We must help developing countries escape commodity dependence

This article is brought to you thanks to the collaboration of The European Sting with the World Economic Forum. Author: Pamela Coke-Hamilton, Director, Division on International Trade and Commodities, United Nations Conference on Trade and Development (UNCTAD) Commodities are the basic products that underpin both our material progress and our everyday lives. – from the cereals at your table, […]

Public climate finance to developing countries is rising

This article is brought to you in association with OECD. Public climate finance from developed to developing countries totalled USD 56.7 billion in 2017, up 17% from USD 48.5 billion in 2016, according to new data compiled by the OECD. A new data series for 2013-2017 shows that public climate finance has risen by 44% from […]

Cutting money transfer fees could unlock $15bn for developing countries. Here’s how

This article is brought to you thanks to the strategic cooperation of The European Sting with the World Economic Forum. Author: Alan Safahi, CEO, ZED Network The turn of the century marked a period of rapid migration: the total number of international migrants has increased by 60% since 2000. With more than 250 million immigrants and migrant workers […]

COP21 Paris: The Final Agreement Adopted-full text

+ United Nations FCCC/CP/2015/L.9/Rev.1 Distr.: Limited 12 December 2015 Original: English Conference of the Parties Twenty-first session Paris, 30 November to 11 December 2015 Agenda item 4(b) Durban Platform for Enhanced Action (decision 1/CP.17) Adoption of a protocol, another legal instrument, or an agreed outcome with legal force under the Convention applicable to all Parties […]

COP21 Breaking News_12 December: 195 countries adopt the First Universal Climate Agreement

“I hear no objection in the room, I declare the Paris climate agreement adopted.” It was with these words, on Saturday, 12 December, that Laurent Fabius closed the fierce negotiations that had been underway for two weeks in Le Bourget. A long standing ovation and shouts of joy followed in the room where the 195 […]

COP21 Breaking News_12 December: The New Draft Agreement!

United Nations FCCC/CP/2015/L.9/Rev.1 Distr.: Limited 12 December 2015 Original: English Conference of the Parties Twenty-first session Paris, 30 November to 11 December 2015 Agenda item 4(b) Durban Platform for Enhanced Action (decision 1/CP.17) Adoption of a protocol, another legal instrument, or an agreed outcome with legal force under the Convention applicable to all Parties ADOPTION […]

COP21 Breaking News_12 December: Another sleepless night for the negotiators before Indaba meeting

The Paris Committee met on Thursday, 10 December at 9 p.m. to receive the new version of the text, which was the result of a sleepless night and a day of intense negotiations. This new text (read the draft agreement) was slightly shorter than the previous version, reduced from 29 pages to 27, with some complex points still […]

COP21 Breaking News_10 December: the final sprint of the Final Agreement Negotiations

The latest meeting of the Paris Committee at 8 p.m. on Wednesday 9 December was eagerly awaited, with the “La Seine” plenary room filling up quickly. The 196 Parties had to say if they would agree to work on the new text set out a few hours earlier by COP21 President Laurent Fabius. This was […]

COP21 Breaking News_10 December:#ParisAgreement: Points that remain in suspense

Objectives and level of ambition of the agreement, financial support for countries of the South, and burden sharing between developed and developing countries are all difficult issues that remain to be decided on by Friday, the end of the Climate Conference, which should produce a universal pact to combat climate change. – An “ambitious” agreement? […]

COP21 Breaking News_10 December: UN Climate Chief Calls for Final Push to Meet Adaptation Fund Goal Very Close to Target

Paris, 10 December 2015 – UN climate chief Christiana Figueres today called for a final push to meet the funding goals for the Adaptation Fund, which assists vulnerable communities in developing countries adapt to climate change. The Adaptation Fund has received new pledges for 2015 amounting to almost $75 million, including from Germany, Sweden, Italy, […]

COP21 Breaking News_09 December: The Draft Agreement Updated

DRAFT PARIS OUTCOME A. DRAFT AGREEMENT DRAFT TEXT on COP 21 agenda item 4 (b) Durban Platform for Enhanced Action (decision 1/CP.17) Adoption of a protocol, another legal instrument, or an agreed outcome with legal force under the Convention applicable to all Parties Version 1 of 9 December 2015 at 15:00 [The Parties to this […]

COP21 Breaking News_09 December: List of Recent Climate Funding Announcements

A number of climate funding announcements by developed country governments, multilateral development banks and multilateral climate funds have been made in the run-up to and at the COP 21 UN climate change conference. The secretariat of the UN Framework Convention on Climate Change (UNFCCC) has compiled the list below from public sources and produced an interactive […]

COP21 Breaking News_08 December: Global Business Community Comes to Paris with Solutions for Taking On the Climate Challenge Across the Board

Paris, 8 December 2015. Nearly 400 business leaders gathered at the Lima-Paris Action Agenda Focus on Business in Paris today, calling for a strong Paris climate change agreement to help them implement the unprecedented set of cross-cutting corporate actions on climate which they are taking in key areas such as carbon pricing, finance, responsible policy engagement […]

COP21 Breaking News_08 December: Cities & Regions Launch Major Five-Year Vision to Take Action on Climate Change

Cities, regions, national states, public and private investors and international organizations are together accelerating the transformation at local and regional scale Subnational authorities are largest group on NAZCA climate commitments platform with over 2200 entries Paris, 8 December 2015. Cities and regions from five continents representing almost one-fifth of the world’s population came together today […]

COP21 Breaking News_08 December: Cities & Regions Launch Major Five-Year Vision to Take Action on Climate Change

Cities, regions, national states, public and private investors and international organizations are together accelerating the transformation at local and regional scale Subnational authorities are largest group on NAZCA climate commitments platform with over 2200 entries Paris, 8 December 2015. Cities and regions from five continents representing almost one-fifth of the world’s population came together today […]

COP21 Breaking News_07 December: “The world is expecting more from you than half-measures”, UN Secretary General Bank Ki-moon cries out from Paris

“The clock is ticking towards climate catastrophe,” warned the UN Secretary-General, Ban Ki-moon, at the opening of the High-Level Segment on Monday, 7 December. “The world is expecting more from you than half-measures,” he told the delegates in the plenary room “La Seine”, calling on the countries to agree to their commitments being reviewed every […]

COP21 Breaking News_07 December: “Remove Roadblocks to Climate Action”

Paris, 7 December 2015- The High-Level, ministerial segment of the UN Climate Change Conference in Paris kicked off today with calls to action to conclude an effective climate change agreement at the end of the week and a sense of confidence that this can be done. UN Secretary-General Ban Ki-moon reminded Ministers of the direction […]

COP21 Breaking News_05 December: UN Secretary-General Announces “Climate Action 2016” Partnership

On Action Day at the 21st Conference of the Parties to the United Nations Framework Convention on Climate Change (UNFCCC) in Paris, UN Secretary-General Ban Ki-moon announced that a broad group of organizations would partner in 2016 to maintain momentum for multi-stakeholder climate implementation. The Secretary-General said: “I am heartened by the significant and growing coalitions […]

COP21 Breaking News_05 December: Ban Ki-Moon Closing Address at COP21 Action Day Innovation, Imagination, Faster Climate Action

UN Secretary-General Ban Ki-moon gave the following address at the close of COP21 Action Day in Paris: “I thank President Hollande for convening this gathering, and for France’s engagement as one of the co-leaders of the Lima-Paris Action Agenda, along with Peru, the United Nations and the UNFCCC. I have been looking forward to Action […]

COP21 Breaking News_05 December: Carbon Price Needed for Climate Change Success

Putting a price on carbon is essential for success in the international response to climate change, said participants in a COP21 side event. Without a price, recognizing and charging for the damaging effects of emitting greenhouse gases, efforts to address climate change will be inefficient and likely too slow to avoid its worst effects. Pricing […]

COP21 Breaking News_05 December: Children Will Bear the Brunt of Climate Change: UNICEF

More than half a billion children live in areas with extremely high flood occurrence, 160 million live in high drought severity areas. New York/Geneva, 24 November 2015 – More than half a billion children live in areas with extremely high flood occurrence and 160 million in high drought severity zones, leaving them highly exposed to the […]

COP21 Breaking News_04 December: Commitments Made to Reduce Black Carbon, Methane and HFCs

Cutting Short-Lived Climate Pollutants Critical to Success of Global Climate Response Paris, 4 December 2015 – Governments and industry leaders in the Climate and Clean Air Coalition today committed to further essential advances in reducing short-lived climate pollutants (SLCPs) that have a global warming potential many times that of the main greenhouse gas carbon dioxide. At the […]

COP21 Breaking News_04 December: Building a Sustainable Future – speech by UNEP Deputy Executive Director Ibrahim Thiaw at the LPAA Thematic Event on Buildings

“Today is about coming together to agree a better future for the building sector and credible action for climate change. But tomorrow and the years ahead must be about coming together to deliver them in the context of 2030 Agenda for Sustainable Development.” Ministers, Excellencies, Ladies and Gentlemen, the Minister has well established the building […]

COP21 Breaking News_04 December: Launch of CREWS, climate risk & early warning systems

In poor and vulnerable countries, weather data is often unreliable or totally lacking. CREWS is an initiative which aims to significantly increase the capacity for seamless Multi-Hazard Early Warning System (MHEWS), to generate and communicate effective impact-based early warnings, and risk information for hazardous hydro-meteorological and climate events. Its purpose is to protect lives, livelihoods, […]

Greener economies and investment to reduce unemployment and increase global growth

In less than a month now the UN Climate Conference will be taking place in Paris in order to implement measures that could reverse the downhill of the global climate. At the same time the Corporate Europe Observatory’s survey reveals that the European Commission (EC) is highly promoting the “dirty” energy companies more than the renewable […]

ECB ready to counter the rise of the euro?

As expected by many, the European Central Bank left its basic interest rate unchanged at 0.25%. However, Mario Draghi, the President of ECB, raised the tone of the central bank’s readiness to confront possible unfavorable developments in the money markets. Presumably he has in mind the risks which may arise in international money markets, from […]

The US banks drive the developing world to a catastrophe

How is it possible that the good news of the growth of the American economy which has raised its gear, also brings forth crisis and possibly destruction in developing countries? Yet this is exactly what is already happening in our brave new world. The good news is that the US economy now grows at a […]

OECD tells Eurozone to prepare its banks for a tsunami coming from developing countries

OECD is not like the IMF. The Organisation of Economic Co-operation and Development, unlike the International Monetary Fund doesn’t chew its words, when it comes to the economic prospects of the global economy. The reason is that its mandate obliges the Organisation to effectively protect its 34 member states from the dangers lurking ahead, by […]

G20: Less growth, more austerity for developing countries

  IMF – World Bank’s annual meetings and the G20 Finance ministers and central bank governors gathering in Washington D.C. this weekend proved two things; first that the world is more divided now, in the aftermath of the financial crisis and second and more important that the labouring millions of the globe in developing and […]

Lagarde: Keep feeding the banks cut down wages and food subsidies

Lagarde to the world: Keep feeding the banks with zero interest rate cost money, further trim down workers’ rights in the developed world and reduce subsidies on foodstuffs and utilities in developing countries. This was in short what the managing director of IMF had to say, ahead of the 2013 World Bank-IMF Annual Meetings, when […]

More unemployment and lower wages to make European workers competitive?

The statement that unemployment constantly increases in the European Union has become a banal observation during the past three crisis years. When however it comes to long-term unemployment, comprising workers without a job for more than one year, the end result can be that the labour force of this country or region is reduced by […]

IMF: The global economy keeps growing except Eurozone

IMF’s research department published yesterday its latest report on World Economic Outlook (WEO), with good news for the global economy and bad news for Eurozone. Actually, Olivier Blanchard, IMF’s chief economist and director of its Research Department, was quoted as saying that because of Eurozone’s problems, “We have moved from a two-speed recovery to a […]