Axios

The past eight years were the eight warmest years on record, and 2022 was the fifth-warmest on record globally, according to the European Union's Copernicus Climate Change Service.

Why it matters: The ranking, released Tuesday morning, shows the planet continues its long-term warming trend in response to growing amounts of greenhouse gases.

Federal Reserve chair Jerome Powell said in a speech on Tuesday the central bank is not a "climate policymaker," though acknowledged the Fed has a duty to ensure banks understand the financial risks associated with climate change.

Why it matters: How and if the Fed incorporates climate change initiatives into policymaking will continue to be a political flashpoint in the coming year. Powell seems to be drawing a clear line of how the Fed will maneuver the issue.

A new study finds that drought and flood-causing rains are linked to increases in deadly diarrhea-related illnesses for young children in the Global South.

The big picture: This further demonstrates the role of climate-related impacts on the inequitable burden of disease.

The recovery of Earth's ozone layer, the vital atmospheric shield that protects the planet by absorbing most of the Sun's harmful ultraviolet radiation, is back on track, according to a new report from a panel of United Nations-backed scientists.

Why it matters: The report found that recent rogue emissions of CFC-11, an ozone-destroying chemical that was primarily being released from factories in northeastern China, have significantly declined since 2018, putting the ozone layer on course to recover within four decades.

The job of the modern-day archaeologist is changing rapidly, as flooding, wildfires and other extreme weather-related curveballs damage or destroy excavation sites — and drought reveals long-hidden historic artifacts.

Why it matters: Important cultural treasures and historical records are at stake as heirlooms from the past are damaged or curiosity-seekers grab souvenirs.

California Gov. Gavin Newsom is asking President Joe Biden to make an emergency declaration in response to a series of deadly storms, as the National Weather Service warned the "most potent system" would arrive Monday.

The big picture: The latest in a barrage of destructive atmospheric rivers that've caused widespread power outages since late last month began unleashing more powerful winds and heavy rains on California Sunday night — prompting Sacramento County to issue evacuation orders for Wilton-area residents, with flooding "imminent."

Natural disasters are becoming more frequent, intense and "increasingly less natural," Australia's Climate Change minister Chris Bowen said Monday in response to the latest round of historic flooding to hit the country, per the Guardian.

Driving the news: Bowen told reporters in Sydney there's "absolutely" a link between global warming and the recent flooding in Western Australia's Kimberly region — which saw remote communities along the Fitzroy River cut off as floodwaters in the town of Fitzroy Crossing peaked at a record 51.87 feet.