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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In some areas of the world, including Central America, rising sea levels and declining agricultural productivity due to climate change are expected to trigger major migratory flows, especially within countries. The role of policy-makers is it to promote local solutions while engaging in regional cooperation for a preventative approach.
What outcomes do the agreements achieved at COP24 hold for cities and regions? Despite the decisive part the so-called non-state actors play in achieving the international climate goals, their role hasn't been formally recognized by the UNFCCC.
The Kigali Amendment to the Montreal Protocol, concluded in October 2016, has entered into force on January 1st, 2019. Its 65 signatories are now on the fast track to significantly reducing the use of harmful greenhouse gases in the production of cooling devices, representing a major step towards achieving the goals of the Paris Agreement. After a season of unsatisfying climate negotiations, the amendment's implementation marks a time of action and reminds the international community why climate diplomacy ultimately pays off.
In many ongoing armed conflicts, water has been used as a weapon of war, but it can also be a strong instrument of peace.