Last year was officially the hottest ever recorded. Global temperatures in 2024 surpassed 1.5 degrees Celsius of warming since the Industrial Revolution began, a symbolic but dangerous marker of a warming planet. POLITICO’s Zack Colman breaks down the news and why the future of U.S. climate action on both the domestic and international front appears bleak. Plus, the Treasury Department is laying the groundwork for industry to claim the new clean fuel tax credit created under Democrats’ climate law — but key decisions will be left to the incoming Trump administration.

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