Cobus Potgieter from Southern Cross Capital joins Business Day TV for a broader look at Wednesday afternoon’s market performance.
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Trillions Needed For Climate Action in Developing World - ReportEmerging market and developing countries should work with investors, developed countries and multilateral institutions to unlock U.S.$1 trillion annually in external finance for three areas of climate action, a new report says. The three climate action areas are cutting emissions; boosting resilience and dealing with the loss and damage caused by climate change impacts; and restoring nature and land. The total annual investment needs for emerging market and developing countries other than China are estimated to be U.S.$1 trillion in 2025 and U.S.$2.4 trillion by 2030. The report 'Finance for climate action: scaling up investment for climate and development' is by the Independent High-Level Expert Group on Climate Finance and was prepared at the request of the Egyptian Presidency of COP27 and the UK Presidency of COP26. The report was published on November 8, 2022 ahead of finance day on November 9 at the United Nations climate change summit in Sharm el-Sheikh, Egypt.
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Business Maverick: Australia launches review into former pilots training Chinese militaryAustralia will launch a review into the obligations former Defence Force personnel have to protect state secrets, following reports Australians were among Western military pilots who had been approached to help train the Chinese military.
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Business Maverick: Cryptocurrencies plunge as doubts about FTX-Binance deal growCryptocurrencies tumbled anew as news around Binance’s potential takeover of rival exchange FTX started to sink in and renewed trader concerns that there is trouble brewing within the industry and among some of its top players.
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