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Food, not steel, is our biggest climate challenge
Apr 01,2021 - Last updated at Apr 01,2021
LONDON – Climate-policy discussions often focus on who will pay the cost of achieving a zero-carbon economy, with a particular focus on industrial sectors such as steel and cement. But the overall costs are strikingly low, and our biggest challenge lies in the food system, not industrial products.
The latest report by the United Kingdom’s Climate Change Committee, for example, shows that cutting UK greenhouse-gas emissions to net zero by 2050 would reduce British GDP by only 0.5%. The Energy Transitions Commission’s “Making Mission Possible” report estimates a similar total cost of 0.5 per cent of global GDP to reduce emissions from the world’s energy, building, industrial, and transport systems to zero by mid-century.
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The former director of Fowler Oldfield, Gregory Frankel, who was a vice-president of Mr Stuntâs firm Stunt & Co, will also stand trial.
Mr Stunt - the former husband of F1 heiress Petra Ecclestone - and Mr Frankel also jointly-owned international gold trading business Fort Bullion, whose offices in Mayfair were raided by the police in 2016.
West Yorkshire Police and the UK s National Crime Agency investigated Fowler Oldfield in 2016 and carried out a number of raids across the country.
The investigation culminated in Mr Stunt, Mr Frankel and 11 other people being charged with money laundering. Both Mr Stunt and Mr Frankel deny the charges.
Saudi Aramco recently honoured its words by paying its shareholders a whopping $75 billion dividend for 2020 even as the worst pandemic known to humanity affected its earnings negatively.
In a report credited to Bloomberg, the world’s most valuable oil company by market value, issued these massive payouts known to be a key source of revenue for the Saudi Kingdom.
The Saudis, like many oil-producing countries, had notably experienced its budget deficit widened after the COVID-19 disrupted the global energy markets and shut down many smaller companies in the Gulf Kingdom.
What you must know: Saudi Aramco leads the top spot as the world’s most profitable company. The oil juggernaut is known to have by far the largest oil reserves in the world.