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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South Asia’s vulnerability to climate change and associated fragility risks calls for a regional approach to climate services. Different actors need to cooperate to share actionable climate information—the security architecture in the region would benefit.
With cities continuously more threatened by climate change-induced disasters, urban planning’s reflex response is to protect cities against nature. But what if the solution lies in working with nature instead against it? Architect Kongjiang Yu invites readers to imagine what cities could look like if they took into account ancient wisdom on spatial planning.
During the past two weeks, Antigua & Barbuda, Nicaragua and Panama ratified the Escazú Agreement, giving a major boost to the unprecedented and innovative Latin American pact that seeks to reduce social conflicts and protect frontline communities in the world’s deadliest region for environmental defenders.
UN Secretary-General António Guterres outlined priorities for the 26th session of the Conference of the Parties to the UNFCCC (COP 26) during a briefing at UN Headquarters. The briefing was hosted by the UK, which will be assuming the COP 26 presidency in partnership with Italy. COP 26 is scheduled to convene from 9-20 November 2020, in Glasgow, UK.