The State of American Politics Ahead of the United Nations Climate Summit
The United Nations Climate Change Conference 2021, dubbed COP26, begins Sunday, October 31st and runs until November 12e in Glasgow, Scotland. The summit was originally scheduled to take place last year, but the COVID-19 pandemic has caused delays.
The World Climate Summit meets every five years and was promulgated after the 2015 Paris Agreement, an agreement that includes all countries in the world except Turkey, Iraq and the United States. Iran, according to SCS.
The goal of this year’s summit is to ensure that countries strive to meet their goals of reducing greenhouse gas emissions, moving away from coal and creating a global carbon market. . With the United States’ withdrawal from the Paris Agreement by former President Trump and the return of President Biden, the United States should come under a lot of scrutiny, especially since it is the most major producer of fossil fuels and one of the largest producers of greenhouse gases. at the World level.
President Biden is working to push climate legislation through Congress and earlier today announced a revamped $ 1.5 trillion version of the climate and social spending bill, reported CNBC. Democratic refractories in the Senate want the social spending bill to be flattened first, especially since the creation of a federal system of paid family leave and medical leave was one of the cuts made by the government. Biden administration in the reworked bill.
“It is obvious that the position of the United States and its negotiating capacity will be much more important if all the planned commitments can be demonstrated as commitments that will be implemented,” said United Nations Secretary General AntÃ³nio Guterres at the meeting. ‘a press conference. .
Current policies by countries around the world put us on track for a 2.9 degree Celsius increase, better than the 3.7 degree increase before the Paris Agreement, but still well above the target of 2 degrees of initial agreement, and well below the threshold of catastrophic weather patterns and effects to global economies.
The original agreement called for countries every five years to set voluntary targets to increasingly cut emissions and achieve net zero carbon emissions by 2050. So far, the United States has been pledged to halve their emissions by 2030 in April, but major global emitters like China, Brazil and India have yet to announce their updated targets.
The summit is also working to provide assistance and commit to helping climate change internationally by helping fund green efforts in developing countries. As recently as last month, President Biden pledged to double funding for developing countries to help mitigate climate change-related disasters, pledging $ 11.4 billion in total.
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As a semi-transparent fund using the Fidelity model, PLDR does not disclose its current holdings on a daily basis. Instead, it publishes a tracking basket of previously disclosed holdings, liquid ETFs that reflect the portfolio’s investment strategy, and cash and cash equivalents. The monitoring portfolio is designed to closely monitor the overall performance of the actual fund portfolio, and reports on the actual portfolio are published monthly.
Assets at the end of September included Microsoft Corp. at 8.19%, Apple at 7.29%, and Amazon.com at 5.03%. The fund was heavily allocated to information technology stocks at 32.47%, followed by healthcare at 16.55% and consumer discretionary at 14.94%.
PLDR has an expense ratio of 0.59% and held 61 stakes at the end of September.
Meanwhile, the Putnam Sustainable Future ETFs (PFUT) invests in companies seeking to provide solutions to future challenges of sustainable development. This is a forward-looking approach, as these companies contribute to the development of ESG and to the resolution of issues related to sustainable development.
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PFUT’s main sector allocations at the end of September were 34.26% in healthcare stocks, 28.23% in information technology and 9.45% in consumer discretionary.
The ETF has an expense ratio of 0.64% and held 72 positions at the end of September.
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