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editor-in-chief. This is FP Live.

Welcome to the show. It often seems that climate scientists are running out of ways to warn us.

Last month, a remarkably sober UN report declared that we are way behind our climate goals.

The window for action is just tiny at this point.

Even best case scenarios show that global temperatures will shoot through the limits we've set ourselves.

And that can sound a bit hopeless.

The question at this point is whether we can dramatically reduce carbon emissions

to have some hope in the future of bringing

the temperatures that have risen back down later. And if we don't, climate disasters will become so

extreme that humanity will not be able to adapt. It's not all bleak. Here in America, the Biden

administration has introduced landmark legislation since coming to office.

The Inflation Reduction Act is aimed at cutting carbon emissions and forwarding America's climate goals.

As you'll hear ahead, it's not without controversy.

Europe has called America protectionist because many of its policies are essentially made in America

restrictions. But it's what we have. The question is whether it's enough, whether the rest of

the world can join in. And most of all, where is the money, money, money? It always begins and ends

...