A Moody’s publication looks why it was so warm last year and the impacts the effects of global warming will have in 2024.

The publication “Warmest Year; Warmest Months: Climate Change and El Niño Edged the Global Closer to the Paris Accord Temperature Bound” notes that long-term warming trends associated with the increase in atmospheric greenhouse gases, which were then superimposed on the oscillations of the equatorial temperatures across the Pacific: The El Niño Southern Oscillation or ‘ENSO.’

The arrival of a moderate/strong El Niño was declared by the National Oceanic and Atmospheric Administration in June 2023. In an El Niño phase, hot water accumulated at the western edge of the equatorial Pacific spreads across the ocean, liberating vast amounts

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