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Mayor of Moscow: Russia shot down 180 drones overnight in the Moscow region.On August 18th, Bank of America Securities issued a report stating that Zijin Mining International (02259.HK) reported a first-half net profit of US$1.45 billion, slightly higher than the profit forecast of approximately US$1.4 billion, and declared its first interim dividend. The target price was raised from HK$140 to HK$150, and the "Buy" rating was reiterated. Based on year-to-date performance, the bank raised its full-year net profit forecast for the company by 3% to US$3.1 billion, mainly reflecting lower unit cost assumptions.Hong Kong stocks two major MINIMAX-W stocks declined, with Zhipu (02513.HK) falling more than 10% and MINIMAX-W (00100.HK) falling more than 8%.According to Al Arabiya TV, an airstrike targeted the Abu Zuhur military airfield in the eastern countryside of Idlib, Syria.Futures Commentary by Everbright Futures: On August 17th, COMEX gold continued its upward trend, closing at $4473.1 per ounce, a gain of 0.81%. Domestic SHFE gold opened lower and closed higher in the night session, settling at 957.80 yuan per gram, a gain of 0.41%. Geopolitically, the ceasefire agreement window between the US and Iran expired yesterday, but negotiations remain deadlocked. Trump explicitly stated that he would not seek to extend the memorandum of understanding with Iran, saying there was "no timetable" for resolving the Iranian issue, and indicated that if Oman "obstructs US efforts to reopen the Strait of Hormuz and end the war with Iran," the US would bomb Oman. High oil prices and persistent US inflation risks have somewhat dampened market risk appetite, narrowing gold price gains. Additionally, according to data released by the US Treasury Department, foreign holdings of US Treasury bonds decreased by $72.1 billion month-on-month, bringing the total to $9.3 trillion. Since reaching a record high in February of this year, foreign holdings have declined in three of the past four months. With the release of US inflation data, the probability of an interest rate hike has significantly decreased, and the market has seen some profit-taking. However, the deepening of stagflation in the US, persistent geopolitical risks, and the central banks reduction of US Treasury bonds and purchase of gold all provide structural support for gold. Gold may maintain a high-level fluctuation or even a slightly stronger trend. Attention should be paid to the pressure on overseas gold prices near the 4,500 mark.

Al Gore asserts that climate change action has reached a "tipping point"

Haiden Holmes

Sep 21, 2022 10:35

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Al Gore, a former vice president of the United States and co-founder of Generation Investment Management, stated in an interview with Reuters that the world has reached a "positive tipping point" in the fight against climate change as rising oil and gas prices prompt governments to decarbonize more rapidly.


His examples included the $430 billion Inflation Reduction Act, which is widely regarded as the largest climate package in U.S. history, and Australia's promise earlier this month to decrease carbon emissions by 43 percent by 2030 and to net zero by 2050.


Gore anticipated policy shifts on climate change from Brazil following an impending election and from China following the resumption of talks between President Joe Biden and Chinese Vice Premier Liu He at the November G20 summit in Indonesia.


The war in Ukraine, which Russia refers to as a "special military operation," has caused oil and gas prices to spike, he said, adding that he was concerned about the efforts of some nations to increase fossil fuel production in response.


Gore stated that there is no such thing as a clean fossil fuel, just as there is no such thing as a healthy cigarette. According to the authors, "we do not want to see investments in fossil fuel infrastructure that A will not alleviate the short-term crisis and B would guarantee decades of increasing emission levels."


He stated, "There is evidence nearly everywhere in the world" of the accelerating rate of change, and added that worsening weather events were also pushing the imperative to act.


Al Gore stated that heatwaves in China, floods in Pakistan, and drought in Europe are examples of how "Mother Nature has joined the climate discussion."


In both "An Inconvenient Truth" (2006) and "An Inconvenient Sequel" (2017), Al Gore, the former vice president of the United States, argues that the struggle against climate change is a moral one.


In 2007, he shared the Nobel Peace Prize for his efforts to address climate change while serving as the chairman of Generation Investment Management, a London-based firm that invests in sustainable public and private markets and conducts research.


He said that some governments are removing fossil fuel facilities with decades of remaining life due to the declining cost of renewable electricity, while others are considering banning the sale of fossil fuel-powered automobiles.


"When the technology provides three times as many jobs per invested dollar as investments in fossil fuels, a very good tipping point will be reached," he stated.


In its most recent annual sustainability trends report, published on Wednesday, Generation anticipated that annual investments in the clean economy would surpass $1 trillion over the next few years.


According to the research, while this is less than what is required to keep global warming at 1.5 degrees Celsius over the pre-industrial average, it is increasing "at a rapid rate."

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