Zero: The Climate Race

Developing countries require trillions of dollars a year to transition to clean energy and build climate-resilient infrastructure. So where will the money come from? Avinash Persaud, special advisor on climate risks to the president of the Inter-American Development Bank, joins Zero to make the case for giving more money to Multilateral Development Banks (MDBs), which already funnel hundreds of billions of dollars a year to poorer countries around the globe, much of which goes to climate projects. His pitch is now harder than ever to make as the US slashes international climate finance and European countries reduce their overseas aid budgets to support defense spending. Past episodes of Moving Money: How the financial system can work for climate, not against itThe fight over finance brewing at COP29 Explore further: COP29: Exxon CEO Darren Woods Interview Transcript From UN Climate SummitUnlocking Climate Trillions With a Global Plan From a Sinking Island - BloombergDebt-for-Nature Swaps Gain Traction Among Developing Countries - Bloomberg Zero is a production of Bloomberg Green. Our producer is Oscar Boyd. Special thanks to: Mythili Rao, Sommer Saadi, Mohsis Andam, Blake Maples and Siobhan Wagner. Thoughts or suggestions? Email us at zeropod@bloomberg.net. For more coverage of climate change and solutions, visit https://www.bloomberg.com/green. See omnystudio.com/listener for privacy information.

Even with all the turmoil of the past few months, the energy transition isn’t taking a break. Last year, global spending on clean-energy technologies was more than $2 trillion, according to BloombergNEF. Yet only a small fraction of that money makes its way to developing countries. This week on Zero, Avinash Persaud, climate advisor to the president of Inter-American Development Bank, joins our Moving Money series, and answers the question: how do we make the financial system work for climate action, not against it? Explore further: COP29 Is All About Money. Get Ready for Fights: Moving MoneyUnlocking Climate Trillions With a Global Plan From a Sinking Island Zero is a production of Bloomberg Green. Our producer is Oscar Boyd. Special thanks to: Mythili Rao, Sommer Saadi, Mohsis Andam, Blake Maples and Siobhan Wagner. Thoughts or suggestions? Email us at zeropod@bloomberg.net. For more coverage of climate change and solutions, visit https://www.bloomberg.com/green. See omnystudio.com/listener for privacy information.

There is a lot happening in the world of EVs. In the US, Teslas are being hawked from the White House lawn, while in China, BYD has announced a battery that can be charged to go 400km in just 5 minutes. All the while a rearrangement of global trade and tariffs is sending shockwaves through the system. This week on Zero, Bloomberg’s global automotive editor Craig Trudell unpacks the latest twists and turns in the EV revolution. Explore further: BYD Is Winning the Global Race to Make Cheaper EVsChinese EVs Make Inroads in Nigeria as Gasoline Prices RiseHyperdrive Zero is a production of Bloomberg Green. Our producer is Oscar Boyd. Special thanks to: Mythili Rao, Sommer Saadi, Mohsis Andam, Blake Maples and Siobhan Wagner. Thoughts or suggestions? Email us at zeropod@bloomberg.net. For more coverage of climate change and solutions, visit https://www.bloomberg.com/green. See omnystudio.com/listener for privacy information.

Depending on who you ask, AI is either going to save the world or end it. The technology’s capacity for data-crunching and problem-saving can help predict weather events, making it easier to optimize power grids, prepare for natural disasters, and maximize crop output. But artificial intelligence is also energy intensive – and easy to apply to ethically questionable ends. For all of these reasons, Priya Donti, professor of electrical engineering and AI at MIT, decided to found Climate Change AI, a group dedicated to applying AI to tackle climate problems. In this episode, which first ran in May of 2024, Donti tells Akshat Rathi about some of the projects the group is funding around the world, and what the democratization of AI would look like in practice. Explore further: about Microsoft’s rising AI emissions, and President Brad Smith’s claim that the AI will do more good than harmclimate innovation projects across the African continentclimate scientist and champion for developing countries Saleemul Huq Zero is a production of Bloomberg Green. This episode was produced by Mythili Rao. Special thanks this week to Kira Bindrim, Anna Mazarakis and Alicia Clanton. Thoughts or suggestions? Email us at zeropod@bloomberg.net. For more coverage of climate change and solutions, visit https://www.bloomberg.com/green. See omnystudio.com/listener for privacy information.

Water scarcity is no longer a distant threat: By 2030, fresh water demand is expected to outpace supply by 40%. The effects of water stress will be felt in industries from agriculture to e-commerce, putting up to $70 trillion of global GDP at risk, according to the World Resources Institute. Bloomberg Intelligence researcher Melanie Rua is the co-author of a new report on water scarcity. She joins Zero to discuss just how much financial impact companies are already seeing as a result of this issue– and what measures they might take to mitigate it. Explore further: Environmental, Social, and Governance policy uncertaintywith Breakthrough Energy Ventures’ Eric Toone about green investment opportunitiesGaly, a lab-grown cotton startup addressing water consumption Zero is a production of Bloomberg Green. This episode was produced by Mythili Rao. Special thanks this week to Siobhan Wagner, Sommer Saadi and Magnus Henriksson. Thoughts or suggestions? Email us at zeropod@bloomberg.net. For more coverage of climate change and solutions, visit https://www.bloomberg.com/green. See omnystudio.com/listener for privacy information.

In the time since she became Prime Minister of Barbados in 2018, Mia Mottley has become known as a moral force for action on climate change. The Bridgetown Initiative, which she launched at COP26 in 2021, transformed the conversation around climate finance – pushing rich nations to do more to support developing countries struggling with the impact of climate change. But as the US retreats from climate action, her bold vision faces new challenges. At the Sustainable Energy for All Global Forum in Barbados, she tells Akshat Rathi why she remains optimistic, and she spoke about the role of pragmatism in tackling the climate challenge. Explore further: Achim Steiner, head of the United Nations Development Programwith Avinash Persaud about the Bridgetown Initiativethe Royal Shakespeare Company’s play about the 1997 Kyoto Summit Zero is a production of Bloomberg Green. Our producer is Mythili Rao. Special thanks this week to Siobhan Wagner, Kanika Chawla and Jessica Beck. Thoughts or suggestions? Email us at zeropod@bloomberg.net. For more coverage of climate change and solutions, visit https://www.bloomberg.com/green. See omnystudio.com/listener for privacy information.

Since taking office in January, President Trump has set in motion a series of sweeping rollbacks on US climate policy. This comes at a time when governments around the world have lagged behind their stated environmental goals. In this episode of the Big Take, host Sarah Holder is joined by Akshat Rathi, host of the Zero podcast, to talk through the Trump administration’s key climate actions, how they could impact investment in green energy, and what it all means for the global fight to stop the warming of the planet. See omnystudio.com/listener for privacy information.

As President Donald Trump heats up a North American trade war, Canada is already facing big challenges within its own government. Next week, the governing Liberal party will announce Prime Minister Justin Trudeau's successor. And later this year, the country will hold a general election. Rick Smith, president of the Canadian Climate Institute, joins Zero to discuss what shape the country's climate ambitions might take under new leadership, how Canada can deal with the Trump challenge, and why he expects meaningful climate policy in Canada to be driven by provinces and municipalities. Explore further: about the UK’s climate goals with Chris Stark, Head of UK's Mission for Clean Power about Canada's carbon pricingCanadian Prime Minister Justin Trudeau Zero is a production of Bloomberg Green. Our producer is Mythili Rao. Special thanks this week to Siobhan Wagner and Jessica Beck. Thoughts or suggestions? Email us at zeropod@bloomberg.net. For more coverage of climate change and solutions, visit https://www.bloomberg.com/green. See omnystudio.com/listener for privacy information.

The world of ESG regulation and investing was already suffering a period of shaky confidence even before President Donald Trump returned to the White House. Now, companies are facing a new period of uncertainty when it comes to Environmental, Social, and Governance policies. Reporter Frances Schwartzkopff tells Akshat Rathi why the EU is rolling back some ESG legislation. And reporter Saijel Kishan explains that many companies today are still keeping their ESG plans in place — but just not talking about it. Explore further: activist Lucie Pinson about changing banks’ investing strategies from the insideCalifornia Democratic Representative Ro Khanna about what to expect in Trump’s second term in the White HouseEric Toone of Breakthrough Energy Ventures on the kinds of green startups he believes can be the most profitable Zero is a production of Bloomberg Green. Our producer is Mythili Rao. Special thanks this week to Aaron Rutkoff, Siobhan Wagner and Jessica Beck. Thoughts or suggestions? Email us at zeropod@bloomberg.net. For more coverage of climate change and solutions, visit https://www.bloomberg.com/green. See omnystudio.com/listener for privacy information.

Last October, delegates from around the world met in Cali, Colombia to discuss ways to protect the planet’s biodiversity. After a promising breakthrough in Montreal, Canada three years ago, there were high hopes for that summit. But COP16 closed in shambles, with negotiators leaving before a final agreement could be achieved on key issues. Now, the summit is resuming next week in Rome. Will developed and developing countries be able to reach consensus? Reporter Natasha White, who attended part one in Cali, tells Akshat Rathi what she expects to see when COP16 reconvenes next week in Italy. Explore further: about COP30’s final dealwith sci fi writer Kim Stanley Robinson about the merits of the COP process Stripe’s Nan Ransohoff about the carbon removal credit marketreporting from Natasha White Zero is a production of Bloomberg Green. Our producer is Mythili Rao. Special thanks this week to Sharon Chen and Jessica Beck. Thoughts or suggestions? Email us at zeropod@bloomberg.net. For more coverage of climate change and solutions, visit https://www.bloomberg.com/green. See omnystudio.com/listener for privacy information.

How do we keep climate action alive in a fracturing world? “Today we live in an age where we actually have the solutions– technologically, economically, financially speaking– but what we are not doing is acting on them,” Achim Steiner, head of the United Nations Development Program tells Akshat Rathi. In a conversation recorded at COP29, Steiner talked about how some countries– including Uruguay, India, Kenya, China, and Bhutan– are moving forward with innovative climate solutions even when international financing isn’t readily available. He also called on the developed world to find better ways to fund sustainable development. Explore further: Avinash Persaud about getting money to the places that need itAchim Steiner about the role of the UN Development Programscience fiction writer Kim Stanley Robinson about the role of the United Nations Zero is a production of Bloomberg Green. Our producer is Mythili Rao. Special thanks this week to Sharon Chen and Jessica Beck. Thoughts or suggestions? Email us at zeropod@bloomberg.net. For more coverage of climate change and solutions, visit https://www.bloomberg.com/green. See omnystudio.com/listener for privacy information.

The UK government has pledged to achieve 95% clean power by 2030. It's an ambitious, tough goal – and even tougher to accomplish while reducing energy prices. Chris Stark, head of the nation’s Mission Control for Clean Power, says he’s “confident” the UK can deliver. But at the same time, the Labour government’s leaders are sending mixed signals on climate: They want to expand airports and may sign off on new oil fields in the North Sea. Stark tells Akshat Rathi why he’s still certain the country can balance its carbon budget, and why it’s important for politicians to show that green investments have economic benefits too. Explore further: with Chris Stark on his role at the Climate Change Committeeabout what happens to the energy transition as the US leaves the Paris Agreementwith Scottish Power CEO Keith Anderson about grid readiness Zero is a production of Bloomberg Green. Our producer is Mythili Rao. Special thanks this week to Will Mathis, Sharon Chen, Eamon Farhat, and Jessica Beck. Thoughts or suggestions? Email us at zeropod@bloomberg.net. For more coverage of climate change and solutions, visit https://www.bloomberg.com/green. See omnystudio.com/listener for privacy information.

With President Donald Trump back in office, the US is leaving the Paris Agreement for the second time. Unlike in 2017, this withdrawal is set to have more lasting consequences, Akshat Rathi tells producer Mythili Rao. Meanwhile, even as the US gives up its climate leadership, China’s focus on clean energy is growing. A new report from BloombergNEF finds that global investment in the energy transition surpassed $2 trillion for the first time in 2024, with China driving two thirds of that growth. BNEF Deputy CEO Albert Cheung shares the report’s highlights, and reflects on the role international competition will play in this next phase of reaching net zero. Explore further: Bloomberg NEF’s energy transition investment trends 2025 reportZahra Hirji's roundup of the first slew of President Trump's climate moveswith Yale historian Paul Sabin about what to expect in President Trump’s second term Zero is a production of Bloomberg Green. Our producer is Mythili Rao. Special thanks this week to Sharon Chen, Alfred Cang, Ewa Krukowska, John Ainger, Jen Dlouhy, Zahra Hirji, Lou Del Bello, Simone Iglesias, Amanda Hurley and Jessica Beck. Thoughts or suggestions? Email us at zeropod@bloomberg.net. For more coverage of climate change and solutions, visit https://www.bloomberg.com/green. See omnystudio.com/listener for privacy information.

Plans are already underway for COP30 to pick up the baton and tackle COP29's unfinished business. The 2025 climate conference is set to take place in Belem, Brazil, a gateway to the Amazon rainforest. And last week, André Corrêa do Lago was named COP30 president. Corrêa do Lago currently serves as Brazil’s Secretary for Climate, Energy and the Environment, and he spoke with Akshat Rathi at COP29 in Baku, in November. He says that although holding a global summit in Belem poses logistical challenges, the symbolism of the location holds “fantastic political power.” Explore further: Simone Iglesias's story on Corrêa do Lago's plans as COP30 PresidentAzerbaijan’s challenges with hosting COP29 in Bakuabout the viability of a fossil fuel nonproliferation treaty Zero is a production of Bloomberg Green. Our producer is Mythili Rao. Special thanks to Simone Iglesias, Siobhan Wagner, Ethan Steinberg, Blake Maples, and Jessica Beck. Thoughts or suggestions? Email us at zeropod@bloomberg.net. For more coverage of climate change and solutions, visit https://www.bloomberg.com/green. See omnystudio.com/listener for privacy information.

As Donald Trump returns to the White House, Akshat Rathi speaks to Yale historian Paul Sabin about whether recent presidential history might hold some lessons on what to expect from the Trump administration’s approach to energy and environmental policy this term. Looking back at the Carter and Reagan years, Sabin explores how present-day Trump priorites– from dismantling government agencies to ramping up oil and gas production–have historical precedent. And Jonathan Lash, who was an environmental lawyer in the Reagan years, explains why he’s feeling déjà vu in these early days of Trump’s second term. Explore further: sci-fi writer Kim Stanley Robinson about his visions for climate politics in 2025with President Biden’s climate czar Ali Zaidi on the IRA’s legacywith Congressman Ro Khanna on what Trump’s second term may hold Zero is a production of Bloomberg Green. Our producer is Mythili Rao. Special thanks this week to Sharon Chen, Siobhan Wagner, Jessica Beck, and David Fox. Thoughts or suggestions? Email us at zeropod@bloomberg.net. For more coverage of climate change and solutions, visit https://www.bloomberg.com/green. See omnystudio.com/listener for privacy information.

As the blazes in Los Angeles continue to burn, those who have lost their homes are contending with the immediate need for shelter– and difficult questions about whether or not to rebuild in the fire zone. Grist reporter Jake Bittle tells Akshat Rathi how California’s housing market and insurance regulations will shape the recovery. And Nomad Century author Gaia Vince says that in this era of climate instability, everyone should think about how prepared they are to become a climate migrant. Explore further: about the 1.5C warming goal being surpassedsci-fi writer Kim Stanley Robinson about imagining the future role of the UN in fighting climate changeclimate change, conflict, and migrationabout the aircraft used to scoop water to fight fires in LA Zero is a production of Bloomberg Green. Our producer is Mythili Rao. Special thanks this week to Michelle Ma, Brian Kahn, Sharon Chen, and Sommer Saadi. Thoughts or suggestions? Email us at zeropod@bloomberg.net. For more coverage of climate change and solutions, visit https://www.bloomberg.com/green. See omnystudio.com/listener for privacy information.

In the US right now, there is a lot of talk about a so-called "nuclear revival," though it remains to be seen whether whether that translates into action. Meanwhile, China has built 37 nuclear reactors in the last decade, with even more in the works. So what does it take to build nuclear at scale? On this episode of the Odd Lots podcast, Bloomberg's Joe Weisenthal and Tracy Alloway speak to David Fishman, a China-based energy analyst at The Lantau Group. He explains all the elements of the country's nuclear success, from financing to manufacturing to its domestic power markets. See omnystudio.com/listener for privacy information.

In December, Europe’s Copernicus weather service announced that it was “virtually certain” that 2024 would be the hottest year ever. What’s more, the global average temperature last year appears to have surpassed 1.5C for the first time, blowing past a threshold that’s taken on enormous significance in the fight against climate change. Does that mean governments, corporations, and activists recalibrate their climate goals? Akshat Rathi speaks with reporters Eric Roston and Zahra Hirji about what this new reality means. Explore further: sci-fi writer Kim Stanley Robinson’s visions for 2025Eric Roston and Katharine Hayhoe about the extreme weather events brought on by rising temperaturesabout conflict and peace-building on a warming planet Zero is a production of Bloomberg Green. Our producer is Mythili Rao. Special thanks this week to Sharon Chen, Siobhan Wagner, Ethan Steinberg, and Jessica Beck. Thoughts or suggestions? Email us at zeropod@bloomberg.net. For more coverage of climate change and solutions, visit https://www.bloomberg.com/green See omnystudio.com/listener for privacy information.

Science fiction writer Kim Stanley Robinson imagines the future for a living. And the future is very much upon us. Robinson’s seminal 2020 novel Ministry of the Future opens in the year 2025. Robinson tells Akshat Rathi about how our real-life climate politics stack up against what he imagined for this era. They also discuss the dangers of science-fiction thinking in politics and why, for all his admiration of science and technology, Robinson remains so enamored with the unglamorous workings of a body like the United Nations. Explore further: Past episode with Kim Stanley Robinson about climate utopias and optopias Past episode with outgoing White House Climate Advisor Ali Zaidi about what the next four years will hold Past episode with Colombia’s environment minister Susana Muhamad about the country’s commitment to fossil fuels nonproliferation Zero is a production of Bloomberg Green. Our producer is Mythili Rao. Special thanks this week to Sharon Chen, Siobhan Wagner, Ethan Steinberg, and Jessica Beck. Thoughts or suggestions? Email us at zeropod@bloomberg.net. For more coverage of climate change and solutions, visit https://www.bloomberg.com/green. See omnystudio.com/listener for privacy information.

The “cold chain” that delivers our food is inconspicuous but vast. The US alone boasts around 5.5 billion cubic feet of refrigerated space; that’s 150 Empire State Buildings’ worth of freezers. Now, the developing world is catching up. On Zero, Nicola Twilley, author of Frostbite: How Refrigeration Changed Our Food, Our Planet, and Ourselves, discusses how refrigeration became so ubiquitous and what our reliance on it means for our palates and the planet. Explore further: with Stacey Abrams on how kitchen-table decisions can cut emissionswith journalist George Monbiot on how the world’s food system needs a radical rethink with two vertical farming companies taking agriculture indoors Zero is a production of Bloomberg Green. Our producer is Mythili Rao. Special thanks this week to Kira Bindrim, Aaron Rutkoff and Monique Mulima. Thoughts or suggestions? Email us at zeropod@bloomberg.net. For more coverage of climate change and solutions, visit https://www.bloomberg.com/green. See omnystudio.com/listener for privacy information.