I strongly disagree with fitchs decision, and i believe it is entirely unwarranted. Its flawed assessment is based on outdated data, and fails to reflect improvements across a range of indicators, including those related to governance that weve seen over the past 2. 5 years. Other democrats used the downgrade as an opportunity to point the finger at republicans for their role in the recent debt limit fight. While republicans blame joe biden and democrats for trillions of dollars in new spending. Many economists dismiss the downgrade, including Jp Morgan Chase ceo jamie diamond, who called it ridiculous and said that the decision ultimately didnt really matter. And he may not be wrong. Us treasuries, that is government ious, remain the bedrock of the Global Financial system, despite this latest knock to the reputation. Expectations are high that it will raise rates again. If so, it could take the cost of borrowing up to a 15 year high. Consumer inflation has come down more than expected
applause many said this could not be done. but when i spoke to you at the very start of this cop, i promised a different sort of cop, a cop that brought everyone together. private and public sectors, civilsociety, ngos, faith leaders, youth, and indigenous peoples. everyone came together from day one. everyone united, everyone acted, and everyone delivered. we operationalised the loss and damage and started to fill the fund. we mobilised more than $83 billion us in new financial commitments. we launched alterra, the world s largest catalytic private investor that is 100% focused on solutions to climate change. and we delivered world first after world first. a global goal to triple renewable energy and double energy efficiency. declarations on agriculture, declarations on food, declarations on health. many more oil and gas companies stepping up for the first time. stepping up to deliver against a very ambitious goals and objectives. and, for the first time, to deliver on metha
politicians are feeling a sense of urgency. look, we ust have to do everything of urgency. look, we ust have to do everything to of urgency. look, we just have to do everything to try - of urgency. look, we just have to do everything to try and - of urgency. look, we just have to do everything to try and getj to do everything to try and get as much renewable energy into the ground as soon as possible. we know that s the cheapest way to replace the ageing and retiring coal fired power. it s a complicated process. we re doing the industrial revolution in about 15 years. our priority in about 15 years. our priority in new south wales, and mine as the ministerfor climate the minister for climate change, is to make sure that we do our bit to reduce our emissions as quickly as possible. emissions as quickly as possible- emissions as quickly as ossible. , , . , possible. energy prices in australia possible. energy prices in australia are possible. energy prices in australia are fue