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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We are entering the last days of the BCSC 2020, with insightful discussions on a number of climate security challenges still to come, as well as the launch of our “21st Century Diplomacy: Foreign Policy Is Climate Policy” essay series. Building on the high-level political Part I of BCSC 2020 back in July, this second part aims to bring together the field’s various actors in the realm of climate, development and security policy in one digital space to meet the strategic goals of sharing good practice on what works on the ground and help inform policy processes.
The novel corona virus has had the world in its grip for months. Most countries’ immediate response was to focus on internal issues: they resorted to nationalistic approaches, closing borders and even competing for equipment, even though a multilateral approach was necessary. In the longer term, will this crisis strengthen the ties between nations? Or exacerbate the flaws of today’s multilateralism?
The pandemic and racial justice protests call for justice and crisis preparedness – an opportunity also to act on climate change. Successfully taking advantage of this momentum, however, requires a climate strategy that ensures everyone has a voice and a stake. Here, Paul Joffe builds on a previous correspondence about how to begin that effort in this time of crisis.
Now in its second decade, the ambitious African Union–led restoration initiative known as the Great Green Wall has brought close to 18 million hectares of land under restoration since 2007, according to a status report unveiled by the UN Convention to Combat Desertification (UNCCD) at a virtual meeting on Monday, 7 September.