Despite significant political opposition, the EU Nature Restoration Law was adopted and entered into force in August 2024, setting legally binding targets for ecosystem recovery.

The report warned that without immediate and massive emission cuts, current policies would lead to catastrophic warming of between 2.6°C and 3.1°C this century.

The World Meteorological Organization (WMO) confirmed 2024 as the warmest year on record, being the first year to breach the critical 1.5°C threshold above the 1850-1900 average.

The 16th meeting of the Conference of the Parties to the Convention on Biological Diversity (COP16) took place in Cali, Colombia, under the theme 'Peace with Nature'.

At COP29 in Baku, nations agreed on the New Collective Quantified Goal (NCQG), setting a target for developed countries to mobilize at least $300 billion annually by 2035 to support developing nations.

The fund provides financial assistance to nations most vulnerable to the adverse effects of climate change.

Japan remains the largest foreign holder of US government debt, surpassing China.

Investors borrow in Japanese Yen (low interest rates) to invest in higher-yielding assets elsewhere. When the Yen strengthened, this trade unwound violently.

Vietnam has been the primary beneficiary of companies diversifying supply chains away from China (China Plus One strategy).

The OECD-led deal ensures that multinational corporations pay a minimum tax rate of 15% in every jurisdiction where they operate.