Jeff Gitterman, Managing Director at Gitterman Asset Management, joins Remy Blaire to discuss the alarming acceleration of global warming, as highlighted by a recent paper in Geophysical Research Letters, which reveals that the earth has warmed over 0.6 degrees Fahrenheit between 2015 and 2025—the highest rate for any decade on record.
Jeff explains that the last decade has seen warming rates double those of previous decades, raising concerns about the role of shipping aerosols and their impact on cloud cover and ocean temperatures. He emphasizes that the earth is nearing its capacity to absorb carbon, which could lead to accelerated warming and more severe weather events.
We also explore the issue of rising sea levels and the need for multi-layered solutions to address coastal erosion and flooding. Jeff points out that while some natural solutions exist, such as building parks and using plants to slow wave action, a comprehensive approach is necessary.
On a global scale, we discuss the effectiveness of current policy frameworks, noting that while some countries, like China, are making strides in renewable energy, overall frameworks have not yielded the desired results.
Shifting gears, we address the current situation in the Middle East, particularly the Iran conflict and its implications for oil prices. Jeff expresses concerns about the potential for oil prices to rise significantly if the conflict continues, which could have a ripple effect on the U.S. economy, especially as we approach the summer travel season.
