"What else do you have to do that will actually have to affect the Iranians' calculus?" said Amos Hochstein, who served as U.S. special envoy for international energy affairs...World Politicsread more
The leaders of Japan and China got off to a tense start but have made significant progress in turning around their relations in recent years.Asia Politicsread more
Tech's hottest IPOs of the year, including Beyond Meat and Zoom, dropped on Monday, falling more than the broader market.Technologyread more
Citi Private Bank says it has maintained an "overweight" stance on stocks in China, Hong Kong, Taiwan and South Korea.Asia Marketsread more
FedEx sued the U.S. government, saying it should not be held liable if it inadvertently shipped products that violated a Trump administration ban on exports to some Chinese...Traderead more
Stocks in Asia slipped on Tuesday, while investors looked toward a meeting between U.S. President Donald Trump and Chinese President Xi Jinping set to happen later in the...Asia Marketsread more
A week of dovish fireworks out of the central banking community has just gone by with most of the world's leading central banks now guiding towards easing in light of downside...Commentaryread more
"We do not seek conflict with Iran or any other country," Trump tells reporters in the Oval Office.Politicsread more
Chinese Vice Premier Liu He held a phone conversation with U.S. Trade Representative Robert Lighthizer and U.S. Treasury Secretary Steven Mnuchin, China's Ministry of Commerce...World Economyread more
Sen. Bernie Sanders announced a plan Monday to forgive the country's $1.6 trillion outstanding student loan tab, intensifying the higher education policy debate in the 2020...Personal Financeread more
While earnings usually come in substantially ahead of expectations — as much as 4 or 5 percentage points is not unusual — the downward direction in the outlook doesn't speak...Earningsread more
The nations of the world have a narrow path to preventing global temperatures from overshooting the most ambitious target in the Paris Agreement on managing climate change, a Nobel Peace Prize-winning United Nations panel said in a new report.
However, it would take an effort the likes of which the planet has never seen.
The much-anticipated assessment by the UN's Intergovernmental Panel on Climate Change paints a bleak picture of humanity's odds of averting a potentially catastrophic rise in global temperatures. That increase leaves the world at greater risk of sea level rise, drought, extreme weather events and species extinction.
Climate scientists gathered in Incheon, South Korea this month to assess the world's odds of achieving the tougher of two temperature targets in the Paris Agreement.
The agreement aims to mobilize nations to take action to prevent global temperatures from rising by 2 degrees Celsius above pre-industrial levels by 2100. But it also calls on countries to pursue measures that would cap that rise to 1.5 degrees Celsius.
The difference of half a degree could make a huge difference. In the 1.5 degrees scenario, IPCC scientists forecast 70-90 percent of the world's coral reefs would be lost. If temperatures rise by 2 degrees Celsius, coral reefs would be nearly wiped out across the planet.
"Every extra bit of warming matters, especially since warming of 1.5ºC or higher increases the risk associated with long -lasting or irreversible changes, such as the loss of some ecosystems," said Hans-Otto Portner, who co-chairs IPCC's working group on the impacts of climate change.
IPCC said it would take "rapid and far-reaching" transitions in energy, industry and transportation to keep temperature rise below 1.5 degrees Celsius.
"Limiting warming to 1.5ºC is possible within the laws of chemistry and physics but doing so would require unprecedented changes," said Jim Skea, co-chair of the IPCC working group that focuses on mitigating climate change.
Those efforts would have to drive down emissions of carbon dioxide, the primary cause of climate change, by about 45 percent from 2010 levels by 2030.
By 2050, humans would have to ensure they reach "net zero" carbon emissions, meaning any carbon emitted is offset by measures that remove the greenhouse gas from the atmosphere.
If temperatures exceed 1.5 degrees Celsius, humans will have to rely on technologies and techniques to remove carbon from the atmosphere. Those methods have never been proven at large scale, IPCC warned.
Temperatures have already risen by 1 degree Celsius and are on pace to increase by 1.5 degrees Celsius between 2030 and 2052 at the current pace, according to IPCC.
The report sets up a tough dialogue at the UN's annual climate change meeting in Poland in December, where countries will measure their progress against the commitments they made in the Paris Agreement. It also comes just over a year after President Donald Trump pulled the United States, the world's second largest carbon dioxide emitter, out of the Paris Agreement.
"The apathy and inaction of our political leaders is dooming our children and grandchildren to a nightmarish world of climate chaos. Already, climate-changing pollution is intensifying heatwaves, wildfires, droughts, torrential rains, floods, hurricanes and sea level rise," David Doniger, senior strategic director of the climate and clean energy program at the Natural Resources Defense Council said in a statement.