October 24, 2021
G-20 members split on climate ahead of COP26: Just before the COP26 climate summit kicks off in Glasgow on October 31, the leaders of the world's top 20 economies will meet in Rome to discuss climate change, soaring energy prices, and post-pandemic recovery. But the G-20 remains divided between Western countries – like the US and the EU – demanding firm commitments from all member countries on cutting carbon dioxide emissions, and top polluters like China, India, and Russia who say that ask is unreasonable given that many Western nations have benefited from fossil fuel use for decades. Of these three outspoken nations, only India's PM Narendra Modi will travel to Rome, which makes it unlikely that any meaningful progress will be made ahead of the landmark summit in the UK. Meanwhile, US President Joe Biden is in a tough spot: ahead of a trip to Europe this week, he was hoping to have secured billions of dollars in new climate funding from Congress, but his ambitious plans remain stuck due to divisions within his own party. More broadly, if no consensus is reached in Rome, it'll raise the stakes even more for Glasgow — and the planet can't wait any longer for politicians to make up their minds.
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In this Quick Take, Ian Bremmer breaks down the escalating US-Israel war with Iran and its ripple effects on global markets and supply chains.
As missiles fly and oil prices soar, the Iran war is exposing another major resource vulnerability in the Middle East: water. Fresh water has been a scarce commodity in a region defined by a dry climate and low rainfall, but attacks on the region’s desalination plants, which convert seawater into drinking water, threaten to open a new front.
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