Transcripts For ALJAZ Counting The Cost 20221007 : vimarsana

Rescue if its after disasters and hazy ecuador in guatemala. Ah. Just a quick look at the main stories of following the sour. Now the Nobel Peace Prize has been awarded to a jailed banner, russian activists and 2 Rights Groups from ukraine and russia. Its being seen as a strong condemnation of the invasion of ukraine and the president s of banner bruce and russia. Ukraines center for Civil Liberties has been documenting war crimes against civilians, russian rights group, memorial campaigns on human rights abuses, and that jail that bell russian activists. I less be at ski, has campaigned for human rights and Civil Liberties. For nearly 40 years. What ukraines presence is saying, his troops have re taken nearly 2 and a half 1000 square kilometers since the latest offensive began to retake land in the east and the south. But Russian Forces say they have captured ground in ukraines eastern danny, at screeching in our headlines this hour, the king of thailand has visited survivors of thursdays Day Care Center massacre by a former policeman. 37 people were killed, 24 of them children. This was a rare public appearance, biking ma, harvard, youre a long corn, you travel to the northeast, a long while, ample province to meet survivors. At 2 hospitals. The attacker was identified as a former Police Sergeant who took his own life after killing his wife and child at home, up her rear alone. The la number. If you need anything, we will facilitate to provide help or would like to extend my condolences. There are no other words to describe this building. I want to give you all moral support to be strong, so that the souls of these children can have a sense of relief that their families will remain strong and be able to move forward. A School District in texas has suspended its police force 5 months after gunman killed 19 students and 2 teachers, the Police Department has been under investigation for its slow response to the shooting, rob elementary and the town of val day. And iranian coroner, as massa mean, he did not die from a beating while in police custody, but died of multiple organ failure due to a pre existing medical conditions on mimi was detained by iran, so called Morality Police in september for breaking straight to laws. Other dress code counting the cost is the story coming up next. Well see tomorrow by now and talk to al jazeera, we also do live. The women of afghanistan were somehow abandoned by the international community. We listen. We are a, a huge price for the war against terrorism. Whats going on . And so money we meet with global news makers. Im talk about the stories that matter. One out, you 0, i hello on has him seeker, this is counting a cost on edge. Is it a, your weekly look at the world of business and economics this week, a big you turn on promised tax cuts, but top owners in the u. K. But is the British Governments reversal enough to limit the financial damage . And has the Prime Minister lost her credibility also this week hurricane, he enjoins a list of destructive and very costly storms. Is the world spending enough to mitigate or adapt to Climate Change . And boeings, Vice President tells us how the companys planes can reduce their carbon footprint. Ah, but just a few days ago, britains new Prime Minister was confident she would be able to kick start Economic Growth by cutting taxes. Yet the country is still on course for recession. The faced with market term all and criticism from within her own conservative party list trust was forced to scrap plans to remove the 45 percent top income tax rate. On high honors, the u. 10 is being seen as a humiliating about face. That leaves trust is Economic Policy and premise ship in crisis that involve reports from london. I have 3 priority for our economy. Grows, growth on the policy conference it opens against the backdrop with intense markets on ease lease trust. These pro growth traps, cutting many budget, had lead briefly to a slump in the value of the pound, and instantly made thousands of mortgages more expensive with expectations, the bank of england would have to raise Interest Rates foster. Then at the 11th hour chancellor quasi quoting was told hed have to reverse plans to scrap the 45 percent income tax rate for top harness. I know the plan what forward only 10 days ago has caused a little turbulence. I get it. I get it that may well have been nervous. Laughter as the Opposition Labor Party opened up a big a lead and opinion polls delivering to my investors in the city of phil, waiting on crucial information, including the assessment already done by the office for budget responsibility. The government independent economic forecaster and theres another group of people who might want their say on all of this over in westminster. It was only when the Prime Minister realized she was facing a mutiny from conservative members of parliament over the top tax rate that she ordered the u turn. Crosses position has always been that growth drives things so successfully that you dont need to explain how you fund your tax cuts, because a ha, a lower rate will give a higher yield with more grace. People arent broadly speaking, accepting after the moment. And theyre looking for an understanding on the government Balance Sheet as to where cuts are going to be made, of course, and he comes to public spending could prove hugely controversial. The governments refusal to commit to raising welfare payments in line with inflation has prompted open descent from some cabinet members. One think tanks as the many budget is regressive. As most of the gaines go to richer households and will struggle to achieve it stated, aim, the tax cuts that the government has proposed arent looking like theyre gonna achieve the growth targets that the government is, its setting out for itself. It would have to increase great by quite a substantial amount for them to even pay for themselves. And in terms of the, at the spending cut that automatically going to reduce g d p for, for the u. K. So it looks like the job of selling this new low tax, Economic Vision has really only just started Nadine Barbara for counting the cost london, which 1. 00 is now from london is below half. Hes chief executive of the macro. Hi, thanks for being with us. So why was this so poorly received by the markets and then the subsequent you turn is that going to be enough to come the markets . Yeah, thats a great question. I mean, well, one big reason why the u. K. Many big budget was so poorly received, was number one, the size of the dest. It is fairly large, the tax cuts. And then before that there was the Energy Subsidy with the introduction of price caps in the u. K. So the amount of borrowing the government is having to do is very large compared to what it had announced in the previous administration. So one was the, the scale of the desk did, but also it was the way the u. K. Was going to fund that deaf fit, which was to issue bonds, but particularly issue bonds at the shorter 10 of the cut, the 12. 00 parts of the curve which one particularly liquid. And so this seems to be a lack of chord nation with the Management Office in terms of the way the government would issue bonds. And that really sets a set, a bad tone for the industry markets in u. K. Which over the past week or so good experience, significant volatility then on the, on the do turn. To some extent it does potentially help the administration in so far as it removes one, its the politically toxic parts off the mini budget. But at the same time it has, it is a huge and so other parts of the conservative party can smell blood. And so they may challenge other parts of this trust is program which could introduce much uncertainty about what the government can actually do Going Forward. And will people on the lowest income still pick up the bulk of the costs of the costs and, and what about middle class families . Everything from mortgage to, to food is getting more expensive now and you can absolutely so on balance, the measures are regressive, which means that people at the lower end will suffer, will get the least amount of bent that will suffer more than people who have more income and not apply to lower economic classes as well as middle class as well. And as you write, you points out the, the thing that really hit people hard is the increase in interest rate. So peoples mortgage is when they reset their mortgages. Most people in u. K. Have to you know, 2 year fixed Mortgage Rates and many of them will start to reset over the next 12 months. Theyll be in for a shock than Monthly Payments could double or triple even in many, many cases. So this is really quite a big shot to, to the system. Express, especially peoples expenses. And the bank of england, this is, is not going to keep intervening for, for too much longer. They are expected to, to raise Interest Rates. But what does all of this mean Going Forward then . Yeah, the bank begins in a tough situation because on the one hand, theyve committed to stock buying government bonds. But obviously last week they have to buy government bonds to people lies the u. K. In straight markets, so thats one child and they face because theyre having to do things contradicts and their policy of that time, as you rightly points out they, they have committed to raising Interest Rates to reduce inflation. Now the issue here is that the market so expect them to raise Interest Rates very significantly up to maybe 5 percent. So even 5 hops that by next year, thats more than the bank of england said that they are willing to increase in rates by but inflation is very high and the u. K. Now of course, because the u. K. Has this energy price cap, that means the patient could come down a bit, but on balance banking, thankful and is in the top situation of having to raise rates at a time where peoples peoples Household Bills are going up. And this, these plans by the, the British Government have been dubbed trust nomics and its modeled on reaganomics, which is of course, a reference to the u. S. President s tax cuts in the 1918. The idea being that these tax cuts would create more wealth in the economy and thereby lead to higher tax revenues. Does. Does that work . I mean, has it ever really work . Thats a good question. I mean, theres a big debate around all of this. I mean, in general, it seems like the effects are much weaker than people think. So that will trickle down economics that the, the historic evidence is quite weak, that it does work. What does tend to work more so called supply side reforms. And this is something that part of trust economics, which is to reduce regulations, reduce red, say make it easy for business to operate in the u. K. So that is something that lives proper ministration is engaging in other potentially could be positive in the long run. So there is a silver lining, and all of this, the question is whether she has the will and the buy in from a policy to be able to push through those reforms in the coming few years. So, i mean, you, i know you mentioned the sort of political implications of this has that has the Prime Minister, lost her credibility. You think what, what does this mean for the long term and for the conservative party, i think theres been a big loss of credibility. One basic example is the fact that many of the, these announcements were not discussed with the rest of the cabinet. So the rest of the cabinet are starting to speak again, blue cross in public, which is a very bad sign. Public polling shows that lives cross is the least popular, tory leader for in modern times. So shes lost a lot of credibility with the public, but also within her party, said as theres already talk that there could be another leadership challenge which introduces additional uncertainty. So the next month or so, i was going to be critical for this cross to try to get over this negative and tried to stabilize her position. So its a very precarious situation that shes been right now, and the next 45 weeks are going to be critical to see whether shell be able to regain a credibility and push through her program. Will add half ease in london nicely with us. Great, thank you. The the United States has gone through 332. 00 climate related disasters in the past 40 years that have cost, at least a 1000000000. 00, and theyre happening more often. Now. Hurricane ian is the latest and its estimated that could cost up to a 100000000000. 00 in damage and economic losses. That makes it one of the costliest storms in us history. President joe bidens recent climate law is providing only 37000000000. 00 a year over a decade. Christmas salumi reports from new york, tallying up the losses from Hurricane Ian has only just begun. Our roof is in the back of the house. For these retirees, seeing the damage to their homes and neighborhood was overwhelming. Theres no words for it. Its like holy cow, what a mess. The south west coast of florida took the brunt of wind and storm surge, but the impact of the heavy rainfall was felt further inland and up the United States. Eastern coast experts say whether storms is one impact of Climate Change. The majority of the cost as well as the lives lost as a result of hurricanes and tropical cycling comes from flooding. It comes from a storm surge. It comes from the rainfall. One of the costliest storms in u. S. History superstore. Miss sandy wasnt even a hurricane by the time i got here in new york, and yet heres where did the most damage. 82000000000. 00 and flooding an infrastructure costs some early estimates for hurricane in are approaching that. More than 40000 utility workers were dispatched to florida alone to help restore pat power water mains and roads have also suffered extensive damage. Not to mention bridges. The governor said 800 of them were in need of assessment. President biden declared a disaster in florida. Paving the way for federal assistance for infrastructure as well as individuals. It me, the federal government provide individual assistance of 37900. 00 for home repairs and other 37900. 00 for loss property for anything from automobile to last wedding with several Health Care Facilities damaged and forced to evacuate Health Impacts and related costs will take years to fully understand and has gone into flash while the human cost remain. Incalculable. Kristin salumi for counting the cost new york, oregon and also knocked out pow across all of cuba and devastated some of the countries most important tobacco farms. Several other nations experienced extreme weather conditions last month, including pakistan, where the worst floods in the countrys history left a 3rd of its people under water. The un secretary general antonia good parish accused the wolves 20 riches countries of not doing enough to stop the planet from overheating and developing countries are calling on rich nations to pay the losses that Climate Change has inflicted on the worlds poorest people. Well, joining us now from munich is dr. Miranda shaw as chair of environmental and Climate Policy at the Technical University of munich. Thanks for being with us, doctor. Let me ask you 1st off, the damage for this is estimated cost up to 100000000000. 00. How is that going to be paid for . Whos going to pay for it . Its an extremely expensive storm that is going to cost the Insurance Companies as well as private individuals and eventually also the state huge amounts of money. Its, its something that all of us will have to chip into all of these kind of big storms or storms that need to be paid for by multiple individuals. But the reality is, the money thats money that many people dont pass. And the un secretary general antonio parish has said hurricane he and shows that no economy in the world is, is immune from the climate crisis. Is this 370000000000. 00 . Thats the, the government there is providing under this new climate noise that going to be enough to tackle the problem. You know, theres so much work that needs to be done with Building Infrastructure in north america. The United States in particular, which just hasnt invested enough, whether its in the electric grid system and bridges and roads. And then a new technologies like the Renewable Energy field or electric automobiles that, that alone is going to require most of that money. And when we look at climate adaptation, the reality that we have rising sea levels that we have storms that are expected to increase in intensity. So what we saw here with, with e n, as is likely to become something thats much more regular, much more often really damaging storms. Theres going to be a lot more money that needs to be invested into rethinking how we build, where we build and bringing nature back in, in order to protect coastlines, better in the past, weve been building, and i say we, i mean all around the world, weve been building right along the coast. Weve been building an areas where it requires deforestation taking away the mangrove forests and up South East Asia or in the florida keys, where you see people building on the sandbanks. Its really something that needs to be reconsidered because Nobel Peace Prize<\/a> has been awarded to a jailed banner, russian activists and 2 Rights Groups<\/a> from ukraine and russia. Its being seen as a strong condemnation of the invasion of ukraine and the president s of banner bruce and russia. Ukraines center for Civil Liberties<\/a> has been documenting war crimes against civilians, russian rights group, memorial campaigns on human rights abuses, and that jail that bell russian activists. I less be at ski, has campaigned for human rights and Civil Liberties<\/a>. For nearly 40 years. What ukraines presence is saying, his troops have re taken nearly 2 and a half 1000 square kilometers since the latest offensive began to retake land in the east and the south. But Russian Forces<\/a> say they have captured ground in ukraines eastern danny, at screeching in our headlines this hour, the king of thailand has visited survivors of thursdays Day Care Center<\/a> massacre by a former policeman. 37 people were killed, 24 of them children. This was a rare public appearance, biking ma, harvard, youre a long corn, you travel to the northeast, a long while, ample province to meet survivors. At 2 hospitals. The attacker was identified as a former Police Sergeant<\/a> who took his own life after killing his wife and child at home, up her rear alone. The la number. If you need anything, we will facilitate to provide help or would like to extend my condolences. There are no other words to describe this building. I want to give you all moral support to be strong, so that the souls of these children can have a sense of relief that their families will remain strong and be able to move forward. A School District<\/a> in texas has suspended its police force 5 months after gunman killed 19 students and 2 teachers, the Police Department<\/a> has been under investigation for its slow response to the shooting, rob elementary and the town of val day. And iranian coroner, as massa mean, he did not die from a beating while in police custody, but died of multiple organ failure due to a pre existing medical conditions on mimi was detained by iran, so called Morality Police<\/a> in september for breaking straight to laws. Other dress code counting the cost is the story coming up next. Well see tomorrow by now and talk to al jazeera, we also do live. The women of afghanistan were somehow abandoned by the international community. We listen. We are a, a huge price for the war against terrorism. Whats going on . And so money we meet with global news makers. Im talk about the stories that matter. One out, you 0, i hello on has him seeker, this is counting a cost on edge. Is it a, your weekly look at the world of business and economics this week, a big you turn on promised tax cuts, but top owners in the u. K. But is the British Government<\/a>s reversal enough to limit the financial damage . And has the Prime Minister<\/a> lost her credibility also this week hurricane, he enjoins a list of destructive and very costly storms. Is the world spending enough to mitigate or adapt to Climate Change<\/a> . And boeings, Vice President<\/a> tells us how the companys planes can reduce their carbon footprint. Ah, but just a few days ago, britains new Prime Minister<\/a> was confident she would be able to kick start Economic Growth<\/a> by cutting taxes. Yet the country is still on course for recession. The faced with market term all and criticism from within her own conservative party list trust was forced to scrap plans to remove the 45 percent top income tax rate. On high honors, the u. 10 is being seen as a humiliating about face. That leaves trust is Economic Policy<\/a> and premise ship in crisis that involve reports from london. I have 3 priority for our economy. Grows, growth on the policy conference it opens against the backdrop with intense markets on ease lease trust. These pro growth traps, cutting many budget, had lead briefly to a slump in the value of the pound, and instantly made thousands of mortgages more expensive with expectations, the bank of england would have to raise Interest Rates<\/a> foster. Then at the 11th hour chancellor quasi quoting was told hed have to reverse plans to scrap the 45 percent income tax rate for top harness. I know the plan what forward only 10 days ago has caused a little turbulence. I get it. I get it that may well have been nervous. Laughter as the Opposition Labor Party<\/a> opened up a big a lead and opinion polls delivering to my investors in the city of phil, waiting on crucial information, including the assessment already done by the office for budget responsibility. The government independent economic forecaster and theres another group of people who might want their say on all of this over in westminster. It was only when the Prime Minister<\/a> realized she was facing a mutiny from conservative members of parliament over the top tax rate that she ordered the u turn. Crosses position has always been that growth drives things so successfully that you dont need to explain how you fund your tax cuts, because a ha, a lower rate will give a higher yield with more grace. People arent broadly speaking, accepting after the moment. And theyre looking for an understanding on the government Balance Sheet<\/a> as to where cuts are going to be made, of course, and he comes to public spending could prove hugely controversial. The governments refusal to commit to raising welfare payments in line with inflation has prompted open descent from some cabinet members. One think tanks as the many budget is regressive. As most of the gaines go to richer households and will struggle to achieve it stated, aim, the tax cuts that the government has proposed arent looking like theyre gonna achieve the growth targets that the government is, its setting out for itself. It would have to increase great by quite a substantial amount for them to even pay for themselves. And in terms of the, at the spending cut that automatically going to reduce g d p for, for the u. K. So it looks like the job of selling this new low tax, Economic Vision<\/a> has really only just started Nadine Barbara<\/a> for counting the cost london, which 1. 00 is now from london is below half. Hes chief executive of the macro. Hi, thanks for being with us. So why was this so poorly received by the markets and then the subsequent you turn is that going to be enough to come the markets . Yeah, thats a great question. I mean, well, one big reason why the u. K. Many big budget was so poorly received, was number one, the size of the dest. It is fairly large, the tax cuts. And then before that there was the Energy Subsidy<\/a> with the introduction of price caps in the u. K. So the amount of borrowing the government is having to do is very large compared to what it had announced in the previous administration. So one was the, the scale of the desk did, but also it was the way the u. K. Was going to fund that deaf fit, which was to issue bonds, but particularly issue bonds at the shorter 10 of the cut, the 12. 00 parts of the curve which one particularly liquid. And so this seems to be a lack of chord nation with the Management Office<\/a> in terms of the way the government would issue bonds. And that really sets a set, a bad tone for the industry markets in u. K. Which over the past week or so good experience, significant volatility then on the, on the do turn. To some extent it does potentially help the administration in so far as it removes one, its the politically toxic parts off the mini budget. But at the same time it has, it is a huge and so other parts of the conservative party can smell blood. And so they may challenge other parts of this trust is program which could introduce much uncertainty about what the government can actually do Going Forward<\/a>. And will people on the lowest income still pick up the bulk of the costs of the costs and, and what about middle class families . Everything from mortgage to, to food is getting more expensive now and you can absolutely so on balance, the measures are regressive, which means that people at the lower end will suffer, will get the least amount of bent that will suffer more than people who have more income and not apply to lower economic classes as well as middle class as well. And as you write, you points out the, the thing that really hit people hard is the increase in interest rate. So peoples mortgage is when they reset their mortgages. Most people in u. K. Have to you know, 2 year fixed Mortgage Rates<\/a> and many of them will start to reset over the next 12 months. Theyll be in for a shock than Monthly Payments<\/a> could double or triple even in many, many cases. So this is really quite a big shot to, to the system. Express, especially peoples expenses. And the bank of england, this is, is not going to keep intervening for, for too much longer. They are expected to, to raise Interest Rates<\/a>. But what does all of this mean Going Forward<\/a> then . Yeah, the bank begins in a tough situation because on the one hand, theyve committed to stock buying government bonds. But obviously last week they have to buy government bonds to people lies the u. K. In straight markets, so thats one child and they face because theyre having to do things contradicts and their policy of that time, as you rightly points out they, they have committed to raising Interest Rates<\/a> to reduce inflation. Now the issue here is that the market so expect them to raise Interest Rates<\/a> very significantly up to maybe 5 percent. So even 5 hops that by next year, thats more than the bank of england said that they are willing to increase in rates by but inflation is very high and the u. K. Now of course, because the u. K. Has this energy price cap, that means the patient could come down a bit, but on balance banking, thankful and is in the top situation of having to raise rates at a time where peoples peoples Household Bills<\/a> are going up. And this, these plans by the, the British Government<\/a> have been dubbed trust nomics and its modeled on reaganomics, which is of course, a reference to the u. S. President s tax cuts in the 1918. The idea being that these tax cuts would create more wealth in the economy and thereby lead to higher tax revenues. Does. Does that work . I mean, has it ever really work . Thats a good question. I mean, theres a big debate around all of this. I mean, in general, it seems like the effects are much weaker than people think. So that will trickle down economics that the, the historic evidence is quite weak, that it does work. What does tend to work more so called supply side reforms. And this is something that part of trust economics, which is to reduce regulations, reduce red, say make it easy for business to operate in the u. K. So that is something that lives proper ministration is engaging in other potentially could be positive in the long run. So there is a silver lining, and all of this, the question is whether she has the will and the buy in from a policy to be able to push through those reforms in the coming few years. So, i mean, you, i know you mentioned the sort of political implications of this has that has the Prime Minister<\/a>, lost her credibility. You think what, what does this mean for the long term and for the conservative party, i think theres been a big loss of credibility. One basic example is the fact that many of the, these announcements were not discussed with the rest of the cabinet. So the rest of the cabinet are starting to speak again, blue cross in public, which is a very bad sign. Public polling shows that lives cross is the least popular, tory leader for in modern times. So shes lost a lot of credibility with the public, but also within her party, said as theres already talk that there could be another leadership challenge which introduces additional uncertainty. So the next month or so, i was going to be critical for this cross to try to get over this negative and tried to stabilize her position. So its a very precarious situation that shes been right now, and the next 45 weeks are going to be critical to see whether shell be able to regain a credibility and push through her program. Will add half ease in london nicely with us. Great, thank you. The the United States<\/a> has gone through 332. 00 climate related disasters in the past 40 years that have cost, at least a 1000000000. 00, and theyre happening more often. Now. Hurricane ian is the latest and its estimated that could cost up to a 100000000000. 00 in damage and economic losses. That makes it one of the costliest storms in us history. President joe bidens recent climate law is providing only 37000000000. 00 a year over a decade. Christmas salumi reports from new york, tallying up the losses from Hurricane Ian<\/a> has only just begun. Our roof is in the back of the house. For these retirees, seeing the damage to their homes and neighborhood was overwhelming. Theres no words for it. Its like holy cow, what a mess. The south west coast of florida took the brunt of wind and storm surge, but the impact of the heavy rainfall was felt further inland and up the United States<\/a>. Eastern coast experts say whether storms is one impact of Climate Change<\/a>. The majority of the cost as well as the lives lost as a result of hurricanes and tropical cycling comes from flooding. It comes from a storm surge. It comes from the rainfall. One of the costliest storms in u. S. History superstore. Miss sandy wasnt even a hurricane by the time i got here in new york, and yet heres where did the most damage. 82000000000. 00 and flooding an infrastructure costs some early estimates for hurricane in are approaching that. More than 40000 utility workers were dispatched to florida alone to help restore pat power water mains and roads have also suffered extensive damage. Not to mention bridges. The governor said 800 of them were in need of assessment. President biden declared a disaster in florida. Paving the way for federal assistance for infrastructure as well as individuals. It me, the federal government provide individual assistance of 37900. 00 for home repairs and other 37900. 00 for loss property for anything from automobile to last wedding with several Health Care Facilities<\/a> damaged and forced to evacuate Health Impacts<\/a> and related costs will take years to fully understand and has gone into flash while the human cost remain. Incalculable. Kristin salumi for counting the cost new york, oregon and also knocked out pow across all of cuba and devastated some of the countries most important tobacco farms. Several other nations experienced extreme weather conditions last month, including pakistan, where the worst floods in the countrys history left a 3rd of its people under water. The un secretary general antonia good parish accused the wolves 20 riches countries of not doing enough to stop the planet from overheating and developing countries are calling on rich nations to pay the losses that Climate Change<\/a> has inflicted on the worlds poorest people. Well, joining us now from munich is dr. Miranda shaw as chair of environmental and Climate Policy<\/a> at the Technical University<\/a> of munich. Thanks for being with us, doctor. Let me ask you 1st off, the damage for this is estimated cost up to 100000000000. 00. How is that going to be paid for . Whos going to pay for it . Its an extremely expensive storm that is going to cost the Insurance Companies<\/a> as well as private individuals and eventually also the state huge amounts of money. Its, its something that all of us will have to chip into all of these kind of big storms or storms that need to be paid for by multiple individuals. But the reality is, the money thats money that many people dont pass. And the un secretary general antonio parish has said hurricane he and shows that no economy in the world is, is immune from the climate crisis. Is this 370000000000. 00 . Thats the, the government there is providing under this new climate noise that going to be enough to tackle the problem. You know, theres so much work that needs to be done with Building Infrastructure<\/a> in north america. The United States<\/a> in particular, which just hasnt invested enough, whether its in the electric grid system and bridges and roads. And then a new technologies like the Renewable Energy<\/a> field or electric automobiles that, that alone is going to require most of that money. And when we look at climate adaptation, the reality that we have rising sea levels that we have storms that are expected to increase in intensity. So what we saw here with, with e n, as is likely to become something thats much more regular, much more often really damaging storms. Theres going to be a lot more money that needs to be invested into rethinking how we build, where we build and bringing nature back in, in order to protect coastlines, better in the past, weve been building, and i say we, i mean all around the world, weve been building right along the coast. Weve been building an areas where it requires deforestation taking away the mangrove forests and up South East Asia<\/a> or in the florida keys, where you see people building on the sandbanks. Its really something that needs to be reconsidered because Climate Change<\/a> is going to mean were going to have higher sees were going to have more storm surges. Were going to have more intense rainfalls. And this is, unfortunately only the beginning of the, of a really serious problem. Yet lets talk about the Energy Crisis<\/a>. The Current Energy<\/a> crisis right now, which is reflecting much of the world and how thats hampering efforts to to, to combat is, is that hampering efforts to combat global china Climate Change<\/a>, or would it perhaps accelerate the transition to Renewable Energy<\/a> . Yes, we really need to wake up and start thinking about how we can, we are cells away and rapidly from fossil fuels and build out alternatives. Energy efficiency is still a real potential. Theres still a lot of Energy Saving<\/a> potential, which is the cheapest way to deal with a crisis. But then also to invest in Renewable Energy<\/a>, which are much cheaper than they used to be. You can, you can put photovoltaics on to School Buildings<\/a> on the roof tops offshore. Wind, which provides a fairly steady kind of wind. Were seeing big improvements with heat pumps and the potential to heat and cool with, with using kind of a Geothermal Energy<\/a> system. So theres a lot of potentials here and were seeing booming trends in the industry. But theres a long ways to go. And egypt is pushing for loss or damage. Converse compensation at the top of the un. Im, its somebody agenda is hosting the next climate summit. Do you expect any progress there and will countrys ever live up to this 100000000000 on a pledge on, on adaptation and mitigation . Well, certainly the developing countries that have contributed least to the Climate Change<\/a> problem are the ones that are going to most seriously feel the branch of these extreme storms. You know, whether its the floods or the droughts or extreme temperatures. These are the areas that are also least able to cope with these extremes. And so i think there is something to this question of, of compensation on dealing with the damages that they are facing. Denmark is actually signed up in the 1st country to pay for some of this damage. So its is setting a new marker for the rest of the world. But we havent seen real problems getting countries to, to actually pay up the commitments have been made politically on paper. But in reality, the funds are only flowing in part. And i think this is an area where we need to rethink also how we cooperate with the developing world. We need to bring in insights from not only the north, but also from the south and thinking about what are the right approaches to adaptation. How can we make sure that Food Security<\/a> is still there for, for areas that are being hit by drop or salad is ation of soils. We need to think about how we build differently in developing countries to deal with, with monsoon rains that are going to become more extreme. Im so theres, theres a lot of work to be done, but also a lot of potential. But its true, the question of whos going to pay for this is very big on the agenda. And unfortunately thats going to be a very difficult challenge to, to get through right now, because were all suffering from the Energy Crisis<\/a> and Opec Oil Embargo<\/a> right now. Obviously the, the russian war and the ukraine is doing crazy things to Energy Prices<\/a> around the world. And in this kind of political context, i fear its going to be a challenging uphill battle in the next kaufman egypt. Dr. Miranda roy us in munich, thanks will be with us. Thank you so much. Now, commercial air travel is making a comeback from the pandemic after months during which it was virtually grounded. Thats led to an increase in demand for new planes to steer the industries recovery. Airplane deliveries and commercial services could be worth more than 10 trillion dollars over the next 20 years. The manufacturers are also under pressure to cut their Carbon Emissions<\/a> to save the planet. I just said, i saw some of been javin spoke with michael, also the Vice President<\/a> of american plane make a boeing. He started by asking about the industries outlook. Well, weve ation, hes had a really tough 3 years because of it. But he is coming out globally much faster than people expecting, not starting with local flights and National Flights<\/a> and regional flights. But even interNational Flights<\/a> are picking up really, very foot very fast. And this part of the world is actually come back faster than many other parts of the world in terms of being back to 2019 capacity. So its quite exciting how that industry is picked up. You are a long term asana. We make a 20 year forward projection, were pretty much sticking to where it was before. So were talking about the wealth, doubling about 240041000 new airplanes being bought over that 20 year period of this industry has a huge future. And the whole of your region is part of that future because its a key part of the world for the russian fleet has been quite big in the past. But if you look for that 20 year period, actually only a 1000 play and just over the 1000 planes were in the forward look for russia itself. But soon as the war started, we cut out everything we do in russia. We had quite a bit of ration in russia, and there is nothing that now weve even stopped chosen to stop taking titanium from russia. Not everybody has done boeing, decided for good reason that we would not do that. One of the Major Concerns<\/a> about sustainability and sustainable fuel is that it isnt the Silver Bullet<\/a> that people would like to see it. There is an issue with transporting it. There are that many people who are producing it, even when it is being produced. The price is quite high, so the 2050 Carbon Neutrality<\/a> target is it achievable . Is it real and how is going going to help . There are 4 big amounts to this. First. The best thing you can do is buy a new play with from whichever company having 25 in common reduction on a plane that replaces no pain. The 2nd thing that were working on is Digital Technology<\/a> to help the fly more efficiently and avoid separately my airport. You thought you can save about 10 percent that way. Of the 3rd, and this is the big new area for us, is to get those fees flying with sustainable asian fuel and then build that beyond 2050. Were looking at new technologies, electric plains, where does hydrogen fit into this . But that wont change the fleet. Thats coming now its the same, will evasion fuel which will help do that. And particularly for a place like cut because here you have very long whole passengers and 80 percent of c o 2 output come from the long whole flight and we do it ourselves. All the time and you can do it 100 percent in a demonstration. But in practice its not, you know, make because the price is several times higher than conventional fuel. So how do we get that change that is partly scale of production. And youre right, it has to be around the world. I mean, not in every country, but in, in most regions. And each region will have its own way of producing the technology. There is a question of getting scale at a price that works for the industry. And were, were, lets talk about boeing Going Forward<\/a>. How is bullying going to sustain its growth . Is a gun going to come from . Technology is going to come from the variation sector in the commercial pot, or is it going to be the military hardware and solutions that going provides . I think its all 3 of those. I mean, we have roughly 6040 the commercial over to the, for the defense side of our business, but built into that a big and growing factor call service. So on both commercial and defense side, were helping sustain airplane through the life of the cost of running the plains. So thats all a big, big growth area in my job is to see how we can become even more global as a company. We already coakley global, but the i see big growth, for example, in the commercial feel in asia, middle east and asia are going to be big markets over the next 2020 years. And all of that is growth that were very excited about it as we come out of poverty. The 3 hardest years in aviation history, in terms of commercial flight because of it. And that is our show for this week. Remember, you can get in touch with us by switching me at as m. C. K, and do use the hash tag acdc when you do or drop us an email counting the cost that al jazeera dot net is our address. As more for you online at al jazeera dot com slash ctc, thatll take you straight to our page, which as individual reports, links, an entire episode for you to catch up on that is it for this edition of counting the cost im has im seeking from the whole team here, thanks for joining us. The news on al jazeera is next. This november, the world is coming to cattle and the clock is ticking as the main event gets closer with every step of the way. So im gonna get you on that with a new show each month, i think can expect some strong support here in katherine bringing the latest news from teens and fans in different regions across the globe as they look to make their mark on to patch up 2020 them to the well comp contact with everyone else. Oh no, julia. Little moment. Make a plan with emission challenge. Back for patients and cultural tradition. Hollywood thing on here. 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