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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Global progress towards achieving the SDGs is slow, and for many targets, off track. While SDG implementation is primarily a national task and responsibility, it also requires concerted international cooperation. This article presents two arguments why foreign policy could play an important role in their achievement.
No country is immune to natural hazards, but for fragile states, the effects are even more severe. Mostly, conflict prevention and humanitarian aid are seen as more pressing priorities to protect livelihoods there. This pushes efforts of climate change adaptation and disaster risk reduction to the bottom of the priority list and results in compounded pressures.
As the debate over climate-related security risks grows, many Pacific Island States are calling for more action by the international community to better address the links between climate change and global security. In an interview with adelphi, the former President of Nauru, Baron Waqa, highlights some of these calls as well as the challenges in getting the climate-security issue on the UN’s agenda.
A record breaking European heatwave provided a fitting backdrop to the latest round of UN climate change talks, in which delegates from around the world descended on Bonn for a two-week diplomatic effort.