Friday, October 11, 2024

Climate coopts the US election race

Today's newsletter looks at how climate change has moved to the forefront of the US election after two destructive hurricane strikes. You ca

Today's newsletter looks at how climate change has moved to the forefront of the US election after two destructive hurricane strikes. You can read and share a full version of this story on Bloomberg.com. For unlimited access, please subscribe.

Climate disasters reshape the presidential race 

By Zahra Hirji

Back-to-back, catastrophic strikes by Helene and Milton in the southeastern US are changing the contest between Vice President Kamala Harris and former President Donald Trump in its final weeks. 

In interviews and speeches, on the campaign trail and on social media, Harris, the Democratic nominee, and Republican Trump are increasingly talking about the same thing — hurricanes and disaster response — in very different ways.

Hurricane Helene made landfall as a Category 4 storm Sept. 26 in Florida's Big Bend region. It unleashed historic levels of rainfall that triggered deadly flooding, especially in western North Carolina. In the storm's wake, Harris and Trump rejiggered their travel schedules to visit affected communities, and they increasingly started talking about recovery efforts — especially after Milton, another monster hurricane, formed in the Gulf of Mexico.

Trump has used the twin disasters to attack Harris and President Joe Biden over their response, and has spread misinformation about that on his social media site Truth Social as well as in interviews and rally speeches. Trump has wrongly claimed that disaster relief funding is being redirected to migrants and that hurricane victims can only get $750 in aid. He also claimed without evidence that the relief effort is neglecting Republican communities. 

Kamala Harris walks with members of the US Armed Forces and North Carolina Governor Roy Cooper after being briefed on Hurricane Helene recovery operations in Charlotte on Oct. 5.  Photographer: Mario Tama/Getty Images

Meanwhile, Harris is spending much of her time talking about hurricane preparedness, response and relief. The issue came up when she appeared on the ABC daytime talk show The View. She pushed back on some of Trump's baseless claims about the Biden administration's post-Helene relief efforts. (Karoline Leavitt, a Trump campaign spokeswoman, told Bloomberg News, "The only misinformation is coming from the Harris-Biden Administration.")

She later called into The Weather Channel to counter more hurricane falsehoods.

Read More: Disinformation Stirred by Musk and Trump Adds Strain to Hurricane Recovery

Overwhelming scientific evidence shows climate change is making hurricanes more powerful, causing them to intensify more rapidly and infusing them with more rain. 

Harris hasn't dwelled on the link between the storms and global warming. And up to this point, she hasn't made climate a cornerstone of her election pitch, despite the significant climate legacy of the Biden administration and many Democrats saying global warming is among their top voting priorities. In the debate with Trump, she gave Biden's green initiatives a short mention before touting US oil and gas production.

Trump, who in the past called climate change a "hoax," has vowed to gut Biden's climate policies while belittling clean energy technologies such as wind power and electric vehicles. 

Read More: Trump 2.0 Climate Tipping Points

Both candidates are now talking about climate change even if they aren't using those words, says Pete Maysmith, senior vice president of campaigns for LCV Action Fund, the election-related side of the League of Conservation Voters.

Donald Trump, alongside Georgia Governor Brian Kemp, speaks at a temporary relief shelter in Evans, Georgia, on Oct. 4. Photographer: Evan Vucci/AP Photo

"I think sometimes there's this view that we need these magic words to be uttered or else we're not talking about climate change," says Maysmith. "Of course we're talking about climate change."

Environmental groups have followed the Harris campaign's lead on how to bring up climate with voters, focusing their ad buys and other voter education efforts on how federal climate spending is creating new jobs and bringing down energy costs generally, rather than detailing the policy specifics. And they're now taking her cue by messaging around the hurricanes.

LCV Action Fund recently released a short video on Instagram that shows images and footage of Helene's damage with a voiceover of Trump saying: "When people talk about global warming, I say the ocean is going to go down 100th of an inch within the next 400 years. That's not our problem." (Trump has made versions of this claim in campaign rallies and TV interviews.) The video has raked in more than 4 million views, in part because American musician Billie Eilish reposted it. 

Read and share a full story on Bloomberg.com.

Dangerous force

120 mph
The peak speed of Hurricane Milton's winds, which may have inflicted the storm's worst damage, in contrast to the extreme rain and catastrophic flooding brought by Hurricane Helene. 

China looks at shipping emissions

"People will have to factor in the costs of these different carbon environments into their vessel economics."
Authorities in China have started to ask some overseas shipowners to report on their carbon emissions, following the EU's recent adoption of a carbon levy on vessels.

Sweden's green hub stumbles

By Lars Paulsson and Rafaela Lindeberg

After a four-decade career teaching soldiers to fire grenades, machine guns and howitzers, Lars Hjerpe was looking forward to a quiet retirement in the untamed woods of Sweden's far north. Instead, he got a front-row seat to one of the world's biggest experiments in green industrialization.

It's been loud. Trucks regularly swirl up large dust clouds in front of Hjerpe's idyllic red cottage, where he'd dreamed of peacefully tending to the land and feeding his hens, as workers erect the world's first large-scale green steel plant across the street. The megafactory is part of a $100 billion effort to clean up some of the world's most polluting sectors. If it works, an area bigger than England near the Arctic Circle could become a key European supplier of everything from green steel to climate-friendly batteries, fuels and fertilizers.

The disruption has caused angst in Hjerpe's small town of Boden, though many of his fellow locals also acknowledge its potential to revive the area. "There's a lot of division over the project," he says over coffee and homemade cakes in his kitchen. "It might be really bad for me, but overall it's a good thing that will create jobs for the young."

Success is far from guaranteed. The steel factory built by Stegra AB is part of a cluster of projects backed by Vargas Holding AB, a Swedish impact investor whose mission is to cut global emissions by 1% — the equivalent of annual carbon pollution from Australia. But its other big industrial bet, an electric-vehicle battery maker called Northvolt AB, is now running out of cash and facing an uncertain future.

Read the full story on Bloomberg.com.

Worth a listen

Next month, when delegates from around the world meet in Baku, Azerbaijan at COP29, the biggest questions on the table will have to do with finance. Can rich nations find a way to meet developing countries' demand for up to $1 trillion each year in climate finance?

Avinash Persaud, special adviser on climate change for the Inter-American Development Bank, has spent his career looking for ways to make global markets work to unlock climate financing. Persaud tells Akshat Rathi why he believes climate change is an "uninsurable" event, and the kinds of financial instruments and commitments that can help poorer countries contribute to the energy transition and adapt to a warmer world.  Listen now, and subscribe on Apple, Spotify or YouTube to get new episodes of Zero every Thursday.

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