Axios

Hurricane Lee is set to pass dangerously close to eastern Massachusetts, New Hampshire and Maine on Friday while making a direct hit in the Canadian Maritimes through Saturday, the National Hurricane Center said.

Threat level: Hurricane Lee is slated to bring tropical storm force winds (39 mph or greater) to southeastern New England beginning Friday afternoon, with hurricane-force winds (74 mph or greater) possible across Downeast Maine and parts of Canada through Saturday.

More big players in the climate funding world have ramped up support for various organizations led by people of color.

Driving the news: The Climate Funders Justice Pledge is today releasing data on 10 more foundations.

A month of sweltering conditions drove global ocean and air temperatures to their hottest August in at least 174 years of record-keeping.

Why it matters: The planet's summer of sizzling milestones is a clear indication that 2023 will likely rank at the top of the list of warmest years.

The Rockefeller Foundation on Friday announced a $1 billion, five-year commitment to climate change programs.

Why it matters: The organization, founded with a fortune built by fossil fuel, is one of the biggest players in behind-the-scenes work to prevent climate change from worsening.

• The new funding aims to ensure that global investments in sustainable development don't get overtaken by events associated with a warming climate.

Al Gore has a mix of optimism and hope at the pace of decarbonization but seethes with frustration over the players he thinks are blocking faster progress.

The big picture: In a wide-ranging interview with Axios, the former Vice President and longtime environmental advocate discussed his investment firm's latest insights on the state of the world's transition to a low emissions economy.

• He also detailed his increasingly confrontational stance toward the fossil fuel industry.

Top White House officials are keeping a close watch on soaring fuel costs, with regular discussions to explore domestic and international options to lower prices, according to administration officials.

Why it matters: The price of crude oil crossed $90 per barrel on Thursday, its highest level since November 2022. President Biden's political advisers know that there's a direct correlation between high energy prices and low presidential approval ratings.

The official death toll from this week's devastating flooding in northeastern Libya surpassed 5,500 people on Thursday, but it is expected to significantly rise, with the mayor of the most affected city, Derna, saying as many as 20,000 people are feared dead.

Driving the news: Mediterranean Storm Daniel brought strong winds and heavy rains to east Libya Sunday into Monday, causing floodwaters to burst through dams, destroy homes and buildings, and wash away entire neighborhoods.

Satellite images taken before and after floodwaters in northeastern Libya burst through dams and wiped out buildings and entire neighborhoods show the sheer scale of the deadly destruction caused by Mediterranean Storm Daniel.

The big picture: East Libyan officials say at least 5,500 people were killed in the floods, though the mayor of the most affected city, Derna, warned Thursday that the death toll could reach as many as 20,000.

Prominent analysts just dropped a report that puts finer points on a reality many already suspect: the world is far from reaching Paris Agreement goals.

Driving the news: Some highlights from Wood Mackenzie's latest long-term outlook include estimates of the world's climate and how much it might cost to fix things.