In 2024, the world experienced significant climate-related events, highlighting the escalating impacts of climate change:

1. Record-Breaking Heatwaves and Temperature Anomalies

• Antarctic Heatwave: In July 2024, Antarctica experienced an unprecedented heatwave, with temperatures soaring up to 28°C above average. This mid-winter anomaly was linked to a weakened polar vortex, exacerbated by El Niño and ongoing climate change, leading to reduced sea ice coverage.

2. Escalation of Extreme Weather Events

• Increased Frequency of Tropical Storms: Provisional data indicated that 2024 witnessed 86 tropical storms globally, with 43 escalating to tropical cyclones and 22 reaching major cyclone status. These storms caused widespread destruction and displacement.

• United States Climate Disasters: The U.S. faced 27 weather and climate disasters, each causing losses exceeding $1 billion. These events included severe storms, floods, and wildfires, underscoring the nation’s vulnerability to climate-induced hazards.

3. International Climate Conferences and Agreements

• UN Climate Change Conference (COP29): Held in November 2024 in Baku, Azerbaijan, COP29 concluded with developed nations committing to mobilize at least $300 billion annually by 2035. This funding aims to assist developing countries in reducing greenhouse gas emissions and adapting to climate impacts.

4. Legal Actions Linking Emissions to Climate Impacts

• Peruvian Farmer’s Lawsuit Against RWE: Saul Luciano Lliuya, a farmer from Peru, sued German energy company RWE, alleging that its greenhouse gas emissions contributed to glacier melt threatening his hometown. This landmark case sought to hold corporations accountable for their role in climate change.

5. Shifts in Financial Sector’s Climate Commitments

• Banks Reassess Environmental Pledges: Several financial institutions, including HSBC, Standard Chartered, and Barclays, scaled back their environmental commitments in 2024. Influenced by a backlash against corporate environmentalism, these banks restructured their sustainability efforts, reflecting the challenges of balancing stakeholder expectations with economic considerations