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Climate negotiators ended two weeks of intense talks on Saturday with consensus on urgently accelerating climate action. 

The Glasgow Climate Pact, combined with increased ambition and action from countries, means that 1.5C remains in sight, but it will only be delivered with concerted and immediate global efforts. 

About half of the world’s fossil fuel assets will be worthless by 2036 under a net zero transition, according to research.

Countries that are slow to decarbonise will suffer but early movers will profit; the study finds that renewables and freed-up investment will more than make up for the losses to the global economy.

Saudi Arabia said Middle Eastern economies will be boosted by efforts to cut planet-warming gases and announced a fund to invest in carbon-capture technology.

Global Economic Outlook Q3 2021: Picking Up Steam, Fueled By Vaccinations.
The effective end of the pandemic is approaching, particularly for the most advanced economies, as vaccinations become widely available, severe COVID-19 cases fall, and economies reopen. This is happening earlier and faster than previously assumed, driving both growth and inflation higher.

China’s Economy Is Reeling From Successive Punches: Eco Week – Bloomberg: China is counting the cost of a multiple whammy of hits to its economy, from a crackdown on the property market and an energy crunch to stringent virus controls and soaring commodity prices.   

Biofuel is a type of fuel that is produced from biomass (that is from plants and animal material). Unlike fossil fuels which take time to form because of the slow geological process, biofuels are readily available and can be produced from other sources apart from plants such as industrial waste with biological origin.

Oxide projects considered for US, elsewhere: International mine developers are striving to bring on stream new rare earths projects outside China to secure supplies of the minerals used in electric vehicle engines and wind turbines as prices surge, CEOs of two developer companies told S&P Global Platts.

Cryptocurrency experts believe it will surpass traditional finance in Australia as early as 2029 after a new report revealed the country had accumulated $7bn worth of digital coins.