Research run by Danish researchers found Greenland’s ice sheet melted by around eight billion tonnes a day, twice its normal average rate during summer.
The heatwave affecting Greenland that day produced a massive melting event involving enough water to cover Florida with 5 centimetres of water. (Florida is 194 times bigger than Singapore)
Source: Heatwave causes massive melt of Greenland ice sheet (yahoo.com) Sun,1 August 2021
2021 Leaders Summit on Climate
In the latest push to combat climate change, world leaders made use of the summit as an opportunity to outline how their countries will contribute to stronger climate change ambition.
President Biden pledges to reduce U.S greenhouse gas emissions in half by 2030. The target more than doubles the country’s prior commitment under the 2015 Paris climate agreement which President Biden took action on his first day in office to return the United States to the Paris Agreement.
China, the world’s biggest emitter, has vowed to reach peak emissions by 2030 and be carbon neutral by 2060. During the summit, Chinese President Xi Jinping repeated the country’s previous commitments and emphasized green development and multilateralism to reduce global emissions.
The U.K. and European Union have committed to slash emissions by 68% and 55%, respectively, by 2030.
Japan’s prime minister Yoshihide Suga announced a stricter emissions target of 46% reduction by 2030.
Canada updated its target and vowed to reduce 2005 emission levels by 40-45% by 2030.
Source: Climate Summit 2021: Biden pledges to slash greenhouse gas emissions in half by 2030 (cnbc.com)
Impact of Climate Change at Home
Pinnacle Wealth Advisory on climate change
With United States re-joining the 2015 Paris Climate agreement and aggressive push by world leaders in 2021 Leaders Summit on Climate, Pinnacle Wealth Advisory will incorporate climate change and sustainable energy funds into our satellite investment portfolio.
To support climate change, initial sales proceeds from climate change and sustainable energy funds will be donated to Singapore’s climate change initiatives.
Pinnacle Wealth Advisory will see you in the next newsletter!