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tv   BBC World News Outside Source  PBS  November 3, 2021 5:00pm-5:31pm PDT

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♪ ♪ narrator: funding for this presentation of this program is provided by... narrator: pediatric surgeon. volunteer. topiary artist. a raymond james financial advisor tailors advice to help you live your life. life well planned. woman: the rules of business are being reinvented with a more flexible workforce. by embracing innovation, by looking not only at current opportunities, but ahead to futurones. man: people who know, know bdo.
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narrator: funding was also provided by, the freeman foundation. by judy and peter blum kovler foundation; pursuing solutions for america's neglected needs. and by contributions to this pbs station from viewers like you. thank you. announcer: and now, "bbc world news". ♪ >> hello. this is "outside source." welcome if you are in at the u.k. on the bbc news chael, and on pbs in the u.s. we are going to start with cup 26 because big companies have now joined the push for a clean climate at the glascow summit. many companies are pledging to pull funding away from fossil fuels and put it into renewable energy.
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the u.k. had this announcement. >> we are going to move towards making it mandatory for forms to publish a clear, deliverable plan setting out how they will the carboniz and transition to net zero. >> also in the program, mp's in the.k. voted against an mp who broke lobbing roles. he used his position to benefit to companies that he worked for. government is being accused of trying to rewrite the rules to change the outcome. ♪ >> on day four of cop-26, the climate summit is very focused on one major question. how to finance the commenting of climate change. it will take trillions of dollars and a lot of that will have to come from wlthier countries and from big business. today, we got villages from both.
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-- pledges from both. for small, here's the president. >> we need developed countries to deliver on public finance and to unleash the trillions required in a private investment . we have made progress. toy, there is more public finance and action than ever before. i believe we are on the cusp of a new era, where rich countries put more money on the table to support developing countries. where financiers go beyond tilting the new economy in parallel with the old, instead financing the displacement of coal. >> let's look at how big businesses may help. it was announced that more than 400 of the worlds biggest finance companies have signed up to a new climate coalition. it is called the fans. it is worth 130 trillion
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dollars. they are committed to helping hit net zero targets by 2050. in practice, what's this means is a lot of loans for renewable energy projects. thanks involved in the coalition will be expected to pull funding away from coal and other fossil fuel projects in developed nations. initiatives being led by boris johnson's finance advisor, the former bank of england governor. >> make no mistake, the money is here. if the world wants to use it. finance is no longer a mirror that reflects a world that is not doing enough. it is becoming a window through which ambitious climate action can deliver a sustainable future that people all over the world are demanding. it will help and the tragedy on the horizon. >> took spine how this will work in practice, here's the bbc's economic editor. >> it doesn't necessarily mean all $130 trillion will go and
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subsidize wind farms around the world. what it means is that when they're making decisions in allocating loans and capital, it is really important that when decisions are made, questions will be asked. there will be a squeeze on the decisions made at the stage. there will be incentives for them to lend their marginal money to a green project and less and less to what is known as brown holdings. it does not prohibit or stop things, but it means in a crucial area, the allocators of capital that you get a change in the way decisions are made. they hope that will mean tangible change. i know that in practice, already some big executives have had to script -- discussions with coal miners and oil drillers about
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lending money very cheaply because you literally have a gold mine of cash, you generate cash from these assets, but now i have to ask if you will be around in 20 years time. i will charge a lot more money for that loan. that's what we're talking about. it is about incentives, carrots. it is not about prohibitions, regulations, and a stick, if you like. >> that is how the investment plan will work with the help of big business. in talking about the future, at cup 26 today, there was plenty of focus on an existing pledge that has yet to be met. if you go all the way back to 2009 at the cop summit in copenhagen, they agreed to mobilize $100 billion of finance per year by 2020. it was a key pledge at that summit. as you can see here, that has not been met. in the lead up to top 26, the u.s. released a planet saying it will not be met until 2023. as you can imagine, that has angered developing nations.
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more than 100 of them released a paper before the conference saying, there can be no more excuses for unfulfilled, says, particularly climate finance. policy expert the ngo german watch is here. >> we know that they have not met the $100 billion. there is a gap. that is a huge issue in terms of trust. trust is the foundation for negotiations. >> also at the summit, african leaders have been making their case for more to be done to reach that 100 billion dollars a year target. we have been speaking to kenya's president. >> each time, hopes are high, the results are always greatly underwhelming. >> have they been lying to you? >> this is the question we are putting to them today, it is what we are saying. even before we begin talking
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about new commitments, let's see you fulfill those pledges that you have already made and declared to the world. we really expected a lot, especially after paris. kenya, and i think the developing part of this globe, expected a tremendous amount as a result of the pledges that were made. here we are. it is almost six years down the road and not a single one of those pledges has been met. >> here's the u.k. government's chance. finance advisor speaking in glasgow and trying to ease those concerns. >> i want to speak directly to the developing countries of the world. we know that you have been devastated by the double tragedies of coronavirus and climate change. that is why the g20 is stepping up, to provide debt treatments more swiftly. it is why we are going to meet the target to provide $100
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billion of climate finance to developing countries. while we know that we are not yet meeting it soon enough, we will work closely with developing countries to do more and to reach the target sooner. over the next five years, we will deliver a total of $500 billion of investment to the countrs that need it most. anchor: when this money does arrive for developing countries, it comes in the form of loans. there is concern that those could plunge some developing countries into debt that they cannot sustain. our correspondent has more on this. >> in 2018, we actually had good figures. 74% of the money given was in loans that do have to be paid back, only 20% in rents. when many countries are heavily in debt, especially because of the covid pandemic, they are put in a almost impossible position, especially -- the you
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and experts that i've spoken to say that $100 billion is a floor, not a ceiling. this afternoon, on behalf of the u.k. presidency, trillions of dollars in additional investment are needed to help poorer countries. we are talking about reengineering every single economy on the planet in a very short space of time. it is a revolution and when we are all going to have to live through. anchor: as always, if you want more background on cop-26 and all the issues it is wrestling with, do head to the bbc news website. you will find copperheads of analysis of all the pledges and actions live a high them from our environment correspondent and many other bbc journalists in glasgow. you can find all of these at bbc.com/news. let's have a look at one particular company that is attempting to meet its climate targets. shall. it is one of the biggest oil
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companies in the world. he has been speaking to the bbc business editor at the company's biggest oil refinery in the netherlands. >> 20 million tons a year flow through here, the largest refinery in europe. globally, shell has a footprint the size of russians. the chief executive said shall transition to net zero as possible, but it will need money from the oil and gas business to pay for it. >> this business is going to be transformed. we will produce biofuels and we will produce hydrogen over the horizon. all of these things can only be done if you actually have a facility to work with, but also if you have the cash to invest with it. the cash at this point in time comes from our legacy business. >> it is not a legacy. they want to develop a new field in the north sea. how do they justify that? >> that is not gas.
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the demands are from our own resources. we want less imported from somewhere else, probably a larger carbon footprint. i don't think that is going to contribute, not to the balance of payments of the country, but also not to the carbon footprint of the world. >> they plan to spend four times as much on oil and gas as were nobles next year, which is why some doubt it can obey a dutch court order to eliminate their emissions by 2050. >> even if you are very generous and get them all that they need, they might just miss their 2030 target and they will not be able to deliver in 2050. in fact, they will be increasing 2030 and still producing significant missions in 2050. >> they insist their emissions are on track. >> we have reduced emissions
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already to 17%. we are on track to get to -50% by 2030. it is going to be measured, put on scorecards. part of my bonus is going to be dependent on us meeting this. >> member, these targets don't include emissions from customers using shell products. that is nighty percent of the total footprint. this gigantic oil refinery is changing to make less carbon intensive products. they will not be good or fast enough for some people. some would like to see it shutdown tomorrow, but our lives are very much entwined with industries like this. if you have a pension, you own shares in shell and bp. there are those who believe we should be withdrawing our financial backing for industries like this. selling out and walking away would be a mistake according to the world's biggest money manager. >> we cannot have any say in the companies if we are not insted in them. we have a seat at the table and engage with them. we cannot divest from the world. >> as powerful as they are,
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customers may be more powerful. as long as there is demand for fossil fuels, shell or someone else -- will supply it. ♪ anchor: here in the u.k., a conservative mp who was found to have broken lobbying rules will no longer face immediate suspension. mps voted to look at an overall overhaul of the entire process. an investigation ruled that the former minister be suspended for six weeks for repeatedly lobbying ministers and officials for two companies which were paying him more than 100,000 pounds a year. coervative mps voted for a change to the disciplinary system. that means his suspension is halted for now. here's our correspondent ian watson. >> how much faith d place in politicians to police themselves? today, the government backed
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changes which could give mps accused of wrongdoing a new right of appeal. labor said it is like the government is watching down the system thats supposed to tackle sleaze and it could further widen the gulf between politicians and the publi >> this isn't about playing politics come at this is about playing by the rules. as we can see, it is wrong -- it is one rule for everyone else and one rule for the conservatives. when they break the rules, mr. speaker, just remake the rules. >> boris johnson insisted the government simply wanted to give the mps the same rights as any other people accused of professional wrongdoing. >> may i respectfully say to her that i believe instead of playing politics on this issue, which is what they are doing, i think that she needs to consider the procedures of this house in a spirit of fairness. reporter: this is what the ro is
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all about. the labor is accusing the government of helping this man, a former minister he had broken rules on lobbying. they said as a result, he should be suspended for 30 days. but that action has now been put on hold and changes to the system are being considered. he has said that a two-year stressful investigation was a contributory factor in his wife taking her own life. he also had other complaints with how the investigation was carried out he had no right of appeal, no ability to call witnesses in his own defense. a committee of conservative mps are looking at makinghanges accordingly. critics say this is showing favoritism and further undermining of a confidence in parliament. >> we are marking our own homework. our reputation collect elite and individually will be tarnished.
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it is essential to protect us. >> it can only work if it is across the house. it looks like we are moving the goal post. 19th they are not showingent partisan favors. his case for flex more widespread concern across mps whether the current system gives them more hearings. >> i believe it is about the volume of hearings that have come through and the widespread feeling of unfairness across all benches. it has been brought to my attention and the attention of others. in very simplistic, cliche terms, this is the famous straw that broke the long-suffering camels back. reporter: trust in politicians remain slow and critics say that by writing their own report, it won't do anything to restore it. the changes are long overdue. anchor: as you are following the
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program, if you have questions or comment on the stories that we cover, you are welcome to follow me on twitter and send those thoughts my way. you can also get plenty of background on the stories we cover through the bbc news website as well. you are watching bbc news. ♪ anchor:ttorney u.s. politics. the democrats have suffered a series of setbacks in state-level elections. mayors and governors are being chosen and this is in part about americans letting us know how they feel about their president. we are now one year into the aydin presidency -- biden presidency. he took office in january. the biggest upset was in virginia. esther, president biden won the state with a 10 point margin. but the democrats were defeated. they now have a republican. >> together, we will change the
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trajectory of this commonwealth. [laughter] -- [applause] >> and friends, we are going to start that transformation on day one. anchor: glenn youngkin one, despite democrats trying to tie him to former president trump. they focused on attracting derates. he talked a lot about the economy, which voters say is their number one issue. the defeated democrat was terry mcauliffe. the failure of the democrats in congress to agree on a way forward on president biden's spending bills made this a difficult campaign for him. there was also an unforced error as well. tom bevan is the founder of the dutch of a polling website. >> he made this comment during a
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debate, saying that parents should not be in charge of what their kids are taught in schools. instead of walking that back and correcting it, he doubled down and tripled down on it. that is really the point where he was comfortably ahead in his race until that moment. glenn youngkin really took that issue and used it effectively to fuel his campaign. anchor: virginia was a headline loss, but the governor race is still in the balance in new jersey. for the democrat incumbent, he is on a 49%. the republican is on 49.3%. ther are only about 15,000 votes between them. neither candidate is giving way. >> i wanted to come out here tonight and tell you that we won. but i am here to tell you that we are winning. we are winning. >> we are going to have to wait a little while longer than we had hoped. we are going to wait for every
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vote to be counted and that is how our democracy works. anchor: context here is that new jersey was one bite president biden in the presidential election by 16 points. the context looking ahead is the midterm elections, which come next year, when seats in congress will be up for grabs. best known for working with republicans, he thinks democrats will be asking themselves some difficult questions. >> why have these two key states moved against us? what have we said, what have we done, to cause voters to be so angry and upset? there are a lot of democrats that are very afraid or now. when they come to work tomorrow in washington, d.c., the president is going to have a lot of buried different congress to work with. a congress that is very nervous about their own futures over the next 12 months. anchor: we will bring in a correspondent lie with us from washington. barbara, a lot to digest. in practical terms, what are the
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consequent as of these defeats for the democrats echo -- democrat? reporter: they're going to have to -- basically, there being looked at as a referendum on mr. biden and how they should be looking at the midterms coming up. it is not exactly a roadmap. things could change between now and next year. certainly, clues as to where things are going, and i think they're big take away is that the political climate seems to be favoring republicans at the moment. you have a win in virginia of the republican candidate. in new jersey, even if the republican doesn't win, they put in a strong showing. the big question is, how much of what is happening in washington part of that? mr. biden has not been able to get through his signature economic policies because of differences within his own party in congress. it is tied up in congress at the moment. this is at a time of pressures arising in his approval ratings are down quite a bit. this seems to have factored into
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these different polls, despite the specifics of each state. there is going to be a lot of soul-searching about that. practically, for the republicans, they are very pleased, as you can imagine about the republican win in virginia. they think that perhaps the candidate when young can, now the governor-elect, has come up with a formula that may help them to win in a post trump europe. he managedo satisfy mr. trump's face -- base. they're going to try to build on that. anchor: presumably that cut collation around mr. trump becomes more difficult. if it stops being a post trump era and comes a trump era once again, if he officially decides to run. he will be right in the middle of discussions. barbara: yes, that is true. but that seems unlikely or it is not necessarily going to happen by next year.
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with their focused on right now is the midterms. next year and -- dear, the presidential election will be in 2024. glenn youngkin had the balance of trying to do just enough to galvane the base, but also keep a distance from trump, an order not to switch off those who did not like him. it has to be said that mr. trump played along. he did six times endorsed glenn youngkin, but he never went after him for any reason. he didn't come to the state and going young can didn't really want him to. at least, it didn't seem that way. he stayed away from those rallies that mr. trump's surrogates were leading. we'll mr. trump stand the shadows, so to speak, with other elections that may have similar dynamics? that is an open question and they become less and less likely as we get closer to 2024. anchor: a man not known for his
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enthusiasm in the shadows. thank you for speaking with us. ♪ anchor: let's turn to the pandemic. health minister says there having a massive pandemic of the vaccinated. rates are soaring in germany in what is being called the fourth wife. some doctors are saying hospitals are now under increasing pressure. let's hear or from lynn and the bbc's jenny hill. >> alarm bells are ringing here in germany when a fourth wave of infection is underway. infection rates have been rising fast in recent weeks. we have been seeing rates at levels not seen here for a good few months. this morning, the country's health minister gave a press conference. he described this as a massive pandemic of the unvaccinated. he went on to say the vast majority of those who had been hospitalized with covid people who have not been vaccinated.
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he is very concerned about that. as you know, germany is not a country which is making vaccinations into tory, although -- vaccination mandatory, although there are conversations now about whether those who work in nursing homes and care for the elderly should be first -- forced to have vaccinations. many of them have not been vaccinated. what you're going to see in the coming days and weeks is regions in germany's where case numbers are particarly high starting to put restrictions on people who have not have tir vaccination. for exam, people won't be able to visit restaurants, public events, fitness centers. it may be that there are further restrictions. it is likely to cause a lot of anger in some sections of society. i should point out that around 67% of germans have had their vaccinations. when you compare that to some of the countries, it is not a bad
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figure. still, the authorities say it is not enough to break this fourth wife of infection. in aition to all of those concerns is the fact that people who have been vaccinated, as the months go by, are starting to see the efficacy of those vaccines starting to wear off. this country is now looking at a booster campaign. at the moment, it looks as though germany is narrator: funding for this presentation of this program is provided by... narrator: financial services firm, raymond james. n: bdo. accountants and advisors. narrator: funding was also provided by, the freeman foundation. by judy and peter blum kovler foundation; pursuing solutions for america's neglected needs. and by contributions to this pbs station from viewers like you. thank you. ♪ ♪
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narrator: you're watching pbs.
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♪ ♪ narrator: funding for this presentation of this program is provided by... narrator: pediatric surgeon. volunteer. topiary artist. a raymond james financial advisor tailors advice to help you live your life. life well planned. woman: the rules of business are being reinvented with a more flexible workforce. by embracing innovation, by looking not only at current opportunities, but ahead to future ones. man: people who know, know bdo.

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