Mark Carney, the governor of the Bank of England, has become the latest person to deliver a blunt warning about the risks of climate change to global financial stability. Speaking at Lloyd’s of London, Carney warned that “the catastrophic impacts of climate change will be felt beyond the traditional horizons of most actors – imposing a cost on future generations” and that “climate change will threaten financial resilience and longer-term prosperity.”
His speech came as the Bank of England published a report on the impact of climate change on the British insurance industry, to be presented to the UK government, and sees the governor join a host of economic figureheads warning about the risk of continued reliance on dirty fossil fuels.
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To fight illegal coca plantations and conflict actors’ income sources, Colombia’s president wants to loosen the ban on aerial glyphosate spraying. However, considering the dynamics of organised crime, the use of toxic herbicides will not only fail to achieve its aim, it will have many adverse effects for the environment and human health, fundamentally undermining ways to reach peace in the country. International cooperation and national policy-makers need to account for this peace spoiler.
As India grapples with the worsening impacts of climate change, the need to strengthen its adaptation efforts has become more significant than ever. Climate diplomacy and mainstreaming climate adaptation into the most vulnerable sectors could provide some solutions to overcoming barriers, such as the lack of sustainable funding.
“Climate Security risks will materialise in very different ways and forms, whether we talk about Lake Chad or about the Arctic, Bangladesh and the Small Island Developing States,” said the EU’s Ambassador to the United Nations in New York, Joao Vale de Almeida, in his opening remarks. “But for the EU, there is no doubt, as underlined in 2016 in our Global Strategy, and reaffirmed by the 28 Ministers of Foreign Affairs, that climate change is a major threat to the security of the EU and to global peace and security more generally,” he said.
The challenges facing the international community are growing while the willingness to cooperate seems to be waning. Foreign policy must help bridge this gap. One way to accomplish this is by pushing forward a major achievement of multilateralism: the 2030 Agenda and its 17 Sustainable Development Goals. At a side event during the 2019 High-Level Political Forum, diplomats and policy experts discussed the role of foreign policy in the global sustainability architecture.