head of the world economic forum meeting in dub off the warning not to let the cost of living crisis distract from longer term global risks. this is either a business on rocks in berlin. welcome to the program. germany's fossil fuel future brought sharply into focus. dramatic scenes have been beamed around the world as police. claire protested from the tiny mining village of lute, sir rat. it's due to be demolished, to make way for the expansion of a nearby coal mine village in germany's western industrial heartland has become a flash point in a long running battle between protest as demanding radical climate change policies and the authorities. the german government wants to phase out cold by 2030, but says it nevertheless, needs the expanded mind there to make up for lost gas supplies. from russia, of banks and other financial institutions will play a crucial role in transforming the economy towards sustainability. yet they

continue to finance fossil fuel projects. the campaign group, one for one claims that by 2030 banks world wide will hold an estimated $2.00 trillion dollars in fossil fuel assets. the group says that's a dangerous gamble with taxpayer money. one for one is so called because it wants a new rule imposed on banks for every dollar that they invest in fossil fuels. they have to set aside another dollar to cover their own potential future losses rather than relying on the prospects of a government bailout. no one for one says a collapsing fossil fuel market wouldn't only be expensive in cash terms. it could also cost as many as $3700000.00 jobs on this. let's speak to james vaccaro from the climate safe lending networks. great. have you on the program, james? or your support of the idea of one for one, aren't you? so what, what's ultimately the idea of that is it to make lending to fossil fuel projects

too expensive warming. the 1st part, as you sort of said, is that the current way in which a bank lends to anything including fossil fuels, would be to hold back in reserve a certain amount of capital. i guess the risk that that loan is repaid. i am what we're sort of sensing is that given how much fossil fuels we have in the system already, we've already got 7 times the amount of reserves that could possibly fit into a safe climate. to one and a half degree temperature rise. the adding more to that is going to inevitably mean that they're not going to be able to, to fulfill their whole revenue over the life of the project. so in the same way that the, the global financial crisis happened, you're going to get a sudden crash. and if the banks don't hold the capital themselves,

then that bill gets paid by the taxpayers by, by citizens. i was your understanding of where this enormous figure of 3700000 jobs actually comes from cuz it seems big yet. so i mean, then there's been economic analysis, but obviously in terms of the climate change is being a that the transition we could either kind of prepare for this in a gradual way and start to do the transition. all that there's going to come this point where they can become a very sharp shock, and it's not just fossil fuels, but it's the whole carbon intensive infrastructure. the relies upon fossil fuel every machine, every car, and that, that has ramifications. 3, the whole economy in a way, what we're already seeing in europe is the cost of not 0. the cost of not having transitioned and being able to kind of move the transition faster is going to be the best bet for being able to protect jobs and protect economies. there has seems

to be to prevent fossil fuel projects by targeting the financing of them. but with the energy not be better spent in charging in targeting the energy companies themselves are actually carrying out these products and making that less viable for them. i think that it's not exclusively in terms of finance is being able to cut and recognize though that the it is the finance continuing to sort of not differentiate in the right way between the the polluting forms of energy and the clean forms of energy which is providing that kind of continued incentive to continuous some of these legacy project. despite the evidence that we know what we need to do in terms of climate. despite the evidence that in terms of new generation renewable energy is cheaper and cleaner than, than fossil fuels. and pretty much every economy in the world was there's a push for this bond, for one of us was rule from certain quarters. is there any appetite though for it?

is there any size of any one, any governments around the world actually adopting it? so it's currently being debated in the european union. it says there's a proposal in the u. k. there's a proposal in canada. i think that in many senses, central banks have been studying these issues in terms of how to manage climate risks for some years. and one of the, one of the kind of key insights is that in terms of where climate risk is being produced isn't necessarily always the place where those climate risks are showing up. i think that in the same way that you have police pays principals in other areas of the economy, people, policy makers, regulators are beginning to look out. well, maybe we need to be able to address the root causes. how do we stop the flow,

especially into some of these expansion projects which the world doesn't need? right, this is about offering is about stopping the products themselves for the sake of the people who will actually be a felony horizon. mm hm. definitely you can't necessarily control that, james. okay, we're at a time to thank you very much for speaking to us. thank you. now the cost of living crisis risks undermining the fight against climate change. according to the world economic forum at of this is summit in davos. the organization says tackling short term challenges like inflation could come at the expense of dealing with longer term global threats. ah, the cost of living crisis is the biggest risk to the globe over the next 2 years. that's according to the latest survey by the world economic forum. perhaps for many consumers at the reports, findings come as no surprise. prices for everything, keep rising rushes, invasion of agricultural power house ukraine,

caused food and energy costs to skyrocket. supply constrains caused by the pandemic, and subsequent locked downs, contributed to already high prices. these immediate problems are overshadowing the biggest long term challenges, like climate change. it's no surprise search and literally the are all stuck in a crisis mindset and said leads to short term decision making so may have long term and intended damaging consequences. the grim report comes one week ahead of the world. economic forums. annual meeting, davos were leaders and executive strategize, tackling these issues, following closely behind the cost of living are the threats of natural disasters, extreme weather events, and geo economic confrontation. it's

a lot to discuss in 5 days from the comfort of a swiss alpine village. now let's take a look at some of the other global business stories that are making the news. lawyers for f t x have recovered more than $5000000000.00 in liquid assets in their efforts to salvage funds from the bank for crypto exchange. the extent of customer losses, however, is still unknown and a sound background fried is accused of fraud and could face 115 years in prison. guilty deadlines. expect us flight operations to go back to normal on thursday. more than $10000.00 planes were grounded on wednesday, after federal aviation administration, pilots alert system failed. officials say preliminary review is traced the problem to a damaged database file, and there is no evidence of a cyber it. now google says the growth of its android operating system in india is at risk of stalling in the face of regulation. the u. s. company made

the warning and a supreme court challenge are seen by the reuters news agency. in october indian can competition authorities find google a $161000000.00 for exploiting is dominant position with android, which power is 97 percent of smartphones in india. it also ask you go to change restrictions on smartphone makers relating to pre installed apps. let's get a better understanding of this story and speak to our correspondents in delhi, cherry carter k. cherry. great. i'll be on the program and we will. exactly. is it about the way that alphabet operates in india, that regulate into object to well robbed the keys? essentially stems from complains that were a male made by other good competitors, as well as some customers. and it's a, it's a very old case. it's a part of cities of anti trust cases that will faces in india and ages. it's about how google and it's android system came to dominate the operating system market.

and about 10 years ago it was just about 10 percent and now it's over 95 percent. now what this case is about, it's about a, what regulators perceive as, as anti competitive practice as monopolistic practices. and these are essentially about how google makes it mandatory for original device manufacturers to install the full google suite that google full google followed has been over till you have g mail. you have youtube and various other google applications, how it has made it mandatory for mobile manufacturers to install it beforehand. and that that's something that her regulators have had a problem with. apart from that, the search feature how google searches, the default search feature, then there is the problem of side loading. essentially, laura not allowing other apps to be downloaded on the mobile phone via play store. these are some of the many issues that are part of this case, rob, what a striking is just how dominant android is when it comes to smartphone operating

systems in india. house, like you say, more than 95 percent of the market. everything in the u. s. apple has about half of the market and android the other half. so how has andrew managed to be so dominant in india? that's right, rob. as i said, the boat to a decade ago, android was just about 10 percent, and there were so many other mobile operating systems that we have simply not forgotten that, oh, they used to be a simian. they used to be a blackberry. they used to be even a samsung office, but now all of those has have vanished and 95 percent of the market is controlled by google's android. apple also has a big market share, but is significantly lower as compared to android. why apple has not been able to outsmart android is because of, i believe that because of the prices up, apple phones are high in phones here in india and a large number of the people mobile users in the country use a slightly inexpensive mobile phones and android is,

has now become the dominant operating system when all those mobile phones eventually even mobile manufacturers, like samsung, that used to have their own operating systems decided to adopt android and give a good bye to their own operating so. so a mix of various factors and largely led by a inexpensive of the prices of the android system as well as mobile devices that seems to have contributed to android's dominance in the market here. rob, okay, our account again daily forest, thank you very much. we update and that's all from us because i ah, ah, ah, with

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we can make a difference by choosing smart news solutions over stain said in our ways global ideas. the environmental series in global 3000 on d, w, and online ah, this is dw news coming to live from berlin. a fierce bible was underway for a town in eastern ukraine. heavy fighting is reported in solid, dark as ukrainian forces continued to put up resistance. also in the program, poland offers to supply ukraine with german, made the leopard tanks but only as.