UN Climate Panel claims thats there is no evidence of economic change to support the decline of carbon emissions
October 08, 2018
FEMA spends billions in storm-battered regions. A New York Times analysis of federal data finds that FEMA has contributed $81 billion to state and local government for emergency repair since 1992, despite practices some experts indicate cyclically rebuild embattled communities on flood-prone tracts of land. The paper reports that local officials often decide where and how FEMA dollars are utilized, repeating the same building practices and building in the same vulnerable locations as before the storm. While experts argue climate science has intensified threats to local communities in flood-prone areas, the Trump administration rescinded an executive order earlier this year that would require federal construction projects, such as those FEMA manages, to account for climate change in choosing sites and implementing flood-safe building practices. [NY Times]
UN Climate Panel releases urgent predictions. The United Nations released a report Monday that sounded the alarm on global emissions and climate change. The report, authored by the Intergovernmental Panel on Climate Change, indicated there is no historical precedent for the transformation of economic systems required to reduce global carbon emissions at this scale. The report indicated that reductions in emissions would need to exceed 1 billion tons per year, and that global emissions rose 21% from 2005 to 2017. [The Washington Post]
Economic Indicators and News
Due to the federal holiday, no economic indicators are released today.