The International Monetary Fund is to start factoring in climate change to its macroeconomic models from next year, Climate Home has learned. That means its much-cited World Economic Outlook could expose how moves to curb greenhouse gas emissions threaten growth in oil-exporting countries, for example. The Washington DC-based IMF is the world’s leading authority on financial stability, boasting significant influence in the 188 countries it counts as members.
In May, it released a controversial study suggesting fossil fuel subsidies were worth US$5.3 trillion a year. In August, it urged Saudi Arabia to diversify its economy away from oil. Christine Lagarde, head of the organisation, has repeatedly called for carbon pricing to encourage green investment.
For the complete article, please see Climate Home.
For the first time in the survey’s 10-year outlook, the top five global risks in terms of likelihood are all environmental. They are: extreme weather events, failure of climate change mitigation and adaptation, major natural disasters, major biodiversity loss and ecosystem collapse, and human-made environmental damage and disasters.
Millions of people across Sub-Saharan Africa could face grave hunger in the first half of 2020 because of armed conflict, political instability and climate change-linked disasters, a report says.
The report published by the UN World Food Programme (WFP) this month says that the countries affected will require life-saving food assistance and investment to prevent humanitarian catastrophes.
Australia is currently experiencing one of its worst bushfire seasons, with swathes of the southern and eastern coastal regions having been ablaze for weeks. As the fires have spread, there has been extensive media coverage both nationally and internationally documenting – and debating – their impacts. This Carbon Brief overview summarises how the fires – and the political response to them – have been covered by the media.
The latest climate talks unravelled when parties failed to reach consensus on the global carbon market mandated by the Paris Agreement. The carbon market controversy emerged amidst new tensions between a growing grassroots climate movement and the climate sceptic agenda of populist leaders. The ball is now in the court of the climate laggards, but they can only halt global climate action for so long.