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Dr. Gianrico Farrugia, CEO of the Mayo Clinic, urges Americans to take the first Covid-19 vaccine available to them.

“My message is very simple: don’t wait for a specific vaccine,” he told CNBC’s Squawk Box on Tuesday. “Get the first vaccine on the market because its benefits far outweigh the potential risk.”

Two coronavirus vaccines have been approved in the US by the Food and Drug Administration for emergency use – one from Pfizer and BioNTech and the other from Moderna. The Moderna vaccine launches this week after receiving limited release on Friday. The first Americans outside of clinical trials received images of the Pfizer vaccine last week.

Currently, healthcare workers and residents of long-term care facilities are given priority in the first round of vaccination. However, as the number of doses available increases, a wider range of people can be immunized. On Sunday, a panel from the Centers for Disease Control and Prevention recommended that key workers and people aged 75 and over should come first.

Doctor Diana Rodriguez will receive the Covid-19 vaccine with the first batch of Moderna’s vaccine on December 21, 2020 at Hartford Hospital in Hartford, Connecticut.

Joseph Prezioso | AFP | Getty Images

Pfizer-BioNTech and Moderna’s vaccines, both of which are two vaccines, have shown strong efficacy in clinical trials. Pfizer reported 95% effectiveness in its large-scale study, while Moderna’s vaccine was more than 94% effective in preventing Covid.

“Having a vaccine that is 95% effective, like the two vaccines we currently have, is a medical miracle,” said Farrugia, who has headed the Mayo Clinic in Rochester, Minnesota, since January 2019.

Other vaccines could get FDA approval next year, which could help expand the pool of Americans who could get the vaccinations. Johnson & Johnson expects to receive data from its late-stage vaccination study early next year and may seek emergency approval in February.

The vaccines come at a critical time in the global pandemic. According to a CNBC analysis of data compiled by Johns Hopkins University, the seven-day average of new infections on Monday was 215,429, the sixth highest ever. The record high came last week. The last 7-day average of daily new deaths in the US was 2,655, the worst run rate ever.

“It’s important that people are trained and then vaccinated. This is the only way we can get out of this pandemic,” Farrugia said.

Goldbecksolar employees test a module in a solar park under construction in a former gravel mine.

Jens Buttner | Image Alliance | Getty Images

During the coronavirus pandemic, the worst public health crisis in a century, some people pointed to a tiny silver lining for the planet: global lockdown measures reduced climate change-related carbon dioxide emissions.

Global greenhouse gas emissions fell by around 7% from 2019 as businesses closed and fewer people traveled by car and plane to contain the spread of the virus. The decline results in a decrease in global warming of around 0.01 degrees Celsius by 2050 – a negligible impact, the scientists say.

But until 2020 ends and a first introduction of vaccines raises hopes of an early end to the pandemic, scientists warn that emissions will rise again next year and will continue to rise unless governments prioritize climate change in their economic stimulus plans for Covid-19 .

Invest in a green recovery

In response to the economic damage caused by the pandemic, the world’s largest economies have already allocated more than $ 12 trillion to resume economies, according to the International Monetary Fund.

It is an unprecedented global effort that scientists and researchers must embrace climate resilient projects such as increasing green public transport, renewable energy and smart power grids.

“These stimulus packages are a unique opportunity to kickstart a green recovery that locks us into a just and sustainable future,” said Inger Andersen, executive director of the UN Environment Program.

“The science is clear. Time is running out,” said Andersen. “We have a decade to change our economies and avoid climate catastrophes.”

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A so-called green recovery from the pandemic involves moving away from investing in and providing subsidies for fossil fuels to investing in zero-emission technologies and infrastructure, ending coal-fired power plant production, and restoring and preserving the planet.

“There is a benchmark for effective and lasting emissions reductions,” said Kim Cobb, climate researcher at Georgia Tech. “The pandemic is failing in all respects.”

“After the pandemic, the world’s governments will invest trillions of dollars in efforts to stimulate the economy and alleviate suffering,” Cobb said. “You should make these stimulus packages emission-friendly and fair.”

Workers install wind turbines in a wind farm on November 16, 2020 in Anqing, Anhui Province, China.

Li Long | Visual China Group | Getty Images

The world is still aiming for a temperature increase of more than 3 degrees Celsius this century, which is well above the goals of the global Paris Agreement. The rise in temperature is linked to more frequent and more destructive climatic disasters such as hurricanes and forest fires, rapid ice melting and increased sea level rise.

A recovery in the green pandemic could cut expected emissions by up to 25% in 2030 and cut the chances of keeping the world below a 2-degree Celsius scenario by up to 66%, according to a UN report released earlier this month. increase.

“Huge Missed Opportunity”

Jennifer Layke, global director of the World Resources Institute research group, emphasized that the window of opportunity for governments to invest in climate resilient technologies and infrastructures is critical.

For example, leaders of countries like Germany, the United Kingdom, and Japan have urged states to invest in technologies like solar power and electric vehicles as part of their pandemic recovery plans.

However, many countries developing stimulus programs have failed to prioritize investments in clean energy, and policymakers and energy system participants are drawing on what they have done in the past.

According to the United Nations, only around a quarter of the G20 heads of state and government have spent part of their spending, up to 3% of GDP, on low-carbon measures

“Ambition alone does not help us to reduce emissions.”

Inger Andersen

UN environmental program

“We haven’t seen how much is invested in eco-friendly incentives that would allow us to move from fossil fuels to cleaner technologies,” said Layke. “It’s a big missed opportunity.”

The global response to the pandemic is reminiscent of the financial crisis 10 years ago, Layke said when carbon emissions rose higher than ever after governments around the world invested more in fossil fuels to recover from the recession.

“The economy is a big tanker going in the wrong direction around the world,” she said. “This is the moment these executives need to take action. If their past investments in Covid-19 recovery are an indicator, we are off course.”

More net zero emissions targets

It is also crucial that governments around the world update and consolidate more ambitious climate targets at the next round of UN talks to be held in Glasgow, Scotland, in November.

While emissions trends aren’t looking good, a global shift is afoot. The UN report showed that 126 countries, which account for 51% of global greenhouse gas emissions, will have adopted or are considering net zero emission targets by mid-century.

China, the world’s largest polluter, has vowed to cut its emissions to zero by 2060. Britain has vowed to cut emissions by 68% by 2030. Korea and Japan have announced net zero targets.

In the US, President-elect Joe Biden has pledged to resume the Paris Agreement and bring emissions to zero by 2050, although it is unclear how ambitious his emissions reduction target will be.

Despite a large number of countries committed to reduction targets, experts criticized their global pandemic incentives for not prioritizing investments in energy efficiency.

“Ambition alone will not help us reduce emissions. It is absolutely essential that countries translate these ambitions and commitments into nationally determined contributions and start implementing plans,” said Andersen.

“I also urge governments to use the next wave of Covid-19 financial interventions to move us in that direction because ultimately we simply cannot set a price for the future that we will lose.”

U.S. government debt prices rose Tuesday as investor sentiment was shaken by a rapidly spreading new strain of coronavirus in the UK

The yield on the benchmark 10-year Treasury note fell to around 0.918% while the yield on the 30-year Tresury note fell to 1.656%. Bond yields move inversely with prices.

On Monday, 10-year government bond yields fell below 0.9% as fears over the new Covid variant sparked demand for the relative security of government bonds.

The variant, which scientists say is up to 70% more transmissible than previous tribes, forced the UK government to shut down London and other parts of south east England and track the mix of households during the Christmas break.

It also resulted in several countries around the world closing their borders with the UK, disrupting travel and raising concerns about possible food shortages as the deadline for the Brexit transition drew near.

Still, investors could find some solace in a $ 900 billion Congressional bailout package for Covid-19 and longer-term optimism about vaccine rollout worldwide.

On Monday, Congress passed a mammoth coronavirus aid and government spending package. The package includes an increase in unemployment benefits, more small business loans, an additional $ 600 in direct payment, and funding to streamline the critical distribution of Covid-19 vaccines. The bill now goes to President Donald Trump’s desk.

Meanwhile, investors are also watching coronavirus vaccines roll out. With the Pfizer BioNTech vaccine already rolled out nationwide, about 6 million doses of the Moderna vaccine were distributed on Sunday.

In terms of data, third quarter GDP numbers are expected at 8:30 a.m. ET, while consumer confidence and existing home sales are expected at 10 a.m. ET.

The head of the German firm & ever has ever said that his company’s new vertical indoor farm in Singapore will produce 1.5 tons of “green leaf” every day when it is operational in the fourth quarter of next year.

Henner Schwarz, Chief Executive Officer at & ever, told CNBC on Monday that he expects the products from his company’s new research and development facility in Changi to reach many Singaporeans over time and “make a small contribution to food security in Singapore” will.

The company, which competes with more conventional food manufacturers, sells live plants to customers, which can then be harvested at home when needed. As a result, it tastes better and fresher, said Schwarz.

Schwarz said Singapore is “not the easiest market for indoor vertical farming” because electricity is quite expensive and there are “lots of cheap imports”.

However, has ever received a grant from the Singapore government, which decided to accelerate plans to increase locally produced food after seeing how the coronavirus pandemic affected food supplies.

The scarcity of land in Singapore makes conventional farming a real challenge and the country is keen to find solutions that do not have a large footprint.

Regarding the price, Schwarz said, “We believe we are rating our products similarly to existing premium organic products that you can find in the Singapore market today.”

He added, “The price of indoor vertical farming products in many markets around the world, such as the US, is very expensive. Our system is really designed to make a meaningful contribution and it has taken us some time to get that To get things right and to have the most energy efficient solution on the market. “

In order to reduce energy consumption at the Singapore location, & ever plans to use a combination of solar detection systems and LED lights. It works with light manufacturer Signify to run a series of experiments.

Kuwait Farm

& already has an operational indoor farm in Kuwait which has become a testing ground for vertical indoor farming as it has similar but different food security issues.

“We opened our farm in Kuwait when Covid really hit in March,” said Schwarz. “It was quite difficult to increase production capacity. However, the market acceptance so far has been really great and the Kuwaiti people really like our products.”

In agriculture, access to fresh water is a problem in many regions of the world. “We need 95% less fresh water than traditional farms,” ​​said Schwarz.

He added, “We expect that over time, as our efficiencies keep getting better, prices can keep getting lower.”