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Markets Digest Iran Peace Progress and Fed Rate-Hike Risk — June 22, 2026

  Markets are easing into a cautious start this Monday as investors return from a long weekend — U.S. markets were closed Friday for Juneteenth — and assess a mixed backdrop: tentative optimism over U.S.–Iran peace talks, a newly hawkish Federal Reserve, and a key week of economic data and earnings ahead. Oil is steadying, the Canadian dollar is under modest pressure, and Asian markets rallied while European and U.S. futures drifted slightly lower in early trading. 🍁 Canada — TSX & the Loonie The S&P/TSX Composite Index heads into Monday trading with a cautious tone, sitting near the 34,857 level after slipping 0.32% on Thursday — the last day Canadian markets were open. Energy stocks will be in focus as oil prices stabilize following weeks of volatility tied to the U.S.–Iran conflict and the partial reopening of the Strait of Hormuz. The Canadian dollar is trading at approximately 70.52 cents U.S. (CAD/USD: 0.7052), down about 0.22% on the session. The loonie remains und...
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National Climate Action Plans Remain Insufficient to Limit Global Temperature Rise to 1.5 Degrees Celsius

 


The recent report from UN Climate Change has found that national climate action plans remain insufficient to limit global temperature rise to 1.5 degrees Celsius and meet the goals of the Paris Agreement. The report indicates that even with increased efforts by some countries, much more action is needed now to bend the world’s emissions trajectory further downward and avoid the worst impacts of climate change.

The report is a red alert for our planet, and it shows why governments must make bold strides forward at COP28 in Dubai, to get on track. 

COP28 is the 28th annual United Nations (UN) climate meeting where governments will discuss how to limit and prepare for future climate change. 

The conclusion of the first global stocktake at COP28 is where nations can regain momentum to scale up their efforts across all areas and get on track with meeting the goals of the Paris Agreement. The stocktake is intended to inform the next round of climate action plans under the Paris Agreement (known as nationally determined contributions, or ‘NDCs’) to be put forward by 2025, paving the way for accelerated action.

The latest science from the UN’s Intergovernmental Panel on Climate Change indicates that greenhouse gas emissions need to be cut 43% by 2030, compared to 2019 levels. This is critical to limit temperature rise to 1.5 degrees Celsius by the end of this century and avoid the worst impacts of climate change, including more frequent and severe droughts, heatwaves and rainfall.

The report shows that governments combined are taking baby steps to avert the climate crisis. It’s time to show the massive benefits now of bolder climate action: more jobs, higher wages, economic growth, opportunity and stability, less pollution and better health. Governments must not only agree what stronger climate actions will be taken but also start showing exactly how to deliver them.


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