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.
In this interview, EcoPeace Directors Nada Majdalani (Palestine), Yana Abu-Taleb (Jordan) and Gidon Bromberg (Israel) explain why disengaging from a shared environment can aggravate the region’s security challenges.
At the conclusion of the 50th Pacific Islands Forum, Pacific leaders issued a Forum Communiqué and the ‘Kainaki II Declaration for Urgent Climate Change Action Now’ – the strongest collective statement the Forum has issued on climate change. Pacific leaders highlight the UN Secretary-General’s Climate Action Summit, the SAMOA Pathway Review, and 25th session of the Conference of the Parties (COP 25) to the UNFCCC as “global turning points to ensure meaningful, measurable and effective climate change action”.
If ratified, the Mercosur-EU trade deal may reinforce the parties’ commitment to climate action. Yet, its potential relevance is weakened by a language that often stops short of concrete commitments, as well as political resistance.
Iraq is on the verge of an environmental breakdown, and climate change is not helping. The country's fragile environment and the increasing scarcity of natural resources — particularly water — are a result of poor environmental management, as well as several political and historical factors. However, as climate change impacts add to the existing pressures, the environmental collapse turns into a security issue.