For every Paradise, California, and Lahaina, Hawaii, there were also dozens of uneventful evacuations, in which regular people attempted to navigate the confusing jargon of government notices and warnings. Others lost their homes in fires that were too insignificant to meet the thresholds for federal aid. And there are countless others who have decided, after too many close calls, to move somewhere else.

    By any metric, costly, catastrophic, and increasingly urban wildfires are on the rise. Nearly a third of the U.S. population, however, lives in a county with a high or very high risk of wildfire, including over 60% of the counties in the West. But the shape of the recovery from those disasters in the weeks and months that follow is often that of a maze, featuring heart-rending decisions and forced hands. Understanding wildfire recovery is critical, though, for when the next disaster follows — which is why we’ve set out to explore the topic in depth.

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    The Aftermath

    The Surprisingly Tricky Problem of Ordering People to Leave

    Wildfire evacuation notices are notoriously confusing, and the stakes are life or death. But how to make them better is far from obvious.

    Wildfire evacuation.
    Heatmap Illustration/Getty Images

    How many different ways are there to say “go”? In the emergency management world, it can seem at times like there are dozens.

    Does a “level 2” alert during a wildfire, for example, mean it’s time to get out? How about a “level II” alert? Most people understand that an “evacuation order” means “you better leave now,” but how is an “evacuation warning” any different? And does a text warning that “these zones should EVACUATE NOW: SIS-5111, SIS-5108, SIS-5117…” even apply to you?

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