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Hello!
There’s been plenty of “green” love lost this Valentine’s Day as farmers protest against climate rules across European Union nations, while regulators in both Europe and the United States aim to relax environmental regulations in the agricultural sector, despite it being the most adversely affected by climate change.
Farmers protesting across Europe have taken aim at EU environmental rules over the past few weeks, which they say are adding to a pile of burdens on the sector, from low consumer prices to cheap food imports.
At the same time, agriculture is one of the sectors worst-affected by climate change.
Europe’s farmers are already suffering under increasing heat, drought and flooding – the same impacts some green policies are attempting to prevent.
Also on my radar today:
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A cow figure hangs from a vehicle, as French farmers stage a protest near the European Parliament in Brussels, Belgium. REUTERS/Yves Herman
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Worsening extreme weather has added to farmers’ woes in recent years.
EU olive oil production plunged to a record low in the 12 months ending June 2023 as drought hit Europe’s major producers. Spain’s core crops, among them wheat, barley and rice, are having their lowest production levels in over a decade.
The European Union expects its overall cereal production to be 4.3% below the 5-year average in the current season, mostly because of bad weather.
Last year, heavy rains delayed the harvest and left wheat crops soaked in areas of France, Germany and Poland. Extreme weather cut apple and pear yields in Italy and Greece, and unusually wet conditions fuelled fungal diseases that damage fruit quality.
Already this year, climate change is affecting the sector . Last month – the world’s hottest January on record – farmers in Italy warned unusually warm winter weather and drought were destroying crops.
The planet has already warmed by 1.2 degrees Celsius from pre-industrial times. Lack of water is already plaguing farmers in the drought-prone Mediterranean.
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What about the protests and the rules?
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In response to the protests, the EU scrapped, at the last minute, a goal to drop farming emissions from its 2040 climate roadmap last week. For now, Brussels is on the defensive. EU countries’ agriculture ministers meet later this month to discuss more ways to cut red tape for the sector.
Green campaigners criticized the moves, warning that weakening green policies now will hurt farmers in the long run if ecosystems deteriorate further and climate change worsens.
But some farmers say policies are imposed top-down with little understanding of the impact on the ground. Paella rice farmers in Spain say their yields have been slashed by a fungus, after the EU banned the pesticide used to prevent it.
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Manure emissions in U.S. farms
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Over in the U.S., congress members from both political parties have been urging the Environmental Protection Agency not to propose a rule that would require farms to report on air emissions from animal waste, according to a letter seen by Reuters.
The EPA is soliciting public comment on whether it should revoke or amend a rule from former President Donald Trump’s administration that exempts animal manure from an environmental statute requiring industry to report chemical releases for the purpose of community information.
Environmental groups want EPA to revoke the rule, saying pollution from animal waste is making people sick in rural communities.
Animal manure can generate hazardous chemicals, such as ammonia and hydrogen sulfide, which can cause irritation and burning to the eyes and respiratory tract.
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A vendor reacts as she poses for a photo at Adderley Street Flower Market on Valentine’s Day, in Cape Town, South Africa. REUTERS/Esa Alexander
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- Valentine’s Day special: The white-hot spotlight on relationships on Valentine’s Day can lead to a lot of spending, as well as some uncomfortable moments. More often than not, we end up partnered with someone who has a contrasting approach to money. That is according to Scott Rick, an associate professor at the University of Michigan’s Ross School of Business. Click here for some handy financial and relationship tips.
- JPMorgan Asset Management said it had decided not to renew its membership of the Climate Action 100+ investor group after “significant investment” in its investment stewardship capabilities over the last couple of years.
- Carbon capture is not a solution for the energy transition and political leaders need to provide real, non-greenwashed, commitments to encourage investment, Andrew Forrest, executive chairman of Fortescue Metals, said.
- Workplace harassment: Britain’s markets watchdog has ordered more than 1,000 banks, insurers and brokerages to report how many sexual harassment, discrimination and other non-financial misconduct cases they have recorded since 2021 and how they have dealt with them.
- First responders and volunteers from Trinidad and Tobago sought to contain an oil spill detected last week in the Caribbean country’s waters and clean areas of Tobago island’s coast already affected by the incident.
- The Exchange podcast: Economic distress prompted by globalization undermines support for the energy transition, climate change economist Valentina Bosetti tells The Exchange podcast. That matters as key U.S. and EU elections approach. Using proceeds from carbon taxes to address inequality is paramount. Click here to listen to the full podcast.
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Morning Bid: A notable sector where inflation will not be slowing is chocolate, and just in time for Valentine’s Day. The price of cocoa jumped 16% last week to hit record highs for nine sessions running.
Prices are up 40% since the start of the year, due to poor harvests in Cote d’Ivoire and Ghana that have been exacerbated by the El Nino weather pattern. The worry is that global warming could make this a semi-permanent state of affairs. Click here to sign up to the Morning Bid newsletter.
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Kendra Casas feeds Sampaguita, a cat rescued by the PAWS, during their “FURst date” on Valentine’s Day at Quezon City, Metro Manila, Philippines, REUTERS/Eloisa Lopez
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Happy belated Valentine’s Day Switchies! This story from the Philippines has stolen my heart and today’s spotlight this week as the nation’s animal welfare service implements an amazing date idea – taking your pet out on a fun meal.
Filipino pet lovers took some furry friends on a date this Valentine’s Day, showering them with cuddles and treats inside an animal shelter in the Philippine capital.
The Manila-based Philippine Animal Welfare (PAWS) organized a “fur date” where visitors could spend time with the group’s rescued dogs and cats, most of which were abused or neglected by their former owners.
Pet lovers mingled with the rescued pets to encourage adoption instead of buying fur babies.
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- Feb. 16, Kigali, Rwanda: More than 200 artists from around the world will put on 60 shows during the first ever Kigali Triennial festival in Rwanda. Organisers hope that the festival, which will take place just weeks before the 30th commemoration of the genocide, will inspire a new generation of young people born after 1994.
- Feb. 16, Brussels, Belgium: EU ambassadors vote on a provisional deal reached on Feb 8 giving gig workers more labor and social rights.
- Feb. 16, Amman, Jordan: Jordanians protest in the capital Amman in support of Palestinian in Gaza as they call for a ceasefire.
- Feb. 16, Paris, France: French power giant EDF publishes 2023 annual results.
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