Oct 13, 2018

Climate, energy collide in annual UN meeting

Illustration: Lazaro Gamio/Axios

The world’s dual attempts at addressing climate change and increasing access to energy are set to clash at an annual United Nations conference.

Driving the news: A seminal report released Oct. 8 by a UN scientific body ahead of the December confab underscored the urgency of climate change and what drastic efforts should be taken to address it.

The intrigue: The conference is being held in Katowice, Poland — a small city known for its history mining coal in a country still heavily dependent upon the resource.

  • Coal emits the most carbon dioxide compared to other fossil fuels.
  • It has historically been the cheapest and most prevalent electricity option in many countries.
  • Coal remains the dominant power source in many of the world’s fastest-growing economies like China and India, which prioritize cheap energy access ahead of environmental concerns.

The details: Negotiators from hundreds of countries, including the U.S., will hash out additional details on the big 2015 climate accord agreed to in Paris.

  • Trump administration officials are expected to attend this year’s conference, like they did last year.
  • But there's unlikely to be any movement toward reconsidering President Trump’s vow, articulated at a Rose Garden speech in June 2017, to withdraw America from the deal.

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Go deeper

Situational awareness

Photo: Brett Carlsen/Getty Images

Catch up on today's biggest news:

  1. Mike Bloomberg offers to release women from 3 NDAs
  2. Wells Fargo to pay $3 billion to settle consumer abuse charges
  3. Bloomberg campaign says Tennessee vandalism "echoes language" from Bernie supporters
  4. Scoop: New White House personnel chief tells Cabinet liaisons to target Never Trumpers
  5. Nearly half of Republicans support pardoning Roger Stone

Wells Fargo agrees to pay $3 billion to settle consumer abuse charges

Clients use an ATM at a Wells Fargo Bank in Los Angeles, Calif. Photo: Ronen Tivony/SOPA Images/LightRocket via Getty Images

Wells Fargo agreed to a pay a combined $3 billion to the Justice Department and the Securities and Exchange Commission on Friday for opening millions of fake customer accounts between 2002 and 2016, the SEC said in a press release.

The big picture: The fine "is among the largest corporate penalties reached during the Trump administration," the Washington Post reports.

Bloomberg offers to release women from 3 nondisclosure agreements

Mike Bloomberg. Photo: Brett Carlsen/Getty Images

Mike Bloomberg said Friday his company will release women identified to have signed three nondisclosure agreements so they can publicly discuss their allegations against him if they wish.

Why it matters, via Axios' Margaret Talev: Bloomberg’s shift in policy toward NDAs comes as he tries to stanch his loss of female support after the Las Vegas debate. It is an effort to separate the total number of harassment and culture complaints at the large company from those directed at him personally. That could reframe the criticism against him, but also protect the company from legal fallout if all past NDAs were placed in jeopardy.