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How we’ve reached a good kind of Climate tipping point

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When we hear about Climate Change it’s often as part of a doomsday narrative.

This approach echoed by modern movements, including youth activist Greta Thunburg’s ‘Strike4Climate.’

“You have stolen my dreams and my childhood with your empty words. And yet I’m one of the lucky ones. People are suffering. People are dying. Entire ecosystems are collapsing,” she said during her 2019 speech to the United Nations.

Climate Change Communication fellow Gabi Mocatta reveals optimism is at a 20-year high.

“We feel that there are lots of reasons now. We are starting towards being at a tipping point towards taking action. This isn’t new research. This is off the back of the developments we’ve seen in Biden’s climate conference,” she told Ticker News Live.

US President Joe Biden gathered 40 world leaders in a virtual summit to push nations towards doing more. It came at a time of policy shift for America on the back of the new administration recommitting to the Paris Agreement target of reducing global warming from exceeding 2℃.

“It’s not something in the future, it’s something that’s here right now”

The US committed to a 50% cut in greenhouse gas emissions reduction on 2005 levels by 2030. The European Union pledged a 55% cut by 2030 on 1990 levels. The UK promised a 78% reduction by 2035.

“We’ve been seeing the effects of climate change. The conversation linking disasters with climate change is now being had. People are seeing there’s a movement and there is understanding that climate change is a real thing,” she said.

“Business is on board. Business understands”

It comes as business leaders start leading the charge. The ‘Taskforce on Climate-related Financial Disclosures’, established by international financial monitor FSB, is now considering climate change mitigation vital to corporations’ due care and diligence.

“Business is doing that. Business understands that there is only one way to move on this and that’s towards a decarbonised economy,” she said.

Mocatta says while momentum is building, there’s still a lot of work to be done on the global stage.

“We need countries to take it very seriously in the next decade. We need changes to economies in developed countries. New funding in renewable energy. People will have to accept some changes to their lifestyle,” she said.

She says the 2020s are our final chance to act according to science and it’s important nations follow through with their promises.

Business

Russia defaults on foreign debt for the first time in a century

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Russia has failed to pay out its overseas debt for the first time in over 100 years

The country missed its Sunday deadline due to challenges in transferring the payments to international creditors.

Moscow has the funds to make the 100 million dollar payment but sanctions have complicated the process.

The country is unhappy with the situation with the finance minister calling the situation “a farce”.

The last time that Russia defaulted on its foreign debt was in 1918 when leader Vladimir Lenin did not pay out debts on behalf of the Russian Empire.

Russia has been hit with sanctions by a number of countries in response to its invasion of Ukraine.

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Business

Instagram introduces new process to crack down on underage users

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The majority of social media platforms have an age limit of 13 years old, but how is this really being regulated?

Instagram is exploring new ways for teenagers to verify their age and comply with platform rules.

The gram is turning to video selfies to crack down on minors editing their date of birth to make them appear over 18.

The Meta-owned app is testing video selfies with facial analysis software as a new age-verification method.

For a U.S. teen who wants to join insta, they will need to upload ID, ask three adult users to vouch for them or take a video selfie.

Meta says it hopes the new methods will ensure teens have an “age-appropriate experience” on the content sharing app.

Video selfies have become a popular way for digital platforms – such as online banking apps – to verify users’ age or identity.

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Business

U.S. firms to pay staff travel expenses for abortions

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Major companies have reassured staff that if they require an abortion, they will cover their travel expenses

Disney, JP Morgan, Amazon and Meta are among the companies to announce similar moves for women.

This comes as millions of US women face restricted access after a landmark ruling by the US Supreme Court overturned the constitutional right to abortion.

A growing number of companies have confirmed they will cover travel costs through their health insurance plans for employees who leave their home state to get an abortion.

Disney employs around 80,000 people at its resort in Florida, where the governor has already signed into law a ban on abortions after 15 weeks of pregnancy, which is scheduled to take effect on 1 July.

Banking giant JP Morgan and another leading US investment bank, Goldman Sachs, also said it would cover travel expenses for employees.

Social media company Meta said it intended to reimburse travel expenses where permitted by law.

Other companies which have indicated they will take similar steps include Vogue publisher, jeans brand Levi and ride hailing companies Lyft and Uber.

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