Return to Transcripts main page

Connect the World

Italy Issues "Extreme" Health Risk over Heat Wave; UNICEF: At least 289 Children have Died or Disappeared in 2023 Trying to Migrate Across Mediterranean to Europe; Russian Military Silent on Dissenting General; Actors Strike over Stalled Talks with Studios; Jafar: World Must Stop Pointing Fingers and Focus on Inclusive Climate Funding; Mattel Reinvests Barbie with a Hollywood Assist. Aired 11a-12p ET

Aired July 14, 2023 - 11:00   ET




ELENI GIOKOS, CNN HOST, CONNECT THE WORLD: Hello and welcome to the second hour of "Connect the World". I'm Eleni Giokos live from Dubai.

This hour from the Mediterranean to Asia to the United States millions of people around the world are battling brutal heat waves. We explore

the dangers of these extraordinarily high temperatures.

Weeks after the abandoned Russian mutiny by Yevgeny Prigozhin, Head of the powerful Wagner Group; President Vladimir Putin dismisses the group

saying, "It simply does not exist". And one of the biggest Hollywood shutdowns in decades, actors are joining writers on the picket lines

after talks with major studios and streaming services fail it marks the first time actors have stopped working on movie and TV productions since


The world is feeling the heat like never before in fact, the UN is using the words out of control to describe the climate crisis today. After the

world saw its highest temperatures for three days running last week, around 100 million people and a heat alerts across the United States.

The U.S. government just releasing a report saying the earth saw its warmest June on record. And for a third month in a row ocean

temperatures hit a record high. In Europe 15 Italian cities are under extreme heat risk alerts for this weekend.

And earlier, Greece had to shut down the Acropolis in Athens. And as you can see from this rescue, the intensifying heat is a health hazard

looming over all over this. The humans last big study of climate change. It tells us we have to cut emissions by 43 percent soon to limit global


Barbie Nadeau is in Rome, where it is downright sweltering. She's on the ground for us. I'm sure feeling the extensive and intense heat Barbie.

Look this is tourist season. What is going on, on the ground? How are people coping with his record temperatures?

BARBIE NADEAU, CNN CORRESPONDENT: Well, you know, it's starting to look a little bit like zombie land around here. We've been in the Coliseum

most of the day, and the tourists are really starting to sort of be you know, you're hearing people saying let's get out of here. This is just

enough, enough heat.

You know the cities doing what it can to try to provide cold water and things like that telling people go to the museums during the coolest or

the hottest part of the day. We took a close look though, at what they're doing here in the City of Rome to try to help these tourists.


NADEAU (voice over): Rome the Eternal City lately is more like the infernal city. A deadly heatwave gripping Southern Europe has made those

trying to enjoy a Roman holiday rather uncomfortable.

CATHERINE HODGDON, TOURIST: I mean, it's hard but yes, it is. It is a little disappointing. I was thinking today like, because we're planning

to not be out when it's the hottest, like we're missing some hours to be able to do stuff but ultimately, to be able to enjoy it the most we're

going have to cut out those hot hours of the day.

NADEAU (voice over): Temperatures are climbing and expected to top 40 degrees Celsius 104 degrees Fahrenheit in Rome. Italians have named the

heatwave Cerberus after a figure in Greek mythology that guarded the gates of hell.

Officials say the best way to combat the heat is with water. And Rome has no shortage of that. Rome has more than 4000 public water fountains

with drinkable water. And Rome Civil Protection Agency has an app that will help visitors locate the closest one.

The Command Center Head -- tells us that common sense is key. And staying hydrated is essential. So is using water to cool off he says.

But tempting as it may be to swim in a fountain doing so runs the risk of a several $100 Fine.

SARAH, TOURISTS: Oh, we can't stay out all day. That's for sure. Yes.

ANDY SMITH, TOURISTS: I think we just have to take a lot of breaks and not try and over plan.

NADEAU (voice over): The heatwave is supposed to last at least through next week. And for most tourists, canceling is not an option which means

another week of hell not fit for man or beast.


NADEAU: And you know Eleni, those four tourists so many people who come to Rome, it's a chance of a lifetime to see such a beautiful city.

There's no way they can cancel or postpone. They don't want to miss anything.

So they're out. We've seen people under the sun for hours and hours in line to see the Coliseum behind me and other places around the country.

You know people are just doing everything they can to stay cool and to stay healthy and the city's doing what they can too, Eleni.

GIOKOS: Yes and it's not the only city right? I mean we're seeing these extreme temperatures in various places and cities and towns across



NADEAU: Yes, that's right. I mean, Florence, the same thing in Sicily. You know, they've had record temperatures in Sicily, even just in the

last couple of days. Sardinia, it's, you know, places where there's a beach, you've got beach communities, those places are probably faring a

little bit better, because they're built around, you know, staying in the water and staying cool.

Cities like Rome, cities like Florence. So where, you know, there's not a lot of there's a breeze, but there's not really a lot of wind. And

there's certainly no sea air here, you really feel it. There's such an oppressive heat, there's so much humidity, and that even when you're in

the shade, and it doesn't really matter.

And the worst of it really is only about 10 percent of Europeans have air conditioning. So tourists are probably fine in their hotels, but

people who live here really are suffering because it's not cooling off at night much either Eleni. It's miserable and the worst for me

certainly is today. That's apparently going to be the coolest day for the next five or six. It's just going to get worse.

GIOKOS: Yes. Well, you go and you cool down and get some water. Get some water on your face. As well as the camera man. You guys stay safe. Thank

you so much, Barbie, great to have you on. Well, I want to take you to Texas next. It has been in the grip of a brutal heatwave for weeks.

Let's go to CNN's Ed Lavandera who's live from Dallas. How are you doing? How are the people they're doing?

ED LAVANDERA, CNN CORRESPONDENT: Well, here simply just kind of bracing for the intensity of this heat. As you mentioned, there are tens of

millions of people all across the United States, mostly in the south and southwest of this country that are under heat warnings throughout the

day today.

So you're talking about a major portion of this country here in the U.S. battling these, this heatwave, and the superlatives just are never

ending. There have been 900 heat records set in communities across this country in this month alone, another 100 are expected this weekend as


Here in Texas and Oklahoma some of the cities with the highest heat indexes that were recorded yesterday, we still haven't hit the worst of

the heat today. We're recorded here in this region of Texas, and Oklahoma in the central part of the country.

And you look around, if you look at in the Southwest in the City of Phoenix, Arizona has had 34 consecutive days where the temperature has

reached over 110 degrees Fahrenheit, that's 44 degrees Celsius. So the intensity of this is just really staggering.

As you mentioned before here, you know, it's almost feels like people are walking around like zombies. And this is supposed to continue this

weekend in the appropriately named area of Death Valley in California, the temperatures could reach 130 degrees, that's 54 degrees Celsius and

leave it to a young boy that we saw playing in this popular park here in Dallas yesterday. And 11 year old to kind of capture what everyone is

feeling right now.


KAMERON JOHNSON, DALLAS RESIDENT: It feels like if hot sauce could be felt without you having a taste it. Like and it got poured on my dad. I

will love to enjoy some time outside without getting wet, like just riding bikes and stuff. But every time I try to go out, I get tired

really fast because of the sun. And I just I'm like, OK, I got to go.


LAVANDERA: It's hard for these youngsters to enjoy their summer vacations like that. And as we mentioned, you know, this is a heatwave

that doesn't show any signs of relenting here in the coming days. So emergency services, emergency paramedic crews, you know, all across

these regions that have been so intensely hit by the heat reporting a rise in the number of heat related illnesses and cases that they're

having to treat.

So clearly, the warnings going out for people to look after themselves and take every precaution possible to get through this.

GIOKOS: Yes, a very -- this heat very dangerous. We mustn't forget the impact that it has on people. I hope you get to go cool off in the farms

and behind you Ed you and your team. Thank you very much for that update. Stay safe.

All right, CNN Meteorologist Derek Van Dam is tracking the intense temperatures and he's watching for what's to come. I have to say look,

when the UN warns about what a high and record temperatures mean for the world and for people we're seeing this. And I'm worried it's a harbinger

of what's to come. Derek, you're going to break this down for us. Tell me what's going on?

DEREK VAN DAM, CNN METEOROLOGIST: Yes, Eleni you know, every single day we seem to keep coming in front of the camera talking about these record

high temperatures that are being shattered across the world.

And what's most astounding to me as a meteorologist who has devoted his entire life to studying this and the climate is that this is now the new

normal. This is what we're going to have to live with the climate crisis isn't for future generations it is something that is happening now.


And we're seeing it unfold and play out in real time right this moment. I mean, what Ed just summarized a moment ago perfect, right? And this is

it. Just since June 1st that's the, by the way, the beginning of the meteorological summer, all the way to July 11th we've had over 1000,

record high temperatures broken across the U.S. that really puts it into context.

And right now is the beginning of an extreme heatwave that is going to last not just a couple of days, we're talking weeks, especially across

the southwestern U.S. So we'll get to all the details. But I want to show you just what's happening here.

Over the next course of the weekend, we'll break 100 possible record high temperatures, that's overnight maximum or minimum temperatures and

also maximum high temperatures for the day. In Miami, Florida this is a completely different type of heat compared to that of Phoenix, Arizona,

much drier heat there.

But Miami is much more humid. So they have this thing called the heat index, where you factor in the relative humidity and the temperature.

And they have had 33 consecutive days of the heat index over 38 degrees Celsius, just astounding.

And it's probably just a few minutes or if not an hour away from actually going into 34 days consecutively of having that -- that is a

record streak by the way. And this is having an impact on the ocean water temperatures as well.

We've had water temperatures here approaching some of the upper thresholds of what's known possibly in the oceans across the world just

incredible. Look at what's happening across the deep South Houston to Dallas where Ed was located?

And it's this heat dome that's going to build over the Southwestern U.S. that is going to cook places like Sacramento, Death Valley, Las Vegas,

which could tie or exceed its all-time record high temperature this weekend. We're monitoring that.

And then as the North America bakes under heat, we're looking for record high temperatures across much of Southern Europe, particularly across

the Mediterranean. Let me take you into Italy. We have what is level three of three.

This is a red alert by Italian agencies here warning for extreme heat risk of dehydration. And you can see why? These temperatures are soaring

all the way to the upper 30s to low 40s in Rome by the early parts of next week 41 degrees today for Athens. The seven day forecast is a

stoning. Look at this average high in Rome this time of year 31 will be 10 degrees above that Eleni by Tuesday of next week.

GIOKOS: So it's absolutely so scary to look at this. Derek, thank you so much. The only good news is that as we do more weather I get to speak to

you a lot more but generally this is just bad for humanity. Derek Van Dam thanks for breaking that down for us.

Well, the world is heating up it is -- its two biggest polluters are getting ready to talk climate. U.S. Special Envoy on Climate Issues John

Kerry is due in China Sunday; both countries are seen as key to meaningful action on climate change.

And like other nations around the world, both are feeling the impacts of intense heat on home soil this summer. Now this problem is going to need

a huge amount of investment and fast coming up on the show. We're going to be giving you a rundown of what we need.


BADR JAFAR, PRESIDENT, CRESCENT PETROLEUM: My belief is that the more we can debunk the myth that the greener something is, the less profitable

it is. The more capital we're going to see flow.


GIOKOS: Well, we will hear from three venture capital fund managers on what needs to happen to ramp up climate finance? Plus the heartbreaking

story of a Pakistani teenager who died trying to make a better life for his family. That's all coming up after the break.



GIOKOS: We now turn to Europe's migrant crisis and some disturbing new numbers. UNICEF reports at least 289 children are estimated to have died

or disappeared attempting to cross the Mediterranean Sea this year while migrating from North Africa to Europe that amounts to nearly 11 children

per week.

In all nearly 100,000 migrants have already arrived in Europe this year according to the UN Refugee Agency. Italy is by far the most popular

destination, followed by Spain and Greece. And it was near Greece that a dangerously overloaded boat crowded with more than 750 migrants capsized

in June.

Almost everyone on board drowned including a 14 year old boy from Pakistan. CNN traveled to the boy's home in Punjab Province and spoke to

his devastated father. Our Anna Coren has this exclusive.


ANNA COREN, CNN CORRESPONDENT (voice over): The lush plains of Gujarat in Punjab Province are home to some of the most fertile land in all of

Pakistan. The mighty Indus River and its tributaries the lifeblood but not everyone here prospers from its richness.

14-year-old Mohammed Abuzha (ph) felt the heavy burden of responsibility. His father, a school van driver, earning less than $90 a

month was struggling to provide for the family. Abuzha worried about the future of his younger brothers, especially six-year-old Azan (ph) who is

severely disabled.

My son pleaded with me to be sent abroad, he explained. He said look at how we live will die of hunger. It's best for me to leave so I can

support our family. Many older boys from the village had already made the trek to Europe through human smuggling operations, sending hefty

remittances back home.

Abuzha's uncle had decided to go and the teenager knew this was his chance. The people smugglers said it would cost more than $8000 to send

my son to Italy. I said I can't afford it. He told me your kid will earn that in a couple of months.

At the beginning of May this year, Abuzha his uncle and a small group of teenage boys from the village set off. Human smugglers organized for the

group to fly from Karachi to Dubai, then to Egypt before transiting to Libya. From Tripoli International Airport they drove to the Libyan Port

City of Tobruk and waited in a camp filled with other illegal migrants for the next month.

The day before the group set sail for Italy their final destination, Abuzha sent a video to his brothers hoping to make him laugh. He then

recorded the group's final prayers. That night, he called his father. My son was really happy. He said, don't worry, Dad, it will be OK. We'll

have life jackets. It's a big boat. Once I'm dead, you'll have nothing to worry about.

On the 9th of June, Abuzha bordered the Adriana, a fishing vessel with a capacity of 100 instead, 750 illegal migrants were crammed aboard, of

which almost half were from Pakistan, according to the Pakistani Interior Ministry. Within days, the trawler would capsized off the coast

of Greece as a great Coast Guard ship -- more than 600 people drowned in what will become one of the deadliest migrant boat tragedies.


Among the survivors, only 12 Pakistanis, Abuzha (ph) was not one of them. Dying of hunger; -- don't send your children away. For us life and

hell are now the same. But this grieving father's warning is falling on deaf ears. According to UN migration, last year, Pakistanis weren't even

among the top 10 nationalities arriving in Europe.

This year, however, they're ranked number five with economic migration fueling the surge. A financial crisis in Pakistan and record high

unemployment is driving many families to make this life altering decision.

ROBERTO FORIN, HEAD OF EU OFFICE, MIXED MIGRATION CENTER: The common narrative is that smugglers are there to lure people into this dangerous

journey. We look at who are the people that influencing the decision of migrating and it is mostly family. So migration is a family investment.

COREN (voice over): For this mother in -- in Pakistan administered Kashmir, her 20 year-old-sons was supposed to be on that ill-fated

vessel. She says the human traffickers disembarked him because of overcrowding. He's now waiting for the next boat. I asked him to come

home but he won't, she explains. He wants to go to Europe like other boys from our village. I pray that he makes it. Anna Coren, CNN, Hong



GIOKOS: The U.S. confirms that controversial cluster munitions have been delivered to Ukraine from the U.S. U.S. officials say Kyiv will not use

the weapons, which are banned in more than 120 countries anywhere close to civilians. Meanwhile, there's optimism from Ukraine, it says it's

maintaining momentum south of besieged Bakhmut and in the southern city of Tokmak, where it claims a recent strike killed up to 200 Russian


Back in Russia, President Vladimir Putin now says that the Wagner Mercenary Group doesn't exist in the eyes of the law. You'll remember

that fighter group was behind abandoned revolts three weeks ago; its leader hasn't been seen in public since. But it's not just Wagner that's

clashing with the Kremlin. Some of Russia's own senior commanders are having skirmishes with Moscow. CNN's Matthew Chance has more.


MATTHEW CHANCE, CNN SENIOR INTERNATIONAL CORRESPONDENT (voice over): This is how the Russian defense ministry wants to portray its army. Well

trained, equipped and effective. But the reality looks increasingly chaotic. The recent battlefield death of one top general now another

saying he's been fired for telling the truth about the dire situation on the frontline.

MAJOR GENERAL IVAN POPOV, 58TH ARMY COMMANDER: Now it is possible to confidently say that an order was issued, and I was removed from my


CHANCE (voice over): General Popov was the commander of the Russian 58 army heavily engaged in battles around Zaporizhia in southeastern

Ukraine, one of Russia's most senior commanders. He says it raised questions about high casualty rates and the lack of artillery support.

One Russian MP criticized his audio link as a political show that there's been no official pushback on its content.

GEN. POPOV: I had no right to lie in your name, in the name of my fallen comrades. So I outlined all the problems which exist.

CHANCE (voice over): It feels like another swipe at Russia's beleaguered defense minister Sergei Shoigu seen recently touring this Russian arms

factory. Russian military bloggers, often the only source of comment, in the absence of any official reaction, say his Chief of Staff, -- Valery

Gerasmiov, signed the order to have Popov removed.

There are unmistakable echoes of the criticism made by the Wagner Chief Yevgeny Prigozhin, who went on to lead an armed uprising against what he

said was an incompetent Russian military leadership. That ended in failure, we think, but it seems discontent among Russia's senior officer

class, maybe widespread, a worrying sign for the Kremlin.

And there's still no word about what's happened to this Russian commander, General Surovikin last seen calling on Wagner to abandon

their mutiny last month. The Wall Street Journal is now reporting he's been detained for suspected Wagner links. Now this senior Russian MP is

now playing that down, Surovikin is not reachable, he told this Russian blogger and he's resting, he says.


Wagner according to its leader is resting too. The Russian military takes control of its heavy weapons and ammunition. Amid setbacks both on

and off the battlefield, the Kremlin appears to be tightening its grip, purging its ranks of descent. Matthew Chance, CNN London.


GIOKOS: Still ahead on "Connect the World" a double whammy in Hollywood as actors join writers on the picket lines. What this could mean for

your favorite TV show. We'll be right back.


GIOKOS: Welcome back to "Connect the World" with me Eleni Giokos, your headlines this hour. France is celebrating Bastille Day celebrations.

What come while police are still on edge after recent protests? Indian Prime Minister Modi is the guest of honor and he was awarded the Grand

Cross, France's highest honor during his state visit to the country.

A World Health Organization Committee says the artificial sweeteners Aspartame should be deemed a possible cancer risk, while the study cites

a possible link between Aspartame and liver cancer, the findings are not conclusive. The U.S. Food and Drug Administration consider the sweetness

safe for human consumption. It's used in sodas, juices, gum and other food products.

And international alliances including the UK and U.S. is expressing deep concern as increasing reports of sexual violence and rape in Sudan. His

statement today says the now three month long conflict is having a disproportional impact on women and girls. The grim assessment comes a

day after the International Criminal Court opened a new investigation into alleged war crimes in Sudan's Darfur region.

Now the studios in Hollywood have gone silence as actors are now joining the picket line. In just a little while members of the union

representing around 160,000 actors are expected to pick it in front of major studios.

And streaming services, the actors have joined the screenwriters in solidarity, who have been striking since May. Actress Joely Fisher who

serves as the National Secretary and Treasurer for the Actors Union had this to say about negotiations on CNN this morning.



JOELY FISHER, ACTRESS, SAG-AFTRA NATIONAL SECRETARY/TREASURER: There are people that are making hundreds of millions of dollars, they are

profiting on our backs. And if we want a tiny little sliver of that ongoing, it is not unreasonable. It is not.


GIOKOS: Chloe Melas has been watching this all developed for us from New York. And of course, you know, the company is coming back with an offer.

And there's the union saying this isn't good enough, take us through the latest.

CHLOE MELAS, CNN ENTERTAINMENT REPORTER: Also, the unions, they want higher pay, they want streaming to be addressed, and that it's a new

era. This is the first time since 1960, that you've seen the writers and the actors strike at the same time. I think Marilyn Monroe was, you

know, the leading lady at the time on screen, if that puts things into perspective for you.

But as of now, both the AMPTP that represents the studios and the actors and the writers, they are on totally opposite sides when it comes to

artificial intelligence and what people should be paid and what is right to them. And fair, you saw Bob Iger; the Head of Disney come out and say

that it's not realistic that, you know, they're not making as much money as you think.

But then you hear Fran Drescher who's the president of SAG-AFTRA come out in a press conference yesterday, saying, basically, boohoo that

these studios are these executives that get paid millions and millions, maybe hundreds of millions of dollars, in some cases are crying broke,

and that we can't believe that.

But in just about 30 minutes, you are going to see these picket lines start up in front of the big studios in both LA and New York. And so I'm

going to start heading down in about a half an hour to one of the locations in New York and you might see some famous faces in some of

those picket lines.

And last night at the Oppenheimer movie, you saw Matt Damon and Emily Blunt and other film stars walk off the red carpet to go make their

signs. And you're seeing these actors stand in solidarity with one another. But this could go on for several months; there is no end in



MELAS (voice over): The actors of Hollywood are on strike.

FRAN DRESCHER, PRESIDENT, SAG-AFTRA: This is a moment of history. That is a moment of truth.

MELAS (voice over): Disrupting the industry in the midst of its critical summer movie season the actors of the forthcoming movie, Oppenheimer

walking out of their premiere Thursday.

FLORENCE PUGH, ACTOR: It's been a really, really tense few days for a lot of people, not just actors, but everybody in the industry who are

going to be affected by this decision, but affected by decision that is necessary.

KENNETH BRANAGH, ACTOR: We know it's a critical time and at this point, the industry and the issues that are involved need to be addressed that

difficult conversation. I know everybody's trying to get a fair deal. That's what -- so we'll support that.

MELAS (voice over): And the actors from the highly anticipated Barbie movie is voicing their support for their union admits their global

promotional tour.

MARGO ROBBIE, ACTOR: Yes, absolutely. No I very much in support of all the unions and a part of sag, so I would absolutely stand by that


RYAN GOSLING, ACTOR: I would support the actors.

GRETA GERWIG, "BARBIE" DIRECTOR: I love the unions, I've always protected all of the artists I know and I really want them to stand

strong and win their fight.

MELAS (voice over): The union has sped up over compensation in the streaming era enough to walk the line.

DRESCHER: We are being victimized by a very greedy entity. I am shocked by the way the people that we have been in business with are treating


MELAS (voice over): The strike crippling a TV and movie business. Already limping during the Writers Guild of America strike, sag after

reps around 160,000 entertainment professionals of all kinds. Along with better pay actor see residuals for past work have dried up in the

streaming era.

Add to that artificial intelligence. Actor say AI threatens their future. The Guild is claiming that studios want to use AI to replace

background actors.

DUNCAN CRABTREE-IRELAND, NATIONAL EXECUTIVE DIRECTOR, SAG-AFTRA: They propose that our background performers should be able to be scanned, get

paid for one day's pay, and their company should own that scan their image, their likeness and to be able to use it for the rest of eternity

in any project they want with no consent and no compensation.

MELAS (voice over): Studios say they've offered the highest percent increase in minimum pay in 35 years, and that the actors aren't seeing


BOB IGER, DISNEY CEO: This is the worst time in the world to add to that disruption.

MELAS (voice over): Disney CEO Bob Iger notes the decline in revenue from traditional platforms and the industry wide struggle to make

streaming a viable alternative.

IGER: There's a level of expectation that they have that is just not realistic. And they are adding to a set of challenges that this business

is already facing that is quite frankly very disruptive.

DRESCHER: How they plead poverty that they're losing money left and right when giving hundreds of millions of dollars to their CEOs. It is




MELAS: There is no end in sight. So this is costing the economies hundreds of millions of dollars. It could potentially cost economies

billions of dollars if there is no resolution. And obviously as you hear SAG-AFTRA, the Writers Guild there on one side, you have the studios

with AMPTP on the other.

And it looks like there is no really meeting in the middle, at least for the foreseeable future. Hopefully, something will be resolved before

mid-fall, or this could really affect what we see in Q1 of 2024. Or else what are we going to be watching? I mean, I love reality TV, but even

some of our reality TV stars; they're also in these unions. So we'll just have to see what happens.

GIOKOS: Yes, it's an important moment, right. So, Chloe Melas, great to have you on, thank you. This is "Connect the World". And we've been

talking about the urgency of the climate crisis across these two hours. When we come back, we'll take a closer look at where investors see the

most promising solutions for the clean energy transition, stay with CNN.



SULTAN AHMED AL JABER, COP28 PRESIDENT-DESIGNATE: When I appreciate that progress has been made over the past years. The incremental steps taken

so far to address the climate crisis are not meeting the urgency of the moment.


GIOKOS: That is Sultan Al Jaber, the President-Designate for the UN Climate Conference set to be held here in Dubai later this year. His

statement is following headline after headline on how dire the climate crisis is. Experts say we have to cut emissions by 43 percent to reach

net zero by 2050 and limit warming to around one and a half degrees Celsius.

It is going to take a lot of money from a lot of different sources to get there. My colleague and the host of this show, Becky Anderson takes

a deep dive into how the private sector looks to scale up funding with three industry experts.


BECKY ANDERSON, CNN CORRESPONDENT: 125 trillion that is how much experts say is needed to reach net zero by 2050. Well, the world is making

progress but it is not happening fast enough. A 2023 report from the International Renewable Energy Agency, for example, found that a record

$1.3 trillion was invested in energy transition technologies in 2022.

But that number needs to quadruple annually to stay on the 1.5 degrees pathway. Well, we are just around the corner from The United Nations

Climate Conference COP28 to be held here in the UAE at the end of the year, ramping up funding will be a key priority. Here's the COP28

President-Designate earlier this year.


JABER: We must supercharge private finance, making it more available, more accessible, and more affordable.

ANDERSON: While the private sector will be key in meeting these finance demands, it is happening. 2022 was a bumper year for Venture Investments

into clean energy with 16.2 billion invested in climate funding. That's more than a quarter of every venture dollar invested in 2022. But that's

nothing like enough.

So what needs to be done to ensure that venture capital can play a key role in the green transition? Well, I have got a truly global lineup for

you today. Here to discuss with me is Anjali Bansal, who is founding partner of Avaana Capital based in Mumbai, in India. Avaana Capital has

the first truly climate dedicated fund out of India.

In the center, we've got Badr Jafar, CEO of Crescent Enterprises and President of Crescent Petroleum based here in the UAE and on my right is

Zachary Bogue, Co-Founder and Co-Managing Partner of DCVC, which has been working in the financing of the clean tech space for more than a


And Zach, let me start with you. There is a sort of general sense that venture capital has been pulling back rather than putting its foot on

the accelerator, especially after the collapse of Silicon Valley Bank, which of course made it played a key role in making loans to companies

with VC funding. What's your perspective on the sector at present, and specifically, investment interest in the clean tech sector?

ZACHARY BOGUE, COFOUNDER, DCVC: The interest is off of its all-time high, which was the past couple of years, but there's still a high clip

of venture capital dollars flowing into clean tech and climate tech in the U.S., obviously, it's a small portion of that was trillions of

dollars that need to be spent. But the nice thing is venture capital is capital efficient.

So our job is to locate and nurture and de-risk these emerging technologies and tee them up for those bigger pools of capital to take

them to scale.

ANDERSON: Locate, nurture, and de risk those opportunities. Anjali, Anjali, just give me your perspective, from where you are sitting in

Mumbai, in India.

ANJALI BANSAL, FOUNDING PARTNER, AVAANA CAPITAL: There is a real need for affordable solutions to promote not just mitigation. So it's not

just about greenhouse gas reduction, which is very, very important. But in the Global South, where we live to also promote adaptation, i.e. the

transition from a high carbon pathway to a lower carbon growth pathway, our economies need continued growth; we still have to pull millions of

people out of poverty.

And the third very important piece is resilience and protection of vulnerable communities. We strongly believe and we are already seeing

this right. India has a lot of technology prowess. We have leapfrogged already in mobile telephony in payments. And we think there's a leapfrog

moment imminent here with technology and innovation to create solutions. If they can work for 1.4 billion people they can work for the world


ANDERSON: Badr let me bring you in at this point. The UAE of course is set to host COP28 in Dubai at the end of the year. The country has faced

a lot of criticism, and frankly an awful lot of skepticism about its motives for wanting to host this event, given that it is a major oil

producer. You like many struggle, the sort of two worlds of fossil fuels and green energy. Can these two be climate bedfellows?

JAFAR: It's important to set out some context here; COP28 in the UAE comes over 30 years since the UN's Convention on Climate Change was

adopted. And what's happened since? Well, despite many lofty announcements, global emissions have gone up 50 percent. But so is the

world's population by almost the same amount.

And by the middle of the century, we expect that the world's population to hit almost 10 billion, with almost all of the additional middle class

likely to be from Asia and Africa. Now I could sit here and complain about the hypocrisy coming from political elites and activists and

nations with 24 hour electricity, who so far contributed the vast majority of cumulative emissions to fuel their own economic and social


I could also sit here and point fingers at the constant failures of many rich nations to abide by their climate finance pledges, with only a

fraction of the 100 billion for a year being honored as droughts and rising sea levels and heat waves.


But I'm not going to do that, Becky, because we need to stop pointing fingers. And we need to stop this reductionist thinking and to focus on

inclusive funding and delivery mechanisms that compound our strengths, our collective strengths to deliver on our climate, to nature goals.

And the UAE really is an ideal place for this inclusive co-creating of solutions. The UAE is a great example of a country that in just two

generations rapidly diversified its economy with over 70 percent GDP to date coming from outside the oil and gas sector.

Now, one final thing just to add, because you mentioned COP28 President Designate, Dr. Sultan Al Jaber, I think in many ways he epitomizes this

opportunity, having served as the UAE's climate envoy for 10 years, as founder CEO of one of the largest renewable energy platforms in the


As Minister of Industry and advanced technology, helping to nurture and scale green tech from the UAE to the world, and more recently leading

the massive decarbonization efforts of our national oil company. So in many respects, I think Dr. Sultan has the potential to be the

Renaissance -- of climate.

ANDERSON: Let's drill down on where the opportunities are in clean tech, and what the challenges and risks are at this point? Zach, what are you

invested in and why?

BOGUE: Look, where our approach to venture capital is called Deep tech. This means we back entrepreneurs that are solving hard, real world

problems with AI. Think of AI is just an incredible tool to help humans make sense of do massive amounts of data that they can't otherwise


I get really excited when we start applying this to doing simulations, the massive scale simulations that's required to bring new types of

energy online. And it's really been enabled by using AI in clever ways to really propel these companies forward in a capital efficient way.

ANDERSON: Anjali, you've just closed the first round some 70 million in funding for your new climate and sustainability fund. So question to

you, same question, what are you looking at why?

BANSAL: Our areas of focus are we have defined them across what constitutes about 90 percent of India's emission, put -- on a similar

number globally also 70 percent of our economy. So three large sectors energy transition and resources, which includes things like of course,

conversion to renewable energy, not large scale platforms, not generation platforms, but technologies that enable off grid, micro grid

carbon capture, carbon accounting, even water for that matter for integral part of energy usage.

Supply chain and mobility, supply chain decarbonization often comes out of efficiencies from digitization, which Lee and I think the global

south is on a big journey, and electric mobility, needless to say, so mobility and supply chains and finally, climate resilient agriculture.

Across the board if you were to think about it, its energy security, food security, and supply chains.

ANDERSON: Badr let me bring you in at this point. Your corporate venture platform CE Ventures has invested something like over $500 million, as I

understand it in tech startups and scale ups over the past five years, including in green tech. What have you been focused on?

JAFAR: Zooming in on our region, the Middle East and North Africa, the report that Crescent Enterprises recently commissioned revealed that

we've seen an 11 fold increase in venture funding towards green tech over the past five years. But I think over 114 new green tech startups

launched and a total of $618 million towards venture funding.

But the data also revealed that climate tech also represents less than 5 percent of venture funding in the region, which of course is

significantly less than the global average of close to 20 percent. So this represents an opportunity. And my belief is that the more we can

debunk the myth, the greener something is, the less profitable it is. The more capital we're going to see flow into this space.

ANDERSON: Zach, how do we avoid what you will be well aware of because you were around and in business at the time. A decade ago, we had a

clean energy boom that went bust. How do we avoid that?

BOGUE: The real issue with that first boom was a sin of capital. There were a lot of folks trying to do project finance scale deals on Venture

Capital scale dollars, and that just didn't work. What's changed now, how can we avoid that same issue is really the application of clever

computational approaches to decrease the cost of these -- bringing these innovations to market. The way I like to think about it is you can

substitute AI for capital expenditure for CapEx.


And if you can do that, you can bring these rapidly accelerate these technologies in a much more capital efficient way.

ANDERSON: Well, it's different this time, Anjali.

BANSAL: I think FinTech 1.0 was perhaps at a point when markets were not ready. Today we are we are actually poised at a perfect moment. Since

technology is ready cost curves have shifted down so that it is affordable and scalable technology. It's sensor costs have come down,

you know, you're generating large amounts of data which can actually be crunched using ML and AI that didn't exist earlier.

And hence you get to better smarter outcomes. Today, markets are hungry for solutions. Companies are hungry for solutions which will not come

from within large corporates, they will come from the innovation world and governments are ready. And very, very importantly, I think civil

society as well as capital providers are ready as well.


JAFAR: I'll keep it simple Becky, this time it has to be an all of the above approach, not an either or approach and also leaving no one behind

the approach. And then again as Anjali has said that really encapsulates the spirit and principles around COP28.


GIOKOS: Brilliant conversation there, at a very urgent time. I'll be back after the short break.


GIOKOS: Welcome back. Since Mattel launched the iconic Barbie doll in 1959, she captured the imaginations of millions around the world. And

now business is booming ahead of the Barbie live action movie next week. Vanessa Yurkevich is a Business and Politics correspondent, has more.


VANESSA YURKEVICH, BUSINESS & POLITICS CORRESPONDENT (voice over): Barbara Millicent Roberts you know her as Barbie, parents, Mattel born

in 1959, but doesn't look a day over 19.

UNIDENTIFIED FEMALE: Everyone had a Barbie, and it was the thing to have a Barbie.

YURKEVICH (voice over): Next week Barbie comes to life in a new movie with an ageless director and actors, distributed by CNN's Parent

Company, Warner Brothers Discovery.

RICHARD DICKSON, PRESIDENT AND COO, MATTEL: It's an incredibly important milestone for the brand.

YURKEVICH (voice over): Barbie beloved by girls and boys around the world has had ups and downs.

DICKSON: Back in 2014, 15 we hit a low and it was a moment to reflect in the context of why Barbie lost relevance, she didn't reflect the

physicality, the look if you will of the world around us.

YURKEVICH (voice over): Now Barbie can and friends have many different skin tones, shapes and special traits that make them look more like us.

But this year's first quarter sales of Mattel slumped down 22 percent from last years.

YURKEVICH (on camera): How is Mattel and Barbie viewed as a brand?

KATIE MANCINI, GENERAL MANAGER, LANDOR & FITCH: There's been a lot of decline and that differentiation and that relevance that keep a brand

fresh and top of mind from a purchase perspective. And when that happens, brands go into a place of fatigue.

YURKEVICH (voice over): Mattel hopes this new movie will give them the boost they're looking for.

DICKSON: We also now have the opportunity to reach new ages and stages that ultimately from a business perspective provides huge merchandising

and monetization opportunities.

UNIDENTIFIED FEMALE: We are standing in front of Barbie.

DICKSON: At -- Toys owner Eileen Geyer (ph) can't keep movie Barbie on the shelf.

UNIDENTIFIED FEMALE: Within a day they were gone.

YURKEVICH (on camera): Have you always had Barbie and Canon in -- in store?

UNIDENTIFIED FEMALE: Absolutely, it's a staple; it's the moms and dads who are more nostalgic than the kids.


YURKEVICH (voice over): But that nostalgia isn't for everyone.

UNIDENTIFIED FEMALE: I don't know how she's evolved like to ship college degree now.

YURKEVICH (voice over): The movie that's calculated for that. And for others, you're never too old for Barbie.

CAROL SPENCER, BARBIE CLOTHING DESIGNER 1963-1998, MATTEL: I am 90 years old. Or I should say 90 years young.

YURKEVICH (voice over): Carol Spencer didn't grow up playing with Barbies.

SPENCER: This was my first project.

YURKEVICH (voice over): But Barbie wouldn't be well Barbie without her.

SPENCER: I was a designer for the Barbie doll starting in 1963 for over 35 years, and I loved every minute of it.

YURKEVICH (voice over): While Carol helps make, Barbie helps make Mattel. As other toys have come and gone, Barbie is still struggling.

SPENCER: Barbie really carried Mattel for great many years. I thought of every child who played with the Barbie doll as my child. So let me tell

you I have a big family. And I love it.

YURKEVICH (voice over): And that is the magic and power of Barbie. Vanessa Yurkevich, CNN, New York.


GIOKOS: Ending the show with a little bit of magic, thank you so much for joining us, have a fantastic weekend.