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Episode 5: Energy transition today

Transcript

Listen: "It actually all comes down to one thing and that's money," says Raad Alkadiri, Managing Director of Energy, Climate and Resources at Eurasia Group. "Will there be the money for investment in renewables, in energy efficiency made available? And I'm not just talking about the industrialized world, I'm talking about globally."

In the latest episode of Living Beyond Borders, a podcast produced in partnership between GZERO and Citi Global Wealth Investments, Alkadiri is joined by Malcolm Spittler, Global Investment Strategist and Senior US Economist at Citi Global Wealth Investments, to look at where the energy transition to renewable fuels stands globally, after setbacks from the pandemic and geopolitical instability.

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Dambisa Moyo: Europe Energy Transition Needs More Than a "Band-Aid Solution" | GZERO World

Dambisa Moyo: Europe's energy transition needs more than a "band-aid solution"

Most countries around the world understand that sooner or later they will need to transition to using more clean energy. But in the meantime, they still rely on over a hundred million barrels of oil per day.

What's more Russia's war in Ukraine has underscored our dependence on fossil fuels for energy.

“We hadn't anticipated that there'd be a war that would create these shocks. And that puts us slightly offside,” renowned economist Dambisa Moyo tells Ian Bremmer on GZERO World.

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Climate Disinformation Back to Denying It Exists, Says UN’s Melissa Fleming | GZERO Media

Climate disinformation back to denying it exists, says UN's Melissa Fleming

People are a lot more worried about climate change than they used to be. And they are also very concerned about disinformation related to climate.

"We're seeing a disturbing spike in disinformation around climate change," Melissa Fleming, the UN's Under-Secretary-General for Global Communications, says during a Global Stage livestream conversation hosted by GZERO in partnership with Microsoft.

But what's more troubling is that the disinformation super-spreaders, she adds, have "returned now to the complete denial narrative" — it's a hoax.

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TITLE PLACEHOLDER | World In :60 | GZERO Media

Ukraine taking the battle to Russia

Ian Bremmer shares his insights on global politics this week on World In :60.

What should we expect from Xi Jinping's visit to Saudi Arabia?

A lot more investment. The Chinese expect themselves to be one of the last men standing in terms of global energy demand for fossil fuels. The Saudis, of course, the cheapest major producers out there, think in the transition they'll be the last man standing in terms of supply, and that really aligns these countries much more than with the United States over the medium- to long-term. I'm also really interested in any conversations about security because behind the scenes, the Chinese have been talking to a lot of countries about where they might put their first military base in the Middle East. The whisper is Oman. Something to watch out for going forward.

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- YouTube

COP27: Not good enough

Ian Bremmer's Quick Take: Hi everybody. Ian Bremmer here on a Quick Take to get you kicked off for your week.

I thought I would talk about the Climate Summit, which has just concluded in Sharm El Sheik, the COP27 was not one of the better moments for global climate response. If there was a big win, and I wouldn't call it a big win, but at least it's progress, it's on the establishment of a loss and damage fund and the idea is to use funds from industrialized countries that pay for climate related losses that are already being experienced in the billions and billions of dollars in poorer countries. The developing countries have been demanding the developed world indeed put such a fund together. The problem is of course, that in addition to the reluctance to get it done, just saying that you have such a fund does not have a mechanism for distributing money, a mechanism for raising money, and certainly there is no cash, there's no financing yet. Maybe over time you'll see the private sector make donations into this fund, maybe you'll see some government commitments but for now at least, it's an announcement of intentionality without any there there. That's the big news, right? That's the actual major headline that came out.

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Egypt's Foreign Minister Samih Zhukri (l) speaks during the closing ceremony at the COP27 climate summit in Sharm el-Sheikh.

Christophe Gateau/DPA via Reuters

What We’re Watching: Climate comp fund, Malaysian coalition building

COP27 delivers on reparations but fails on fossil fuels

Two days behind schedule, the COP27 climate summit in Sharm el-Sheikh, Egypt, finally wrapped up with a historic agreement on Sunday. Wealthy countries will pay poor nations for the economic damage caused by climate change. The so-called "loss and damage fund" will compensate the developing world for impacts like droughts and flooding, which rich nations led by the US had resisted for 30 years. But so far it's only a political statement of intentions with no financial commitment, so it'll be up to future COPs to work out the details. What's more, climate activists' joy over the much-awaited reparations deal was overshadowed by a lack of progress in cutting fossil fuels. Efforts to include stronger language on phasing out oil and natural gas on top of coal were rebuffed by top fossil fuel producers as well as by major guzzlers in the developing world who won't jeopardize their economic growth to embrace renewables. In other words, a victory for climate justice but a painful defeat for clean energy at a COP where expectations were low.

Get more COP27 insights from Eurasia Group analyst Franck Gbaguidi on our Instagram and YouTube channels.

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David Malpass: I’m Not a Climate Denier | GZERO World

David Malpass: I'm not a climate denier

World Bank President David Malpass has come under a political firestorm over his views on climate change science. But is he a climate denier?

No way, he tells Ian Bremmer on GZERO World when asked about the elephant in the room. Meanwhile, the institution Malpass leads has, among many priorities, two big crises to deal with: energy and food.

Malpass laments how Russia's war in Ukraine has hurt climate progress by creating more appetite for fossil fuels. Why? Countries are hungry for energy, and even Europe is scouring the world for more coal and natural gas.

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Paige Fusco

Europe plans for Putin & Trump 2.0

Signal spoke with Eurasia Group Vice Chairman Gerry Butts about Europe’s future given the uncertainty created by both Russian aggression and America’s volatile politics. This interview was edited for length and clarity.

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