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.
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Russia’s economic development minister warned last week that the EU’s plans to deploy a carbon tax at the bloc’s borders will not be in line with World Trade Organisation (WTO) rules, just as Brussels doubled down on the idea of green tariffs.
The pandemic and racial justice protests call for justice and crisis preparedness – an opportunity also to act on climate change. Successfully taking advantage of this momentum, however, requires a climate strategy that ensures everyone has a voice and a stake. Here, Paul Joffe builds on a previous correspondence about how to begin that effort in this time of crisis.
Few places have suffered more from the COVID-19 pandemic than southern China, the region where the novel coronavirus was first detected in the city of Wuhan. But it turned out that the pandemic is not the only calamity to befall south China this year. The region has been inundated by heavy rainfall since late May, creating a risk of catastrophic flooding.
Natural resources-based conflicts are sometimes made complex by non-climate push and pull factors, like unemployment and political tension. These factors should be taken into account when developing and implementing a peacebuilding strategy, making sure all stakeholders are at the table – including those fueling the conflict. The online workshop ‘Integrating peacebuilding and climate change mitigation efforts in natural resource management’, organised by the European Peacebuilding Liaison Office (EPLO) and adelphi, looked into this complex issue.