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🌡️ Europe Warms 2x Faster. $121M Teacher Training Funding. Semiconductor Industry.

Chart of the Day #97 looks at Teacher Training Support, Global Temperature Anomalies, and the Semiconductor Market.


The economic damage caused by climate change is six times worse than previously thought with a 1°C increase in global temperature leading to a 12% decline in world GDP, according to a study. The US plans to increase tariffs on Chinese imports of semiconductors in 2025 by 100% to support American semiconductor firms and maintain the US's technological competitiveness.

Today's Topics

💰 Teacher Training. The World Bank tops teacher training donations at $121M
🌡️ Global Temperature. Europe's warming rate doubles the global average
💻 Semiconductors. Intel records the highest 2023 revenue in the semiconductor sector

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💰 The World Bank Tops Teacher Training Donations at $121M

The World Bank has consistently emerged as the largest donor for teacher training, averaging an annual contribution of $121 million over the past decade, surpassing the contribution of the second-largest donor, the UK, which provides $50 million annually. Government investment is key to sustaining a well-qualified and adequately supported teacher workforce which plays a vital role in improving the quality and resilience of educational systems. However, in many low-income countries, constraints on the education budget often limit investments in initial teacher education, continuous professional development, and enhancements in working conditions and infrastructure, after covering teacher salary costs. Projections indicate that nearly 158 countries may face a shortage of secondary education teachers and 119 countries in primary education by 2030. Hence, adequate funding and training are necessary to academically qualify individuals to mitigate the projected shortage.

🌡️ Europe's Warming Rate Doubles The Global Average

Recent research indicates Europe is becoming the fastest-warming continent as global temperatures rise. This trend is worsened by its proximity to the Arctic and polar regions, which experience more intense effects of climate change. The continent has experienced an unparalleled rise in heat, with temperatures escalating by around 2.3°C since the end of the 19th century, doubling the global norm. Over the last four decades, a rise in extreme weather occurrences like storms, heatwaves, and floods has resulted in notable human casualties, particularly in Europe, where heat-related fatalities have increased by 30% in the past 2 decades.

Climate change brings diverse challenges to Europe, impacting human health, glaciers, the economy, and energy. Hence, adaptation measures like resilient infrastructure and natural solutions are vital. Yet, Europe needs to update its standards for the structural design of buildings and civil engineering to address growing climate risks. The European Union is committed to combating climate change through targets for renewable energy, energy efficiency, and proposes to cut down net greenhouse gas emissions by 90% by 2040.

💻 Intel Records Highest 2023 Revenue in the Semiconductor Sector

Intel generated over $50 billion in revenue in 2023, accounting for 9.4% of the semiconductor market. The company is, however, facing significant challenges, with a 15% decline in revenue from $60.8 billion in 2022.15% decline Intel's foundry business (semiconductor manufacturing) also reported an operating loss of $7 billion on sales of $18.9 billion last year, compared to a loss of $5.2 billion on sales of $27.5 billion in 2022. Consequently, Intel's share prices dropped significantly after disclosing these financials. In contrast, Nvidia is closing the revenue gap with Intel, having declared a gross revenue of $49 billion for 2023, capturing 9% of the market. This marks a 133% increase from its 2022 revenue of $21 billion. Nvidia's prominence in the tech industry has been solidified by the growing demand for large AI models, establishing the company as a key player in server development with its high-end graphics processors. Its market capitalization also reached a new high of over $2 trillion in 2024, surpassing Alphabet to become the third most valuable US company, following Microsoft and Apple, placing it above the combined GDP of Australia and New Zealand in terms of valuation.

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