It’s worse than you thought

FOLLOW US SUBSCRIBE   The relentless churn of capitalism is often cited as one of the primary drivers of global warming. Well, as with most everything else, the engine of companies and nations will suffer damage from climate change sooner and with a bigger impact than previously thought. —Josh Petri   "These are the effects of climate change." —Venice Mayor Luigi Brugnaro. The famous Italian city has declared a state of emergency after near-record floods.     Top stories Global oil demand will plateau around 2030 as the use of more efficient cars and electric vehicles ends an expansion that dominated the past century, the International Energy Agency predicts. Global pollution is on the rise. Emissions rose for a second year and are on track for further increases through 2040, unless governments take radical action. Many look at the world's melting ice and see glacier basins as half-empty. Swiss researchers see them as half-full of opportunities for hydropower and freshwater storage.  Who wins New York's landmark climate change lawsuit against Exxon Mobil is now up to a judge, but a dozen more climate cases are pending, in a growing field of litigation that could dwarf what happened to Big Tobbaco. Tens of trillions of dollars may be at stake for Big Oil. Hundreds of fires are raging in Australia, having already claimed four lives and 2.5 million acres of farmland. The blazes sparked debate on whether pro-coal Prime Minister Scott Morrison is doing enough to curb emissions. His government has ignored calls to discuss the impact of global warming in drought-affected rural areas of what is already the world's driest inhabited continent.   What we've been reading The people of New Delhi have been told to shut their windows and stay inside. The caustic air can cause eyes to burn. But while the city's pollution crisis is dire, it isn't unique. James Hamblin explains in The Atlantic how we are all running out of air.  Cody Townsend is a professional skier who set out to hit the most famous back-country routes in the U.S. When he started, he didn't realize that, because of accelerating warming due to climate change, he might be the last human to do so. Forget O.J. at breakfast, America. A bacterium that prevents citrus from ripening has infected 90% of Florida's groves, almost completely wiping out the Sunshine State's second-largest industry. It's also spreading north, aided by climate change. Sponsored content by BMO Ideas that make a difference. In this thought-provoking podcast series, BMO experts engage sustainability leaders from around the globe on a wide array of topics. Hear diverse ideas and perspectives on everything from climate change and trends in ESG investing, to understanding green bonds, the green taxonomy and a new approach to sustainability metrics. Guests include experts from the World Bank and the EU, renowned scientists, popular TED speakers and more. Sustainability Leaders.  Listen ­­now. BMO — partner of Bloomberg Sustainable Finance Week.     You received this message because you are subscribed to the Bloomberg Climate Changed newsletter.     Unsubscribe | Bloomberg.com | Contact Us Bloomberg L.P. 731 Lexington, New York, NY, 10022