Science & Environment
Oil giant Shell posts small drop in third-quarter profit to $6 billion
The Shell logo is displayed outside a petrol station in Radstock in Somerset, England, on Feb. 17, 2024.
Matt Cardy | Getty Images News | Getty Images
British oil giant Shell on Thursday posted a small year-on-year drop to a stronger-than-expected third-quarter profit, partly owing to a sharp drop in crude prices and to lower refining margins.
The energy company reported adjusted earnings of $6 billion for the July-September period, beating analyst expectations of $5.3 billion, according to estimates compiled by LSEG.
Shell posted adjusted earnings of $6.3 billion in the second quarter and $6.2 billion in the third quarter of 2023.
Shell said it will buy back a further $3.5 billion of its shares over the next three months, while holding its dividend unchanged at 34 cents per share.
Net debt came in at $35.2 billion at the end of the third quarter, down from $40.5 billion when compared to the same period last year.
Shares of the London-listed firm have fallen around 3% year-to-date.
Ahead of the firm’s third-quarter earnings, Shell warned that refining profit margins had dropped by more than 28% on a quarterly basis, while trading results for its chemicals and oil products division were expected to be lower.
British rival BP on Tuesday posted its weakest quarterly earnings in nearly four years, weighed down by lower refining margins.
BP reported underlying replacement cost profit, used as a proxy for net profit, of $2.3 billion for the third quarter. That beat analyst expectations — but reflected a steep drop when compared to the same period a year earlier.
Oil prices tumbled over 17% in the third quarter amid concerns over the outlook for global oil demand.
Science & Environment
Chinese EV maker BYD’s quarterly sales overtook Tesla’s for the first time
New cars, among them new China-built electric vehicles of the company BYD, are seen parked in the port of Zeebrugge, Belgium, October 24, 2024.
Yves Herman | Reuters
Chinese electric vehicle maker BYD reported third-quarter revenue that topped that of behemoth rival Tesla for the first time.
On Wednesday, BYD reported revenue for the three months ended Sept. 30 of 201.12 billion yuan ($28.24 billion), up 24% from a year ago. That exceeded Tesla’s revenue of $25.18 billion reported for the same period.
It’s a first for the Beijing-based EV giant as its solid performance came despite the EV downtrend in mainland China. The company sold a record number of passenger vehicles in August.
At least half of BYD’s sales are hybrid vehicles, whereas Tesla’s vehicles are battery only.
But in terms of net profit, Tesla still took the lead.
The American carmaker saw net profit of $2.18 billion from July to September, up 16.2% from a year ago. Its Chinese counterpart, BYD, saw an increase in profit of 11.5% in the same period to 11.6 billion yuan.
Likewise, Tesla remains on top in year-to-date sales, slightly edging out BYD’s roughly $70.53 billion total revenue at $71.98 billion.
BYD is one of the most prominent EV makers in China, the world’s largest automotive market where it must contend with both domestic and global rivals for dominance.
On BYD’s home turf, Elon Musk’s Tesla is one of its toughest competitors. The Model Y remained the best-selling battery-powered electric car in China in September, according to Chinese automotive website Autohome. BYD’s Seagull trailed closely behind in second place.
The competition will likely only get more cut-throat as European Union tariffs came into effect this week, despite China’s disapproval.
On Wednesday, the EU announced it would implement tariff increases on Chinese EVs, taking duties to as high as 45.3%.
The extra tariffs range from 7.8% for Tesla to 35.3% for SAIC Motors, which will stack on top of a 10% standard import duty on all electric vehicles.
While tariffs imposed on BYD and Tesla were reduced from an earlier proposal, both automakers have taken steps to ramp up production in Europe which would help them work around the duties.
Reuters reported earlier this month that Tesla got the green light to double the capacity of its Berlin plant.
And BYD announced last year it would set up shop in Hungary. In July, the Chinese automaker said it would invest $1 billion into a plant in Turkey, which has a customs union with the EU.
— CNBC’s Evelyn Cheng contributed to this report.
Science & Environment
China declares success as its youngest astronauts reach space
A Chinese spacecraft with a three-person crew, including the country’s first female space engineer, has docked after a journey of more than six hours.
The crew will use the homegrown space station as a base for six months to conduct experiments and carry out spacewalks as Beijing gathers experience and intelligence for its eventual mission to put someone on the Moon by 2030.
Beijing declared the launch of Shenzhou 19 a “complete success” – it is one of 100 launches China has planned in a record year of space exploration as it tries to outdo its rival, the United States.
The BBC was given rare access to the Jiuquan Satellite launch centre in Gansu and we were just over a kilometre away when the spacecraft blasted off.
Flames shot out of the rocket launcher as it took to the skies, lighting up the Gobi Desert with a deafening roar.
Hundreds of people lined the streets, waving and cheering the names of the taikonauts, China’s word for astronauts, as they were sent off.
At the Tiangong space station, the Shenzhou 19 crew met with three other astronauts who are manning the Shenzhou 18 and will return to Earth on 4 November.
Just two years ago, President Xi Jinping declared that “to explore the vast cosmos, develop the space industry and build China into a space power is our eternal dream”.
But some in Washington see the country’s ambition and fast-paced progress as a real threat.
Earlier this year, Nasa chief Bill Nelson said the US and China were “in effect, in a race” to return to the Moon, where he fears Beijing wants to stake territorial claims.
He told legislators that he believed their civilian space programme was also a military programme.
‘Dreams that spark glory’
However, in Dongfeng Space City, a town built to support the launch site, China’s space programme is celebrated.
Every street light is adorned with the national flag.
Cartoon-like astronaut figurines and sculptures sit in the centre of children’s parks and plastic rockets are a centrepiece on most traffic roundabouts.
A huge poster with Xi Jinping on one side and a photo of the Shenzhou spacecraft on the other greets you as you drive into the main compound.
Hundreds have gathered in the dark after midnight to wave flags and brightly coloured lights as the Taikonauts make their last few steps on Earth before heading to the launch site.
The brass band strikes up Ode to the Motherland as young children, kept up late for the occasion, their cheeks adorned with the Chinese flag, all shout in full song.
This is a moment of national pride.
The pilot of this mission, Cai Xuzhe, is a veteran but he’s travelling with a new generation of Chinese-trained taikonauts born in 1990 – including China’s first female space engineer, Wang Haoze.
“Their youthful energy has made me feel younger and even more confident,” he told the gathered media ahead of take-off.
“Inspired by dreams that spark glory, and by glory that ignites new dreams, we assure the party and the people that we will stay true to our mission, with our hearts and minds fully devoted. We will strive to achieve new accomplishments in China’s crewed space programme.”
Standing to his left, beaming, is Song Lingdong.
He recalls watching one of China’s first space station missions as a 13-year-old with “excitement and awe”. He chose to become a pilot in the hope that this is how he could serve his country.
All three convey their deep sense of national pride, and state media has emphasised that this will be its “youngest crew” to date.
The message is clear: this is a new generation of space travellers and an investment in the country’s future.
China has already selected its next group of astronauts and they will train for potential lunar missions as well as to crew the space station.
“I am determined not to let down the trust placed in me,” says Mr Song. “I will strive to make our country’s name shine once again in space.”
China’s name has been “shining brightly” a lot lately when it comes to headlines about its space programme.
Earlier this year, the country achieved a historic first by retrieving rock and soil samples from the far side of the Moon.
In 2021, China safely landed a spacecraft on Mars and released its Zhurong rover – becoming just the second nation to do so.
China also has a fleet of satellites in space and has plans for many more.
In August it launched the first 18 of what it hopes will eventually be a constellation of 14,000 satellites providing broadband internet coverage from space, which it hopes will one day rival SpaceX’s Starlink.
Elon Musk, Starlink’s chief executive, admitted on his own platform X that China’s space programme is far more advanced than people realise.
But others in the US are voicing even greater concerns, as they fear this technology can be weaponised.
The head of US Space Command, General Stephen Whiting, told a space symposium in April that China and Russia were both investing heavily in space at a “breath-taking speed”.
He claimed that since 2018, China has tripled the amount of intelligence, surveillance and reconnaissance satellites it has in orbit, building a “kill web over the Pacific Ocean to find, fix, track and target United States and allied military capabilities”.
The new space race
China’s space exploration is a “collective mission for humanity”, says Li Yingliang, director of the general technology bureau of China’s Manned Space Agency, dismissing US concerns as “unnecessary”.
“I don’t think this should be called a competition… China has long upheld the notion of peaceful use of space in its manned space programme. In the future, we will further develop international co-operation in various aspects of manned space technology, all based on sharing and collaboration,” he adds.
But the new space race is no longer about getting to the Moon. It’s about who will control its resources.
The Moon contains minerals, including rare earths, metals like iron and titanium – and helium too, which is used in everything from superconductors to medical equipment.
Estimates for the value of all this vary wildly, from billions to quadrillions. So it’s easy to see why some see the Moon as a place to make lots of money. However, it’s also important to note that this would be a very long-term investment – and the tech needed to extract and return these lunar resources is some way off, writes the BBC’s science editor Rebecca Morelle.
Chinese experts at the launch centre were keen to point out the benefits of Beijing’s space station experiments.
“We study bones, muscles, nerve cells, and the effects of microgravity on them. Through this research, we’ve discovered that osteoporosis on Earth is actually similar to bone loss in space. If we can uncover unique patterns in space, we might be able to develop special medications to counteract bone loss and muscle atrophy,” said Zhang Wei, from the Chinese Academy of Sciences.
“Many of these experimental results can be applied on Earth.”
China is, at times, trying to downplay its advances.
At the launch of a roadmap for its space ambitions, which include building a research station on the Moon, returning samples of Venus’s atmosphere to Earth and launching more than 30 space missions by the middle of this century, Ding Chibiao from the Chinese Academy of Sciences said the country did not have a great number of achievements “compared to developed nations”.
And even here at the launch centre, they admit to “significant challenges” as they try to land a crew on the Moon.
“The technology is complex, there’s a tight schedule, and there are a lot of challenges,” said Lin Xiqiang, spokesperson for the China Manned Space Agency.
“We’ll keep up the spirit of ‘two bombs and one star’. We will maintain our self-confidence and commitment to self-improvement, keep working together and keep pushing forward. We’ll make the Chinese people’s dream of landing on the Moon a reality in the near future.”
That’s perhaps why President Xi appears to be prioritising the country’s space programme even as the economy is in a slow decline.
And even though they are bringing along international press to witness their progress – there are key restrictions.
We were kept in a hotel three hours from the launch site and transported back and forth by bus, a total journey of 12 hours, rather than being left on site for a few hours.
A simple trip to a friendly local restaurant was carefully guarded by a line of security personnel.
We also noticed a large sign in town holds a stern warning: “It’s a crime to leak secrets. It’s an honour to keep secrets. You’ll be jailed if you leak secrets. You’ll be happy if you keep secrets. You’ll be shot if you sell secrets.”
China is taking no chances with its new technology, as its rivalry with the United States is no longer just here on Earth.
The world’s two most powerful countries could soon be staking territorial claims well beyond this planet.
Science & Environment
Deadliest weather made worse by climate change, report says
Human-caused climate change made the ten deadliest extreme weather events of the last 20 years more intense and more likely, according to new analysis.
The killer storms, heatwaves and floods affected Europe, Africa and Asia killing more than 570,000 people.
The new analysis highlights how scientists can now discern the fingerprint of climate change in complex weather events.
The study involved reanalysing data for some of the extreme weather events and was carried out by scientists from the World Weather Attribution (WWA) group at Imperial College London.
“This study should be an eye-opener for political leaders hanging on to fossil fuels that heat the planet and destroy lives”, said Dr Friederike Otto, co-founder and lead of WWA.
“If we keep burning oil, gas and coal, the suffering will continue,” she said.
The researchers focused on the 10 deadliest weather events registered in the International Disaster Database since 2004. That was when the first study was published linking a weather event – a heatwave in Europe – with our changing climate.
The deadliest event of the last two decades was a drought in Somalia in 2011 which is reckoned to have killed more than 250,000 people. The researchers found the low rainfall that drove the drought was made more likely and more extreme by climate change.
The list includes the heatwave that hit France in 2015 killing more than 3,000 people, where researchers say high temperatures were made twice as likely because of climate change.
It also contains the European heatwaves of 2022, when 53,000 people died, and 2023, which led to 37,000 people losing their lives. The latter would have been impossible without climate change, the study finds.
It says the deadly tropical cyclones that hit Bangladesh in 2007, Myanmar in 2008 and the Philippines in 2013 were all made more likely and intense by climate change. That was also the case with the floods that hit India in 2013.
The researchers say the real death toll from these events is likely to be significantly higher than the figures they quote.
That is because fatalities linked to heatwaves do not tend to be recorded as such in much of the world, especially in poorer nations which are most vulnerable.
The study was carried out before the storms in Spain left dozens dead this week.
The link between climate change and weather events is only possible because the two scientists who founded the WWA – Dr Otto and a Dutch climatologist called Geert Jan van Oldenborgh – pioneered a way to track global warming in catastrophic weather events.
They knew that weather records showed that extreme weather events were becoming more intense. What’s more, a huge body of peer-reviewed science explained how warming the atmosphere can intensify extreme weather. What was missing was the link between a single event to rising global temperatures.
For years forecasters have been using atmospheric models to predict future weather patterns. Otto and Oldenborgh repurposed the models to run repeated simulations to work out how likely a weather event was in the current climate.
They also created parallel simulations which explored how likely the same event was in a world in which the industrial revolution had never happened. These computer models stripped out the effects of the billions of tonnes of CO2 that humans have pumped into the atmosphere.
The calculations meant they could compare how likely the same event was with and without the 1.2C of global warming that the world has already experienced since the industrial revolution.
“The massive death tolls we keep seeing in extreme weather shows we are not well prepared for 1.3°C of warming, let alone 1.5°C or 2°C”, said Roop Singh, of the Red Cross Red Crescent Climate Centre which supports the WWA.
She said today’s study showed the need for all countries to build their resilience to climate change and warned: “With every fraction of a degree of warming, we will see more record-breaking events that push countries to the brink, no matter how prepared they are.”
Science & Environment
FTX’s Nishad Singh gets not jail time, 3 years supervised release
Nishad Singh, former director of Engineering at FTX Cryptocurrency Derivatives Exchange, left, and Claire Watanabe, former senior executive at FTX Cryptocurrency Derivatives Exchange, arrive at court in New York, on Oct. 30, 2024.
Mackenzie Sigalos | CNBC
Former FTX executive Nishad Singh was sentenced to time served and three years of supervised release on Wednesday, becoming the fourth ex-employee of the collapsed crypto exchange to be punished. Singh was also ordered to forfeit $11 billion.
Singh faced a maximum sentence of 75 years but New York Judge Lewis Kaplan noted his cooperation with the government as “remarkable” and said he was entirely persuaded that Singh’s involvement with the fraud was far more limited than that of FTX founder Sam Bankman-Fried or Caroline Ellison, the former CEO of sister hedge fund Alameda Research.
Ellison was the star witness in the prosecution of Bankman-Fried and recently received a two-year prison sentence.
Singh, who was FTX’s head of engineering, pleaded guilty early last year to six criminal charges, including conspiracy to commit securities fraud, conspiracy to commit money laundering and conspiracy to violate campaign finance laws.
On Wednesday, Singh delivered a statement to the Court and said in a soft voice that he had strayed from his values and didn’t expect forgiveness. He said that assisting in the government’s investigation gave him purpose. Just before the hearing began, Singh was alone, pacing the elevator bank, as he rehearsed his statement from a single printed page.
FTX spiraled into bankruptcy in Nov. 2022, after the crypto exchange couldn’t meet customers’ withdrawal demands and allegedly stole $8 billion in client funds. In March, Bankman-Fried was sentenced to 25 years in prison and ordered to pay $11 billion.
Andrew Goldstein, Singh’s attorney and a former assistant U.S. attorney for the Southern District of New York, said that Singh became a participant in FTX’s wrongdoing at a very late stage and cited his extensive cooperation with the government, including testifying at Bankman-Fried’s trial last year.
Prosecutors noted that they met with Singh on at least 24 occasions for multiple hours and that he demonstrated “earnest remorse and eagerness to assist,” as well as “brought to the Government’s attention criminal conduct that the Government was not aware of and, in some cases, may have never discovered but for Singh’s cooperation.”
Nicolas Roos, one of the prosecutors in the trial, noted that the campaign finance scheme was “totally unknown” by the government and that Singh had “exclusively brought” details of the arrangement to the government.
Ross told Judge Kaplan that leniency “would send an important message.”
In Kaplan’s reading of the sentencing, he told the defendant, “You did the right thing.”
More than 30 of Singh’s friends and family members filled the pews of courtroom on the 21st floor of the Manhattan courthouse. His fiancee, parents and brothers were seated together in the front row.
More than 100 people submitted letters on Singh’s behalf, including one from Bankman-Fried’s brother, Gabe, who called him “one of the kindest people [he has] ever known.” He asked Judge Kaplan to show Singh “the same compassion he has shown others his entire life.”
John Ray, who took over as FTX CEO after the bankruptcy filing in 2022, also submitted a letter on Singh’s behalf, saying he had provided the debtors with valuable assistance and cooperation throughout the bankruptcy proceedings. Ray said Singh made substantial productions of documents, and he voluntarily returned Bahamian real estate purchased with FTX funds.
Ryan Salame, another former top lieutenant of Bankman-Fried, was sentenced to seven and a half years in prison in May. Gary Wang, the co-founder and ex-technology chief of FTX, will be sentenced Nov. 20.
— CNBC’s Dan Mangan contributed to this report.
WATCH: Caroline Ellison sentenced to two years in prison for role in FTX collapse
Science & Environment
China’s space station gets new crew as Beijing advances President Xi’s “space dream”
Three Chinese astronauts including the country’s only woman spaceflight engineer entered the Tiangong space station Wednesday morning following an early morning launch into orbit.
The Shenzhou-19 mission took off with its trio of space explorers from the Jiuquan Satellite Launch Center in northwest China, state news agency Xinhua and state broadcaster CCTV reported.
Among the crew is Wang Haoze, 34, the spaceflight engineer, according to the China Manned Space Agency (CMSA). She is the third Chinese woman to take part in a crewed mission.
The crew met with the astronauts from the previous Shenzhou-18 mission, “starting a new round of in-orbit crew handover,” Xinhua said.
The new Tiangong team will carry out experiments with an eye toward the space program’s goal of placing astronauts on the Moon by 2030 and eventually constructing a lunar base.
The space agency deemed the launch a “complete success,” Xinhua said, noting that the spaceship separated from the rocket it was on and entered its designated orbit about 10 minutes after taking off.
Xinhua later said the spaceship had “made a fast, automated rendezvous and docking with the front port of the space station’s core module Tianhe.”
The team will return to Earth in late April or early May next year, CMSA Deputy Director Lin Xiqiang said at a press event ahead of the launch. The current crew is scheduled to return to Earth on November 4. They’ve been on the space station for six months.
China’s ambitious space goals
China has ramped up plans to achieve its “space dream” under President Xi Jinping.
It constructed a space station after being kept out of the International Space Station, largely due to U.S. concerns over the Chinese Communist Party’s military arm’s overall control over the space program, The Associated Press points out, adding that Beijing’s moon program is part of a growing rivalry with the U.S. and others, Japan and India among them.
China was the third nation to put humans in orbit and has landed robotic rovers on Mars and the moon.
Crewed by teams of three astronauts that are rotated every six months, the Tiangong space station is the program’s crown jewel.
Beijing says it’s on track to send a crewed mission to the Moon by 2030, where it intends to construct a base on the lunar surface.
Only the U.S. has landed a crewed spacecraft on the moon so far.
One experiment the Shenzhou-19 crew’s time aboard Tiangong is scheduled to carry out involves “bricks” made from components imitating lunar soil, CCTV reported.
These items — to be delivered to Tiangong by the Tianzhou-8 cargo ship in November — will be tested to see how they fare in extreme radiation, gravity, temperature and other conditions.
Due to the high cost of transporting materials into space, Chinese scientists hope to be able to use lunar soil for the construction of the future base, CCTV reported.
The Shenzhou-19 mission is primarily about “accumulating additional experience,” Jonathan McDowell, an astronomer at the Harvard-Smithsonian Center for Astrophysics, told Agence France-Presse.
While this particular crew’s six-month stint aboard Tiangong may not witness major breakthroughs or feats, it is still “very valuable to do,” said McDowell.
China has in recent decades injected billions of dollars into developing an advanced space program on par with those of the United States and Europe.
In 2019, China landed a probe on the far side of the moon, making it the first spacecraft ever to do so. In 2021, it landed a small robot on Mars.
Tiangong, whose core module launched in 2021, is planned to be in use for about 10 years.
Science & Environment
Three times more land in drought than in 1980s, study finds
The area of land surface affected by drought has trebled since the 1980s, a new report into the effects of climate change has revealed.
Forty-eight per cent of the Earth’s land surface had at least one month of extreme drought last year, according to analysis by the Lancet Countdown on Health and Climate Change – up from an average of 15% during the 1980s.
Almost a third of the world – 30% – experienced extreme drought for three months or longer in 2023. In the 1980s, the average was 5%.
The new study offers some of the most up-to-date global data on drought, marking just how fast it is accelerating.
The threshold for extreme drought is reached after six months of very low rainfall or very high levels of evaporation from plants and soil – or both.
It poses an immediate risk to water and sanitation, food security and public health, and can affect energy supplies, transportation networks and the economy.
The causes of individual droughts are complicated, because there are lots of different factors that affect the availability of water, from natural weather events to the way humans use land.
But climate change is shifting global rainfall patterns, making some regions more prone to drought.
The increase in drought has been particularly severe in South America, the Middle East and the Horn of Africa.
In South America’s Amazon, drought is threatening to change weather patterns.
It kills trees that have a role to play in stimulating rainclouds to form, which disrupts delicately balanced rainfall cycles – creating a feedback loop leading to further drought.
Yet, at the same time as large sections of the land mass have been drying out, extreme rainfall has also increased.
In the past 10 years, 61% of the world saw an increase in extreme rainfall, when compared with a baseline average from 1961-1990.
The link between droughts, floods and global warming is complex. Hot weather increases the evaporation of water from soil which makes periods when there is no rain even drier.
But climate change is also changing rainfall patterns. As the oceans warm, more water evaporates into the air. The air is warming too, which means it can hold more moisture. When that moisture moves over land or converges into a storm, it leads to more intense rain.
The Lancet Countdown report found the health impacts of climate change were reaching record-breaking levels.
Drought exposed 151 million more people to food insecurity last year, compared with the 1990s, which has contributed to malnutrition. Heat-related deaths for over 65s also increased by 167% compared to the 1990s.
Meanwhile, rising temperatures and more rain are causing an increase in mosquito-related viruses. Cases of dengue fever are at an all-time high and dengue, malaria and West Nile virus have spread to places they were never found before.
An increase in dust storms has left millions more people exposed to dangerous air pollution.
“The climate is changing fast,” says Marina Romanello, executive director of the Lancet Countdown.
“It is changing to conditions that we are not used to and that we did not design our systems to work around.”
For the series Life at 50 degrees, BBC World Service visited some of the hottest parts of the world, where demand for water was already high. We found that extreme drought and rainfall had further squeezed access to water.
Since 2020, an extreme and exceptional agricultural drought has gripped northeast Syria and parts of Iraq.
In the past few years, Hasakah, a city of one million people, has run out of clean water.
“Twenty years ago, water used to flow into the Khabor River but this river has been dried for many years because there is no rain,” says Osman Gaddo, the Head of Water Testing, Hasakah City Water Board. “People have no access to fresh water.”
When they can’t get water, people make their own wells by digging into the ground but the groundwater can be polluted, making people ill.
The drinking water in Hasakah comes from a system of wells 25 kilometres away, but these are also drying and the fuel needed to extract water is in short supply.
Clothes go unwashed and families can’t bathe their children properly, meaning skin diseases and diarrhoea are widespread.
“People are ready to kill their neighbour for water,” one resident tells the BBC. “People are going thirsty every day.”
In South Sudan, 77% of the country had at least one month of drought last year and half the country was in extreme drought for at least six months. At the same time, more than 700,000 people have been affected by flooding.
“Things are deteriorating,” says village elder, Nyakuma. “When we go in the water, we get sick. And the food we eat isn’t nutritious enough”.
Nyakuma has caught malaria twice in a matter of months.
Her family lost their entire cattle herd after flooding last year and now survive on government aid along with anything they can forage.
“Eating this is like eating mud,” says Sunday, Nyakuma’s husband, as he searches floodwater for the roots of waterlillies.
During a drought, rivers and lakes dry up and the soil gets scorched, meaning it hardens and loses plant cover. If heavy rain follows, water cannot soak into the ground and instead runs off, causing flash flooding.
“Plants can adapt to extreme drought, to an extent anyway, but flooding really disrupts their physiology,” adds Romanello. “It is really bad for food security and the agricultural sector.”
Unless we can reduce emissions of greenhouse gases and stop the global temperature from rising further, we can expect more drought and more intense rain. 2023 was the hottest year on record.
“At the moment, we are still in a position to just about adapt to the changes in the climate. But it is going to get to a point where we will reach the limit of our capacity. Then we will see a lot of unavoidable impacts,” says Romanello.
“The higher we allow the global temperature to go, the worse things are going to be”.
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