Foreign companies have incurred over $107 billion in losses due to their exit from Russia following its invasion of Ukraine, with losses increasing by one-third since August last year. The exit has led to a significant loss of Western expertise in Russia's economy. President Putin's re-election has led to a mandate for further isolation from the West, with Moscow demanding steep discounts on foreign asset sales and tightening exit requirements. Western nations have frozen $300 billion of Russia's reserves, and Germany has nationalized key Russian energy assets. Russia has threatened retaliation against EU proposals to redistribute interest earned on its frozen assets. Western companies, including Shell, HSBC, and Danone, have announced asset sales at substantial discounts, while others like Auchan and Benetton continue to operate in Russia. The West risks losing $288 billion in assets and investments if Russia retaliates. The exit of foreign firms has also resulted in the loss of high-tech capabilities within Russia.

Foreign companies have incurred over $107 billion in losses due to their exit from Russia following its 2022 invasion of Ukraine. The financial impact has grown by a third since last year, highlighting the significant economic consequences and the loss of Western expertise in Russia. Companies like Shell, HSBC, and Danone have faced substantial writedowns, while others like Auchan and Benetton continue to operate in Russia. Moscow's stringent exit requirements and retaliatory measures against Western sanctions have further complicated the situation. The ongoing conflict and sanctions have led to a significant exodus of meaningful technologies and expertise from Russia, potentially harming its high-tech production capabilities.

Foreign companies have incurred over $107 billion in losses due to their exit from Russia following the 2022 invasion of Ukraine, with losses increasing by one-third since August last year. The exit has led to a significant loss of Western expertise in Russia's economy. Companies like Shell, HSBC, and Danone have sold assets at steep discounts or taken substantial losses. Western nations have frozen Russian assets, and Germany has nationalized Russian energy assets. Russia threatens retaliation against EU proposals to use its frozen assets. Legal experts suggest that Western companies are unlikely to return to Russia post-conflict, indicating long-term economic damage. Restrictions on selling shares in key sectors without presidential approval remain, while some companies continue to operate in Russia, citing the reliance of Russian citizens on their products.

Italy's highest court has exonerated the late Argentine soccer icon Diego Maradona from tax evasion charges, concluding a legal dispute that spanned three decades. The court overturned a 2018 verdict that had implicated Maradona in using companies in Liechtenstein to avoid taxes on image rights income from Napoli club between 1985 and 1990. Maradona's lawyer, Angelo Pisani, proclaimed the verdict as a vindication of Maradona's legacy, highlighting the possibility for his heirs to seek damages.

Electric cars represented nearly half of all new passenger car registrations in the EU from January to November 2023, with a significant increase in November alone. Electrified vehicles, including fully electric, plug-in hybrids, and full hybrids, made up over 47.6% of new registrations, marking a growth from the previous year. The EU saw a 6.7% increase in new-car registrations in November, with electric vehicles rising by 13.3%. Hybrid-electric vehicles were preferred over plug-in hybrids. The ACEA highlighted the risk of Europe's EV sector falling behind without a robust EU industrial strategy, amid competition from China and the U.S. Car makers like Volkswagen and Renault saw registration increases, while Stellantis experienced a decline. Tesla, led by Elon Musk, saw a 45% jump in registrations. The ACEA also noted the overall growth of new vehicle registrations in the EU, Britain, and the EFTA.

Electric cars represented nearly half of all new passenger car registrations in the EU from January to November 2023, with a significant increase in November alone. Electrified vehicles, including fully electric, plug-in hybrids, and full hybrids, made up over 47.6% of new registrations. The European Automobile Manufacturers Association highlighted a 13.3% year-on-year rise in electric vehicle registrations, despite a drop in Germany's EV market. Hybrid-electric vehicles saw a surge in demand, while plug-in hybrids declined. The ACEA warned that Europe's EV sector could fall behind without a robust EU industrial strategy, amid competition from China and the U.S. Car makers like Volkswagen and Renault saw registration growth, while Stellantis experienced a decline. Tesla, led by Elon Musk, had a 45% jump in registrations, accounting for nearly 22% of fully electric car registrations in the EU.

Electric cars represented nearly half of all new passenger car registrations in the EU from January to November 2023, with a significant increase in electrified vehicles to over 47.6%. The EU saw a 6.7% increase in new-car registrations in November, marking the 16th consecutive month of growth. Fully electric car registrations rose by 16.4%, while hybrid-electric vehicles saw a surge of 28.7%. However, plug-in hybrids experienced a decline of 22.1%. Despite the growth, concerns have been raised about Europe's EV sector potentially falling behind due to China's supply chain dominance and U.S. incentives. Car makers like Volkswagen and Mercedes-Benz have noted a plateau in demand and market challenges. Tesla saw a 45% jump in registrations in November, accounting for nearly 22% of fully electric car registrations in the EU.

Electric cars represented nearly half of all new passenger car registrations in the EU from January to November 2023, with a significant increase in electrified vehicles to over 47.6%. The European Automobile Manufacturers Association highlighted a 6.7% increase in new-car registrations in November, marking the 16th consecutive month of growth. Fully electric car registrations rose by 16.4%, despite a decline in Germany's EV market. Hybrid-electric vehicles saw a surge in demand, while plug-in hybrids declined. The ACEA warned that Europe's EV sector could fall behind without a robust EU industrial strategy, amid competition from China and the U.S. Car makers like Volkswagen and Renault saw registration increases, while Stellantis experienced a drop. Tesla's registrations jumped by almost 45% in November. The overall number of new vehicles registered in the EU, Britain, and the EFTA in November grew by 6%.

Electric cars represented nearly half of all new passenger car registrations in the EU from January to November 2023, with a significant increase in electrified vehicle sales. The European Automobile Manufacturers Association reported a 47.6% share for electrified vehicles, a rise from the previous year. The growth trend continued for the 16th consecutive month, with electric vehicle registrations up by 13.3%. Hybrid-electric vehicles saw the highest demand, while plug-in hybrids declined. Despite the growth, concerns about the European EV sector's competitiveness were raised, citing China's supply chain dominance and U.S. incentives. Car makers like Volkswagen and Mercedes-Benz noted a demand plateau and market challenges. Tesla experienced a 45% jump in registrations in November, while Stellantis saw a 7.3% drop.

Electric cars represented nearly half of all new passenger car registrations in the EU from January to November 2023, with a significant increase in November alone. Electrified vehicles, including fully electric, plug-in hybrids, and full hybrids, made up over 47.6% of new registrations, marking a growth from the previous year. Despite this, the European Automobile Manufacturers Association highlighted the risk of Europe's EV sector falling behind without a strong EU industrial strategy, amid competition from China and the US. Car makers like Volkswagen and Renault saw registration increases, while Stellantis experienced a decline. Tesla, led by Elon Musk, saw a nearly 45% jump in registrations for November.

Sales of electric cars in the European Union accounted for nearly half of all new passenger car registrations between January and November 2023, with a significant increase in November alone. Electrified vehicles, including fully electric, plug-in hybrids, and full hybrids, made up 47.6% of new registrations, up from 43% the previous year. Despite the growth, the European Automobile Manufacturers Association (ACEA) warned that the EU's EV sector risks falling behind without a robust industrial strategy. Major car makers like Volkswagen and Renault saw increases in registrations, while Stellantis experienced a decline. Tesla recorded a substantial 45% jump in registrations, capturing nearly 22% of the fully electric car market in the EU.

Sales of electric cars in the European Union accounted for nearly half of all new passenger car registrations between January and November 2023, with a significant increase in November alone. Electrified vehicles, including fully electric, plug-in hybrids, and full hybrids, made up 47.6% of new registrations, up from 43% the previous year. Despite the growth, the European Automobile Manufacturers Association (ACEA) warned that the EU's EV sector risks falling behind without a robust industrial strategy. Major car makers like Volkswagen and Tesla saw significant increases in registrations, while others like Stellantis experienced declines. The ACEA highlighted concerns about supply chain dominance by China and competitive pressures from U.S. incentives.

Sales of electric cars in the European Union accounted for nearly half of all new passenger car registrations between January and November 2023, with a significant increase in November alone. Electrified vehicles, including fully electric, plug-in hybrids, and full hybrids, made up 47.6% of new registrations, up from 43% the previous year. Despite the growth, the European Automobile Manufacturers Association (ACEA) warned that the EU's EV sector risks falling behind without a robust industrial strategy. Major car makers like Volkswagen and Mercedes-Benz have noted challenges in EV demand and market conditions. Tesla saw a substantial increase in registrations, while other brands like Renault and Stellantis had mixed results.

Electric vehicles represented nearly half of all new passenger car registrations in the EU from January to November 2023, with a significant increase in November alone. Electrified vehicles, including fully electric, plug-in hybrids, and full hybrids, accounted for over 47.6% of new registrations, marking a growth from the previous year. Despite this rise, the European Automobile Manufacturers Association highlighted the risk of Europe's EV sector falling behind without a robust EU industrial strategy, amid competition from China and the US. Car makers and analysts have noted a potential plateau in EV demand, with Volkswagen and Mercedes-Benz expressing concerns over market challenges. In November, Volkswagen and Renault saw registration increases, while Stellantis experienced a decline. Tesla, led by Elon Musk, saw a nearly 45% jump in registrations, comprising 22% of fully electric car registrations in the EU.

Electric cars represented nearly half of all new passenger car registrations in the EU from January to November 2023, with a significant increase in electric vehicle registrations. Despite this growth, the European Automobile Manufacturers Association (ACEA) expressed concerns about Europe's EV sector potentially falling behind due to China's supply chain dominance and U.S. incentives. The demand for electric vehicles has shown signs of plateauing, with Volkswagen and Mercedes-Benz noting unexpected developments and market challenges. Tesla, however, saw a 45% increase in registrations in November. Overall, new-car registrations in the EU rose by 6.7% in November.

Electric vehicles accounted for nearly half of all new passenger car registrations in the EU from January to November 2023, with a notable increase in November. Despite the growth, the European Automobile Manufacturers Association (ACEA) warns that the EU's EV sector risks falling behind without a robust industrial strategy. Volkswagen and Renault saw registration increases, while Stellantis experienced a decline. Tesla recorded a significant jump in registrations, making up nearly 22% of fully electric car registrations in the EU. The market shows a preference for hybrid-electric vehicles, though demand for plug-in hybrids has declined.

Sales of electric cars in the European Union accounted for nearly half of all new passenger car registrations between January and November 2023, with a significant increase in November alone. Electrified vehicles, including fully electric, plug-in hybrids, and full hybrids, made up 47.6% of new registrations, up from 43% the previous year. Despite the growth, the European Automobile Manufacturers Association (ACEA) warned of potential challenges due to competition from China and U.S. incentives. Volkswagen and Renault saw increases in registrations, while Tesla recorded a substantial 45% jump. However, Mercedes-Benz and Stellantis faced challenges, with the former citing a tough market and the latter experiencing a drop in registrations.

Electric vehicles accounted for nearly half of all new passenger car registrations in the EU from January to November 2023, with a notable increase in November. Fully electric, plug-in hybrids, and full hybrids made up 47.6% of new registrations, up from 43% the previous year. Despite the growth, the European Automobile Manufacturers Association warned of potential setbacks without a robust EU industrial strategy. Volkswagen and Mercedes-Benz highlighted challenges in EV demand and market conditions, while Tesla saw a significant rise in registrations. The overall market saw a 6.7% increase in new-car registrations in November.

Electric car sales in the EU represented nearly half of all new passenger car registrations from January to November 2023, with a significant increase in November alone. Electrified vehicles, including fully electric, plug-in hybrids, and full hybrids, made up over 47.6% of new registrations, marking a continuous growth trend. Despite this, the European Automobile Manufacturers Association warns that Europe's EV sector could lag behind without a strong EU industrial strategy, especially given China's supply chain dominance and U.S. incentives. Car makers like Volkswagen and Mercedes-Benz have noted challenges such as unexpected demand plateaus and a tough market environment. Tesla, however, saw a nearly 45% increase in registrations in November.

Sales of electric cars in the European Union accounted for nearly half of all new passenger car registrations between January and November 2023, with a significant increase in November alone. Electrified vehicles, including fully electric, plug-in hybrids, and full hybrids, made up 47.6% of new registrations, up from 43% the previous year. Despite the growth, the European Automobile Manufacturers Association (ACEA) warned that the EU's EV sector risks falling behind without a robust industrial strategy. Major car manufacturers like Volkswagen and Tesla saw significant increases in registrations, while others like Stellantis experienced declines. The ACEA highlighted concerns over supply chain dominance by China and competitive pressures from U.S. incentives.

Sales of electric cars in the European Union accounted for nearly half of all new passenger car registrations between January and November 2023, with a significant increase in November alone. Electrified vehicles, including fully electric, plug-in hybrids, and full hybrids, made up 47.6% of new registrations, up from 43% the previous year. Despite the growth, the European Automobile Manufacturers Association (ACEA) warned that the EU's EV sector risks falling behind without a robust industrial strategy. Major car makers like Volkswagen and Renault saw increases in registrations, while Stellantis experienced a decline. Tesla recorded a substantial 45% increase in registrations, capturing nearly 22% of the fully electric car market in the EU. The overall number of new vehicles registered in the EU, Britain, and the European Free Trade Association grew by 6% in November.

Sales of electric cars in the European Union accounted for nearly half of all new passenger car registrations between January and November 2023, with a significant increase in November alone. Electrified vehicles, including fully electric, plug-in hybrids, and full hybrids, made up 47.6% of new registrations, up from 43% the previous year. Despite a rise in electric vehicle registrations, some car makers like Volkswagen and Mercedes-Benz have noted a plateau in demand and market challenges. Tesla saw a significant increase in registrations, making up nearly 22% of fully electric car registrations in the EU. The European Automobile Manufacturers Association highlighted the need for a robust EU industrial strategy to compete with other regions. Registrations in the EU, Britain, and the European Free Trade Association grew by 6% in November.

Sales of electric cars in the European Union accounted for nearly half of all new passenger car registrations between January and November 2023, with a significant increase in November alone. Electrified vehicles, including fully electric, plug-in hybrids, and full hybrids, made up 47.6% of new registrations, up from 43% the previous year. Despite the growth, the European Automobile Manufacturers Association (ACEA) warned that the EU's EV sector risks falling behind without a robust industrial strategy. Major car makers like Volkswagen and Mercedes-Benz have noted challenges in the EV market, including a plateau in demand and supply-chain issues. Tesla saw a significant increase in registrations, making up nearly 22% of fully electric car registrations in the EU.

Sales of electric cars in the European Union accounted for nearly half of all new passenger car registrations between January and November 2023, with a significant increase in November alone. Electrified vehicles, including fully electric, plug-in hybrids, and full hybrids, made up 47.6% of new registrations, up from 43% the previous year. Despite the growth, the European Automobile Manufacturers Association (ACEA) warned of potential challenges due to competition from China and U.S. incentives. Volkswagen and Renault saw increases in registrations, while Stellantis experienced a decline. Tesla recorded a substantial rise, making up nearly 22% of fully electric car registrations in the EU.

Sales of electric cars in the European Union accounted for nearly half of all new passenger car registrations between January and November 2023, with a significant increase in November alone. Electrified vehicles, including fully electric, plug-in hybrids, and full hybrids, made up 47.6% of new registrations, up from 43% the previous year. Despite the growth, the European Automobile Manufacturers Association (ACEA) warned that the EU's EV sector risks falling behind without a robust industrial strategy. Major car makers like Volkswagen and Tesla saw significant increases in registrations, while others like Stellantis experienced declines. The market dynamics indicate a preference for hybrid-electric vehicles, though some manufacturers report a plateau in EV demand.

Sales of electric cars in the European Union accounted for nearly half of all new passenger car registrations between January and November 2023, with a significant increase in November alone. Electrified vehicles, including fully electric, plug-in hybrids, and full hybrids, made up 47.6% of new registrations, up from 43% the previous year. Despite the growth, the European Automobile Manufacturers Association (ACEA) warned of potential challenges due to competition from China and U.S. incentives. Major car manufacturers like Volkswagen and Tesla saw varying performance, with Tesla recording a significant increase in registrations.

Electric vehicles accounted for nearly half of all new passenger car registrations in the EU from January to November 2023, with a significant increase in November alone. Fully electric, plug-in hybrids, and full hybrids made up 47.6% of new registrations, up from 43% the previous year. Despite a rise in electric vehicle registrations, concerns about the EU's EV sector lagging behind other regions were highlighted, with calls for a robust EU industrial strategy. Volkswagen and Renault saw increases in registrations, while Stellantis experienced a decline. Tesla recorded a significant 45% increase in registrations, capturing nearly 22% of the fully electric car market in the EU.

Sales of electric cars in the European Union accounted for nearly half of all new passenger car registrations between January and November 2023, with a significant increase in November alone. Electrified vehicles, including fully electric, plug-in hybrids, and full hybrids, made up 47.6% of new registrations, up from 43% the previous year. Despite the growth, the European Automobile Manufacturers Association (ACEA) warned of potential challenges due to competition from China and U.S. incentives. Volkswagen and Renault saw increases in registrations, while Tesla recorded a substantial 45% jump. However, Mercedes-Benz and Stellantis faced challenges, with the former warning of a tough EV market.

Sales of electric cars in the European Union accounted for nearly half of all new passenger car registrations between January and November 2023, with a significant increase in November alone. Electrified vehicles, including fully electric, plug-in hybrids, and full hybrids, made up 47.6% of new registrations, up from 43% the previous year. Despite the growth, the European Automobile Manufacturers Association (ACEA) warned that the EU's EV sector risks falling behind without a robust industrial strategy. Major car makers like Volkswagen and Renault saw increases in registrations, while Stellantis experienced a decline. Tesla recorded a substantial 45% jump in registrations, capturing nearly 22% of the fully electric car market in the EU.

Sales of electric cars in the European Union accounted for nearly half of all new passenger car registrations between January and November 2023, with a significant increase in November alone. Electrified vehicles, including fully electric, plug-in hybrids, and full hybrids, made up 47.6% of new registrations, up from 43% the previous year. Despite the growth, the European Automobile Manufacturers Association (ACEA) warned that the EU's EV sector risks lagging behind without a robust industrial strategy. Major car manufacturers like Volkswagen and Mercedes-Benz have expressed concerns about the plateauing demand and market challenges. Tesla saw a substantial increase in registrations, while other brands like Renault and Stellantis had mixed results.

Sales of electric cars in the European Union accounted for nearly half of all new passenger car registrations between January and November 2023, with a significant increase in November alone. Electrified vehicles, including fully electric, plug-in hybrids, and full hybrids, made up 47.6% of new registrations, up from 43% the previous year. Despite the growth, the European Automobile Manufacturers Association (ACEA) warned of potential challenges due to competition from China and U.S. incentives. Major car manufacturers like Volkswagen and Tesla saw significant increases in registrations, while others like Mercedes-Benz and Stellantis faced challenges. The ACEA emphasized the need for a robust EU industrial strategy to maintain competitiveness in the EV sector.

Electric vehicles accounted for nearly half of all new passenger car registrations in the EU from January to November 2023, with a significant increase in November alone. Fully electric, plug-in hybrids, and full hybrids made up 47.6% of new registrations, up from 43% the previous year. Despite the growth, the European Automobile Manufacturers Association (ACEA) warned that the EU's EV sector risks falling behind without a robust industrial strategy. Volkswagen and Renault saw increases in registrations, while Stellantis experienced a decline. Tesla saw a substantial rise, making up nearly 22% of fully electric car registrations in the EU.

Low-income countries face challenges in accessing insurance and catastrophe bonds to mitigate economic impacts of climate change. COP28 in Dubai aims to address this by financing a climate disaster fund and facilitating lending structures. Multilateral lenders and wealthy nations are working to expand protection, with the European Bank for Reconstruction and Development planning to offer disaster clauses in loans. Global insured losses from natural catastrophes reached $50 billion in the first half of 2023. Risk pools and catastrophe bonds are among the financial tools discussed, with Mexico likely receiving a payout from a bond after Hurricane Otis. The UN-led loss and damage fund could provide vital funding for vulnerable countries.

Low-income countries face significant challenges in accessing insurance and other financial mechanisms to mitigate the economic impacts of climate change. COP28 in Dubai aims to address these issues by promoting a special climate disaster fund and other lending structures. Despite political and financial hurdles, efforts to expand protection are crucial for vulnerable nations. The European Bank for Reconstruction and Development and other multilateral organizations are proposing innovative solutions like disaster clauses in loans. The UN-led loss and damage fund could provide essential support, with ongoing discussions on scaling up climate protection measures.

Low-income countries face significant challenges in accessing insurance and financial mechanisms to mitigate the economic impacts of climate change. COP28 in Dubai aims to address these issues by promoting a special climate disaster fund and other financial structures. Multilateral lenders and rich nations are working to finance these initiatives, though progress is slow and politically complex. The European Bank for Reconstruction and Development and other organizations are proposing innovative solutions like disaster clauses in loans. The UN-led loss and damage fund, approved at COP28, could provide crucial support for vulnerable nations. However, the high debt burdens and rising costs of natural catastrophes remain significant obstacles.

Low-income countries face significant challenges in accessing insurance and other financial mechanisms to mitigate the economic impacts of climate change. COP28 in Dubai aims to address these issues by promoting a special climate disaster fund and other lending structures. Multilateral lenders and rich nations are working to finance these initiatives, though progress is slow and politically complex. The European Bank for Reconstruction and Development plans to offer disaster-related debt reprofiling clauses, and the UN-led loss and damage fund could provide crucial support. Despite rising global insured losses, efforts to expand financial protection for vulnerable nations continue.

Low-income countries face significant challenges in accessing insurance and other financial mechanisms to mitigate the economic impacts of climate change. During COP28 in Dubai, efforts are being made to finance a special climate disaster fund and offer disaster clauses in new loans to protect vulnerable nations. Despite political and financial hurdles, expanding protection is crucial for these countries. The European Bank for Reconstruction and Development and other multilaterals are proposing measures to bolster resilience. The UN-led loss and damage fund, approved at COP28, could provide essential funding for the most vulnerable countries.

Low-income countries face significant challenges in accessing insurance and other financial mechanisms to mitigate the economic impacts of climate change. During COP28 in Dubai, efforts are being made to finance a special climate disaster fund and offer disaster clauses in new loans to protect vulnerable nations. Despite political and logistical difficulties, expanding financial protection is crucial for these countries. The European Bank for Reconstruction and Development and other multilaterals are proposing new financial structures, while the UN-led loss and damage fund could provide essential support. Global insured losses from natural catastrophes highlight the urgent need for such measures.

Low-income countries face significant challenges in accessing insurance and other financial mechanisms to mitigate the economic impacts of climate change. During COP28 in Dubai, efforts are being made to address these issues through the establishment of a climate disaster fund and other financial structures. Multilateral lenders and wealthy nations are working to provide financial support and innovative lending solutions to protect vulnerable nations from extreme weather events. Despite the slow and complex nature of these efforts, the approval of the climate disaster fund marks a positive step. Various financial tools, such as catastrophe bonds and risk pools, are being explored to offer quicker payouts in the event of disasters. However, the high debt burdens of many low-income countries complicate access to these protections. The European Bank for Reconstruction and Development and other organizations are proposing measures to enhance resilience and spur private sector involvement. The UN-led loss and damage fund could also play a crucial role in providing necessary funding for the most vulnerable countries.

Low-income countries face significant challenges in accessing insurance and other financial mechanisms to mitigate the economic impacts of climate change. During COP28 in Dubai, efforts are being made to address these issues, including the approval of a climate disaster fund. Multilateral lenders and wealthy nations are working to finance this fund and offer disaster clauses in new loans. Despite the slow and politically challenging process, expanding financial protection is crucial for vulnerable nations. The European Bank for Reconstruction and Development and other organizations are proposing innovative solutions to bolster resilience. The UN-led loss and damage fund could provide essential support, with ongoing discussions on its implementation.

Low-income countries face challenges accessing financial protection against climate risks, such as insurance and catastrophe bonds. COP28 in Dubai aims to address this by financing a climate disaster fund and facilitating lending structures. Multilateral lenders and wealthy nations are working to provide support, although progress is slow and complex. The European Bank for Reconstruction and Development is introducing disaster clauses in loans, and risk pools are being considered. The first half of 2023 saw $50 billion in insured losses from natural catastrophes, highlighting the need for better financial protection. The UN-led loss and damage fund, approved at COP28, could offer significant support for vulnerable countries.

Low-income countries face significant challenges in accessing insurance and other financial mechanisms to mitigate the economic impacts of climate change. During COP28 in Dubai, efforts are being made to finance a special climate disaster fund and offer disaster clauses in new loans to protect vulnerable nations. Despite the slow and politically complex process, expanding financial protection is crucial for emerging countries. The European Bank for Reconstruction and Development plans to offer automatic debt reprofiling clauses in sovereign loans, while the UN-led loss and damage fund could provide essential funding. Global insured losses from natural catastrophes reached $50 billion in the first half of 2023, highlighting the urgent need for better financial protection mechanisms.

Low-income countries face significant challenges in accessing insurance and other financial mechanisms to mitigate the economic impacts of climate change. During COP28 in Dubai, efforts are being made to finance a special climate disaster fund and offer disaster clauses in new loans to protect vulnerable nations. Despite political and financial hurdles, expanding protection is crucial for these countries. The European Bank for Reconstruction and Development and other multilaterals are proposing measures to bolster resilience. The UN-led loss and damage fund, approved at COP28, could provide essential funding for the most vulnerable countries.

Low-income countries face difficulties accessing financial protection against climate change impacts, such as insurance and catastrophe bonds. COP28 in Dubai aims to address this by financing a climate disaster fund and facilitating lending structures. Multilateral lenders and wealthy nations are working to provide support, although progress is slow and complex. The European Bank for Reconstruction and Development is introducing disaster clauses in loans, and risk pools are being considered. The first half of 2023 saw $50 billion in insured losses from natural catastrophes, highlighting the urgency. The UN-led loss and damage fund could offer significant support for vulnerable countries.

Low-income countries face significant challenges in accessing insurance and other financial mechanisms to mitigate the economic impacts of climate change. During COP28 in Dubai, efforts are being made to finance a special climate disaster fund and offer disaster clauses in new loans to protect vulnerable nations. Despite political and financial hurdles, expanding protection is crucial for emerging countries. The European Bank for Reconstruction and Development and other multilaterals are proposing new financial structures, while the UN-led loss and damage fund could provide essential support. Global insured losses from natural catastrophes highlight the urgent need for better financial protection mechanisms.

Electric cars represented nearly half of all new passenger car registrations in the EU from January to November 2023, with a significant increase in November alone. Electrified vehicles, including fully electric, plug-in hybrids, and full hybrids, made up over 47.6% of new registrations, marking a rise from the previous year. The European Automobile Manufacturers Association highlighted a 13.3% year-on-year increase in electric vehicle registrations, despite a decline in Germany's EV market. Hybrid-electric vehicles saw a surge in demand, while plug-in hybrids experienced a decline. The ACEA warned that Europe's EV sector could fall behind without a strong EU industrial strategy, as car makers and analysts note a potential demand plateau for EVs. Tesla saw a 45% jump in registrations in November, contributing to a 6% increase in new vehicle registrations across the EU, Britain, and the EFTA.

Pope Francis has called for a global ban on surrogacy, describing it as a grave violation of the dignity of women and children. His remarks, made during a 45-minute address to Vatican-accredited diplomats, are expected to antagonize pro-LGBTQ+ groups. Francis also reaffirmed the Vatican's condemnation of gender theory, labeling it as extremely dangerous. The call for a ban on surrogacy aligns with Italy's current legal stance, where surrogacy is illegal, and the right-wing government is pushing to extend the ban to couples who seek the procedure abroad.