The past week has seen a flurry of climate news, with several stories of significant relevance. Unprecedented wildfires in Canada and the Amazon, largely attributed to climate change, have contributed to a rise in global CO2 emissions. The frequency of these wildfires has been alarming, emphasizing the urgent need for climate action ([Tyndall Centre](https://tyndall.ac.uk/news/state-of-wildfires-report-2023-2024/?utm_source=rss&utm_medium=rss&utm_campaign=state-of-wildfires-report-2023-2024)). Another alarming study revealed that every 0.1°C of global warming above 1.5°C increases the risk of crossing critical tipping points in the Earth system. This underscores the precarious nature of global warming scenarios, urging the international community to take urgent measures to mitigate climate change impacts ([Eco-Business](https://www.eco-business.com/news/every-01c-of-overshoot-above-15c-increases-risk-of-crossing-tipping-points/)). Notably, China's move to step back from coal power plant approvals after a surge in permits has raised concerns. This marked change aligns with the government's commitment to limit climate change, indicating a positive shift in global efforts to combat climate change ([AP News](https://apnews.com/article/china-coal-plant-approval-permit-greenpeace-72f2c457e3ee6f09aef464a017acae2d)). A crucial piece of climate finance has emerged, with discussions on the potential of a 1.7 to 3.5 per cent tax on the world's top 0.5 per cent as a means to raise substantial climate funds. This innovative approach could significantly support climate mitigation and adaptation efforts, especially in vulnerable nations ([Eco-Business](https://www.eco-business.com/news/who-should-pay-for-the-new-climate-finance-goal-the-worlds-super-rich-says-a-new-study/)). These stories highlight the pressing need for immediate action to address the climate crisis, the critical thresholds at risk of being exceeded, and the shifts in global practices to support climate action.