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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“I want you to panic”. This was the message that 16 year-old climate activist Greta Thunberg gave to the World Economic Forum in Davos on 25 January, and in it she struck right to the intergenerational justice issue at the heart of the sustainability project.
The Hague Declaration on Planetary Security signed in 2017 outlines six action areas that require special attention, necessitating “concrete steps” at both global and local levels.
At COP24, India-based Sheela Patel from SPARC talked to Lou del Bello about how climate change affects people in informal settlements the most – and about strategies to address their special needs.
Climate change has been identified and recognized as a security issue and a threat multiplier by the international community, and climate security is now an integral part of security agendas in key international fora from New York to The Hague and Munich. As 2019 kicks off, action and implementation on climate security take centre stage.