{"id":556885,"date":"2021-10-26T13:49:19","date_gmt":"2021-10-26T13:49:19","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/10\/26\/darth-perez-strikes-back-cop26-is-already-on-shaky-ground\/"},"modified":"2021-10-26T13:49:19","modified_gmt":"2021-10-26T13:49:19","slug":"darth-perez-strikes-back-cop26-is-already-on-shaky-ground","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/10\/26\/darth-perez-strikes-back-cop26-is-already-on-shaky-ground\/","title":{"rendered":"Darth Perez strikes back + COP26 is already on shaky ground"},"content":{"rendered":"

<\/a> Darth Perez strikes back: The Super League is going after Fifa and Uefa for their <\/strong>\u201cmonopoly\u201d on football. <\/strong>Real Madrid, Barcelona and Juventus are refusing to let their botched ambitions for a pan-European Super League<\/a> die, and have launched legal proceedings against Fifa and Uefa that could \u201cfundamentally reorganize\u201d how the sport is run, the Financial Times<\/a> reports in an exclusive, citing court filings. The clubs \u2014 along with nine other European teams \u2014 attempted to form the breakaway league earlier this year to rival the Uefa Champions League, only to have the plans seemingly fall apart within days following universal condemnation by fans, teams, and pundits alike.<\/p>\n

What\u2019s their argument?<\/strong> The three clubs are alleging that Fifa and Uefa\u2019s control over football is tantamount to a monopoly, which prevents new competitions from being set up to rival the officially-recognized tournaments. They also claim that Uefa should not be able to both make returns from its international tournaments and act as the sport\u2019s regulator. The case is heading to the European Court of Justice, which will now judge whether football\u2019s governing bodies have abused their market power in contravention of European law.<\/p>\n

Clubs vs. countries:<\/strong> Sixteen European countries have said they will weigh in against the rebel clubs to defend Uefa in the lawsuit and protect the current model of the game. The European Commission has also said it will intervene in the case.<\/p>\n

\n

<\/a> The COP26 summit hasn\u2019t even begun and the probability of its success is already<\/strong> on shaky ground.<\/strong> With neither China<\/a> nor Russia<\/a>\u2019s leaders \u2014 the world\u2019s two biggest giant greenhouse gas emitters \u2014 attending, conference host UK PM Boris Johnson said the summit\u2019s chances for success are \u201ctouch and go\u201d and that negotiations will be \u201cvery, very tough\u201d (watch, runtime: 1:02<\/a>). While the US and India (two other major emitters) are expected<\/a> to attend, several other voices will not be represented at the annual summit, including a third of the Pacific islands<\/a>. The increased costs<\/a> of attending the summit this year, along with covid-19 travel restrictions and other pandemic woes, are the main reasons behind the receding RSVP list.<\/p>\n

Wh<\/strong>y are the stakes for this year\u2019s iteration of the summit so high?<\/strong> Deemed<\/a> \u201carguably the most important COP since 2015\u201d by former climate chief Christiana Figueres, the COP26 has leaders, activists and economists the world over holding their breath largely due to the looming urgency of realizing the goals of the Paris Agreement in 2015<\/a>, the most ambitious of which is limiting global warming to below 2\u00b0C, a figure that strays considerably far from projections based on current pledges, which indicate<\/a> a number closer to 2.7\u00b0C. Rich countries have also been expected to empty their pockets of USD 100 bn annually in support of climate actions in developing nations, a matter around which they should announce plans during the summit. Closing the emissions gap and reaching a net zero pathway are among other time-sensitive issues to be discussed at the summit.<\/p>\n

So what \u2014 or rather, who \u2014 will determine if the summit will be a success? <\/strong>UN Secretary General Antonio Gueterres places a bulk of the responsibility squarely on finance ministers\u2019<\/a> shoulders, calling on them to urgently consider net zero goals, low-carbon economic recovery, and inclusion in their decisions for the coming weeks. Economists Jeffrey Sachs<\/a> and Nicholas Stern<\/a> also said tackling climate change requires rethinking economic growth in a framework that prioritizes \u201cbroader common goods\u201d over consumption of the rich, and a more \u201cresource-efficient, productive and healthier\u201d future. Both maintain that taking actions towards fighting climate change, like reallocating investments to green technologies like solar and wind, or implementing carbon pricing and regulation, would not be deterrents to economic growth.<\/p>\n

SOME GOOD NEWS- The pace of divestment from fossil fuels is picking up:<\/strong> Some 1,500 institutions with USD 39.2 tn of assets under management announced this year they\u2019re planning to sell off their fossil fuel holdings, up from USD 52 bn across 181 institutions in 2014, according to a report from DivestInvest picked up by Bloomberg<\/a>. Harvard University, Ford Foundation, the state of Maine, and Canada\u2019s Caisse de D\u00e9p\u00f4t et Placement du Quebec are all among those that made divestment pledges, even as energy stocks surge on the back of the energy crisis, leaving climate-conscious investors behind<\/a>. DivestInvest<\/a> is a network that works to influence investors to divest from fossil fuels and invest in climate solutions to support the transition to the zero-carbon economy.<\/p>\n

Investors are also reporting positive financial outcomes from the move away from fossil fuel investments<\/strong>, with a recent report by BlackRock Inc.<\/a> finding that investors reported \u201cneutral to positive results\u201d from divestment. The DivestInvest report indicates much of the same, saying that investors \u201ccite the financial reality that climate change will make fossil fuels obsolete and a renewable energy future inevitable.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

Darth Perez strikes back: The Super League is going after Fifa and Uefa for their \u201cmonopoly\u201d on football. Real Madrid, Barcelona and Juventus are refusing to let their botched ambitions for a pan-European Super League die, and have launched legal proceedings against Fifa and Uefa that could \u201cfundamentally reorganize\u201d how the sport is run, the […]<\/p>\n","protected":false},"author":1,"featured_media":556886,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7215],"tags":[512,116,147,393,93,633,638,91,270,537,162],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-556885","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-for-your-commute","tag-boris-johnson","tag-china","tag-climate-change","tag-cop26","tag-energy","tag-enterprisepm","tag-for-your-commute","tag-oil-and-gas","tag-russia","tag-spain","tag-sports","wpautop","entry"],"acf":{"mongo_id":"1ba87568-ac2e-4b64-8b50-ed607552a9c7","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/10\/472.jpg","photo_position":"above","related_issue":[556881],"teaser":"","voice_url":""},"yoast_head":"\nDarth Perez strikes back + COP26 is already on shaky ground - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2021\/10\/26\/darth-perez-strikes-back-cop26-is-already-on-shaky-ground\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Darth Perez strikes back + COP26 is already on shaky ground\" \/>\n<meta property=\"og:description\" content=\"Darth Perez strikes back: The Super League is going after Fifa and Uefa for their \u201cmonopoly\u201d on football. 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The organization behind the Champions League is considering running the season under a new format, dubbed the \u201cSwiss Model\u201d reports\u2026","rel":"","context":"In "Sports"","block_context":{"text":"Sports","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/_newspack_sports\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/4\/339.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":643942,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/09\/17\/everything-you-need-to-know-about-the-new-champions-league-format\/","url_meta":{"origin":556885,"position":2},"title":"Everything you need to know about the new Champions League format","author":"enterpriseam admin","date":"17 September 2024","format":false,"excerpt":"Under the new format, the top eight teams will advance directly to the round of 16","rel":"","context":"In "Enterprise explains"","block_context":{"text":"Enterprise explains","link":"https:\/\/enterpriseam.com\/egypt\/category\/explainers\/enterprise-explains\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/9\/1314.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":553763,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/08\/06\/the-2021-2022-season-how-we-got-here\/","url_meta":{"origin":556885,"position":3},"title":"The 2021-2022 season: How we got here","author":"enterpriseam admin","date":"6 August 2021","format":false,"excerpt":"The 2020-2021 season was one of the most tumultuous periods for global football in living memory. The covid-19 pandemic was still making its presence felt, shuttering stadiums and sending financial shockwaves through even the wealthiest clubs in the world. Traditionally dominant teams were swept aside and replaced by new pretenders\u2026","rel":"","context":"In "HOW WE GOT HERE"","block_context":{"text":"HOW WE GOT HERE","link":"https:\/\/enterpriseam.com\/egypt\/category\/how-we-got-here\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/8\/2.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":623994,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/06\/13\/the-egyptian-league-returns-alongside-the-start-of-2024-uefa\/","url_meta":{"origin":556885,"position":4},"title":"The Egyptian League returns alongside the start of 2024 UEFA","author":"enterpriseam admin","date":"13 June 2024","format":false,"excerpt":"\u26bdThe Egyptian League hiatus is over. The Egyptian Premier League is back in action tonight, starting with Pyramids, the current table leader with 53 points from 22 matches, facing Smouha at 7pm. Modern Future and El Gouna will also be going head to head at the same time in a\u2026","rel":"","context":"In "ENTERPRISE RECOMMENDS"","block_context":{"text":"ENTERPRISE RECOMMENDS","link":"https:\/\/enterpriseam.com\/egypt\/category\/enterprise-recommends-2\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":603634,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/08\/16\/its-uefa-super-cup-day\/","url_meta":{"origin":556885,"position":5},"title":"It\u2019s UEFA Super Cup day","author":"enterpriseam admin","date":"16 August 2023","format":false,"excerpt":"\u26bd After the big leagues kicked off last week, we\u2019re in for a calmer football day \u2014 albeit not an eventless one, with Champions League defending champions Manchester City and Sevilla, the Europa League title holder, meet in Athens to battle it out for the UEFA Super Cup at 10pm.\u2026","rel":"","context":"In "ENTERPRISE RECOMMENDS"","block_context":{"text":"ENTERPRISE RECOMMENDS","link":"https:\/\/enterpriseam.com\/egypt\/category\/enterprise-recommends-2\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/556885","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=556885"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/556885\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/afternoon\/556881"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/556886"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=556885"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=556885"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=556885"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=556885"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=556885"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}