Climate

And, you know, the damage from fisheries to tourism to, you know, just the difficulties confronting people in poor countries and, you know, living in poor people sharing a bedroom with air con, which I mean, obviously, you know, contributes further to the problem.

But in regards to these poorer countries, is there going to be a result, do you think? I mean, I know there's a UN Climate Change Fund being set up.

It's supposed to release hundreds of billions of dollars for these countries.

I think it's still a few years out.

People feel like the cost of living, the cost of housing is all of these issues, they're copying it and they're trying to find ways to change that.

And so I think ignoring climate is not going to get you there because those costs are baked in.

Climate change drives those costs further up.

But we need to have better conversations around

Hello and welcome to GARP's climate risk podcast series, where we'll be investigating how climate change is impacting the world of business and finance and what this means for risk management.

Welcome back.

This is the second part of our three-part retrospective mini-series, marking the 100th episode of the podcast.

If you haven't listened to part one yet, I'd encourage you to go back and start there, where we focused on what the science is really telling us.

It's a focus on the physical risks.

But in this episode, we look more at the transition and ask, given all of that science, what are we doing about it? And what can go wrong if we don't get this right? We'll take a look at the effectiveness of the COPs, the annual UN climate summits, that have been the primary expression of global climate ambition for three decades.

What the most effective policy levers are to accelerate the transition, including the effectiveness of disclosure requirements and frameworks.

And what history tells us about what happens when societies fail to respond adequately to systemic pressures.

This is Climate Watch.

I'm Zhao Ying.

Welcome to the show.

The world's oceans have reached their highest temperature on record.

According to the EU's Copernicus Climate Change Service, global sea surface temperatures hit 21.1 degrees Celsius in late August, surpassing the previous record set in March 2024.

Global ocean temperatures usually peak in March and April, at the end of the austral summer, which makes the timing of this new record particularly remarkable.

It comes as a strong El Niño develops in the tropical Pacific, adding further heat to an ocean that's already warming due to human-caused climate change.

So what does this tell us about the state of our climate system? How much further could temperatures rise as El Nino strengthens? And what does a hotter ocean mean for marine life and those of us living on land? To discuss these questions and more, we are joined by Dr.

The reforms illustrate a wider challenge facing resource-rich economies, securing affordable energy at home without undermining the investment and exports that connect them to global markets.

For further information, see Australian Government, Department of Climate Change, Energy, the Environment and Water, Minister for Industry and Innovation and ABC News.

New Zealand lowers investment barriers in its push for economic growth.

New Zealand has cut Overseas Investment Office application fees as the government seeks to make the country more attractive to international capital.

The first mail ballots are already going out in Alabama, North Carolina and Wisconsin.

Climate scientists say August was the hottest month ever recorded globally.

Temperatures averaged about 62.5 degrees Fahrenheit, roughly three degrees above pre-industrial levels.

The European climate service Copernicus points to human caused climate change and a strong El Nino warning the impacts will only get worse.

And we know this because if there were going to be the kind of societal mobilizations that we need to see, it would already be happening.

Climate response would already be the focus of multiple agencies in every nation.

It would be funded with tens of trillions of dollars.

It would be bringing people together across civil society, business, et cetera.

So when we started, um, our first environmental program was actually, uh, focused on the Hudson River Valley, where the Garrison Institute is, is founded, and we did some wonderful work growing, connecting religious organizations and spirituality and, uh, Hudson Valley.

And then we did a program called Climate, Mind, and Behavior to look at the neuroscience and social science and behavioral economics of how people behave and to see how we could shift those behaviors towards more environmental behavior.

The Pathways to Planetary Health program got started by doing a mapping of all the different environmental strategies.

If you lay them out, you know, there was technology like solar, and there was investment, and there were all, you know, a wide range of things.