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Bala Sundaramoorthy, ex-GM of The Atlanta Journal-Constitution, will become president and COO of Tampa Bay Times' parent on October 1, succeeding Joe DeLuca (Dan Sullivan/Tampa Bay Times)

Mediagazer · last updated

Mediagazer: Bala Sundaramoorthy, ex-GM of The Atlanta Journal-Constitution, will become president and COO of Tampa Bay Times' parent on October 1, succeeding Joe DeLuca (Dan Sullivan/Tampa Bay Times)

Top News:

The Wrap:

Document: Edgar Bronfman Jr.'s Paramount bid is backed by a group of 19 investors including Fortress, Brock Pierce, and producer Steven Paul— Kazakh investor Nurali Aliyev joins Fortress and producer Steven Paul in the last minute $4.3 billion bid — Cryptocurrency mogul Brock Pierce …
Discussion: TVNewsCheck

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Wall Street Journal:

Sources: former Warner Music CEO Edgar Bronfman Jr. has submitted a $4.3B offer for National Amusements and a minority stake in Paramount Global— Bronfman is looking to scuttle a previous agreement to merge Paramount with David Ellison's Skydance Media — Media executive Edgar Bronfman Jr …

Discussion:
The Wrap, New York Post, Front Office Sports, New York Times, Reuters, Ad Age, The Streamable, Lauren Thomas on LinkedIn, Los Angeles Times, The Guardian, Media Play News, Quartz, The Media Leader, Jessica Toonkel on LinkedIn, Music Business Worldwide, Deadline, Variety, Associated Press, The Hollywood Reporter, Next TV and @jeffjarvis@mastodon.social

Discussion:

Alexei Barrionuevo /
The Wrap: Inside the Bronfman Bid for Paramount: No ‘Operational Distractions’ of Skydance Merger, Better for ‘B’ Shareholders | Exclusive

Alexandra Steigrad /
New York Post: Bidding war erupts over Paramount as Edgar Bronfman submits $4.3B competing offer

Eric Fisher /
Front Office Sports: New $4.3 Billion Paramount Bid Puts Future of CBS Sports in the Balance

Dawn Chmielewski /
Reuters: Edgar Bronfman submits rival bid to acquire Paramount Global

Lauren Thomas /
Lauren Thomas on LinkedIn: Breaking overnight on The Wall Street Journal: Media executive Edgar Bronfman Jr. has formally made his play for Shari Redstone's media empire …

Erik Gruenwedel /
Media Play News: Investor Edgar Bronfman Jr. Offers $4.3 Billion Bid For Paramount Global

Rocio Fabbro /
Quartz: Edgar Bronfman wants to buy Paramount for $4.3 billion — and take it away from Skydance

Sabrina Quagliozzi /
The Media Leader: Bronfman challenges Skydance for Paramount control

Jessica Toonkel /
Jessica Toonkel on LinkedIn: NEW: Bronfman's bid for Paramount is in. He matches Skydance in offer for NAI at $1.75 billion in equity and offers around $1.5 billion on Paramount's balance sheet. …

Mandy Dalugdug /
Music Business Worldwide: Edgar Bronfman Jr. makes $4.3bn bid for Paramount, challenging Skydance deal (Report)

Todd Spangler /
Variety: Edgar Bronfman Jr. Makes $4.3 Billion Bid to Take Control of Paramount Global in Challenge to Skydance Deal

Jon Lafayette /
Next TV: Edgar Bronfman Makes $4.3 Billion Bid For Paramount

Axios:
Source: Edgar Bronfman Jr. has raised $5.5B for a bid for National Amusements, and plans to submit a bid higher than his initial $4.3B offer in the coming days

Discussion:
Reuters, AV Club, Financial Times, @sarafischer, Deadline, Gordon Geist on LinkedIn, The Hill, The Desk and The Wrap

Discussion:

Mary Kate Carr /
AV Club: A rogue billionaire enters the Paramount sale conversation

Sara Fischer /
@sarafischer: Scoop: Edgar Bronfman Jr. has raised more $ for his @Paramount bid. Now has up to $5.5B raised —He's hoping to submit new bid if “go-shop” window extended —Money coming from indivs & fam offices like Fortress, BC Partners Advisors, others More on @axios https://www.axios.com/...

Jill Goldsmith /
Deadline: Edgar Bronfman Backers, More Details Emerge In Bid For Paramount That Seeks To Unseat Skydance

Gordon Geist /
Gordon Geist on LinkedIn: Read this to remind yourself that in the world of M&A there is good money and there is not so good money. …

Dominick Mastrangelo /
The Hill: Edgar Bronfman Jr. makes multi-billion dollar bid for Paramount

Matthew Keys /
The Desk: Edgar Bronfman, Jr. submits bid for Paramount Global

Alexei Barrionuevo /
The Wrap: Edgar Bronfman Jr. Makes Last-Minute $4.3 Billion Bid for Paramount

Editor and Publisher:

A draft plan circulating among California lawmakers and media leaders would create a Local News Fund with Google and state money, run by a board at UC Berkeley— Following years of legislative work, a draft deal between Google, Gov. Gavin Newsom and Assemblymember Buffy Wicks …

Discussion:
KQCA-TV, Politico, The Wrap, @stevenwaldman, @mattdpearce, @bcmerchant, @mattdpearce, @researchbuzz@researchbuzz …

Discussion:

Ashley Zavala /
KQCA-TV: Deal set to be announced on journalism and tech in California

Tyler Katzenberger /
Politico: AI initiatives would get $40M annually in draft California journalism bill agreement

Jacob Bryant /
The Wrap: California Lawmakers Set to Scrap Legislation Requiring Big Tech to Pay for News in $172.5 Million Google Settlement | Report

Steven Waldman /
@stevenwaldman: Google, California lawmakers in last-minute negotiations for local news fund | Editor and Publisher https://www.editorandpublisher.com/ ...

Matt Pearce /
@mattdpearce: California's journalists did not ask for this.

Brian Merchant /
@bcmerchant: And to be clear this is not at all what any journalist involved wanted. At all. The opposite in fact — when the News Guild voted to support the original bill it had *nothing* to do with AI and everything to do with making big tech share the gains it made on journalists' backs.

Matt Pearce /
@mattdpearce: Also I guess I should say out loud what everybody believes behind the scenes, which is that the biggest obstacle here to actual monopoly regulation isn't actually Google but Governor Gavin Newsom.

Matt Pearce /
@mattdpearce: If I ran a government accountability newsroom and learned a backroom deal would send taxpayer dollars to Alden Global Capital during a budget crunch, I would have spent the weekend telling my reporters, not my business partners, to contact @BuffyWicks. https://www.politico.com/... [image] @researchbuzz@researchbuzz.masto.host: #Google #California #media #advertising — ‘California leaders are expected to announce a truce has been reached between state lawmakers, tech and some journalism advocates on an effort to provide millions of dollars in funds to local newsrooms across the state.’ — https://www.kcra.com/...

Wired:

Condé Nast makes a multiyear deal with OpenAI, letting ChatGPT and SearchGPT surface stories from The New Yorker, Vogue, Vanity Fair, Bon Appetit, and Wired— The media company joins The Atlantic, Axel Springer, Vox Media, and a host of other publishers who have partnered with OpenAI.

Discussion:

Benjamin Lindsay /
The Wrap: Condé Nast Partners With OpenAI to Let ChatGPT Surface Work From Vanity Fair, Vogue

Todd Spangler /
Variety: Condé Nast Inks Pact With OpenAI, Latest Media Company to License Content to Generative AI Platform

Pradeep Viswanathan /
Neowin: Condé Nast joins the growing list of OpenAI's content partners

Dominick Mastrangelo /
The Hill: Condé Nast partners with OpenAI

Kyle Wiggers /
TechCrunch: OpenAI signs deal to train on Condé Nast content, surface stories in ChatGPT

Pranav Dixit /
Engadget: OpenAI will now use content from Wired, Vogue and The New Yorker in ChatGPT's responses

Sara Fischer /
Axios: OpenAI strikes search deal with Condé Nast

Shirin Ghaffary /
Bloomberg: Condé Nast, OpenAI Strike Multiyear Partnership in New AI Deal

Katie Drummond /
Katie Drummond on LinkedIn: Condé Nast, the publisher of my beloved WIRED and more than a dozen other brands, has finalized a deal with OpenAI. …

Ed Newton-Rex /
@ednewtonrex: @Knibbs The announcement doesn't seem to say what the deal covers - presumably training on Condé Nast's articles? Is that info public?

Kenny Smith /
@kennysmith@mstdn.social: Condé Nast: Let's let the silicon bros eat our lunch! — From: @Mediagazer — https://mstdn.social/...

Edward Ongweso Jr /
@bigblackjacobin: this time will be different! last time, media companies inked deals for new revenue with tech firms that already ate their lunch. this time media companies are inking deals for new revenue with tech firms that hope to eat their lunch!!! https://www.wired.com/... @nyguild: STATEMENT from President @susandecarava on today's announcement that @CondeNast has entered into a deal with @OpenAI: ‘We expect Condé management to be transparent with us about how this technology will be used and the impact it may have on our work.’ More here... [image]

Caitlin Huston /
The Hollywood Reporter: Condé Nast Inks Multiyear OpenAI Deal for Its Magazine Brands

Music Business Worldwide:

The AGs of 10 states join the US DOJ's antitrust lawsuit seeking to break up Live Nation and Ticketmaster; 39 states, plus DC, are now part of the lawsuit— The attorneys general of 10 states have joined the US Department of Justice (DoJ)'s antitrust lawsuit seeking to break off Live Nation …

Discussion:
US Department of Justice, TechCrunch, KOB.com, @justiceatr, @baddcompani, NOLA.com, @pgunigantiat, @tessaduvall, @paulhammelne, @yahoofinance, The Hill, @future_of_music, @edbott.com, KTIV-TV, @agtennessee, Tennessee State Government, Music Ally, 9to5Mac, WOWT-TV, @newyorkstateag, @moetkacik, Fast Company, The Verge, Quartz, Billboard, Rolling Stone and Reuters, more at Techmeme »

Discussion:
US Department of Justice: Ten Additional States Join Justice Department's Suit Against Live Nation-Ticketmaster for Monopolizing Markets Across the Live Concert Industry

Amanda Silberling /
TechCrunch: Thirty-nine state AGs now support Live Nation-Ticketmaster lawsuit

Jonathan Fjeld /
KOB.com: New Mexico joins Justice Department lawsuit against Ticketmaster @justiceatr: Ten Additional States Join Justice Department's Suit Against Live Nation-Ticketmaster for Monopolizing Markets Across the Live Concert Industry 🔗: https://www.justice.gov/... [image]

Julia Guilbeau /
NOLA.com: Louisiana joins massive US Ticketmaster lawsuit before Taylor Swift's New Orleans concerts

Pallavi Guniganti /
@pgunigantiat: Reminder that it's totally possible to bring Section 1 and Section 2 claims in the same complaint.

Tessa Duvall /
@tessaduvall: Per the Tennessee Attorney General's Office, 10 more states have signed on to the lawsuit against Ticketmaster. With 41 plaintiffs, Kentucky is still not one of them. [image] @paulhammelne: Glad to see @mikehilgers NE's attorney general join the U.S. Dept of Justice's lawsuit against @Ticketmaster Anyone out there had a good experience with their fees or services? @yahoofinance: Indiana, Iowa, Kansas, Louisiana, Mississippi, Nebraska, New Mexico, South Dakota, Utah, and Vermont joined the DOJ's lawsuit against Live Nation-Ticketmaster for monopolizing the live concert industry. A total of 39 states, plus Washington D.C., are now suing the company. [image] @future_of_music: Among other things, this demonstrates that taking on monopoly power is a bipartisan issue! The same is true of ticket market regulation: both Democratic and Republican controlled state legislatures have taken action this year to ban speculative tickets!

Ed Bott /
@edbott.com: If you live in one of the 11 states who haven't joined this lawsuit yet, write your AG. — We're looking at you, Alabama, Alaska, Delaware, Georgia, Hawaii, Idaho, Kentucky, Maine, Missouri, Montana, and North Dakota. [embedded post] @agtennessee: Case Update ‼️ Today, TN & the USDOJ welcomed ten additional states to our historic, bipartisan antitrust lawsuit against Live Nation/Ticketmaster — bringing the total number of co-plaintiffs to 41. Read the amended complaint below: ➡️ https://www.tn.gov/... [image] Tennessee State Government: TN AG Welcomes Additional Ten States to Historic Bipartisan Lawsuit Against Ticketmaster

Stuart Dredge /
Music Ally: 10 more states join Justice Department's Live Nation lawsuit

Ny Ag /
@newyorkstateag: 🚨Ring the alarm: As part of our lawsuit against @LiveNation and @Ticketmaster, my office, @TheJusticeDept, and our group of AGs are now seeking money for fans who were overcharged by these companies' illegal monopoly over the concert and live event industry.

Moe Tkacik /
@moetkacik: New tidbit from DOJ's amended complaint against Live Nation/Ticketmaster on ubiquitous mogul Irving “Poison Dwarf” Azoff's ongoing collusion w/ the monopoly: LN paid Azoff's Oak View “significant annual payments” & also “incentive payments” for agreeing to act as its “pimp” [image]

Jessica Bursztynsky /
Fast Company: 10 new states join the monopoly suit against Ticketmaster

Gaby Del Valle /
The Verge: Ticketmaster's nontransferable ‘SafeTix’ are anticompetitive, DOJ suit claims

William Gavin /
Quartz: 10 more states just joined the DOJ's push to break up Live Nation-Ticketmaster

Ethan Millman /
Rolling Stone: 10 More States Join DOJ's Live Nation Monopoly Lawsuit Reuters: More states join antitrust lawsuit against Ticketmaster parent Live Nation, seek triple the damages

The Media Leader:

Paramount says it will rebrand the UK's Channel 5 as just “5” and no longer merge My5 with Pluto TV, as part of plans to relaunch under one name by April 2025— Paramount is rebranding Channel 5 to just 5 as part of plans to relaunch the public-service broadcaster across linear …

Discussion:
The Desk, @sphilsmith, Broadband TV News, @scottygb, Cord Busters, Advanced Television, @thesimonc90, Metro.co.uk, Broadcast, WORLD SCREEN, Deadline and TVNewsCheck

Discussion:

Matthew Keys /
The Desk: Paramount to rebrand Britain's Channel 5 to simply “5”

Phil /
@sphilsmith: I have quite simply lost track of the amount of times this channel has switched between the names ‘5’, ‘Channel 5’ and of course ‘Five’. And it also doesn't matter in the slightest.

Scott Bryan /
@scottygb: BBC iPlayer ITV Player > ITV Hub > ITVX 4OD > All4 > Channel 4 Channel 5 > five > Channel 5 > 5 Dave > U&Dave

Colin Mann /
Advanced Television: Channel 5, My5 relaunching as 5

Kristin Brzoznowski /
WORLD SCREEN: Channel 5 & My5 Streamer To Rebrand As 5

Max Goldbart /
Deadline: Channel 5 & Streamer My5 To Become ... 5

Max Goldbart /
TVNewsCheck: Channel 5 & Streamer My5 To Become ... 5

Tampa Bay Times:

Bala Sundaramoorthy, ex-GM of The Atlanta Journal-Constitution, will become president and COO of Tampa Bay Times' parent on October 1, succeeding Joe DeLuca— Bala Sundaramoorthy, former general manager of the Atlanta Journal-Constitution, will serve as the company's president and chief operating officer.

Discussion:
Editor and Publisher

Variety:

Alex Cooper reaches a multiyear agreement with SiriusXM, replacing Spotify; source: the deal is for a little more than 3 years and is worth as much as $125M— Alex Cooper, host of the popular “Call Her Daddy” podcast, reached a multiyear agreement with SiriusXM that encompasses exclusive programming …

Discussion:

Kerry Flynn /
Axios: Alex Cooper signs with SiriusXM

James Hibberd /
The Hollywood Reporter: Alex Cooper Jumps From Spotify to SiriusXM in Multi-Year Deal

Glenn Peoples /
Billboard: SiriusXM Signs ‘Call Her Daddy’ Host Alex Cooper in Deal Worth Reported $125M

Natalie Wellens /
Natalie Wellens on LinkedIn: Welcome to the SiriusXM family daddy gang! — Unwell Network's powerhouse lineup of Content including Alex Cooper's top-ranking Podcast … Sirius XM Holdings Inc.: SiriusXM Inks New Multi-Year Agreement with Alex Cooper, the World's Leading Female Podcaster; “Call Her Daddy” Finds a New Home

Ashley Carman /
Bloomberg: ‘Call Her Daddy’ Podcast Host Alex Cooper Signs $100 Million Deal With SiriusXM

Sam Gutelle /
Tubefilter: Who's your Daddy? SiriusXM could pay $125 million for exclusive Alex Cooper pact.

Ramishah Maruf /
CNN: Alex Cooper's ‘Call Her Daddy’ podcast is moving to SiriusXM for reportedly nine-figure sum

Leigh Fulton /
Leigh Fulton on LinkedIn: Girls just wanna have fun...with SiriusXM 👯 ♀️ — Welcome Alex Cooper & Alix Earle! — https://lnkd.in/...

Dominick Mastrangelo /
The Hill: SiriusXM inks multiyear deal with ‘Call Her Daddy’ podcaster

Max Tani /
@maxwelltani: Good reminder to read the @semafor media newsletter where we had most of this back in June https://www.semafor.com/... [image]

Adam Chitwood /
The Wrap: Alex Cooper Sets Multiyear Deal With SiriusXM After Spotify Exit

Ashley King /
Digital Music News: SiriusXM Just Poached Spotify's Second Biggest Podcaster In a $100 Million-Plus Deal

Jessica Acosta /
Hollywood Life: ‘Call Her Daddy’ Host Alex Cooper Leaves Spotify and Joins Sirius XM in Multi-Million Dollar Deal

CNN:

Disney says a wrongful death lawsuit can now proceed to court, after initially arguing that the widower's Disney+ trial contract prohibited him from suing— Disney has reversed course on a wrongful death lawsuit brought by the widower of a woman who died after eating at a resort restaurant, saying the matter can now proceed to court.

Discussion:
IndieWire, Ars Technica, The Verge, Inside the Magic, @itsmattslaw@threads.net, Forbes, New York Times, Associated Press, Los Angeles Times, BBC, KHOU-TV, Law & Crime, @discussingfilm, Reuters, @culturecrave, New York Post, The Guardian, @carnage4life, @bajablastoise.bsky.social, @scottgustin, CBR, Daily Mail, Cord Cutters News, @spavel.bsky.social, @cdavidnorris, @privacat.bsky.social, CBS News and Deadline

Discussion:

Proma Khosla /
IndieWire: Everything Coming to Hulu and Disney+ in September 2024

Jon Brodkin /
Ars Technica: Disney abandons Disney+ arbitration defense in restaurant allergy death case

Jess Weatherbed /
The Verge: Disney gives up on trying to use Disney Plus excuse to settle a wrongful death lawsuit

Matt Margolis /
@itsmattslaw@threads.net: When PR gets invited to the meeting with Legal

Mary Whitfill Roeloffs /
Forbes: Disney Won't Block Wrongful Death Lawsuit Because Widower Joined Disney+—Reversing Course After Criticism

Claire Fahy /
New York Times: Disney Backs Down From Effort to Use Disney+ Agreement to Block Lawsuit

Samantha Masunaga /
Los Angeles Times: Disney reverses course on wrongful-death lawsuit, agrees to let case proceed in court

Katrina Morgan /
KHOU-TV: Yes, Disney did argue a wrongful death lawsuit should be dropped in part because the plaintiff had a Disney+ account

Colin Kalmbacher /
Law & Crime: ‘We strive to put humanity above all’: Disney drops arbitration demand over wrongful death lawsuit after woman died from fatal food allergy @discussingfilm: Disney has decided to waive its right to arbitration & allow the matter to proceed in court for the recent wrongful death lawsuit where they attempted to use a widower's Disney+ subscription to arbitrate. “At Disney, we strive to put humanity above all other considerations.” [image] @culturecrave: Disney will waive arbitration in its wrongful death suit They initially sought to dismiss the case by citing the widower's Disney+ subscription — It will now proceed in court “At Disney, we strive to put humanity above all other considerations” [image]

Emily Crane /
New York Post: Disney backtracks on tossing wrongful death lawsuit by NYU doctor's widower because of Disney+ subscription

Anna Betts /
The Guardian: Disney drops streaming waiver defense over woman's allergy death at resort

Dare Obasanjo /
@carnage4life: Disney has given up on making the legal argument that they get to kill your wife if you've ever signed up for Disney Plus. [image] @bajablastoise.bsky.social: important to remember that these numbnuts are the ones making the ultimate direction decisions about the actual creatives' work [embedded post]

Scott Gustin /
@scottgustin: NEW: In a new statement about the Raglan Road wrongful death lawsuit, Disney Experiences Chairman Josh D'Amaro says Disney will waive its right to arbitration and will allow the matter to proceed in court to “expedite a resolution for the family.” Full statement: [image]

Olivia Christie /
Daily Mail: Disney backtracks and agrees to court hearing for lawsuit brought by widower Jeffrey Piccolo whose doctor wife died from a severe allergic reaction at theme park's restaurant

Luke Bouma /
Cord Cutters News: Disney Agrees to Go to Court After Asking Judge to Throw Out a Wrongful Death Lawsuit Because of Disney+'s Terms & Conditions

Pavel /
@spavel.bsky.social: Unsurprisingly the “just because it's a free trial doesn't mean you won't pay with your life” argument didn't make it very far [embedded post]

David Norris /
@cdavidnorris: @DiscussingFilm This was always going to be a losing argument for Disney. They were trying to argue for arbitration to draw out the process and make it more expensive for the widower who was suing them for wrongful death. They waived their “right” to arbitration because of the public backlash.

Carey /
@privacat.bsky.social: Reading the CNN synopsis of Disney's argument is like traveling through the legal upside-down. I cannot believe how insane this argument was, and I'm glad someone representing Disney saw what absolute monsters they were for advancing it. [embedded post]

Jesse Zanger /
CBS News: Disney changes course on wrongful death lawsuit, says it will not seek arbitration

Reuters:

Writers and journalists Andrea Bartz, Charles Graeber, and Kirk Wallace Johnson sue Anthropic, saying it misused their books and others' to train Claude— Artificial intelligence company Anthropic has been hit with a class-action lawsuit in California federal court by three authors …

Discussion:

Matt O'Brien /
Associated Press: Authors sue Claude AI chatbot creator Anthropic for copyright infringement

Webb Wright /
The Drum: Writers' lawsuit against Anthropic highlights tensions between AI developers & artists

Sahil Patel /
The Information: Conde Nast Signs Multi-Year Deal with OpenAI

Winston Cho /
The Hollywood Reporter: New AI Lawsuit From Authors Against Anthropic Targets Growing Licensing Market for Copyrighted Content

Taylor Herzlich /
New York Post: Authors file lawsuit against AI startup Anthropic over copyright infringement

Andrew Albanese /
Publishers Weekly: Authors Sue AI Firm Anthropic for Copyright Infringement

Jonathan Bailey /
Plagiarism Today: 3 Count: And Another One... Have any suggestions for the 3 Count? Let me know via Twitter @plagiarismtoday.

The Nation:

Four journalists discuss how their reporting on Gaza was restricted, bias in newsrooms they worked in, and how being Palestinian impacted their work— There is often a high price to be paid when journalists try to tell Palestinian stories. — Pocket — In the heart of Gaza's ruins …

Discussion:
@sahar_fatima and @jackmirkinson

Discussion:

Sahar Fatima /
@sahar_fatima: Mohammed El-Kurd: “Our death is so quotidian that [Western] journalists report it as though they're reporting the weather. Cloudy skies, light showers, and 3,000 Palestinians dead in the past 10 days. And much like the weather, only God is responsible.” https://www.thenation.com/...

Reuters:

Sources: India's antitrust body reaches an initial assessment that the $8.5B merger of Reliance and Disney harms competition due to their cricket rights— India's antitrust body has reached an initial assessment that the $8.5 billion India merger of Reliance and Walt Disney media assets …

Discussion:
Variety and Aditya Kalra on LinkedIn

Discussion:

Naman Ramachandran /

Related Knowledge Center: Climate economics

State of Play

Climate change is now a driver of the world’s economy. The impact is profound:

  • Catastrophic weather events — hurricanes, floods, droughts, high temperatures — are more frequent and more extreme. The cost can be measured in both the initial damage caused and the longer-term impact on the economy.
  • Vulnerable communities are increasing climate-related investments, hardening infrastructure and taking other protective measures.
  • Investment in carbon capture and storage technologies is increasingly rapidly.
  • Governments are making investments and crafting regulations to reduce emissions of carbon dioxide and other greenhouse gases. 

On top of all of this is the cost of uncertainty. As the Fourth National Climate Assessment, released in 2018 by the U.S. Global Change Research Program, says, “The assumption that current and future climate conditions will resemble the recent past is no longer valid.”

More informationabout Climate economics