It is a daily ritual for millions of Australians, but if you have noticed the price of your morning flat white or soy latte increase, brace yourself — it is likely to get worse.
By the end of the year,...
It is a daily ritual for millions of Australians, but if you have noticed the price of your morning flat white or soy latte increase, brace yourself — it is likely to get worse.
By the end of the year,...
Miami, despite being highly vulnerable to climate change, is experiencing a surge in population and development. City officials are working on adaptation measures, such as stricter building codes and infrastructure enhancements, but there are concerns about the financial risks for residents. Climate risks include sea-level rise, flooding, property damage, and insurance premium increases. However, many residents remain optimistic and are willing to overlook these risks, citing the city's desirable weather and economic opportunities.
The Inflation Reduction Act has allocated $8.8 billion to make homes more energy-efficient. Eligible homeowners can receive up to $14,000 to cover upgrades like electric heat pumps, insulation, or appliances. Low- and moderate-income households will qualify for more funding. The program aims to save households over $1 billion annually in energy costs. While the first state application has been approved, it's expected that many consumers will be able to access rebates within months.
Governments buy homes in floodplains to help homeowners move to safer areas and reduce future flood damage. FEMA's Hazard Mitigation Grant Program has purchased thousands of homes since 1989, with 75% of funding coming from the federal government. While buyouts can lead to open space and protect other homes, they can also pose challenges for governments in managing the land. Despite the ongoing housing shortage, these programs continue to provide assistance to homeowners affected by flooding.
Mortgage rates have slightly increased to 7.34%, but their future direction depends on the labor market. Rising homeownership costs also include increasing insurance and taxes, especially in areas prone to natural disasters. While the housing inventory is improving, concerns have been raised about a change in commission arrangements for real estate agents, which may affect home sales.
The SEC mandates climate-related reporting to inform investors about climate change impacts on businesses. Companies will disclose physical and financial risks, greenhouse gas emissions (Scope 1, 2, and 3), in annual filings and registration statements. Similar reporting is already required in many countries and California. The SEC's rule faces potential legal and congressional challenges, especially regarding the disclosure of Scope 3 emissions.
The SEC's new rule mandates certain U.S. public companies to disclose climate risks and greenhouse gas emissions, fostering transparency in climate-related matters. However, the final rule excludes reporting of "Scope 3" emissions, a significant aspect of a company's carbon footprint. While aimed at providing investors with relevant information, the rule's lack of inclusivity limits its effectiveness. Challenges to the rule are expected due to the SEC's perceived authority over climate issues.
