Dow Jones and the union that represents journalists at WSJ, Barron's, and MarketWatch reach a tentative agreement on a four-year deal after a year of bargaining (Chris Roush/Talking Biz News)
Mediagazer: Dow Jones and the union that represents journalists at WSJ, Barron's, and MarketWatch reach a tentative agreement on a four-year deal after a year of bargaining (Chris Roush/Talking Biz News)
Top News:
Reuters Institute:
RISJ's 2024 Digital News Report with a survey of 90K+ people: six platforms, like TikTok, reach 10%+ of respondents for news use vs. two a decade ago, more— This year's report comes at a time when around half the world's population have been going to the polls in national and regional elections …
Discussion:
Esther Kezia Thorpe /
Media Voices: 5 things we learned about the state of podcasts from the Digital News Report 2024
Allan Rose Hill /
Boing Boing: 40% of people don't care about the news, survey says
Jeff Jarvis /
@jeffjarvis@mastodon.social: Excellent, as ever, @risj_oxford news report. Interest in news down (UK halved since '15), avoidance up (now 39%). Facebook down 4%. TikTok & news up, beating Twitter (should it really be banned in an election?) Subscription flat & destination strategies borked (should publishers market more?) …
Katherine Pennacchio /
LatAm Journalism Review: Using Facebook for the news in decline and concerns grow over AI's influence on misinformation: Reuters Institute report
Clara Aberneithie /
Press Gazette: Trust in news up slightly in UK but remains lower than global average
Teemu Henriksson /
WAN-IFRA: Digital News Report 2024: Business challenges mount as subscription growth slows
Nic Newman /
Reuters Institute: What do we know about the rise of alternative voices and news influencers in social and video networks?
Dr Amy Ross Arguedas /
Reuters Institute: Public attitudes towards the use of AI in journalism
Dr Richard Fletcher /
Reuters Institute: More than ‘just the facts’: How news audiences think about ‘user needs’
RELATED:
Reuters:
Survey: 52% of US and 63% of UK respondents say they would be uneasy with news produced mostly using AI; 59% worry about false news content online, up 3% YoY— Global concerns about the use of AI in news production and misinformation are growing, a report published by the Reuters Institute …
Discussion:
BBC, Diya Banerjee on LinkedIn, @risj_oxford, Michael Bruton on LinkedIn, Jacob Granger on LinkedIn, Aisling McCabe on LinkedIn, @risj_oxford, National Union of Journalists …, @risj_oxford, Claes de Vreese on LinkedIn, @risj_oxford, Press Gazette, Reuters Institute and
Discussion:
Noor Nanji /
BBC: More people turning away from news, report says
Diya Banerjee /
Diya Banerjee on LinkedIn: The Digital News Report of 2024 is out, and let's dive in. — With vertical video and short-form #content topping the chart in formats, people prefer viewing byte-size news multimedia content. … @risj_oxford: Three headlines: 📱Video platforms are becoming a more important news source 🤖 Most people feel uncomfortable about news made with AI, even with human oversight 💰News subscriptions stall, with a significant % of subscribers paying less than full price https://reutersinstitute.politics.ox.ac .uk/ ...
Michael Bruton /
Michael Bruton on LinkedIn: The Reuters Institute for the Study of Journalism just published the 2024 Digital News Report. — For anyone with an interest in communication, it is a really important read. …
Jacob Granger /
Jacob Granger on LinkedIn: Happy Digital News Report day! The study I look forward to most every year. Huge congratulations to the Reuters Institute for the Study of Journalism team for another incredible body of work …
Aisling McCabe /
Aisling McCabe on LinkedIn: The Reuters Digital News Report is out with lots of information and great insights. Some which stood out for me include: …
@risj_oxford:
1️⃣ We find a further decline in the use of Facebook for news. It's gone from 42% to 26% since 2016 in the 12 markets we've tracked in the last 10 years Our data shows a growing reliance on a range of alternatives including messaging apps and video networks. See the chart below [image]
@risj_oxford:
7️⃣ We find little growth in news subscriptions, with 17% saying they paid for news online. Norway🇳🇴 (40%) and Sweden🇸🇪 (31%) have the highest %, and Japan🇯🇵 (9%) and the UK🇬🇧 (8%) the lowest In many countries we find evidence of heavy discounting. Here's the data for the US [image]
@risj_oxford:
3️⃣ Video is becoming a more important source of online news, especially for the young Short videos are accessed by 66% of our global sample, with longer formats attracting around half (51%). Most people consume news video on online platforms (72%) and not on news sites (22%) [image]
@risj_oxford:
2️⃣ These top line figures hide big geographical differences: -Many still use Facebook for news in 🇵🇭Philippines 🇨🇴Colombia and 🇲🇾Malaysia -TikTok is huge (and growing rapidly) in 🇹🇭Thailand, 🇰🇪Kenya, 🇮🇩Indonesia and other markets of the Global South [image]
@risj_oxford:
8️⃣ 55% of those that are not currently subscribing say that they would pay nothing for online news, with most of the rest prepared to offer just a few dollars per month, when pressed Across markets, 2% of non-payers say that they would pay full price. Figures by market below [image]
@risj_oxford:
6️⃣ As publishers embrace the use of AI, we find widespread public suspicion about how it might be used, especially for ‘hard’ news stories As the chart shows, respondents in the US are much more comfortable about different uses of AI than those in Europe [image]
@risj_oxford:
9️⃣ Trust in the news (40%) has remained stable over the last year, but is still four points lower than it was at the height of COVID-19. Finland🇫🇮 (69%) remains the country with the highest levels of trust, while Greece🇬🇷 and Hungary🇭🇺 (23%) have the lowest levels [image]
@risj_oxford:
4️⃣ The report documents the rise of a new generation of news creators 🇫🇷 A good example is @HugoTravers, who produces explainer videos on TikTok and YouTube and was cited by respondents more often than French legacy publishers @lemondefr or @Le_Figaro. See the tables below [image]
Claes de Vreese /
Claes de Vreese on LinkedIn: It's 🎁 time: the new Digital News Report (2024) is out. An international ‘smorgasbord’ of news consumption patterns …
@risj_oxford:
5️⃣ Concern about online misinformation has risen by 3 points in the last year with 59% saying they are worried about it. The figure is much higher in: 🇿🇦South Africa (81%) and the 🇺🇸US (72%) In terms of platforms, concern is highest for TikTok and X. Figures in the chart below [image]
@risj_oxford:
🔟 High standards, a transparent approach, lack of bias, and fairness in terms of media representation are the 4 primary factors that influence trust The top responses are strongly linked and are consistent across countries, ages, and political viewpoints [image]
@risj_oxford:
Our Digital News Report 2024 is out! 📊 47 markets 🌏 95,000 respondents ✍️ Authored by @nicnewman @richrdfletcher Craig T. Robertson @amyross87 @rasmus_kleis & our partners 📱Explore now https://reutersinstitute.politics.ox.ac .uk/ ... 🧵Findings in thread #DNR24 [image]
Dominic Ponsford /
Press Gazette: Where we get our news in 2024: Social media has become the new global newsstand
Reuters Institute:
Methodology — This study has been commissioned by the Reuters Institute for the Study …
Dr Craig T. Robertson /
Reuters Institute: How much do people pay for online news? And what might encourage more people to pay?
Washington Post:
Sources reveal alleged ties of incoming WaPo editor Robert Winnett to a PI who worked for The Sunday Times, from deceptively obtained material to legal help— Unpublished book drafts and other documents raise questions about Robert Winnett's journalistic record just months before he is to assume a top newsroom role.
Discussion:
NPR, New York Times, The Information, Poynter, Axios, Politico, Breitbart, @jamesrbuk, @bgrueskin, @brianstelter, Media Nation, @mattizcoop, @deggans, The Wrap, @dabeard, Newser, Mediaite, @jamesrbuk, The Guardian, @brianstelter, The Daily Beast, @laurahelmuth@mastodon.social, @bartongellman, @agoldmund, @sulliview, @bgrueskin, @davidfolkenflik, @stevepfarrer, @hshaban, @michaelroston, @brianstelter, @karaswisher, @martyschladen, @isaacstanbecker, @drewharwell@threads.net, @joygarnett@threads.net, @markjacobnews@threads.net, @jessicashortall@threads.net, @jeffjarvis@threads.net, @clancyny.bsky.social, @wynkenhimself.bsky.social, @clancyny.bsky.social and Vanity Fair, more at Techmeme »
Discussion:
David Folkenflik /
NPR: New ‘Washington Post’ chiefs can't shake their past in London
Isabella Ramirez /
Politico: Trump jumps on Washington Post controversy: ‘They ought to clean up their act’
John Nolte /
Breitbart: NYT, WaPo Team Up to Destroy Incoming WaPo Editor
James Ball /
@jamesrbuk: Phone hacking was a huge scandal *in the UK*, exposed by UK journalists. The UK Editors' Code is stronger than US equivalents in some areas, albeit weaker in others. Conflating scandals with normal practice is elitist and, crucially, inaccurate. (2/2)
Brian Stelter /
@brianstelter:
Dan Kennedy /
Media Nation: Subscription woes, public media challenges and the Post's staff bites back
Matthew Cooper /
@mattizcoop: Deus Ex *Merida* ending to @washingtonpost crisis? Wins back staff doesn't solve the existential issues, but neither does “third newsroom.” @deggans: Hmmm. Interesting. Lewis' efforts to damped coverage of this issue may have had the opposite of what he intended.
Natalie Korach /
The Wrap: Washington Post Self-Reports on Its Incoming Top Editor's Involvement With Admitted Information ‘Thief’
David Beard /
@dabeard: Well, at least the @washingtonpost is up front about its No. 1 read story. [image]
John Johnson /
Newser: Washington Post Mess Takes Another Turn
David Gilmour /
Mediaite: Scathing Washington Post Exposé Alleges Incoming Editor Used ‘Thief’ To Aid Reporting
James Ball /
@jamesrbuk: There does seem to be a slight undertone to some coverage on Will Lewis that British journalism operates to markedly lower standards than that of the US. That's an oversimplification at best and just snobbery at worst. (1/2)
Brian Stelter /
@brianstelter: This is exactly what some Post reporters are wishing for: @meridak's return
Dan Ladden-Hall /
The Daily Beast: Furious Trump Seizes Chance to Join Washington Post Pile On
Laura Helmuth /
@laurahelmuth@mastodon.social: The new Washington Post publisher said the old buddy he just hired “will restore an even greater degree of investigative rigor to our organization.” — This story is the Post saying: Oh yeah? I got yer investigative rigor right here https://www.washingtonpost.com/ ...
Barton Gellman /
@bartongellman: This is gutsy and essential for the WP newsroom— accountability journalism about its own CEO and incoming executive editor. It is disheartening that neither one of them will respond —at all — to allegations of grossly unethical behavior. @agoldmund: My favorite shit in the world is when a new big hire is made at a newspaper, and the staff is like “sorry it's a matter of journalistic integrity that we have to report on what a nasty freak you are.” The times would do it more if it had any spine. https://archive.is/XA7MA
Margaret Sullivan /
@sulliview: The vetting is underway now. Here's a @npr's @davidfolkenflik https://www.npr.org/...
Margaret Sullivan /
@sulliview: @NPR ... I guess all this sleaze was no big deal in the ‘faster-paced’ UK press — except, oh yeah, Murdoch had to cough up more than a billion dollars and close down a newspaper!
Margaret Sullivan /
@sulliview: Did anybody bother to vet the new publisher and soon-to-be editor of @washingtonpost or were their British accents enough?
Bill Grueskin /
@bgrueskin: Did Jeff Bezos really pay $250 million so he could have Robert Winnett — an editor with the dodgiest of journalistic ethics — running the Washington Post newsroom? Bezos (and you) should read this @davidfolkenflik piece on the growing crisis at the Post. https://www.npr.org/... [image]
David Folkenflik /
@davidfolkenflik: This weekend marks trifecta for Will Lewis: NYT, NPR and now WaPo A four-reporter WP team drills deep on myriad links between Lewis's choice for WP editor, Rob Winnett, and investigator John Ford, a prince of dark arts of Fleet Street - an impressive tale https://www.washingtonpost.com/ ...
Steve Pfarrer /
@stevepfarrer: And another development: The incoming executive editor of the Washington Post, another Brit, allegedly used material in his reporting pinched by a guy who stole this material from wealthy Brits. What a great new leadership team for the WaPo! https://www.washingtonpost.com/ ...
Hamza Shaban /
@hshaban: Reporters at the Washington Post investigate the connections between the Washington Post's new leadership and a self-described “thief” who was paid to obtain confidential information to help British journalists with their stories. https://www.washingtonpost.com/ ...
Michael Roston /
@michaelroston: Good luck to whomever Winnett appoints his deputy like I wonder how often that person will be like “ok you've gotta leave the meeting now we're going to have a chat about a story we can't discuss with you” https://www.washingtonpost.com/ ...
Brian Stelter /
@brianstelter: The Post team also followed up on the NYT's Saturday reporting about embattled Post publisher/CEO Will Lewis and - incredibly - “Lewis declined to comment through a Post spokesperson in response to a list of detailed questions.”
Brian Stelter /
@brianstelter: So, just to be clear, the Post's newsroom conducted a piercing investigation into potentially unethical press practices, and the publisher of the Post won't answer the newsroom's questions. Neither will the incoming executive editor. https://www.washingtonpost.com/ ...
Brian Stelter /
@brianstelter: For the time being Robert Winnett is still a deputy editor of the Telegraph in London. He is supposed to take charge at the Post this fall. And The Post's reporting team says he “did not respond to a detailed list of questions.”
Kara Swisher /
@karaswisher: Good on the @washingtonpost for covering this shabby excuse for reporting. For much of it (Nazi limos?), the public is, as someone notes, interested, but it is decidedly not in the public interest: https://www.washingtonpost.com/ ...
Marty Schladen /
@martyschladen: What a shiteshow. WaPo scoops alleged unethical practices of its own incoming editor. What in the world is Bezos thinking? Incoming Post editor tied to self-described ‘thief’ who claimed role in his reporting https://www.washingtonpost.com/ ...
Isaac Stanley-Becker /
@isaacstanbecker: Incoming Washington Post editor Robert Winnett tied to self-described ‘thief’ who claimed role in his reporting Gift link: https://www.washingtonpost.com/ ...
Drew Harwell /
@drewharwell@threads.net: Helluva story from some of our newsroom's best https://www.washingtonpost.com/ ...
Joy Amina Garnett /
@joygarnett@threads.net: “At The Post and other major American news organizations, the use of deceptive tactics in pursuit of news stories violates core ethics policies. In Britain, “blagging” — using misrepresentation to dupe others into revealing confidential information — has been a known feature of a certain brand of tabloid journalism, especially before a public reckoning over press ethics began in 2011.”
Mark Jacob /
@markjacobnews@threads.net: Washington Post owner Jeff Bezos has a stark choice. He can either keep unethical UK journalists Will Lewis and Robert Winnett or he can keep the integrity of one of America's most important newspapers. Let's hope he makes the right choice. https://www.washingtonpost.com/ ...
Jessica Shortall /
@jessicashortall@threads.net: This has got to be one of the most exhilarating and terrifying things to push “publish” on https://www.washingtonpost.com/ ...
Jeff Jarvis /
@jeffjarvis@threads.net: Post journos wasting time investigating their own when they should be investigating fascists at the door. My unsolicited advice to Bezos: Fire Lewis' Gang of Four for cause. Rehire Kevin Merida as editor and tech-savvy Craig Forman as CEO. Clean house. Start over. https://www.washingtonpost.com/ ...
Eileen Clancy /
@clancyny.bsky.social: Incredibly bad! — They're talking the omertà of British journalism! No thanks! — “Winnett ... reassured Ford [the thief] that the “remarkable omerta” of British journalism would ensure his clandestine efforts would never come to light.” — The reporters are just being relentless though. …
Sarah Werner /
@wynkenhimself.bsky.social: Fucking terrifying what they're trying to make happen at WaPo with these guys! I have doubts Bezos will back down but wow I hate it
Eileen Clancy /
@clancyny.bsky.social: Incoming Post Editor Tied to Self-Described ‘Thief’ Who Claimed Role in His Reporting — Not CEO William Lewis! Robert Winnett, incoming top editor of the Washington Post. Didn't respond to questions! — Washington Post staff out for blood! 4 bylines! — Gift link: …
Katie Herchenroeder /
Vanity Fair: Washington Post Publisher Will Lewis and Incoming Executive Editor Robert Winnett Used Stolen Records While Reporting in Britain: NYT
RELATED:
The Daily Beast:
A profile of Washington Post CEO Will Lewis, once one of UK's most feted journalists, and a look at the many compromises he's made in pursuit of power— DON'T STOP ME NOW — Lewis, the embattled CEO of the Washington Post, has long sought power and success.
Discussion:
@dankennedy_nu@threads.net, @semaforben, @harrytlambert, Poynter and CNN
Discussion:
Dan Kennedy /
@dankennedy_nu@threads.net: Will Lewis sounds a charmer and a suck-up who sold himself to Patty Stonefiser and Jeff Bezos as tech bro kind of media guy who speaks the language of innovation and disruption. Shame on them for not seeing through it and for failing to do their due diligence. JournalismThreads
Ben Smith /
@semaforben: Some Tina Brown Daily Beast restoration here https://www.thedailybeast.com/ ...
Harry Lambert /
@harrytlambert: I've written a new longread for @thedailybeast - on Bezos, Murdoch, Harry, Dowler and Will Lewis' long thirst for power. https://www.thedailybeast.com/ ...
Tom Jones /
Poynter: Washington Post publisher Will Lewis was more involved in a phone-hacking scandal than previously known
@davidfolkenflik:
Former WaPo Senior Managing Editor Cameron Barr is now overseeing the paper's coverage of the controversies around CEO Will Lewis and next editor Rob Winnett— Update: Former WashPost Senior Managing Editor Cameron Barr is now overseeing the paper's coverage of the controversies besetting publisher Will Lewis and his pick as its next editor, Rob Winnett.
Discussion:
Ben Smith /
@semaforben: When I talked to Barr a couple weeks ago, he was working from the north of England. This is getting complicated ....
Hamza Shaban /
@hshaban: The “third newsroom” at the Washington Post is just stories about Will Lewis and ethically compromised media bosses @chrisgeidner: Cameron Barr, who was most recently in the news for taking responsibility for the Post not running the Alito flag story in 2021: https://www.semafor.com/...
Staci D Kramer /
@sdkstl: Cameron Barr, who left WaPo last year, is the senior editor who shrugged off the Alito flag news in 2021 as “a single-slice story about the flag, because it seemed like the story was about Martha-Ann Alito and not her husband.” https://www.semafor.com/...
Cara Lynch /
@caradox: Great job by management all around. Maybe they should ask the News Guild for tips on leadership and authenticity. Might be a profit in it even.
David Folkenflik /
@davidfolkenflik: Wash Post releases new statement further detailing oversight of coverage of the scandals surrounding publisher Will Lewis and his choice for editor, Rob Winnett, who is to take over in November [image]
Derek Thompson /
@dkthomp: Fuck It We're Adding a Fourth Newsroom [image]
Bill Grueskin /
@bgrueskin: A Fourth Newsroom, if you will
David Corn /
@davidcorndc: Does democracy die if newspapers have to spend too much time reporting on their own internal controversies?
Ben Mullin /
@benmullin: NEW: The Post turns its famously rigorous newsroom on itself. w/@katie_robertson https://www.nytimes.com/...
Heidi N. Moore /
@moorehn: Cameron Barr is English and is the same editor who barred a sexual assault survivor from reporting on any other sexual assaults, and then retaliated against her for years in the newsroom. No ethics. It was inevitable that Lewis would glom onto someone else as dishonest as he
Matt Pearce /
@mattdpearce: The Third Newsroom is just all the people now writing about the new management.
David Freedlander /
@freedlander: Incredible respect for these guys (and their editors) [image]
Dylan Byers /
@dylanbyers: Cameron Barr, who stepped down as Washington Post managing editor last year, is now overseeing the paper's coverage of controversies surrounding the paper's publisher Will Lewis and incoming editor Rob Winnett. “We cover The Washington Post independently, rigorously and fairly,”
James Queally /
@jamesqueallylat: When you have to create a team to cover your publisher's scandals ... perhaps that says something about your choice in publisher.
Ellie Quinlan Houghtaling /
New Republic: Washington Post Now Has a Team Just Covering Its Management Scandals
The Verge:
TikTok expands its Symphony generative AI ad suite with dubbing, stock Digital Avatars based on paid actors, and custom Avatars resembling specific creators— TikTok is introducing some new generative AI tools that aim to help organizations and content creators grow their global audiences …
Discussion:
TikTok, Tubefilter, TikTok For Business, The Information, Digital Trends, MediaPost, Gizmodo, TechCrunch, Ad Age and The Drum, more at Techmeme »
Discussion:
Sam Gutelle /
Tubefilter: TikTok taps creators, brand reps for an AI advisory board called Symphony Collective
Ajay Kumar /
Digital Trends: TikTok is about to change forever
Colin Kirkland /
MediaPost: TikTok Expands Symphony Ad Suite With Digital Avatars, AI Language Dubbing
Aisha Malik /
TechCrunch: TikTok ads and branded content will now include AI avatars of creators and stock actors
Garett Sloane /
Ad Age: TikTok AI avatar ads—how brands and creators can use the new twinning feature
Kendra Barnett /
The Drum: TikTok debuts humanlike AI-generated avatars & language dubbing for brands & creators
Talking Biz News:
Dow Jones and the union that represents journalists at WSJ, Barron's, and MarketWatch reach a tentative agreement on a four-year deal after a year of bargaining— The union that represents journalists at The Wall Street Journal, Barron's and MarketWatch and parent company Dow Jones & Co. announced Monday …
Discussion:
MediaPost, IAPE 1096, @natalieandrews, IAPE 1096, @gzuckerman and @katie_robertson
Discussion:
Ray Schultz /
MediaPost: Union And Dow Jones Agree To A Four-Year Contract
Natalie Andrews /
@natalieandrews: After one year and a day of negotiations... We have a tentative agreement between IAPE and Dow Jones! I'm proud this helps our lowest-paid members and gives every member a salary increase of 8% effective July 1, 2024 More details: https://www.iape1096.org/...
Gregory Zuckerman /
@gzuckerman: Dow Jones and union reach contract deal after year of difficult bargaining. Terms seem reasonable at first blush (says this union member). Nice to move on from this.
Press Gazette:
A look at news influencers in the US, the UK, and France: a majority are mainstream journalists in the UK, much higher YouTube use for news in the US, and more— News influencer trend well-developed in US, but in UK mainstream brands and journalists leave less of a gap.
Variety:
NBCU partners with Group Black, a collective focused on Black-owned and Black-produced media, to launch multicultural content hub E!+ on Peacock— NBCUniversal is tapping an outside company to help it bring a broader array of viewers and advertisers under its media tent.
Discussion:
Cavel Khan /
Cavel Khan on LinkedIn: Let's go!!! Excited to partner with NBCU to bring new opportunities for content creators and brands.
Jeff Swierk /
Jeff Swierk on LinkedIn: Proud to announce. E!+ the premier streaming content hub for diverse voices on Peacock. Let's Go...
Morgan Wilkinson /
Morgan Wilkinson on LinkedIn: So excited for this chapter. I have always been passionate about story telling and the many ways that I can be a part of telling nuanced and diverse stories on a wider scale. …
Financial Times:
The Cannes Lions ad festival adds humor as an award category, highlighting the importance of a “human connection” in ads, as AI struggles to create funny ads— New humour category highlights ‘human connection’ in a sector beset by a crisis in creativity
Discussion:
Cynthia Littleton /
Variety: UTA and MediaLink Go Big on Digital Creators, Gen Z Marketers at Cannes Lions as New Leaders Take Reins
Liza Foreman /
The Wrap: Cannes Lions Launches With Focus on Sports, Streaming, AI
The Wrap:
Sources: 25 unionized staffers at The Daily Beast took buyouts, equivalent to ~70% of the guild, including almost all of the outlet's senior staffers— The Daily Beast is gutting its senior editorial team after implementing voluntary buyouts last month, with nearly 70% of unionized staffers leaving the outlet, TheWrap has learned.
Discussion:
@willsommer and @nataliekorach
Discussion:
Will Sommer /
@willsommer: Media news: The Daily Beast buyout results are in, and they're just about gutting the site. 25 (or 70%) of unionized staffers took the buyouts, including nearly all of the most senior journalists. Meanwhile, non-union editors expect to face a round of firings at end of the month.
Reuters:
Naver-owned online comics platform Webtoon aims to raise up to $315M in a US IPO, offering shares for $18 to $21 each and targeting an up to $2.67B valuation— Online comics platform Webtoon Entertainment said on Monday it is targeting a valuation of up to $2.67 billion in its initial public offering in the United States.
Discussion:
Related Knowledge Center: Climate economics
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.”