It can be hard to keep track of your investment as market volatility in inflation persist in our changing world. I shares can give you perspective to help you resist the urge to make drastic changes to your portfolio and focus on the things you can control I share his timely market. Insights and tools can help you navigate and ever changing investment, landscape and learn about different investment options. So you can stick to the long term strategy that has helped your portfolio grow. Let your best investor out visit. I should Dot com for more information in your times. I'm likeable borrow this. Isn't it today, the story behind the ambitious new global agreement to protect the planet, then you promise we haven't heard of my colleague, Catherine, I explained

the Friday january. Sixth, the captain, as twenty twenty two came to a close. Something really big happened in your corner of the world that I think escaped the attention of the rest of us even not really just my corner: it's not your corner of the world. If you think it's all it's it's nature, all corners it. Yes, something quaint, historic! Actually, so tell us about this thing, so listeners are probably familiar with the paris. this big global agreement to limit climate change where the world locking hands dozens of countries and saying we are going to do something about carbon emissions rights So similarly, countries of the world came to

they're just now in december in montreal, and set working to tackle this big other crisis. Biodiversity loss, in an agreement on the same scale. Arguably similar lots of people. There really talked about it as a paris moment for biodiversity. You, biodiversity loss, is this. Crisis that has been really overshadowed by climate change and people are really trying to wake the world up so tells us this biodiversity crisis that merited such a historic global, a core and agus on a more basic level, tell us about the very meaning, a biodiversity like what is biodiverse right and one of the world decide to get together and address it. Will biodiversity is the variety of life on the planet right so that include species and also ecosystems and the buyer

firstly lost that's happening right now around the world is unprecedented in human history. Of course, there have been extinction. Events of the past that are worse but, like you know that one of those with sixty five million years ago with the dinosaurs right, so in terms of how we ve been around on the planet? This is worse than its ever been. The global rate of species extinction is at least tends to hundreds of times higher than the average over the past ten million years, so that, when more than the global rate of species extinction right now is at least tends to hundreds of times higher than it has average over the past ten million years. While so. This is a uniquely bad moment for extinction and biodiversity loss. Since humans have been around- and you know you can think of ecosystems as like agenda tower and in fact, at the global

diversity talks in Montreal there was a sculpture of agenda tower to make this point, you can take out pieces and for a while it remained standing, but scientists don't really understand which com nation of blocks that get removed from that tower are gonna, totally destabilize it and make it collapse. But you know, is that the more we remove the more unstable the tower becomes. The gave us some real world examples of this to congratulate I think we're all really familiar with endangered animal right so like we grew up learning about tigers and pandas and like ps, those species are doing really well tigers and pandas conservation actually works. When you do it and you give it the resources it needs. But if you look at

biodiversity writ large species are going in the opposite direction right there, plummeting insects have been called the little things that run the world. He right there at the base of the food chain there supporting everything above them and sector, are in real trouble. Take the american burying beetle, for example, have you heard of it? I am not so it's actually kind of a big beetle as beetles go its black with these red splotches, and what these beetles do. Is they search out dead birds and mammals of a certain size can't be too? can't be too small rodents, squirrels passenger pigeons when they were around and a man, and a female worked together to bury this dead animal in the ground. They then may These secretions, they rapid, are all these secretions and then the female

the eggs on or near the dead animal amazing and when the eggs, hats They feed on the dead animal, but the important thing that they do for like us is that all that dead animals stuff makes the soil really read trains and are actually improving the soil. So hospitals are just using in their secretions and wrappings and earth fertilizing they're doing something quite important

for the soil and therefore for you and I exactly right and these beetles used to be widespread across the eastern half of the united states and they basically just collapse throughout the last hundred years or so, and so was the next example to think about. The classic example is pollinators by which we mean bees and butterflies and bats, so seventy five percent of the world's crap benefit from animal pollination. I I do think it's important to say that, like a lot of our cereal crops like wheat and corn and rice, those are wind pollinate. It's not like. They pollinate everything right but like they pollinate one out of three bites that every american

each. According to the usda ass unease at his dick out is happening to our pollinators. They heard touring really badly. You know, one study showed that the relative abundance of five bumblebee species has declined by ninety six percent. The huge fall. yeah, and so one thing that farmers have done as they were placed these wild pollinators say bumblebees, for example, with domesticated bees honeybees, I dont know if listeners no but like honeybees aren't native to the united states, there, there domesticated their trucked around from crop to crop right and farmers pay. Fur beekeepers to bring these honeybees to pollinate almonds and apples and catholic paid consultants to the crop move, not consultants there actually like, like carter

workers yeah, but even honeybees. These domesticated bees are collapsing and beekeepers are reporting, really large losses and something that there really struggling with. So what exactly is causing all the loss of biodiversity across the world? What is behind us peace. Being in this, what trouble the big intergovernmental scientific panel on biodiversity loss of the leading global authority has ranked the columns the drivers in order. Would you like to guess what I like to get? I would what's the top com as for biodiversity loss number one in the world I mean just based on my new judgments. I'd have to guess it would be climate change. No, no! Ok! You industry Some young consumption change

and and see use as the way they put it. Before I mean it's basin humans taking over ecosystems for our own purposes, right agriculture towns and communities mining. We take over land and we take over the sea right. That's the first car hmm, do you want to guess a number two? I don't want to guess anymore now they call it direct exploitation of organisms which is like hunting and fishing, and actually killing these animals for our own use. Animals and plants. Rain number three as climate change interest and now in the coming decades is predicted to be the number one like it. If if climate change goes unchecked, it will emerge as the major major driving factor right. It's already a factor, and it's only going to get worse. Well, let's focus for a moment on number three cause. I think one and two are somewhat intuitive humans. Either move into a place and make it hard for us pieces to exist, or they hunted make an endangered when it comes to climate change. How exactly does the relationship, or is climate change, a kind of cause and effect relation

yep. It can be there so interlinked. Biodiversity loss and climate change are so interlinked. So take coral reefs, for example, when waters become too hot, the corals expel the algae that they need to survive and the corals will bleach and eventually die right. So animals and plants have certain temperatures and climb. The conditions that leaves evolved over tens or hundreds of thousands of millions of years to live in and if those change then we'll see how that goes for them right, scientists, third, racing to try and understand how this is all going to play out. Of course, all of these things build on each other. Unfortunately, so, for example, for animals to adapt to climate change, they need to be able to move to new places like move up in altitude or move toward the poles, where it's going to be colder right. However, because of all the

at land destruction that we talked about before, like they can't get around they're hemmed in and climate change is going to wreak a much worse toll right. So in terms of these two big crises that we now face, I wonder if there is an easy way to answer this book, which is the bigger, more urgent problem, climate change, which we come to think of as the greatest challenge of our time or this loss of biodiversity, which is now getting more attention akin to climate change. Some scientists are increasingly arguing that their sort of comparable exponential threats. I put this question to catherine hey. How was this prominent climate scientists and she had a really interesting answer. She said climate change presents a new

the term threat to the future of human civilization, the biodiversity crisis presents a longer term threat to the viability of the human species, a translate that for us basically like in a shorter term. Climate change is a huge threat to to order, world ran governments be able to function with all the chaos the climate change could rick, but she's saying that the biodiversity crisis- it's it's a longer term thing, but she actually saying that it presents a greater threat to the viability of the human species. In other words, are continued existence, so one climate threatens how we organise ourselves. The other biodiversity threatens our very future our very existence, because we cannot live without it. We can't live without nature. and without framing- and it seems like over time, the loss of biodiversity is potentially a greater threat to us. Then climate change

especially given that we're starting to address climate change right so like the curve that we're on with climate- hinges. Improving biodiversity loss is not being addressed in the same way. and that is why, in montreal last month, all these countries came together nearly every country in the world to make this new global agreement. the No we'll be right back. The showtime original series, your honor, is back with a vengeance, starring academy award nominee Brian crashed in as ex judge michael desi otto facing the wretched his former life Michael, becomes ensnared in a federal agent scheme to destroy the bachelor family. Revenge can't bring back.

Ghali's lost, but redemption offers a ray of hope with the chance to strike down the back, empire a violent corruption? Will this be Michael shot at redemption or his fine? I'm doing the new season. Of your honor premiers Friday january thirteenth, only on showtime, I'm carol from the new york times right now, sitting alone in the press room at the: u S, navy basic one time a bay. I probably spent around two thousand nights at this navy base I've been coming here since hormone after the nine eleven attacks, I watched them. Where's prisoners arrive in those organs jumpsuits from far away Afghanistan. Some of these prisoners We still don't have a trial date, it's hard to get it's hard to get news from the prison often I'm the only reported here. if you build a military court in prison, each of the american people it should

want me out of reach of american journalism. We have a duty to keep coming back. Splain? What's going on here, the new york times takes you to difficult and controversial places. It keeps you informed about unpopular and hard to report. Developments and takes resource. You can power that kind of journalism by subscribing to the new york times, so tell us more about this global biodiversity agreement that was reached by all these countries and how it is supposed to confront the problem. So it's twenty three targets, there's a really splash one pint of the most well known one is called thirty by thirty and countries basically agreed to protect thirty person,

of land and thirty percent of oceans by twenty. Thirty was a really sexy number. It was really historic that it's conservation at a scale that has never been attempted before right. So how does that work in practice? And what might it look like? Protecting thirty percent of the world's land and water, so country by country countries, will identify Places that they want to protect- and that can mean a variety of things right, but what it basically is- gonna meet as they're going to restrict certain activities that are going to damage biodiversity, so they could restrict, say, logging. They could restrict fishing, it could restrict agriculture, and that doesn't mean that people can do anything on those lands, but they should be used in a very sustainable way. Let's get a little specific. What does this agreement? Imagine would be an example of a piece of land or portion of the sea that would become protected. I add a national,

work is like the obvious example. Rights or national park can count and already there's. Seventeen percent of the land already is across the planet is considered to be protect us in writing. So a national park is an example. However, there's there's other examples like the mayan biosphere reserve right is a territory of two million hectares and in guatemala, and local communities have managed that area for, like thirty years of their sustainable logging, others sustainable use, it's not like a park where people get kicked out and they gave him there. That is not the idea of thirty. By thirty, civically. Rather it's about protecting land in ways that people can use it sustainably right. So there's a practicality to this, which is like so, like thirty percent of the world was suddenly be rid of humans and industry, but instead will be managed in a more out from yeah. So there would be restrictions on logging restrictions on agriculture, research,

pins on on sort of the most damaging activities fishing right so that it could be used in a more sustainable way exactly. What is the role of the united states in this agreement? We're not in it we're not in it? No, why not wear one of two like un countries that aren't in it the other one? Is the vatican like the holy see right? Why isn't the united states in it there's just not the support among republicans in the senate is the short answer, by the? U s did send its biodiversity on voice to montreal. She was their negotiating and the bite administration has you know when he first took office, he didn't executive order, which is called america for which is essentially an american thirty by thirty. So certainly, if the, u S was a full member was a member of this treaty. It would be able to play a much more influential role and in places like montreal when the stuff is being negotiated, but they sort of did the best they could. U s a saying that we're with

even if you not signatories of assets right in there, You know their kicking in money, and so they they definitely are players in this and money is the issue. It was the most divisive issue in Montreal I mean for a minute there. It looked like it might derail everything and when- and why is money so important? Will this stuff costs a lot? First of all, some estimates seven hundred billion dollars a year to do all these things that have to be done in a reforming these industries. Like it's a lot and then on top of that there is this dynamic, which is like you see the same thing with climate change and its this idea, that sort of wealthier countries were able use their natural resources in order to get where they are today, but now that countries in the global south want to do the same, wealthy countries using onan. No, you can't for the good of us all. We have to leave the fossil fuels in the ground and we have to write, leave our biodiversity intact. He and when,

colonialism. On top of that right like these, could we literally in some cases, exploited the resources of other countries and other thing you can't exploit you're Resources where you had reason to preserve and preserve them for all of us countries are like. Ok, then pay us got so an element of this agreement is that countries that are less Austria lies are looking to more industrialized countries like the. U s and saying we need you. to subsidize us not using our natural resources in a way that my preserve biodiversity mean that fleet under of lying at. I dont think it's really spoken about more like we need help to do a lot of things, but the under current is that's like this nigerian biologist, I met their named joseph manager. He said they came around and plundered our resources to develop themselves in he's, like I'm, a conservation biologist, I want us to preserve nature, but

it's like you know it makes us really mad. When then we're told that we can't do the very thing that you did to our country. So, as we learned when it came to the global climate accords, countries like to make pledges they never deliver. For example, the? U S, someone notoriously has not contributed it's hard towards the cost of the global climate accord so for any reason to think that we are going to be contributing a lot of money towards this global biodiversity accord. Some of the money is already so tied up in. U s, aid and things, and that is there I mean the bigger question is: is this agreement. Gonna work at all ardor these targets gonna be met. At all I mean that I was not at all ambitious aren't as our no let's go there I mean the inevitable question when we're talking about a follow up.

To a global climate accord is didn't. We see that movie already and we realize that we're better at promising things and delivering it the whole world. That's really the question previous attempts at this kind of thing have failed miserably. These targets are super ambitious. I mean it would require like reforming agriculture and forestry and fishing in major ways, because they really do tackle these causes of biodiversity loss, but to change that as like transformational, change and and we're trying to do that in eight years. For seven, it's twenty twenty three and you know really it's not legally binding. So really what's in it, for countries is that they're just going to be sort of named and shamed if they're not keeping to their targets gotten. So, let's look at what happens if these lofty goals don't get mad? What does it look like these goals are so lofty they are

actually like setting out to halt and reverse biodiversity loss by twenty thirty rate. That's seems impossible just given reality, but the ghouls earth set high like that, because you know the ideas to get countries as close as they can right and so there's obviously many different ways that it turns out and how people should have bending the curve on biodiversity loss is. Is the answer that question is not one. It's not like. There's two outcomes, a succeed in a fail. I think it's a potential middle ground, all kinds of middle grounds right. Well, let's talk about what happens. If perhaps we don't fail and we don't massively succeed, but in this middle ground when it comes to biodiversity? It feels like that then means we have to do something similar. we do. When it comes to climate changes, we have to adapt we have to live in a world where both climate change and biodiversity loss are a fact of life, so want to turn to the question of what adaptation looks like when it comes to biodiversity. Are there good

Apples of that happening or potential future examples of that happening. What we talked about the honeybees earlier ray a contract, honeybee workers rights, Lastly, and you know another thing that we ve done just in terms of like how to survive with his growing population that we have, as does the Intensification of agriculture, which is driving biodiversity loss has also sustained us rate. So it's sort of difficult double edged sword were able to produce more food with us. Biodiversity, then, because we do things like we pull nitrogen from the air. fossil fuels to put it on fields rain, and we ve done this engineering of of seeds and crops to make them have these incredible yields right, but indeed, all that homogenization it's a huge risk because god forbid Some disease comes along or there are climatic conditions that change and you need something more: drought, resistance,

invaluable genetic diversity is like our safety net, and so, even as we intensify things were were like fraying, our safety net, that we have, god forbid. Something goes wrong on which your energy this is important and fastened you're saying in a world where we have a lot of biodiversity. We have a lot of sources of food and therefore a lower risk than any one thing can wipe it all out, but in responding to less biodiversity, we have come up with solutions like genetically engineered. Green lotta must rely on that, could more easily be wiped out, so in some ways were at greater risk in the world. With less biodiversity yeah. It's it's the world that we're creating in order to sustain eight billion people on the planet living with the consumption levels that we live at, but it's a huge risk. We

can innovate our way out of all these problems. Until we can't write and human adaptation as creative as it may be, you're really saying is always gonna be inadequate to some degree. there is another question here. We spent a lot of this conversation and in general, when, when biodiversity loss is discussing its about provision of food and water for people and and even just the joy that people get out of nature, There's a naked about us, we may get about us exactly

here there are millions of species on this planet and at the core of this kind of at the heart of this whole debate about biodiversity loss is how much of the planet are. We really entitled to catherine. Thank you very much. Thank you. So much yeah back. Here's what else you need kennedy, no, where he lacked. Having received the majority of the votes cast, a speaker has not been elected third day of humiliating defeats republic

in house, leader, Kevin Mccarthy, lost his own levin effort to become speaker display making major concessions to his biggest sceptics. I believe the time the members that have nominated an alternate candidate have expressed their concerns with leadership, and many of those concerns have been addressed and accepted by leader, mccarthy, and this conference. By thursday morning, democracy had promised his right wing critics assume of compromises that would significantly weaken his power as speaker, including That would allow a single lawmaker to force of to remove democracy from the job, but even that proved insufficient. Mccarthy still felt as many as Eighteen votes short of what he needed, leaving the house without a leader or the ability to

function accordingly there. How stands adjourned until noon tomorrow on thursday afternoon south carolina supreme court ruled that the states constitution protects the right to an abortion, a ruling that over time the states law banning abortion after roughly six weeks of pregnancy. The ruling is a meat the victory for abortion rights in the american south, where at the end of real verses wade, has severely restricted. access to the procedure to these episode was produced. By Michael Simon Johnson, nina Feldman, Mary wilson and robs. If go, it was edited by lech cd, an empty davis lit, contain the original music by mary marzano, indian power and engineered by Chris. Would our theme music? Is

Well, Jim Rutenberg and Ben landsberg of wonderly The that's it for the daily. I Michael Babar see you on Monday.