In brief | 16 September '24

Bloomberg: Travel chaotic, damage mounts after Central European floods

Widespread flooding in central and eastern Europe from days of unrelenting rain is playing havoc with rail transportation and causing more evacuations of residents as well as damage to homes and infrastructure.

FT: Negative European electricity prices hit record level

European power prices have fallen below zero for a record number of hours this year, as the rapid development of solar and wind generation outpaces the continent’s ability to deal with excess supply.

German economy ministry: Cooperation between Australia and Germany in the fields of energy and climate is being expanded

Australia and Germany have signed an historic deal to deepen cooperation on new green hydrogen supply chains via € 400million (€660 million) H2 Global funding window to guarantee European buyers for Australia’s renewable hydrogen producers.

PwC: Truck Study 2024

By 2030, more than 20% of all trucks and buses worldwide are expected to be battery-electric powered. By 2040, 90% of transport is expected to be electrified, creating significant climate leverage as trucks emit on average more than 20 times as much CO2 as cars.

PIK: Global Warming's Economic Blow: Risks rise more rapidly for the rich

While the poorest bear the brunt of climate change, the economic risks from erratic weather are rising more rapidly for the rich. Countries like Brazil & China face severe impacts too.