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Germany aims to reach net zero emissions by 2045, outgoing Chancellor Angela Merkel said on Monday.

Speaking at the COP26 UN Climate Change Conference in Glasgow, Scotland, Merkel underlined that Germany, like other developed nations, bears a special responsibility for climate protection.

“This is why we have set tougher emissions reduction targets. We want to cut emissions to 65% below the 1990 levels by 2030. And we want to be climate neutral by 2045,” she said.

Merkel welcomed the agreement reached during the Rome G20 summit on Sunday which reaffirmed the goal of reaching net zero “by or around mid-century.” But she also called on world leaders to make binding commitments during the COP26 conference in Glasgow for climate protection.

“We all know that the impact of climate change is devastating. We must and we can implement the Paris climate agreement, and we should make sure that this will happen by mid-century, as agreed during the G20, not over the course of the century,” she said.

Merkel also underlined that her country will boost its contributions to international climate financing to €6 billion by 2025.

The COP26 meeting will continue through Nov. 12 with numerous panels, meetings, and side events, all seeking remedies to reduce the levels of global warming by keeping it to 1.5C.

More than 25,000 delegates from nearly 200 countries are at the Glasgow conference, where the first two days will see sessions attended by world leaders./agencies

More than 900,000 people signed a viral open letter from climate activists Greta Thunberg, Vanessa Nakate, Dominika Lasota, and Mitzi Tan demanding leaders "face up to climate emergency" at the launch of the leaders' summit of the 26th session of the Conference of the Parties (COP26) to the United Nations Framework Convention on Climate Change.

COP26 is running from Oct. 31 to Nov. 12 in Glasgow, Scotland, where around 120 leaders and around 25,000 delegates are expected to attend.

"Right now world leaders are meeting for historic climate talks but pledges without real action will not cut it anymore. We are catastrophically far from the crucial goal of 1.5°C and yet governments everywhere are still accelerating the crisis, spending billions on fossil fuels," Thunberg said in the letter.

"We urge you to face up to the climate emergency and keep the precious goal of 1.5°C alive with immediate, drastic, annual emission reductions, unlike anything the world has ever seen. There is still time to avoid the worst consequences if we are prepared to change," she said.

The open letter, launched with the global citizens' movement, Avaaz, called on world leaders to lay out a five-point plan to deliver a climate-safe future.

The five points include keeping the goal of limiting global warming 1.5°C warming alive with immediate and drastic annual emission reductions as well as ending all fossil fuel investments, subsidies and new projects.

The activist demanded that world leaders end "creative" carbon accounting by publishing total emissions for all consumption indices and delivering the $100 billion promised to the most vulnerable countries with additional funds for climate disasters.

Lag in reaching goals

In 2009, developed countries committed to a goal of jointly mobilizing $100 billion a year by 2020 to address the needs of developing countries in the context of meaningful mitigation actions and transparency on implementation.

However, developed countries have been lagging behind in delivering this goal.

Last week ahead of COP26, the UK COP26 Presidency published a Climate Finance Delivery Plan to provide clarity on when and how developed countries will meet the $100 billion climate finance goal.

The plan showed that developed countries missed reaching the $100 billion goal but will be able to do so only by 2023.

The letter also said that young people feel betrayed by the failure of governments to cut carbon emissions.

"This is not a drill. It is code red for the Earth. Millions will suffer as our planet is devastated, a terrifying future that will be created or avoided by the decisions you make. You have the power to decide," it said in the letter.

Nakate raised the question of why is it so easy for leaders to open new coal power plants, build pipelines and frack gas while destroying the planet and harming the present and future of children worldwide.

"Why is it so hard for them to acknowledge that people have lost lives and livelihoods? It is time to take care of the most vulnerable!" she urged./aa

Natural gas exports of Russian energy giant Gazprom increased year-over-year by 10.4% to 158.8 billion cubic meters (bcm) between January and October, according to the company's latest data released Monday.

Gazprom's production also rose by 15.8% to 422.6 bcm during the same period, the data showed.

Gas exports to Former Soviet Union (FSU) countries increased by 10.4% to 158.8 billion cubic meters.

The company's natural gas exports to Turkey soared by 110.4% in the first ten months of the year, while exports to Germany increased by 23.4%, by 272.2% to Romania and by 101.7% to Serbia.

According to Gas Infrastructure Europe, there are 18.2 billion cubic meters of fewer reserves in European underground gas storage (USG) facilities as of Oct. 30 relative to last year, while inventories in Ukraine’s UGS facilities are 10.1 billion cubic meters less than in 2020.

Oil and gas exports make up about 40% of the federal budget in Russia.

Gazprom's natural gas export revenue declined to $25.2 billion in 2020, down 39.6% compared to the previous year./aa

   

 

Highlighting the importance of shifting to clean energy from fossil fuels, US Secretary of State Antony Blinken said Monday that green economy is the future.

"Climate change doesn't only threaten our economy, our infrastructure or our national security, it's a threat to all of them, and more," Blinken told at the U.S. Center opening event, in Glasgow, UK.

He underlined that the world should strengthen ambition as well as action in this decisive decade to limit global warming to 1.5 degrees Celsius and also to prevent a "climate catastrophe."

Mentioning the US' returning to Paris climate accord with President Joe Biden, Blinken reminded Washington's new commitment -- a 50% to 52% reduction in emissions by 2030 that puts the US on course to reach net zero emissions by 2050.

"This is a decisive decade. We've got to make it count," he noted, adding that "we shouldn't leave Glasgow without acknowledging that fact."

He also stressed that climate change requires developing and implementing creative initiatives on the ground by state and local governments as well as investments by companies that will get the world to net zero emissions.

"That's the smart thing for business to do and the right thing, the green economy is the future. And companies that make the right investments now will reap the rewards for years to come," underlined Blinken.

'We know what we must accomplish'

For his part, John Kerry, the US special presidential envoy for climate, reminded that there are a group of nations -- equal 65% of the global GDP -- that have committed to achieve the target of 1.5 degrees Celsius.

"Obviously, if 65% committed (to this goal), our job is try to bring other 35% along," he noted.

Kerry went on to say that raising the ambition and closing the gap are among the top goals of the US during the COP26, adding that they want to complete the rulebook of Paris Agreement.

"We have to lay out the long term road. We have to give people confidence that we are going to use this decade which is the decade of decision and action in order to make everything else possible," said Kerry.

Citing scientists and reports, he pointed out that if the world does not reduce carbon emissions enough between 2020 and 2030, it cannot limit the global warming to 1.5 degrees.

"That’s just the reality. ... We know what we are trying to accomplish in this next two weeks and we know what we must accomplish in this next two weeks," underlined Kerry.

"We have already made progress," he highlighted, referring to the Group of 20's leaders' summit which ended Sunday with a deal on ending coal financing by the end of the year and to aim to limit global warming to 1.5 degrees Celsius.

The COP26 meeting will continue through Nov. 12 with numerous panels, meetings, and side events, all seeking remedies to reduce the levels of global warming by keeping it to 1.5 C./aa

Mass shootings broke out across the United States during the Halloween weekend, leaving at least 12 people dead and 52 injured.

The Gun Violence Archive, which tracks US mass shootings of four or more victims, reports a variety of circumstances; in the Chicago suburb of Joliet Township, Illinois, someone opened fire from an backyard porch of an outdoor Halloween party, near where a DJ stand had been set up, and killed two party-goers, a man and a woman, both aged 22. Twelve others were hurt in the scramble to safety. Police think gang activity led to the shooting, but no arrests have yet been made.

In Decatur, Illinois, a shooting at a large gathering of people left one person in critical condition and three others with injuries that were not considered life-threatening.

In Texas, a shooting at a Halloween party, at an event center near the Texas border with Arkansas, left one person dead and nine others injured.

In Colorado, two people were killed and two others were hurt in what police say appears to be an attempted murder-suicide.

And in California, separate shootings left three dead and 8 injured.

The Archive reports 599 mass shootings so far during 2021, which far surpasses the 417 mass shootings in 2019 and puts 2021 on track to surpass the 611 mass shootings in 2020.

Researchers have long blamed the rise in shootings on the social and economic pressures brought by the coronavirus pandemic.

On Friday, the Mayor of St. Louis, the largest city in Missouri, was talking to reporters about gun violence prevention when loud gunshots could be heard behind her.

Without flinching, Tishaura Jones remarked: "Oh, isn't that wonderful."

When asked if she felt safe standing there, she replied, "My son and I fall asleep to the lullaby of gunshots in the distance every night. It's a part of my life now and that shouldn't be."

As France continues to emerge from a pandemic that held the country in its grip over the past year and a half, notable changes, both financial and societal, are helping bring the country back to a state of normalcy, with Nov. 1 as their starting point.

From Monday, all restaurants, bars, and cafes that had resurrected outdoor terraces to provide additional seating during the pandemic will now have to dismantle them. Droves of establishments utilized every inch of outside space where there had been none -- including parking spaces and the street -- just after the lockdown was lifted last May.

The warmer months coincided well with the government’s permission to utilize outdoor space to keep customers coming. Officials had imposed strict conditions over how many people could be allowed into establishments -- none at first, then only 6 people per table as time went on. Intimate spaces were deemed one of the biggest loci in the spreading of the disease.

Despite three waves that have swept the country and two lockdowns -- the second lasting seven months -- France’s numbers are way down from the skyrocketing figures that had once dominated headlines.

According to the Health Ministry, 6,329 COVID-19 cases and 12 deaths have been registered over the last 24 hours. A year ago at this time, case numbers were in the mid-five figures and deaths near triple-digit.

To date, 117,683 people have perished from COVID-19 in France, with total cases exceeding 7.1 million. More than 51 million people have received at least one jab of a vaccine, out of a total population of just over 67 million.

France has also put in place a ban on housing evictions until March 31, 2022, otherwise known as “the winter break,” offering up a welcomed reprieve for those in need. A 30% reduction in the housing tax has also been applied for the 20% of the population who are liable to it.

One of the biggest hot-button issues, and one that saw weeks of protests in 2018 and 2019, is also back in the headlines. According to the daily Le Monde, the government has put a freeze on gas prices which will not be raised again until the end of 2022 (they had risen by 12.6% in October alone). Prime Minister Jean Castex announced “a tariff shield” at the end of September that will serve to block the regulated gas tariff. Energy prices are soaring throughout Europe, up 300% in some areas over the past month.

It is the first time since April and only the second time in 17 months that gas prices will not go up.

Another major issue for French society, and one that too caused lengthy strikes, is pensions. A revaluation of 1% will occur in the annual amount of supplementary pensions private employees receive through AGIRC-ARRCO, according to Le Monde.

AGIRC-ARRCO is the body that represents all non-union wage earners, including executives, and manages the supplementary pension schemes for those in the private sector -- industry, trade, services, and agriculture. The change will affect 13 million private-sector employees./aa

Amid growing criticism of world leaders for failing to do enough to fight climate change, there has been "enough of treating nature like a toilet," UN Secretary-General Antonio Guterres told a key climate change meeting Monday.

"Our addiction to fossil fuels is pushing humanity to the brink. Enough of brutalizing biodiversity," Guterres said at the opening at the COP26 UN Climate Change Conference.

He said recent announcements of steps to fight climate action might give the impression that "we are on track to turn things around."

This is an illusion, he stressed, citing a recent report which showed that the world is still on track to face a calamitous 2.7C temperature rise.

Even in the best-case scenario, temperatures will rise well above 2C, he said, warning: "So, as we open this much-anticipated climate conference, we are still heading for climate disaster."

'Developed, emerging economies must build coalitions'

He also urged both developed countries and emerging economies to build coalitions to create the financial and technological conditions to accelerate the decarbonization of the economy.

"These coalitions are meant to support the large emitters that face more difficulties in the transition from grey to green for them to be able to do it," he underlined.

If commitments fall short by the end of this meeting, he warned, countries must revisit their national climate plans and policies.

Confusion over emissions cuts

Arguing that there is a deficit of credibility and a surplus of confusion over emissions reductions, he said:

"That is why – beyond the mechanisms already established in the (2015) Paris Agreement – I am announcing today that I will establish a group of experts to propose clear standards to measure and analyze net zero commitments from non-state actors."

He also called on all donors to allocate half their climate finance to adaptation, adding that public and multilateral development banks should start as soon as possible.

"This COP (meeting) must be a moment of solidarity," he said, adding the $100 billion a year in climate finance commitment to support developing countries must become a reality./aa

Major indices in the US stock market opened higher Monday to kick off the month of November with record highs.

The blue-chip Dow Jones climbed to a record high of 36,000 points at 9.33 a.m. EDT with JPMorgan and Morgan Stanley adding over 1.4% apiece.

The S&P 500 rose 0.3% to an all-time high of 4,620.34 points. Tesla stock price jumped 1.9%.

The Nasdaq also hit a record high of 15,541.53 points.

The yield on 10-year US Treasury notes was up 2.9% to 1.601%, while the US dollar index decreased 0.07% to 94.06.

The VIX volatility index, known as the fear index, rose 4.2% to 16.95.

Price of international benchmark Brent crude was trading at $84.98 with a 1.5% gain, the US benchmark West Texas Intermediate was up 1.5% to $84.81.

Precious metals were on the rise with gold adding 0.3% to $1,788 per ounce and silver increasing 0.4% to $23.98.

Bitcoin was trading around $62,000 with a 2.5% gain./aa

Refreshing its monthly figure record, Turkey's exports hit $20.8 billion in October, the trade minister said on Monday.

Turkish exports rose 20.2% year-on-year in October, Mehmet Mus said during a news conference in Ankara, where he revealed the country's preliminary foreign trade data for the month.

"The 12-month rolling exports figure of $215.7 billion is also a new all-time high in October," Mus said.

The country's imports also climbed 13% to $22.3 billion during the same period, he stressed, adding that the exports-to-imports coverage ratio reached 93.4% in October, up 5.6 percentage points from the same month last year.

Pointing to the upward trend in the exports-to-imports coverage ratio during the course of the year, the minister said: "Very soon, we will have achieved the target of Turkey, which posts a surplus in foreign trade.

In January-October, the country's exports went up by 33.9% on an annual basis to $181.8 billion, Mus pointed out.

Turkish imports amounted to $215.6 billion in the first ten months of this year, a rise of 22.5% from last year.

"Our foreign trade deficit decreased 16% year-on-year to $33.8 billion from January to October," he said.

On his part, Ismail Gulle, the head of the Turkish Exporters' Assembly, stressed that the automotive sector was the biggest exporter in October with $2.6 billion in exports.

It was followed by chemical and steel sectors with $2.3 billion, Gulle noted.

Germany ($1.7 billion), the US ($1.3 billion), and the UK ($1.2 billion) were the largest export markets for Turkey in October./aa

Some called it the end of history when the Soviet Union lost the Cold War and collapsed with the attempted coup on the reformist leader Mikhail Gorbachev in Moscow in August 1991. Indeed, they went on to say that the term geopolitics has lost its significance. Actually, this view was suggested when the US and its allies launched the expedition to liberate Kuwait -- or rather, the oil in the Gulf -- from the Iraqi occupation.

According to the supporters of this view, geopolitics became history with the Cold War, and the focus of the winners of the Cold War should become geoeconomics. The trio of international economy, geopolitics and strategy should have been evaluated to serve the geoeconomical approach.

The effort of the People’s Republic of China, which claimed it is not after global hegemony, to expand its circle of influence through economic means in the beginning of the 21st century reinforced the expectation that it would solely focus on geoeconomics right until the global economic crisis in 2008.

Global economic crisis called on geopolitics to duty

While the People’s Republic of China survived the global economic crisis gaining further strength, it directed surplus value it achieved to the defense industry, and this created a sense of deception in Washington.

Until then, the US administrations retained the hope that the economic support to be put behind Beijing would make the country evolve into a liberal system.

Nevertheless, realizing that Beijing used the economic power it achieved as a means to expand its circle of influence in the Belt and Road Initiative and the western countries, as well as the Chinese army’s increased activities of aircraft carriers construction led to change of route by the White House in its relations with China.

As the US President Barrack Obama’s and the Secretary of State Hillary Clinton’s discourses on China hardened as of 2011, China rose to the top in the list of threats of US’ national security reports, leaving Russia behind.

Convinced that China should be dealt with through military capabilities rather than on the ground of geoeconomics, the US carried this approach to the NATO allies as well. China is expected to be inevitably declared as a rival for alliance with Russia in the new strategic concept of the NATO, which will be updated in the 2022 summit.

The US turned the problems the world was grappling with during this period, such as energy and supply, into an opportunity for itself, and began using geoeconomics as a means to achieve its long term geopolitical goals.

US’ art of turning energy cooperation platforms into defense alliances

The new US strategy, which turned out to have imitated projects including China’s Belt and Road Initiative and Russia’s Nord Stream 2, has been designed as a means to use the weapon of geoeconomics that will enable the country to form global allies similar to NATO across the world.

The AUKUS alliance that Washington declared with the UK and Australia on Sept. 14 is one of the most recent examples of this strategy.

The international community still perceive this development only as an economic issue aiming at taking out France to sell Australia eight nuclear submarines. However, the fact that it was one of the most critical geopolitical moves to lay siege to China can be fully discerned only in 2030.

The formation of another alliance that appeared to be essentially economy-based started in the eastern Mediterranean in 2013.

Then, the project launched for gas fields in the Eastern Mediterranean to cater to the energy needs of Europe turned into a geopolitical problem within the framework of the military coup in Egypt, Syrian civil war, problems in Turkey-Israel relations, and issue over sharing the natural resources of the island of Cyprus.

The countries which would benefit from the project the most, namely Israel, Egypt, Greek administration of Southern Cyprus and Greece united against Turkey simultaneously.

While these countries increased cooperation in the field of not only energy but in defense as well, France, which took on a tug of war with Turkey, joined the structure organized as the East Mediterranean Gas Forum.

Weaponizing Greece, the US participated in the forum as an observer, and the United Arab Emirates was another country that applied to be an observer. Consequently, the structure that started with a geoeconomics goal turned into an organization aiming at restricting Turkey’s domain over the eastern Mediterranean in only seven years.

Wall of three seas: From Baltic to Black Sea and Adriatic Sea.

Another geopolitical weapon that the US is about to build against Russia using geoeconomic means on the common ground of energy needs stretches from Baltic Sea to Black Sea and Adriatic Sea.

Similarly, the foundations of the Three Seas Initiative that is formed to provide energy security of 12 European countries were laid in 2016. It became clear that the Three Seas Initiative had goals beyond energy cooperation during the summit that then US President Donald Trump attended in the Polish capital Warsaw in 2017. The initiative consisting of Austria, Bulgaria, Czechia, Crotia, Estonia, Hungary, Lithuania, Latvia, Poland, Romania, Slovakia and Slovenia rises like a wall before Russia. The US’ power shift to Poland under the pretext of strengthening NATO’s right wing, as well as building a military headquarter that would cost $30 million in Poznan province also indicates the importance that the countries that stretch along the line will gain against Russia not only in terms of energy cooperation only but also military.

Thus, US Secretary of Defense Lloyd Austin’s visit to three countries around the Black Sea before the Meeting of NATO Ministers of Defence on Oct. 21 gave fresh insights into the defense structure that this energy-based cooperation would turn into. Visiting Georgia, Ukraine and Romania, the US Secretary of Defense argued that Russia’s activities on the Black Sea pose a threat for the economies of the regional countries while emphasizing that Black Sea is important for both NATO’s right wing and the US’ national security.

Simultaneously, the Chief of Staff of the UK, which turned out to have become the greatest ally of the US on the global scale through marine activities in the Indian-Pacific region after leaving the European Union, pointed at the geopolitical identity that the Black Sea will gain in the near future.

Stating that it was necessary to form temporary coalitions in which NATO would play a central role and that caution was needed on Black Sea as it was possible that alliances similar to AUKUS would emerge with the participation of Black Sea countries, Nicholas Carter was conveying the message that one more structure seemingly geoeconomical would be turned into a geopolitical weapon for military and political goals.

​​As geoeconomical crises turn into geopolitical opportunities

Crises over energy and supply chains that were understood to continue affecting the international community in the 2022-2023 term may change the nature of geopolitical balances. While the waves of economic crises in the world repeated with 30-year intervals, today these intervals have been down to 10 years. The US is using its rhetoric of freedom of navigation to form alliances against hostile countries on the certain sea trade routes, chiefly Black Sea, for the safety of free trade it commenced in the Indian-Pacific region.

Just as the economic volume created by the First Industrial Revolution became decisive in the struggle of international politics and sharing with the emergence of steam power, globalizing economy and its needs turned into means used by the superpowers to attain their geopolitical goals. The countries that held a place on the international map of trade for thousands of years thanks to the Silk Road, like Turkey, will have the opportunity to turn the power of geoeconomics into advantages as part of the new strategic concept to be presented by the NATO in 2022. /aa

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By: Mehmet A. Kanci

 Journalist Mehmet A. Kanci has analyzed geo-economy, a concept used frequently by political scientists.

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​​​​​​​*Opinions expressed in this article are the author’s own and do not necessarily reflect the editorial policy of Al-Mujtama.​​​​​​​