RCH635T USAF C-17 Globemaster departed Dover AFB wn
morning
Jeff Bezos EJM4 Falcon 900 EX on ground at Seattle Boeing Field after a 1 hour ground stop at Van Nuys Airport (San Fernando Valley), CA and an inbound from Prestwick Int'l
Prior stop at Boeing Field on the inbound from Prestwick for about an hour then down to Van Nuys
aye
COP26 coalition worth $130 trillion vows to put climate at heart of finance
Banks, insurers and investors with $130 trillion at their disposal pledged on Wednesday to put limiting climate change at the centre of their work, and got support in the form of efforts to put green investing on a firm footing.
An announcement made at the COP26 U.N. climate conference in Scotland commits its signatories, who account for around 40% of the world's capital, to assuming a "fair share" of the effort to wean the world off fossil fuels.
A main aim of the COP26 talks is to secure enough national promises to cut greenhouse gas emissions - mostly from burning coal, oil and gas - to keep the rise in the global temperature to 1.5 degrees Celsius. But how exactly to meet those pledges, particularly in the developing world -- is still being worked out. Above all, it will need a lot of money.
U.N. climate envoy Mark Carney, who assembled the Glasgow Financial Alliance for Net Zero (GFANZ), put the figure at $100 trillion over the next three decades, and said the finance industry must find ways to raise private money to take the effort far beyond what states alone can do. read more "The money is here - but that money needs net zero-aligned projects and (then) there's a way to turn this into a very, very powerful virtuous circle - and that's the challenge," the former Bank of England governor told the summit. Carney's comments reflected a problem often cited by investors who, in the face of a myriad of climate-related risks, need to be sure that they are being accounted for in a transparent and preferably standardised way around the globe.
However, others were not convinced. "These happy headlines conceal a wealth of loopholes and opportunities for backsliding that we cannot afford if we are to avoid climate breakdown," the Environmental Justice Foundation said in an emailed statement. "Net zero pledges mean nothing without fossil fuel divestment. Time for financial institutions to put their money where their mouth is and stop funding climate-destroying fossil fuels," the NGO's CEO Steve Trent added.
Carney has led an effort to ensure that financial institutions account for and disclose the full climate risks of their lending or investments, forcing the wider economy to price in costs that until now been largely concealed. These include not only the direct effects of more frequent extreme weather events, but also costs such as a loss of government subsidies for fossil fuels, or the knock-on health and environmental costs of greenhouse gas emissions.
Kristalina Georgieva, head of the International Monetary Fund, said it was crucial to incorporate climate data into everyday macroeconomic reporting. China's central bank governor, Yi Gang, said Beijing was working on a new monetary policy facility to provide cheap funds for financial institutions to support green projects, and that the People's Bank of China (PBOC) and the European Union would soon publish a shared definition of green investment. And the vice chair of the global Financial Stability Board, Dutch central banker Klaas Knot, said a mandatory global minimum standard for disclosure of climate risks was now needed for both financial stability and the provision of sustainable finance.
https://www.reuters.com/business/cop/wrapup-politicians-exit-cop26-130tn-worth-financiers-take-stage-2021-11-03/
morning frb
I do it too..just not as often.
kek
phaggits!!
Federal Reserve issues FOMC statement-Nov, 3rd 2021-the taper begins
The Committee decided to keep the target range for the federal funds rate at 0 to 1/4 percent and expects it will be appropriate to maintain this target range until labor market conditions have reached levels consistent with the Committee's assessments of maximum employment and inflation has risen to 2 percent and is on track to moderately exceed 2 percent for some time. In light of the substantial further progress the economy has made toward the Committee's goals since last December, the Committee decided to begin reducing the monthly pace of its net asset purchases by $10 billion for Treasury securities and $5 billion for agency mortgage-backed securities. Beginning later this month, the Committee will increase its holdings of Treasury securities by at least $70 billion per month and of agency mortgage‑backed securities by at least $35 billion per month. Beginning in December, the Committee will increase its holdings of Treasury securities by at least $60 billion per month and of agency mortgage-backed securities by at least $30 billion per month. The Committee judges that similar reductions in the pace of net asset purchases will likely be appropriate each month, but it is prepared to adjust the pace of purchases if warranted by changes in the economic outlook. The Federal Reserve's ongoing purchases and holdings of securities will continue to foster smooth market functioning and accommodative financial conditions, thereby supporting the flow of credit to households and businesses.
https://www.federalreserve.gov/newsevents/pressreleases/monetary20211103a.htm
LOKI82 USAF E-4B Nightwatch departed JBA west after arriving last night as GRIM99 from RAF Mildenhall
second in 'line' on dis >>105654 pb