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“Situation is extremely dangerous” warns former UN Environmental Director | ticker VIEWS

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Former UN Environmental Director and climate activist Svein T Veitdal warns the climate crisis needs immediate action

Svein T Veitdal is a global expert and activist on climate change, renewable energy & nature. He is a former UN Director and is now the Director of Klima 2020. Based in Norway, Svein says “we still have hope and possibility, but we have to act extremely fast.”

“I think everybody understands that the situation is extremely dangerous for future generations. There is no doubt about that anymore. There is one recipe that works. That is to take the source to the problem. Which is the fast reduction of emissions. And that means cutting down on fossil energy production.”

Svein T Veitdal, former UN Director, climate activist

Nordic countries lead the way on climate action

The recent IPCC climate report sent a stark climate science warning around the world. Now, more extreme weather events are wreaking havoc across Greece, the United States.

Nordic countries like Norway, Sweden, and Denmark are showing great leadership when it comes to climate change action. Now, more than 50%, of all new cars sold in Norway are fully electric, with no hybrids.

Norway is focusing on subsidising, with free parking, no road tolls, and a growing network of charging stations.

 “So we are not more environmentalists than other countries, it’s just to do it like this and it will happen everywhere. So that’s a way to speed up the transition. But now, we are starting to withdraw the benefits because now the market works and we can withdraw the benefits.”

Svein T Veitdal, former UN Director, climate activist

Norway also leads the way for remarkable hydrogen opportunities. More than 95% of their energy is renewable, mainly from hydrogen.

“We definitely continue to invest in hydrogen and hydrogen development”

Svein T Veitdal, former UN Director, climate activist

However, while Norway is leading in so many ways Veitdal insists Norway can also be seen as hypocritical. He says in comparison to Sweden and Denmark, Norway has only reduced its emissions by 4% since 1990.

” Norway is not willing to set an end date to oil and gas and we are even subsidising to look for new areas. And we are going against the advice to the Secretary-General in the UN and also the new report from the International Energy Agency.”

“Our neighbours have done much better.”

Svein T Veitdal, former UN Director, climate activist

Cop26 Glasgow

The 2021 United Nations Climate Change Conference, also known as COP26, is fast approaching. It’s scheduled to be held in the city of Glasgow, Scotland between 1 and 12 November 2021.

Glasgow will potentially be one of the most important global climate discussions of all time. Action must happen now before it’s too late.

“It’s super important because maybe it’s the last chance we have to reach global climate goals. I don’t think we will make the 1.5 goals but what is needed is an agreed plan to phase out fossil energy production and increased renewable energy production much faster than what is happening today.”

“We need to reduce emissions by 10% a year until 2030.”

Svein T Veitdal, former UN Director, climate activist

“We now have almost 80% of the world’s emissions covered by net-zero pledges – up from about 20% in 2019. AUS still has a target set in 2015”

Scott Hamilton, Energy expert & ticker climate co-host

 

Veitdal has attended most of the climate conferences in the past and says Australia’s track record is not great. He believes Australia is a victim of climate change to forest fires, heatwaves, and the downgrading of the Great Barrier Reef.

Veitdal warns if Australia doesn’t pick up its game, it will lag behind, lose a lot of green business opportunities and suffer more from the impact.

“It looks like you have failed to act to protect your people from I think, maybe the greed of the fossil fuel industry before sea lobby, the coal lobby is probably too strong.”

“Even if you have excellent conditions for renewable energy production, it looks like the shift is coming slower to Australia than the rest of the world.”

“Australia must leave fossil energy behind that’s your solution, that will be successful to the people and to the world.”

Svein T Veitdal, former UN Director, climate activist

Watch this week’s full episode here: https://originals.tickernews.co/category/climate/

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Big Tech earnings spark investor unease over AI spending

Investors monitor Big Tech’s AI investments, with Meta thriving while Microsoft and Tesla face uncertainty over growth and returns.

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Investors monitor Big Tech’s AI investments, with Meta thriving while Microsoft and Tesla face uncertainty over growth and returns.

Investors are reacting sharply to Big Tech earnings this week, sending a clear signal that massive spending must translate into real growth. Markets are becoming less forgiving as companies pour billions into artificial intelligence, data centres and future tech while returns remain uncertain.

Meta has delivered a standout performance, posting a 24 percent jump in revenue for the December quarter, fuelled by AI-powered advertising. The company is doubling down on its strategy, with aggressive investment in AI and infrastructure expected to drive a further 33 percent growth this quarter.

Microsoft and Tesla tell a more cautious story. Microsoft reported only modest growth in its Azure cloud business, raising questions about its exposure to OpenAI, while Tesla plans to double spending on AI and autonomous driving. Analysts warn of a widening gap between bold AI ambitions and what investors expect in returns.

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Federal Reserve holds interest rates amid economic uncertainty

Federal Reserve holds interest rates steady, balancing inflation and jobs, as some governors advocate for a cut. #FederalReserve #InterestRates #Economy

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Federal Reserve holds interest rates steady, balancing inflation and jobs, as some governors advocate for a cut.

The Federal Reserve has opted to keep interest rates unchanged, marking the first pause since July. Officials are showing little urgency to resume cuts, even after previous rate reductions.

Two Fed governors opposed the decision, calling for a quarter-point cut, highlighting ongoing debates within the rate-setting committee, which includes both appointed governors and regional bank presidents.

Concerns over the job market and persistent inflation continue to weigh heavily on the Fed’s policy decisions, leaving economists and investors closely watching the next moves.

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#FederalReserve #InterestRates #Economy


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Trump warns Iran as U.S. naval forces approach amid rising tensions

Trump urges Iran to resume nuclear talks or face stronger U.S. military response amid economic struggles and tensions rise.

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Trump urges Iran to resume nuclear talks or face stronger U.S. military response amid economic struggles and rising tensions.

U.S. President Donald Trump has urged Iran to return to nuclear negotiations, warning that failure to do so could result in a far more severe military response. Posting on Truth Social, Trump signalled a hardening stance as tensions between Washington and Tehran continue to rise.

Trump confirmed that a U.S. naval strike group led by the USS Abraham Lincoln is moving towards Iran, as protests grow inside the country over alleged government repression.

The show of force comes amid heightened regional instability and mounting pressure on the Iranian leadership.

#Trump #Iran #USForeignPolicy


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