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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Climate adaptation has been praised for its potential for contributing to peace. It is highlighted for the potential to remake systems and equip the world to better cope with the impacts of climate change. However, these remain hopeful claims until rigorous research is done on how this might take place and what type of peace we might expect to result from the implementation of climate adaptation.
Almost 200 states have agreed on measures to limit global warming in Katowice, Poland, after a two-week marathon of negotiations. The state representatives participating at the Conference of the Parties (COP24) agreed on a 156-page rulebook on Saturday night, listing measures and controls to limit the global rise in average temperatures to well below two degrees Celsius.
Responding to climate change has become more urgent than ever. Cooperation within communities is a precondition for urban resilience, as recurring heatwaves and hurricanes cannot be put down to chance any more. Lou del Bello argues that part of the response to disaster risks lies in digital communications, which will help build preparedness from the bottom up.
This year’s annual UN climate conference concluded late on Saturday evening in Katowice, Poland, after two weeks of tension-filled talks.