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Carbon Costs Surge: $1.4 Trillion Price Tag Pits Decarbonization Against Energy Affordability

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‼️ Over 80 carbon policies now require companies—from oil and gas to utilities—to cut emissions or buy allowances. BloombergNEF estimates compliance costs at $96 billion in 2026, rising to $188 billion by 2035 and totaling $1.4 trillion over the next decade. With energy prices likely to stay elevated, carbon costs will intensify the trade-off between decarbonization and affordability.

EMs Surge While China, Brazil Lag: South Africa, Taiwan, Korea Lead August Gains

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‼️ 🇹🇼 🇰🇷 🇿🇦 Through Aug. 7, South Africa (+9.5%), Taiwan (+6.8%), and South Korea (+5.7%) led global equity markets in USD terms, per LSEG Datastream and Yardeni Research. The U.S. rose 3.5%, outpacing ACWI (+3.2%) and ACWX (+2.9%). China (FXI: −0.9%) and Hong Kong (EWH: −1.6%) declined, while Brazil (EWZ: −3.6%) was the weakest.