Nigerian Distributed Renewable Energy Fund Targets $500 Million
The fund backed by the Nigerian Sovereign Investment Authority and the UN's Sustainable Energy For All organization, known as SEforALL, will be managed by Africa50, an infrastructure investor established by the African Development Bank. Nigerian pension funds will also invest, according to Damilola Ogunbiyi, SEforALL's chief executive officer.
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CNN
9 hours ago
- CNN
Trump's tariffs explained
Trump's tariffs explained The White House announced a new trade policy starting August 7 that affects virtually every nation as the US cemented its breakaway from decades of free trade toward a new protectionist era. A lot has happened over the last few months, and trade wars can be complicated to understand. 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CNN's Tamara Qiblawi reports. 01:35 - Source: CNN Carney says Canada will recognize Palestinian state Canadian Prime Minister Mark Carney has joined France and Britain in announcing plans to recognize a Palestinian state in September at the United Nations, as international pressure builds on Israel over the ongoing war and starvation crisis in Gaza. President Donald Trump reacted to the announcement by threatening to derail trade talks with Canada. 00:30 - Source: CNN Two leading Israeli human rights groups accuse Israel of genocide Two leading Israeli human rights groups have accused Israel of 'committing genocide against Palestinians in Gaza,' becoming the first such organizations to make the claim. 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Fast Company
11 hours ago
- Fast Company
Other countries are stepping up after Trump pulled the U.S. out of the climate fight
When President Donald Trump announced in early 2025 that he was withdrawing the U.S. from the Paris climate agreement for the second time, it triggered fears that the move would undermine global efforts to slow climate change and diminish America's global influence. A big question hung in the air: Who would step into the leadership vacuum? I study the dynamics of global environmental politics, including through the United Nations climate negotiations. While it's still too early to fully assess the long-term impact of the U.S.'s political shift when it comes to global cooperation on climate change, there are signs that a new set of leaders is rising to the occasion. World responds to another U.S. withdrawal The U.S. first committed to the Paris Agreement in a joint announcement by President Barack Obama and China's Xi Jinping in 2015. At the time, the U.S. agreed to reduce its greenhouse gas emissions 26% to 28% below 2005 levels by 2025 and pledged financial support to help developing countries adapt to climate risks and embrace renewable energy. too weak. Since then, the U.S. has cut emissions by 17.2% below 2005 levels —missing the goal, in part because its efforts have been stymied along the way. Just two years after the landmark Paris Agreement, Trump stood in the Rose Garden in 2017 and announced he was withdrawing the U.S. from the treaty, citing concerns that jobs would be lost, that meeting the goals would be an economic burden, and that it wouldn't be fair because China, the world's largest emitter today, wasn't projected to start reducing its emissions for several years. Scientists and some politicians and business leaders were quick to criticize the decision, calling it 'shortsighted' and 'reckless.' Some feared that the Paris Agreement, signed by almost every country, would fall apart. But it did not. In the United States, businesses such as Apple, Google, Microsoft, and Tesla made their own pledges to meet the Paris Agreement goals. Hawaii passed legislation to become the first state to align with the agreement. A coalition of U.S. cities and states banded together to form the United States Climate Alliance to keep working to slow climate change. Globally, leaders from Italy, Germany, and France rebutted Trump's assertion that the Paris Agreement could be renegotiated. Others from Japan, Canada, Australia, and New Zealand doubled down on their own support of the global climate accord. In 2020, President Joe Biden brought the U.S. back into the agreement. Now, with Trump pulling the U.S. out again—and taking steps to eliminate U.S. climate policies, boost fossil fuels, and slow the growth of clean energy at home—other countries are stepping up. On July 24, 2025, China and the European Union issued a joint statement vowing to strengthen their climate targets and meet them. They alluded to the U.S., referring to 'the fluid and turbulent international situation today' in saying that 'the major economies . . . must step up efforts to address climate change.' In some respects, this is a strength of the Paris Agreement—it is a legally nonbinding agreement based on what each country decides to commit to. Its flexibility keeps it alive, as the withdrawal of a single member does not trigger immediate sanctions, nor does it render the actions of others obsolete. The agreement survived the first U.S. withdrawal, and so far, all signs point to it surviving the second one. Who's filling the leadership vacuum From what I've seen in international climate meetings and my team's research, it appears that most countries are moving forward. One bloc emerging as a powerful voice in negotiations is the Like-Minded Group of Developing Countries, a group of low- and middle-income nations that includes China, India, Bolivia, and Venezuela. Driven by economic development concerns, these countries are pressuring the developed world to meet its commitments to both cut emissions and provide financial aid to poorer countries. China, motivated by economic and political factors, seems to be happily filling the climate power vacuum created by the U.S. exit. In 2017, China voiced disappointment over the first U.S. withdrawal. It maintained its climate commitments and pledged to contribute more in climate finance to other developing countries than the U.S. had committed to $3.1 billion compared with $3 billion. This time around, China is using leadership on climate change in ways that fit its broader strategy of gaining influence and economic power by supporting economic growth and cooperation in developing countries. Through its Belt and Road Initiative, China has scaled up renewable energy exports and development in other countries, such as investing in solar power in Egypt and wind energy development in Ethiopia. While China is still the world's largest coal consumer, it has aggressively pursued investments in renewable energy at home, including solar, wind, and electrification. In 2024, about half the renewable energy capacity built worldwide was in China. While it missed the deadline to submit its climate pledge due this year, China has a goal of peaking its emissions before 2030 and then dropping to net-zero emissions by 2060. It is continuing major investments in renewable energy, both for its own use and for export. The U.S. government, in contrast, is cutting its support for wind and solar power. China also just expanded its carbon market to encourage emissions cuts in the cement, steel, and aluminum sectors. The British government has also ratcheted up its climate commitments as it seeks to become a clean energy superpower. In 2025, it pledged to cut emissions 77% by 2035 compared with 1990 levels. 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Given the agreement's design, with each country voluntarily setting its own goals, the U.S. never had the power to drive it into obsolescence. The question is whether developed and developing country leaders alike can navigate two pressing needs—economic growth and ecological sustainability—without compromising their leadership on climate change. This year's U.N. climate conference in Brazil, COP30, will show how countries intend to move forward and, importantly, who will lead the way.
Hamilton Spectator
a day ago
- Hamilton Spectator
Donald Trump threatens trade talks over Canada's intent to recognize Palestinian state
OTTAWA—U.S. President Donald Trump says Canada's plan to recognize a State of Palestine will hinder his ability to reach a trade deal with Ottawa the day before his August tariff deadline . 'Wow! Canada has just announced that it is backing statehood for Palestine. That will make it very hard for us to make a Trade Deal with them. Oh' Canada!!!,' Trump posted in his Truth Social account shortly after midnight early Thursday morning. Almost a day earlier on Wednesday, the U.S. President had posted that 'THE AUGUST FIRST DEADLINE IS THE AUGUST FIRST DEADLINE — IT STANDS STRONG, AND WILL NOT BE EXTENDED. A BIG DAY FOR AMERICA!!!' Late Wednesday afternoon, Prime Minister Mark Carney announced that Canada intends to recognize a Palestinian state at the United Nations General Assembly in September. That commitment is predicated on whether the Palestinian Authority, the governing body in the occupied West Bank, agrees to a series of reforms, such as holding general elections in 2026 in which Hamas can have no role and ensuring that a Palestinian state is demilitarized. The prime minister spoke to Mahmoud Abbas, President of the Palestinian Authority, on Wednesday and said he had agreed to the conditions. Canada's move followed similar declarations from France, which did not tie any conditions to its promise , and the United Kingdom, which said it would recognize a State of Palestine unless Israel commits to a ceasefire in Gaza and agrees to a two-state solution without annexing territory in the West Bank. Those decisions followed growing pressure to act as mass starvation grips Gaza amid Israeli restrictions on delivering aid. In becoming the third G7 nation to make such a declaration in the past week, Canada has deepened the divide between the U.S. and its key allies. Trump, who has disagreed with Israeli Prime Minister Benjamin Netanyahu's denials starvation in the region, has nevertheless said that recognizing a Palestinian state could be viewed as 'rewarding Hamas.' Carney, in his news conference on Wednesday, told reporters that it was possible trade talks would blow past the Friday deadline. While he framing the ongoing negotiations as 'constructive' and 'complex' he suggested that U.S. tariffs on key sectors like autos, steel and aluminum will likely remain in place given Trump's view that such measures are necessary for the national security of the United States. More to come. —With files from Mark Ramzy and Alex Ballingall
