Seven of nine planetary boundaries breached, and other nature and climate stories you need to read this week

Scientists have issued a red alert for the health of the planet, in a first-of-its-kind report.

There are nine key systems and processes that contribute to stable, healthy life on Earth for all organisms, according to the report's authors at the Potsdam Institute for Climate Impact Research.

At present, six of them have crossed the threshold to a point where they are deemed to not be able to function properly.

Just three planetary boundaries remain within the "safe operating space": ocean acidification; atmospheric aerosol loading; and stratospheric ozone depletion.

Coinciding with the general debate of the 79th UN General Assembly (UNGA) and Climate Week NYC, the World Economic Forum's Sustainable Development Impact Meetings (SDIM) took place last week in New York, from 23-27 September.

Climate and nature were under the spotlight at this year's meeting, in a critical period where elections, geopolitical tension and economic challenges could slow momentum for climate action. Here's what you need to know.

Global decision-makers are set to convene at three COPs this year, focusing on Biodiversity, Climate and Desertification. With this in mind, an expert panel discussed how public- and private-sector stakeholders can overcome current geo-economic tensions and take essential actions to curb carbon emissions, halt biodiversity loss and foster a more inclusive economy. Listen to the podcast below.

Windfall taxes on fossil fuels, ending harmful subsidies and a wealth tax on billionaires, could enable rich countries to raise five times the amount of money developing nations need in climate finance, a new report shows.

In California, a new measure will see all plastic bags banned at grocery stores across the state from 2026, The Guardian reports. As an alternative, shoppers will only be offered paper bags.

The COP28 agreement to triple renewable energy capacity by 2030 is "within reach", thanks to favourable economics, ample manufacturing potential and strong policies, according to a new International Energy Agency report.

The European Central Bank is now issuing fines to banks that do not meet expectations on disclosing and managing climate risk, Reuters reports.

A recent study reveals that global warming doubled the likelihood of the extreme flooding experienced in Europe throughout September, which affected nearly two million people.

The UK has appointed Rachel Kyte as its new climate envoy. In this role, she will represent the nation at major global climate talks, leveraging her decades of experience in the field.

In the summers of 2022 and 2023, the Hebrides saw the highest numbers of minke whales and the lowest numbers of basking sharks for 20 years, new research shows, suggesting a possible association between these two species.

According to Generation Investment Management's Sustainability Trends Report 2024, which analyzes the state of the world's fight against the climate crisis, "Climate promises are starting to resemble New Year’s resolutions: easy to make, hard to keep". While the report acknowledges progress made in recent years, in the form of global climate agreements and the rise of renewable energy capacity, it stresses the need for greater accountability.

Less than 5% of global corporate philanthropic funding is deployed to climate and nature, a new World Economic Forum report has found. Explore the future role the corporate community can play, in partnership with other public and private stakeholders, in driving climate and nature action.

The shipping industry is a major contributor to global greenhouse gas emissions. If the sector is to get on track to decarbonize and achieve net-zero emissions by 2050, it needs mechanisms that can bridge the transition from fossil-based to low-emissions fuels without causing inflationary pressure. Vincent Clerc, CEO of A.P. Møller-Maersk, explores how in this article.

Natural capital is deeply undervalued in economic models, according to a new Forum report in collaboration with UpLink. Even though more than 50% of global GDP is either moderately or highly dependent on nature, economic models do not systematically account for this value, "creating perverse incentives to destroy natural capital at the cost of economic growth". Allison Voss and Shivin Kohli at the Forum explain some of the opportunities to make a change here.