david mckenzie. cnn, johanesberg. >> th >> th>> there are practics that we can use right now., while also turning a profit, cnn's bill weir reports. >> reporter: it is easy to suffer from anxiety these days and watching diplomats bickering 20 times, hardly inspired. if you ever need a lift? berber berber berber berbertra >> you see the balloon is quite high over the top of mountain? >> right. >> that's where i took off to fly around the world. he lived up to the legacy by winning a race to become the first to circle the globe non-stop using only hot air and winds. >> it was very emotional because it was my last chance. i had failed twice already. the last balloon and the last opportunity. >> reporter: the record setting balloonist touched down today. and he built a solar airplane and flying around the world on clean, quiet sunlight. >> i speak to you from the cockpit in the middle of the pacific, flying on the solar power only, no fuel. >> he was nuts, he was about transporting a message to show that you can achieve so-called impossible goals with technology and no fuels and n

we have david mckenzie and kevin liptak. the president has committed billions of dollars to develop clean energy. is he going to be able to deliver that after the mid-terms? >> reporter: yeah, well, certainly president biden feels like he's coming into this conference with a lot to talk about. remember, it was only a year ago that the president arrived to last year's climate summit in scotland just as his climate provisions were all falling apart. the president has $370 billion included in a domestic spending bill set aside for combatting climate change. that's the largest in history. he'll try to use that as leverage to try to convince other leaders to make similarly ambitious pledges to spend money to combat climate change. he'll talk about new proposed rules about government contractors cutting carbon emissions, new meth then rules. the president will call on leaders to keep their eye on the ball. there is a dilemma that a lot of other foreign leaders are focused on something else at this summit which is the issue of clim

david mckenzie, cnn, egypt. >>> the asean summit is under way and u.s.sident joe biden is there, you can see him here, he is meeting with the asean chair and cambodian prime minister. and these are live pictures that we're bringing to you. >>> just three days after winning re-election, florida governor ron desantis toured some of the area's worst hit by hurricane nicole. the storm made landfall on the east coast killing at least five. dozens of beach front homes and hotels have been declared unsafe. and thousands of homes and businesses are still without power. one resident spoke with local news shortly after returning home. take a listen. >> i was hoping that it would be a little bit better of a sight. i was hoping that just the two back bedrooms fell this morning, but it tore out the living room walls and the ceiling. so there will be some major rebuild going on. >> remnants of nicole continue to move north, high winds and significant rainfall are expected in parts of the u.s. east coast. >>> a new report is painting a dire picture of the climate crisi

cnn international correspondent david mckenzie is there, and joins us now live. s now live to what president biden is expected to do over there. >> well, sadly, he'll be touching down on air force one in a couple of hours. kim. and the question will be, will the u.s. be able to lead significant climate change action here? the talk before this meeting was that this was supposed to be a climate change conference of action. well we haven't quite seen that yet, i have to say, as world leaders are ramping up their sessions here. still, we need to see evidence of action to try to cut emissions, provide financing for developing countries, and give huge amount of money to developing countries that have been smashed by climate catastrophes this year and into the future. biden is expected to top his own achievements on climate change through the congress. i am sure. but the big question is whether he will bring up egypt humans rights record with the president in his meeting. with president sissi. i spoke to the tree climate envoy to the u.s., secretary john kerry. the issue

cnn senior international correspondent, david mckenzie, is there. joins me now live.sidents agenda and what we are expecting from the u.s.? >> in the short hours air force one will touch down here in shake. president biden, i'm sure, we try to highlight his legislative wins this year terms of moving the u.s. into a more positive plan when it comes to climate change. but there is a massive amount of work that needs to be done. some 45% is needed to cuts on current pledges of admissions to get anywhere close to the paris agreement of 1.5 degrees celsius. that was seen as the threshold to avoiding the worst of the climate crisis so i'm sure the president will be showing off his agenda and trying to show leadership. one of the big issues here that is a fact that china and the u.s., the two biggest emitters, had not been talking. i spoke to climate envoy secretary john kerry and asked them whether formal talks were happening? we're not formally in the negotiating at this point but our hope is that within a short span of time, it will become possible for us to really get to

david mckenzie is live. nations caused the climate crisis, they should help ease the effect on poorer countries. can they come together in agreement here? >> reporter: well, christine, it's pretty powerful argument when you lay it out like that, but of course it requires wealthy countries like the u.s. and the european union to pony up the cash. that's something in this environment that perhaps is a bit of reticence to do that. you've also had this feeling from the u.s. and others, they don't want to be -- get into an issue of open-ended liability. court cases when it comes to other nations suing the u.s. and others to deal with the effects of climate change but the u.n. secretary general flew back into those meetings trying to hammer out the deal in the coming hours. he said that nations need to work together. >> there has been clearly in the past times a breakdown in trust between north and south and between developed and emerging economies. the but this is no time for finger pointing. the blame game is a

cnn's david mckenzie joins us life from egypt. leaders slash their levels and get back on track? >> reporter: well, good morning. i hate to be the bearer of bad news, but if you look at the numbers they make for very bleak reading. the world is nowhere close to meeting those emission targets that will mean that we warm by 1.5 degrees centigrade and could go way hotter than that. if you look just at this year, the climate catastrophes we have been dealing with, hurricane ian in florida, the massive floods in pakistan that already flooded much of the that country leading to massive devastation, scientists have proven that these kind of disasters are worse because of climate change. others like the heat wave in europe wouldn't have happened before. they're impossible without the existing climate change like we're dealing with right now. global leaders from around the world are descending on the red sea to try to hash out some kind of agreements. but as it stands now, all countries need to improve their emissions targets, including th

david mckenzie was touching on it a little bit.ing more for the damage that they've created in terms of the climate. for the first time that issue is actually been included on the formal agenda. how significant is this? are people actually really getting on board? what do you see. >> sort of -- it's been broken. it was a ten-year freezeout. this promise was made over a decade ago that will create $100 billion pot for the countries suffering the worst of this and have tiny carbon footprints, it's the moral thing to do. now biden is promising $11 billion a year by 2024. some of other countries are stepping up. some in europe have already put in. i think scotland was the very first to say, we're in. we owe them. threw a couple million dollars in. it matters for credibility and partnerships and the clip that david played in terms of imagine instead of creating empires the way, you know, it happened a couple hundred years ago, you go to these country, take all of their natural resources, the people are worse off, emergency going in part

david mckenzie joins us now. david, what do you think will tangibly be achieved from the summit? what are the signs suggesting? >> reporter: well, there has been a great deal of discussion, bianca, about funding poorer nations for the impact of climate change that can't be adapted to as we run out of time for the worst climate catastrophes. we've already seen that this year in florida, in pakistan, in the horn of africa and east africa. president biden will be flying in in the coming hours. we'll have to see if the u.s. can push their leadership, obviously what the u.s. and in particular china do in terms of the two biggest emitters is very important both in terms of meeting emissions targets and showing leadership for other nations. but right now there is a deep freeze between the u.s. and china and it runs all the way to climate negotiations. secretary kerry, john kerry the special envoy saying there is no formal discussions going on. that's a problem for people who are watching any kind of progress. the u.s. did announce a carbon credit for corporations to offset their carbon

for more on this let's bring in cnn's david mckenzie in johannesburg. d, i don't want to take away from this landmark deal, but major hurdles remain. >> reporter: major hurdles remain and that means major problems are going to be faced by the planet in the coming years and decades. it is sometimes easy to forget just what is at stake here and what's at stake is really the way we live in the coming years and the temperatures we will have to deal with. as it stands even with the decision to start a loss and damage fund the details will be ironed out later, that is a victory for vulnerable countries, but as it stands the impact of a lack of cutting emissions substantially will be devastating and you did get a sense of frustration from some of the leaders in that summit. >> but i urge you to acknowledge when you walk out of this room that we have all fallen short in actions to avoid and minimize loss and damage. we should have done much more. our citizens expect us to lead. that means far more rapidly reduce emissions. that's how you limit climate change. >>

cnn's david mckenzie in johannesburg.ots of questions about how this will actually work. >> that's right. but it is worth pausing for a second. this issue of loss and damage was something that they struggled to get onto the discussion table, and through the night there were negotiations into the morning on sunday, and it was a significant victory for developing nations to get this agreed upon through consensus. it means over the next year there will be technical experts figuring out how to do it. but in essence it means they will set up a fund, one hopes, where rich nations and others will help fund those developing nations that are dealing with the worst impacts of the climate crisis. here's one conference goer who describes why it's so important. >> translator: it is a symbolic day in terms of the impact this decision will have on the future. developing countries have been fighting for 30 years to have a fund, to have recognition of the losses and damages associated with climate change. >> if you were to give a report c

let's get you more now by bringing in cnn's david mckenzie who is in johannesburg. 's an acknowledgment that the world has been unable to stop the worst effects of climate change because vulnerable countries, and you see the disasters that just this year the flooding in pakistan, the ongoing drought in the horn of africa and east africa, these nations and regions don't have the funds to deal with these disasters and the system of aid isn't enough. and so it is an acknowledgment that not enough, excuse me, has been done to stop the climate crisis and this fund, though the details are scant at this stage, is very important because it is an official reckoning from wealthier countries that they need to do their part. but if you look at the report card of this meeting, it is decidedly mixed. despite the loss and damage fund being approved there's also the sense that there's not enough being done to cut emissions, to stop the worst ravages of the climate change that we are facing, increasing in the next few years. there's also surprisingly maybe to those watching no mentio

david mckenzie is in egypt at this hour.e huhheriearing from the leaders gathering there. >> what we're hearing from leaders and those pushing for change is action, action, action. and a lot people telling me talk is not enough. there needs to be a change and it needs to come fast. if you look at emissions targets, we are blowing past what we need to do in terms of keeping the temperatures to a liveable level. the world needs to cut emissions by 45% to get to the paris agreement target that would mitigate some of the worst impacts of the climate change. earlier, vice president al gore gave a impassioned speech, said there was a trust deficit between the global population and the leaders who are trying to make this happen. >> we have a credibility problem. all of us. we're talking. and we're starting to act. but we're not doing enough. it is a choice to continue this pattern of destructive behavior. we have other choices. >> reporter: one of the biggest areas of contention, i think, kate, is the discussion between developing

david mckenzie is live in egypt for us. he joins us now. he overall global effort to try to make progress in tackling the climate crisis? >> kate, they're critical. both the u.s. and china, the world's two biggest emitters need to talk to provide leadership to other countries like here at the climate meetings to toe the line, to get to where we need to get to avoid the climate crisis, i also spoke with secretary kerry, the climate envoy of president biden and asked him about this new initiative by the u.s. to use carbon credits to offset the companies around the world. he says despite the criticism, it's important to have the funding out there. take a listen. >> once the rules get fully worked out and everybody is in a comfort place, hopefully this will be implemented because we desperately need the money. there is not enough money in any country in the world to actually solve this problem. it takes trillions and no government that i know of is ready to put trillions into this on an annual basis. that's what the scientists and the u.n. finan

cnn's david mckenzie joins us from egypt.l chorus from developing nations asked to carry too much of this. >> reporter: well, carry too much weight with the emissions drops and big deal with the brunt of the climate catastrophe, max. world leaders are streaming in this morning. there will be tense negotiations behind the scenes specifically on the issue that you're talking about. if you look at the emissions goals, the planet is just not meeting them. we're going to blow well past 1.5 degree threshold agreed in the paris agreement and emissions are still growing. as it stands, we are more likely with current commitments to get over 2 degrees warming, well over that. that will mean a massive species dieoff. it will change the way we live. so there is a sense of urgency amongst the delegates and a sense of urgency from developing nations. they managed to get on to the negotiating table. this issue that they call a tas it understanding that the impact of climate change cannot be completely stopped. and they need a lot of money t

david: i wonder, mckenzie a firm you worked before hire any of those people with their lack of experience? reporter: no comment. david: a wise choice but i think the answer is no. kelly, thank you very much, i appreciate that. our next guest was an ftx investor who tried to withdraw his money but to no avail, now has lost over $2 million since the collapse of ftx. evan luther joins me. good to see you. i know you put the best face on things. i appreciate your attitude but when you hear about the inexperience of the people that were in charge of your money, did it make you wonder whether you had done enough due diligence before relying on these people? >> i think there is definitely the fact that they were young people but you can't hit on people for being young, right? david: i'm not hitting being young. i'm hitting for them having no experience according to the experts who looked into their background. >> that biggest companies today were built by young people, facebook, meta, even examples of the markets, snapchat. they were all built by young people. billion dollar entities. what happe

david: even people at the forefront of the green energy and mckenzie and company.ey came out with a report saying the gulf of mexico could supply one to two million barrels a day of new oil supply with important implications for the u.s. economy and global emissions. why it's important for global emissions is as phil pointed out, the oil we get from the gulf of mexico burns cleaner than just about any oil in the world. why aren't we doing more here to mother and father oil? manufacture oil? >> good for the jobs and economy and environment. phil mentioned we do it the best here in america and the reality is that venezuela's climate emissions profile from an oil standpoint is 50% higher than the oil production here in the united states and the gulf of mexico has been emblematic of what it could mean for emergency production, tourism and conservation in the revenues they get from the production going into a number of conservation efforts in the gulf coast and across america. this is what we could be doing more of here in the united states and the biden administration

david: in just the gulf of mexico there was a really extraordinary report from mckenzie & company that a month ago showing if we just increased oil production in the gulf of mexico, we could increase by 2 million-barrels a day domestic production. that would put us over that not only makeup for the million dollars we've lost, but give us an extra million barrels, but the administration is talking about cutting back in the gulf. >> yeah, it's amazing and if you look at the gulf of mexico, it's really self-defeating when it comes to the environment. in fact, gulf of mexico oil production has less impact on greenhouse gas emissions in any form of oil production in the world so this is just crazy. this is when you let ideology come over science and the science is we're going to need oil and we should get it from the sources that are the cleanest instead of looking to places like saudi arabia where they don't like us that much and we don't get along with them and they aren't very clean. david: finally something else that doesn't seem to make any sense on the energy front. this reparations t