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Just when you thought it was safe to hope interest rates might soon peak, along comes more bad news. It looks likely that the El Nino weather phenomenon has returned, according to both the U.S. National Oceanographic and Atmospheric Administration and the Australian Bureau of Meteorology. Its appearance usually results in, or exacerbates, floods, heatwaves, water scarcity and wildfires, especially in the southern hemisphere. The damage these inflict on crops and infrastructure is inflationary, putting pressure on central banks to tighten monetary policy. If climate change makes such events stronger and more frequent, supply shocks will become embedded. ....
The World Bank said on Tuesday it has approved a $1.14 billion project to expand access to cleaner electricity in eastern Indonesia, for which it will provide $500 million in financial support. ....
Brazil aims to pass a regulatory framework for offshore wind and green hydrogen by the end of this year, the country's energy minister told Reuters on Tuesday, as Latin America's largest nation seeks to unlock new sectors to power its energy transition. ....
People with disabilities in Spain and other European countries have been disproportionately affected by unprecedented heat extremes, a leading human rights watchdog said on Monday, urging authorities to provide adequate support. ....
Record heat across Asia is putting its surging renewable power fleet to the test, highlighting the need for backup supply, transmission system upgrades and tariff reforms to ensure reliability and stave off a slowdown in green energy adoption. ....