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During the OPEC heads of state meeting, the organization expressed support for the fight against global warming and maintaining stable oil prices. However, only Saudi Arabia has promised to contribute $300 million for climate change research. Other leaders have not made any similar commitments, with Algerian Energy and Mines Minister Chakib Khelil stating that they are not committing anything until they have more information about the proposal. OPEC Secretary-General Abdullah al-Badri stated that OPEC is willing to contribute to the development of carbon capture and storage technology to help reduce emissions. A draft final communique read by an OPEC delegate over the telephone mentioned the group's concern about climate change as a long-term challenge and their goal of maintaining stability in global energy markets, but did not reference an environmental fund. Venezuelan President Hugo Chavez expressed his expectation that the summit would confirm a commitment to stable and competitive oil prices. He also cautioned that if the United States were to attack Iran or Venezuela, crude oil prices, currently around $100 per barrel, could potentially double on the global market. Chavez made these remarks to heads of state, including Iranian President Mahmoud Ahmadinejad, during a meeting in Riyadh, Saudi Arabia. Concerns that the United States or its ally Israel may launch an attack on Iran, which is accused by Washington of secretly trying to build nuclear weapons, have contributed to the surge in global oil prices. Despite calls from consumer nations for OPEC to increase crude supply, a decision on this matter will not be made until a meeting in Abu Dhabi on Dec. 5. Iran and Venezuela are viewed as supporters of high oil prices, while Saudi Arabia has typically been more willing to listen to Western requests to lower prices. Ecuador's President Rafael Correa suggested at the conference that oil should be priced in a currency other than the dollar. The decline in the value of the U.S. currency compared to other major currencies has contributed to the rise in oil prices to $98.62 last week, but has also diminished the purchasing power of the Organization of the Petroleum Exporting Countries (OPEC). During the summit, Saudi Arabia led the group in rejecting a proposal by Iran and Venezuela to address concerns about the weakening dollar in the official statement. Analysts believe that Saudi King Abdullah, a key U.S. ally and influential figure within OPEC, is determined to prevent Chavez and Ahmadinejad from overshadowing the summit with anti-U.S. rhetoric. Despite sitting through Chavez's lengthy speech on Saturday, the elderly leader later joked with the Venezuelan president about the length of his speech. In a lavish setting, Chavez called on OPEC to take a leading role in fighting global poverty. Ahmadinejad stated that OPEC should play a more active role in geopolitics and demand respect for its member countries, while also calling on powerful nations to cease threatening the organization. He mentioned that he would share his views at the end of the summit. Saudi Arabia recently suggested creating a consortium to supply Iran with enriched uranium for peaceful purposes in an attempt to ease tensions between Iran and the US. Despite this offer, Iran has stated that it will continue its own enrichment program. Concerned about Iran's potential nuclear capabilities, Gulf Arab countries, including OPEC members Saudi Arabia, Kuwait, Qatar, and the United Arab Emirates, have announced plans to begin their own nuclear energy programs. | 4 |
The finance minister, AMA Muhith, attributed the country's struggles with poverty and other issues to the failure of donors to fulfill their aid pledges. He expressed this sentiment at the release of a report on Bangladesh's progress towards achieving Millennium Development Goals at Sonargaon hotel in Dhaka on Wednesday. Muhith emphasized that achieving MDGs would not be difficult if donor agencies honored their commitments. Bangladesh, like other nations, has committed to eradicating extreme poverty by cutting the proportion of people living on less than $1 a day in half by 2015. Despite some progress on certain issues, the minister noted various challenges in meeting MDG targets. He stated that child malnutrition continues to be a significant issue and noted that while progress has been made in addressing sanitation problems, the arsenic issue still remains unresolved. He also mentioned that the country's economic growth rate is good but lags behind that of neighboring countries. Planning minister AK Khandker and foreign minister Dipu Moni, along with others, also spoke at the event. Khandker emphasized the need for increased international assistance to tackle the impacts of climate change in Bangladesh. Moni stated that natural disasters caused by climate change are hindering the country's development. She emphasized the advancements made in poverty reduction, women's empowerment, primary education, and reducing child mortality. The progress report was presented by Planning Commission member Shamsul Alam. | 4 |
During his closing speech at the ninth consecutive Global Media Forum, DW Director General Peter Limbourg emphasized the importance of European values. He highlighted the need for Germany and Europe to reflect on and uphold these values, acknowledging that there are instances where they fall short, such as in the sale of arms, environmental pollution, and cooperation with corrupt regimes. Limbourg stressed the importance of practicing what we preach before lecturing others on these values. Over 2,000 participants from 110 countries gathered in the former West German capital for the three-day event. The conference focused on discussing challenging topics related to "Media. Freedom. Values." Journalists in various countries often encounter tough circumstances. The conference delved into the role of media, freedom of speech, and the importance of safeguarding values. German President Joachim Gauck delivered an inspiring message to conference participants, emphasizing the shared responsibility of journalists worldwide. He highlighted the abundance of information available today, but also warned of the increasing potential for manipulation and disinformation. Gauck stressed the importance of upholding reliable journalism that can be trusted. A notable moment at this year's Global Media Forum was when Sedat Ergin, editor-in-chief of Hürriyet, received the Deutsche Welle Freedom of Speech Award. Upon receiving the award, Ergin expressed concerns about the growing threats to freedom of expression not only in non-democratic countries, but also in supposedly democratic nations. Diekmann emphasized the importance of press freedom and criticized the state of media freedom in Turkey. Turkish media aligned with the ruling party reacted strongly to the award, highlighting the challenges faced by journalists in Turkey. The role of bloggers and activists in societies with limited freedom of speech was also discussed at the GMF. Egyptian comedian Bassem Youssef attended an award ceremony in Bonn for The Bobs, which recognize the top international online activists. German Commissioner for Human Rights Policy Bärbel Kofler participated in a panel with bloggers from Bangladesh who have sought asylum in Europe due to threats from Islamist extremists. The forum focused on the lack of protection for journalists in danger in their home countries and aimed to raise awareness about the need for asylum. Journalist and author Martin Walker provided a pessimistic outlook on the future of media. Speakers at the conference emphasized that the media is at a critical juncture. The increasing importance of direct communication with people globally through social media is creating new possibilities for journalism. DW's Director General Limbourg emphasized the need for media to take advantage of this opportunity in order to have a meaningful impact. | 4 |
Chief adviser Fakhruddin Ahmed emphasized the importance of industrialized countries providing climate adaptation funds to developing nations, who are the most affected by climate change, with no strings attached. He also urged wealthier nations to transfer advanced technology to help developing countries improve their resilience to climate change. Fakhruddin stated that developed countries, as the main contributors to greenhouse gas emissions and global warming, have a significant responsibility to reduce emissions within specified time frames. The SAARC Ministerial Meeting on Climate Change in Dhaka was initiated at the suggestion of Bangladesh, as there is concern about the potential inundation of a significant portion of the country's landmass due to rising sea levels caused by global warming. The meeting is expected to agree on a joint declaration regarding addressing climate change, which will impact the entire SAARC region including Afghanistan, Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan, and Sri Lanka. The Maldives is particularly vulnerable to rising sea levels. Fakhruddin emphasized the importance of SAARC countries uniting to urge developed nations to provide additional resources for adaptation efforts. Bangladesh is working on establishing an international climate adaption center to exchange knowledge and best practices. Developed countries are urged to make a firm commitment to reduce their emissions without conditions. He emphasized the importance of taking action to prevent the dangers of climate change. Fakhruddin warned that climate change could result in the loss of livelihoods for millions of poor people and worsen the impact of floods, droughts, and salinity. He compared the potential consequences to the gravest tragedies in human history, such as the 'Black Death' and World War II. Fakhruddin urged against remaining passive and allowing these events to unfold. SAARC Secretary-General Sheel Kant Sharma echoed this sentiment, stating that the way forward should involve developed countries making binding commitments to reduce greenhouse gas emissions within specific timeframes. The inauguration was led by Devasish Roy, the special assistant for environment to the chief adviser, and also featured remarks from Iftekhar Ahmed Chowdhury, the foreign adviser. | 4 |
Coach Jorge Luis Pinto reassured that despite Colombia's 5-0 loss to Paraguay in the Copa America, the team will not be completely defeated. He emphasized that the situation is not a catastrophe and that they have not been completely destroyed in terms of football, tactics, or morale. Pinto stated that while they did lose, it is not the end of the world. "We haven't given up, we will respond." Colombia controlled the beginning of their first Group C match on Thursday, with Alvaro Dominguez failing to convert a penalty in the 28th minute. However, Paraguay scored two minutes later and Colombia struggled in the second half. It is interesting to note that Colombia's defense had been solid before the tournament, only allowing two goals in six games. Their upcoming game is against Argentina on Monday, who started the tournament with a 4-1 victory over the United States. Pinto stated that there will be changes, including variations in playing style and players. He also drew a comparison between the match and Colombia's 5-0 victory over Argentina in a World Cup qualifier in 1993, noting that both games had similarities in terms of performance. | 4 |
A major global report launched on Tuesday emphasized the importance of rich nations taking the lead in reducing carbon emissions to prevent negative impacts on health, education, and poverty reduction for the world's poor. The UN Human Development Report (HDR) 2007-08, titled "Fighting climate change: Human solidarity in a divided world," called on developed countries to offer incentives to developing nations to address the challenges of climate change. The report, prepared by the United Nations Development Programme (UNDP) based on the Intergovernmental Panel on Climate Change Synthesis Report, outlined a plan for climate change negotiations in Bali, Indonesia, stressing the urgency of taking action within the next ten years. The report warned that if the opportunity to prevent temperature rises of over two degrees Celsius is missed, the Himalayan glaciers that supply water and food to over two billion people could disappear. The lead author of the report, Kevin Watkins, stated that the carbon budget of the 21st century is being overspent and could be depleted by 2032, leading to devastating consequences for the poor who are the most vulnerable. The report emphasizes the need for the world's wealthiest countries to take responsibility and lead the way in reducing emissions by at least 80 percent by 2050. Additionally, the report calls for a new $86 billion global annual investment in international adaptation efforts to protect the world's impoverished populations. The report suggests that developed countries should implement a new system for transferring clean energy technology to developing countries. The report highlights the positive impact of investing in adaptation efforts, such as protecting assets during flooding. It also calls for developing Asian countries, such as China and India, to reduce emissions by at least 20 percent by 2050. UNDP administrator Kemal Derviş emphasizes the importance of expanding access to affordable energy while reducing carbon emissions. The report proposes establishing a Climate Change Mitigation Facility funded by developed countries to incentivize developing countries towards a more sustainable development approach. Watkins argues that rich countries must provide funding for technology transfer to poorer countries as a way for developed countries to address their carbon footprint. The pathway outlined in "Fighting climate change" is a detailed checklist for political leaders attending the Bali conference in December. It emphasizes the need for a binding and enforceable post-2012 multilateral agreement to combat climate change and protect the planet and its most vulnerable populations. Key points include reducing emissions from developing countries by 20% by 2050 and from developed countries by 30% by 2020 and at least 80% by 2050, as well as creating a Climate Change Mitigation Facility to finance low-carbon energy investments in developing countries. This would require an annual investment of $25-50 billion. Implement a fair price for carbon by utilizing both carbon taxation and expanding cap-and-trade schemes globally. Enhance regulatory standards by implementing and enforcing stricter efficiency standards for vehicle, building, and electrical appliance emissions. Encourage the growth of low carbon energy sources, acknowledging the opportunity for expanding the use of renewable energy and the importance of investing in innovative technologies like carbon capture and storage (CCS). Allocate $86 billion or 0.2 percent of the combined GDP of northern countries to improving climate-resilient infrastructure and enhancing the ability of the less fortunate to withstand the impacts of climate change. Include adaptation in all strategies aimed at reducing poverty and extreme inequality, such as poverty reduction strategy papers. Acknowledge the importance of carbon sequestration in forests and land in future global agreements, and support international financial transfer plans for deforestation, as proposed by Brazil and other countries. | 4 |
South Korea, Asia's fourth largest economy, has committed to selecting one of three targets for carbon emissions by 2020, aligning itself with Kyoto signatories in the fight against climate change. The government announced on Tuesday that it will decide on a 2020 gas emission goal this year, with options including an 8 percent increase from 2005 levels, remaining unchanged from 2005, or decreasing by 4 percent from 2005 levels. Despite being one of Asia's wealthiest nations and a major industrial player, South Korea saw a significant increase in emissions between 1990 and 2005. Per-capita emissions of carbon dioxide in 2005 were 11.1 tonnes, ranking the country 17th among OECD members. Sang-hyup Kim, Secretary to the President for National Future and Vision at the Presidential Office, acknowledged that the targets may appear modest compared to those of developed countries. The efforts made by Korea are sincere and at their maximum, showcasing the country's capabilities. The government has estimated that each target will cost between 0.3 and 0.5 percent of GDP and will involve the use of hybrid cars, renewable and nuclear energy, energy efficiency with light-emitting diodes, and smart grids to reduce emissions. Developed nations, obligated by the Kyoto Protocol to decrease greenhouse gas emissions, are facing pressure from developing countries to increase their emission reduction targets as part of a larger climate agreement being negotiated. These discussions will conclude at a major UN conference in Copenhagen at the end of the year. Wealthy developing countries like South Korea, Singapore, and Mexico are also being pushed to announce their plans to reduce emissions. South Korea's goals are relatively small when compared to those of developed nations like the United States and the European Union. Japan and the United States are targeting reductions of 15 and 17 percent by 2020, respectively, from 2005 levels. The European Union and Britain are aiming for reductions of 20 and 34 percent by 2020 compared to 1990 levels. China and other developing countries are calling for developed nations to reduce greenhouse gas emissions by at least 40 percent by 2020 in order to prevent severe consequences of global warming such as droughts, floods, and rising sea levels. | 4 |
A senior negotiator informed Reuters that China is open to including its voluntary carbon emissions target in a mandatory UN resolution. This move could potentially push developed countries to prolong the Kyoto Protocol. The success of UN climate talks in Cancun depends on reaching an agreement on solidifying national emissions targets post-2012. China's willingness to compromise is contingent on the United States committing to mandatory emissions reductions and extending the Kyoto Protocol. Developing countries are in favor of continuing the protocol, while industrialized supporters like Japan, Russia, and Canada prefer a separate agreement that encompasses all nations. China had previously resisted the idea of making its domestic emissions targets mandatory, as is currently the case for industrialized nations. Huang Huikang, the Chinese Foreign Ministry's representative for climate change negotiations, stated that a resolution can be established that would be enforceable on China. He also mentioned the possibility of a legally binding decision under the UN Climate Convention and expressed willingness to discuss the details. Huang Huikang emphasized the importance of China's efforts aligning with international actions and argued against the idea of abandoning the Kyoto Protocol to address climate change concerns. Jennifer Morgan from the Washington-based World Resources Institute described the proposal as a "gamechanger," noting that it was a positive step towards reaching an agreement in Cancun. Alden Meyer from the US-based Union of Concerned Scientists also viewed the proposal as a promising development, while acknowledging that the details would be crucial. China's chief negotiator Xie Zhenhua later stated that China's targets could be aligned with the Convention, allowing developing countries to voluntarily make emissions commitments using their own resources. Huang stated that China would not change its stance on insisting that new emissions targets be included in an extended Kyoto agreement. China has always maintained that its efforts to reduce emissions are binding domestically and not subject to international agreements. Huang acknowledged that China is now open to linking its efforts internationally as part of a compromise. China is willing to play a positive role in the international effort, but remains firm that there is no room for compromise on the issue of Kyoto. Developing countries, such as China, the largest carbon emitter in the world, made a commitment at a summit in Copenhagen the previous year to voluntarily take measures to limit the increase of their emissions. China specifically promised to decrease its "carbon intensity," the quantity of carbon dioxide (CO2) emitted for every dollar of economic growth. The goal is to lower this by 40-45 percent by 2020 compared to levels in 2005. Huang suggested that this intensity target could be included in a resolution. | 4 |
UN Secretary-General Ban Ki-moon expressed disappointment at the progress made on climate change at the G8 summit in Italy, stating that the commitments made so far were insufficient. He emphasized the urgent need for more significant efforts to combat climate change, calling it a crucial responsibility for the future of humanity and the planet. Despite the G8's agreement to reduce emissions by 80% by 2050, Ban stressed the necessity for immediate and substantial action. President Barack Obama also acknowledged the need to bridge the gap with developing nations on climate change, following Ban's criticism of the G8's inadequate response. During the first day of a meeting of the Group of Eight major industrialized nations in L'Aquila, Italy, the G8 was unable to persuade China and India to commit to reducing greenhouse gas emissions by half by 2050. Despite this setback, President Obama, aiming to have an impact on his first G8 summit, led a meeting of wealthy and emerging countries to discuss environmental issues and expressed optimism that progress could still be made before the UN climate change treaty talks in Copenhagen in December. The White House confirmed that Obama had discussions with Brazilian President Luiz Inacio Lula da Silva about bridging the gap on this disagreement before the crucial meeting. Obama was scheduled to lead the 17-member Major Economies Forum (MEF), which was expected to agree to limit global warming to 2 degrees Celsius compared to pre-industrial levels, but not on specific emission reduction targets. The absence of Chinese President Hu Jintao, who had to leave the summit to deal with violent clashes in China, was a hindrance to the progress of the discussions. The rise in temperatures of about 0.7 Celsius since the Industrial Revolution, due to the widespread use of fossil fuels, is a concern that British Prime Minister Gordon Brown hopes will be addressed by all countries present at the meeting, including the United States, Japan, Germany, France, Britain, Italy, Canada, Russia, China, India, Brazil, South Africa, Indonesia, and Mexico. However, there are doubts about reaching an agreement on emissions. Developing countries like India are waiting to see plans from wealthy nations to provide financing to help them deal with the effects of climate change before committing to deeper emission cuts by 2020. The G8 countries have agreed to a goal of reducing global emissions by 50 percent by 2050, with the United States agreeing to this target for the first time. They have also set a reduction goal of 80 percent for developed countries as a whole. However, Russia has immediately stated that it cannot meet this target by 2050, and Canada's Environment Minister Jim Prentice has described the 80 percent goal as "aspirational." The first day of the summit was dominated by discussions about the fragile state of the world economy, with rich nations acknowledging significant risks to financial stability. China, along with Russia, India, and Brazil, used the second day of the summit to argue for the long-term diversification of the global reserve currency system away from reliance on the dollar, a sensitive issue in currency markets. State Councilor Dai Bingguo stated that there is a need for a more efficient system for issuing and regulating reserve currencies in order to ensure stability in exchange rates and promote a diversified international reserve currency regime. The G8 and G5 expressed hope for progress in the Doha trade talks, aiming to conclude them by 2010. The Doha round, initiated in 2001 to aid developing countries, has faced obstacles related to proposed tariff and subsidy reductions. The G5 emphasized their commitment to addressing these issues to boost confidence in global markets, urging wealthy nations to eliminate trade barriers and provide financial support to poorer countries. | 4 |
When 96 individuals from China arrived at Taoyuan International Airport near Taipei, they realized they had been deceived after paying a large sum of money to participate in a music competition with lucrative cash prizes. The scam involved fraudulent invitations from the city of Taipei, with the con artist absconding with the entry fees and leaving the "contestants" stranded at the airport in mid-February. Some of the musicians were so outraged that they refused to return home. According to crime experts, such fraudulent activities are anticipated to rise in Asia, particularly in greater China, as the economic downturn prompts scammers to target vulnerable individuals seeking a change in fortune. "We are witnessing an increase in the number of victims due to the economic crisis," stated Chu Yiu-kong, a criminologist at Hong Kong University. Chinese individuals have a strong desire for wealth, making them susceptible to being deceived. They also have a belief in luck and opportunities, particularly during challenging times. The current economic downturn in trade-dependent Asian countries like Singapore, Hong Kong, Japan, and Taiwan has resulted in recessions and cost-cutting measures by businesses, including layoffs. Experts warn that scam artists tend to take advantage of these difficult economic situations. Scams that are expected to rise include job search fraud, fake money lending, and convincing people to pay large fees for fake lottery winnings or business opportunities. One common scam targets job seekers in Taiwan, Hong Kong, and China by pretending to be recruiters and asking for investments in the companies they are applying to. These fraudulent companies disappear when job seekers follow up on their applications. Zhou Yang, a 26-year-old from Shenzhen, China, stated that they do not trust roadside job agencies due to frequent deception. According to local media reports, a scam artist in south China was able to earn 800,000 yuan ($117,000) last year by sending text messages from a mobile phone using a common Chinese name to demand repayment of a debt. The victims, who already owed money to different individuals, believed they were being pressured for repayment. This type of scam only adds to the financial difficulties of those already struggling to make ends meet. Chang Chin-lan, a prevention officer with Taiwan's Criminal Investigation Bureau, warned that as deception crimes continue to rise, people may become desperate and morality could decline. Police statistics in Taiwan show that deception crimes increased by a third from about 31,000 in 2007 to 41,000 in 2008. In the fourth quarter of 2008, Hong Kong police saw a significant increase in deception crimes, with cases rising from 1,071 to 1,414. In Singapore, authorities are expecting a rise in phone scams and other forms of fraud due to the struggling economy, with "cheating and related offences" increasing by about 10 percent from 2,917 in 2006 to 3,254 in the previous year. The Singapore Police Force has warned that phone scams are likely to continue in tough economic times, with scammers developing new methods to deceive victims. Besides economic factors, advancements in technology have also contributed to the growth in scams, enabling fraudsters to target victims across borders. The emergence of costly hoaxes in Asia around 2001 was linked to the proliferation of the Internet and mobile phones, which provide anonymity and protection from law enforcement in multiple countries, explained Tsai Tien-mu, a criminology professor at Taipei Police College. Tsai mentioned that it is now simple for individuals to contact each other, whereas previously, the perpetrator had to physically meet the victim. Due to the ease with which con artists can conceal themselves, law enforcement faces challenges in solving fraud cases. In Taiwan, police officers only solve 10 percent of their cases. Conversely, in Hong Kong, police prioritize public education over pursuing individual con artists, according to Chu from Hong Kong University. Frequently, the scammers can be found in China, well out of the jurisdiction of law enforcement in Hong Kong. According to Zhou, a job seeker from Shenzhen, the police in mainland China are not very helpful for victims of fraud. Zhou stated that even if you are cheated, contacting the police is pointless as they rarely respond and offer assistance. | 4 |
The top climate change official of the United Nations urged the European Union to quickly come up with strategies to assist developing countries in combating global warming. He warned that a delay could result in a deadlock that hinders progress worldwide. Yvo de Boer emphasized the urgency for all industrialized nations to take action promptly. He also highlighted the need for increased financial support from wealthy countries to help poorer nations reduce their greenhouse gas emissions, as agreed upon in Bali in December. This would, in turn, motivate developing countries to shift their focus from fossil fuels to cleaner energies in order to diversify their economies. The commitment of developing nations, particularly China and India, is a prerequisite for many wealthy nations, led by the United States, who are concerned about job loss, to reduce emissions. The United States is the only wealthy nation not part of the Kyoto Protocol. This situation has created a dilemma where it is challenging for countries like the United States, Japan, Canada, Australia, and possibly the EU to make progress if they cannot secure the resources to engage with developing countries. This, according to de Boer, the head of the U.N., makes things complicated. The Climate Secretariat in Bonn is addressing the issue of climate change, with the EU claiming to be a leader in combating it. The U.N. Climate Panel warns of more extreme weather events such as heatwaves, floods, droughts, and rising sea levels in the coming century. One proposed solution is to auction off carbon dioxide emission rights in the EU and use the proceeds to support developing countries. Another option is to increase the levy on a Kyoto project that enables wealthy nations to invest in reducing greenhouse gas emissions in developing countries. De Boer mentioned that EU budgets for research and development could play a vital role in combatting climate change. He emphasized the need for generating resources for developing countries in order to encourage their participation in climate efforts. De Boer also called on French President Nicolas Sarkozy to finalize an EU package of climate measures during the French EU presidency in the latter part of 2008. The EU Commission proposed reducing greenhouse gas emissions by 20 percent below 1990 levels by 2020, increasing the use of renewable energy in power production to 20 percent, and incorporating 10 percent of biofuels in transport by 2020. De Boer stressed the importance of completing the package under the French presidency so that it could be presented to the European parliament. France and Germany expressed concerns last week that the plan could put European jobs at risk. De Boer emphasized that the European Union must now follow through on sharing the burden of the plan. He also stressed that clear signals on how the target will be reached are crucial for the EU's credibility on the international stage. To read more of Reuters' latest environment blogs, click on the link provided. | 4 |
Speakers at a conference at the London School of Economics warned about the serious environmental, ecological, social, and economic impacts that the planned Tipaimukh Dam construction by India will have on the people of Bangladesh and northeastern India. The Voice for Justice World Forum called for a joint feasibility study between Bangladesh and India before any dam construction to find a fair solution to the environmental issues. India, as an upper riparian country, was reminded of its moral and legal obligation to consult with Bangladesh before proceeding with the dam. Dr. Hasanat Hussain MBE, Convenor of the World Forum of the Voice For Justice, chaired the conference while British treasury minister Stephen Timms praised the organizers for holding the forum in London. He stated at the conference that the British government will always support the oppressed worldwide and collaborate with organizations like VFJ to advocate for human rights and justice for the disadvantaged. The event, the first of its kind for VFJ, was held at the London School of Economics by a coalition of its European, US, Canadian, and Asian branches. It was attended by Bangladeshi academics, experts, VFJ members, and a diverse group of individuals from the British-Bangladeshi community in the UK. Former minister Abdul Moyeen Khan and former Bangladesh high commissioner to the UK, Sabih Uddin, participated in the discussion via the internet. Concerns were raised about the potential humanitarian crisis that could arise if any obstacles were constructed on the Surma and Kushiara rivers, affecting millions of people who rely on them. Dr. K M A Malik from the University of Cardiff presented a paper on Climate Change in South Asia, particularly focusing on Bangladesh, at the conference. Two other papers were also discussed, one on the 'Rights of Migrant Workers in Gulf States' by Dr. Mahbub Khan from California State University, and the other on 'Women's rights in Islam' by Hasan Mahmud, the director of Sharia Law at the Muslim Canadian Congress. The speakers emphasized the importance of formal bilateral agreements between migrant-sending states like Bangladesh and migrant-receiving states in the Gulf to address the widespread violations of human rights and dignity of migrant workers. The conference urged Gulf governments to prioritize the human rights of migrant workers who contribute significantly to their economies and send remittances back to their home countries, while receiving low wages, poor working conditions, and job insecurity. Hasan Mahmud, in his paper on women's rights and Sharia, highlighted that Islam and authentic Sharia laws protect and promote women's rights fairly and justly. Professor Anthony Booth of Christchurch University in Kent, UK, along with other scholars and activists, expressed regret over the misinterpretation and distortion of laws that has resulted in discriminatory treatment of women in various societies due to social and cultural biases. Dr. Abdur Rahman, Dr. Zakia Rahman, Dr. Stephanie Eaton, and Luthfur Rahman Choudhury, along with joint convenors of the World Forum of Voice For Justice from various cities in the UK, participated in the question and answer sessions at the end. | 4 |
Sayed Talat Kamal from Durban, South Africa, reported that developing countries are expressing concerns that they are taking climate change more seriously than rich countries. The US, in particular, is being criticized for not making progress on important issues related to climate change. Delegates from Europe and the head of the African bloc at the UN Climate Summit in Durban have both criticized the US stance. Mali delegate Seyni Nafo stated that developed countries are not treating climate change as a serious global issue. Nafo highlighted the US's leadership in areas such as democracy, human rights, and market access, and called for similar leadership in addressing climate change. Arthur Runge-Metzger, the EU's chief negotiator, expressed concerns about the US delegation being hindered by the current domestic climate where climate change is not a popular issue. He noted that the Obama administration faces challenges in moving forward with climate change due to the situation in Congress. The US is perceived as delaying negotiations by seeking conditions that would legally require all countries to limit their greenhouse gas emissions, causing delays in discussions on funding for developing low-carbon economies and addressing the impacts of global warming. Climate change is caused by greenhouse gases trapping the sun's heat in the earth's atmosphere, leading to rising global temperatures and resulting in extreme weather events such as cyclones, floods, rising sea levels, drought, erosion, and increased salinity. It is widely agreed that a temperature increase of over 2 degrees Celsius would lead to irreversible climate change. Global studies supported by the United Nations and the scientific community suggest that in order to limit the temperature increase to 1.5 degrees, global emissions need to be reduced to 40 percent of 1990 levels by 2020 and to 95 percent by 2050. It is crucial that emissions do not peak after 2015. The United States has expressed a preference for voluntary commitments by countries to reduce emissions instead of binding targets. The US has committed to reducing emissions by 17 percent from 2005 levels by 2020, with no plans to change this pledge in the near future according to US delegation chief Jonathan Pershing. Despite these voluntary pledges, Runge-Metzger argues that they only amount to about half of what is necessary to prevent a potential climate catastrophe. In the first statement from the Bolivian delegation, Rene Orellana strongly rejected the Reducing Emissions from Deforestation and Forest Degradation (Redd) initiative, stating that forests should not be viewed as carbon stocks but rather as essential providers of food security, water resources, and biodiversity for indigenous populations. Orellana emphasized that Bolivia, with almost half of its land covered by forests, does not support the emissions offsetting scheme of Redd. Redd stated that the forest's function is often simplified to just carbon stocks. Orellana criticized certain aspects of the Green Climate Fund, specifically payments tied to the outcomes of green initiatives. Despite recent political turmoil in Bolivia, the country has remained steadfast in its environmental stance at the 17th meeting of the UN climate change convention. Bolivia has even enacted groundbreaking legislation granting nature the same rights as humans. Scientists warn that heat waves, previously occurring every 20 years, will become an annual occurrence due to rising greenhouse gas levels in the atmosphere. Additionally, coastal regions and islands are at risk of being flooded due to the effects of global warming, and it is predicted that within the next ten years, an additional 250 million people will experience water shortages. Advocates for climate action believe that stabilizing carbon levels in the atmosphere would only slightly impact economic growth, with a decrease of 0.12 percent per year. They argue that any associated costs would be balanced out by improved health, increased energy security, and more reliable food sources. | 4 |
The minister of environment criticized developed countries for their deceptive behavior regarding climate funds during a discussion about the upcoming climate summit. Hasan Mahmud stated that rich countries have not kept their promises to provide funds to combat climate change in poorer nations and have also failed to reduce carbon emissions as pledged. He mentioned that only eight percent of the $30 billion promised as Fast Start Funding in 2009 had been paid by November 2011, despite the deadline for clearance being 2012. He mentioned that there is a deception involved in the situation, where they claim to have already provided the funds, but upon closer inspection, it is clear that the money given in 2008 is labeled as Fast Start Funding. The roundtable discussion took place before an upcoming climate change conference in Durban, South Africa starting on Nov 28. The minister from Bangladesh suggested the creation of a central organization to allocate the funds during the conference. He also mentioned that priority should be given to "need" when distributing funds, rather than favoring countries with better relationships with donors. He criticized developed countries for not making significant progress in reducing carbon emissions, stating that they are responsible for global warming. Hasan pointed out that a person in Bangladesh emits 0.3 tonnes of carbon per year. The amount is 1.6 tonnes in developing nations and 15-20 tonnes in developed countries. He also mentioned his optimism for a positive result from the Climate Vulnerable Forum on Sunday, which will be attended by United Nations secretary-general Ban Ki-moon and prime minister Sheikh Hasina. The roundtable was chaired by Palli Karma-Sahayak Foundation chairman Qazi Kholiquzzaman. | 4 |
In Copenhagen, Bangladesh's state minister for environment, Hasan Mahmud, expressed concern that the European Union's commitment of 10 billion euro over three years to the climate adaptation fund may not be sufficient. Mahmud emphasized the need for clarity on whether this commitment is in addition to Official Development Assistance (ODA), as vulnerable countries are seeking a contribution of 1.5 percent of GDP from industrialised nations. Mahmud stated that this could potentially create a $400 to $600 billion fund to assist poor and vulnerable countries. The state minister emphasized that the proposal from the EU to raise funds for adaptation is insufficient to reach the total $400-600 needed. He reiterated the demand from poor and vulnerable nations for a separate climate fund, in addition to existing ODA, that is not controlled by financial institutions such as the IMF and World Bank. He suggested the creation of a separate institution that is easily accessible and more transparent. Hasan stated that MVC GROUP believes 70% of funds should go to the least developed or most vulnerable countries, with 15% specifically allocated to Bangladesh. He highlighted that over one billion people are at risk of climate change globally. Hasan mentioned that Bangladesh has initiated the formation of a new group called MVCs, with plans to include 20 countries in total. He mentioned that the UN recognizes G-77 or LDCs for economic development, and he is striving for similar recognition for climate change. He emphasized the need to create a new group of vulnerable countries for improved negotiation. Hasan highlighted Bangladesh as the most vulnerable country, leading the Global Climate Risk Index with 15% of the 1 billion most vulnerable people residing there. "So, Bangladesh is requesting that 15 percent of the adaptation fund be allocated to them. This is because they are experiencing various negative impacts of climate change, including sea level rise and extreme weather. The number of people affected in Bangladesh is expected to be higher than in all the small island countries. Earlier in the day, a delegation from Dhaka held an open discussion at the conference, focusing on Bangladesh's status as a victim of climate change." Dr. Ainun Nishat, a climate expert, discussed the effects of climate change on food and agricultural production, water management, health, and infrastructure. | 4 |
In an effort to regain credibility after ethical concerns, Reinhart, who was promoted to senior management, highlighted some key aspects of the new product. These included the need for transparency in methodology, more reliance on survey data, and less emphasis on ranking countries. Reinhart emphasized the importance of public disclosure in restoring credibility and stated that the details of the product would be made public. The bank would also prioritize survey data to minimize subjective judgment and eliminate the competitive aspect of rankings that encouraged countries to manipulate the system. The bank's annual "Doing Business" rankings were canceled in September by the board due to data irregularities in the 2018 and 2020 versions. Senior bank officials, including former chief executive Kristalina Georgieva, now head of the IMF, were accused of pressuring staff to make changes. A law firm is investigating possible staff misconduct related to data changes benefiting China, Saudi Arabia, and other countries. The IMF's board supported Georgieva after reviewing the allegations, but she may still be implicated in the ongoing investigation. Reinhart noted that the World Bank's credibility has been damaged and rebuilding trust will require time and effort. She emphasized the importance of credibility being based on systems rather than personalities and mentioned that the bank has implemented numerous safeguards following external reports. She stated that while nothing in life is guaranteed to be foolproof, implementing measures can help reduce the potential for misuse and abuse. She expressed hope that credibility will be gained over time, as establishing credibility can be challenging and easily lost. Reinhart initiated a thorough examination of the Doing Business methodology by an external advisory panel in response to internal concerns about potential data manipulation in the reports. The critical 84-page evaluation that followed called for a series of corrective measures and changes, pointing out a trend of government attempts to manipulate the scoring. It criticized the bank for not being transparent about the data used and suggested it discontinue selling consulting services to governments that aim to improve their scores, a practice that Reinhart mentioned had already been stopped in 2020 and 2021. Reinhart mentioned that the bank would assess the repercussions of the scandal more broadly and determine any additional actions needed after the completion of the second WilmerHale report. She stated, "We will address that issue once we have the complete report." | 4 |
Two British ministers, who arrived in Dhaka on Monday, stated that the UK will assist Bangladesh in protecting the interests of the least developed countries (LDCs) during the important Copenhagen climate negotiations in December. Douglas Alexander, UK minister for international development, and Ed Milliband, responsible for energy and climate change, made this pledge a day before Prime Minister Sheikh Hasina traveled to Geneva to participate in the World Climate Conference-3. Alexander told reporters upon arrival in Dhaka that they would discuss how the UK could help Bangladesh in representing the LDCs at the crucial Copenhagen summit. The ministers later met with Hasina to discuss climate change and development cooperation between the two countries. Bangladesh holds the chair of the 50-member LDC Group, which consists of nations most susceptible to the adverse effects of climate change, largely due to emissions from developed countries. Wealthy nations, including Britain, are seeking to form a partnership with Less Developed Countries (LDCs) in order to urge economic powerhouses China and India to commit to reducing their greenhouse gas emissions. The United Nations member countries will gather in Copenhagen to establish a new international legal agreement aimed at lowering carbon emissions, replacing the current Kyoto Protocol which only imposed emission reduction targets on developed nations. The Bali climate talks in 2007 acknowledged that emerging economies must also decrease their emissions. The alliance between LDCs and developed countries will put pressure on China and India, now recognized as significant contributors to greenhouse gas emissions. "Bangladesh is among the nations most at risk from the impacts of climate change. The country's initiatives in adjusting and minimizing risks serve as a valuable example to the global community. Ed Milliband stated, "The obstacles are significant," and added, "The UK is dedicated to supporting Bangladesh in overcoming these hurdles." The foreign ministers visiting had dinner with Dipu Moni, the foreign minister, at the state guest house Padma on Monday night." Alexander and Milliband inaugurated the UK government's International Climate Champions Initiative in Bangladesh, which will send 15 Bangladeshi youths to the Copenhagen summit. The initiative aims to raise awareness about climate change and its effects on the younger generation. Interested candidates must submit proposals on climate change, and a panel led by Dr. Atiq Rahman will select the final 15 participants. | 4 |
French Foreign Minister Laurent Fabius, leading the U.N. conference, stated his intention to release a nearly final draft on Thursday afternoon, aiming to minimize disagreements and unresolved issues in order to facilitate a final round of revisions. In a meeting with U.N. Secretary General Ban Ki-moon, Fabius expressed his determination to work towards reaching a conclusive agreement. He emphasized the importance of concluding an agreement to reduce greenhouse gas emissions by Friday, the official end date of the conference, rather than extending the negotiations as in past conferences. However, there is still discord among ministers and negotiators from 195 countries on key issues, such as determining which countries should contribute the necessary funds to assist developing nations in transitioning from fossil fuels to cleaner energy sources. The sticking point has intensified tensions behind closed doors between the US and China regarding the "minimalist" approach mentioned by US Secretary of State John Kerry. The Chinese did not delve into specifics but mentioned a potential for compromise. The decision between 1.5 degrees or 2 degrees will be addressed in the next draft, with more consultations needed with colleagues according to Chinese negotiator Gao Feng. They hope to reach a resolution by Friday or Saturday. The discussions have reignited debates about the level of ambition the deal should have in addressing the increase in global temperatures. Developing nations are pushing for the agreement to include the long-term goal of limiting temperature rise to 1.5 degrees Celsius above pre-industrial levels, even though current carbon emission cuts are insufficient. Many participants are still affected by the failure to reach a deal in Copenhagen in 2009. There is a strong desire to reach an agreement this time, but the question remains whether it will be robust or weak. Jose Ramos-Horta, a former president of East Timor, emphasized that no country should expect to achieve all their objectives in the accord. He informed Reuters that a treaty is not permanent like the Bible and can be reviewed and potentially strengthened in the future. | 4 |
The initial UN special session on climate change, which took place on Tuesday, primarily focused on urging wealthy nations to take the lead in reducing greenhouse gases. British economist Nicholas Stern emphasized the importance of both rich and developing countries participating in a global agreement to address human-induced emissions. Stern suggested that the global target for reducing greenhouse gases, particularly carbon dioxide, should be a 50 percent reduction by 2050. He also argued that wealthier nations, due to their historical contributions to pollution and greater access to resources, should aim for even larger reductions, around 75 percent. Stern, a former head of the British government's economic service and current professor at the London School of Economics, suggests that responsibility for reducing emissions may also include financing cuts in other countries. British Prime Minister Gordon Brown echoed similar sentiments at the United Nations, emphasizing that the impacts of climate change will disproportionately affect the poorest nations despite them contributing the least to the problem. Sunita Narain, director of India's Center for Science and Environment, criticizes the lack of significant emissions reductions by industrialized countries and calls for more concrete action on climate change rather than just rhetoric from political leaders. At a climate meeting at the United Nations, environmental scientist John Holdren from Harvard University stated that global climate change is responsible for extreme weather events such as droughts, floods, and more intense storms, which cannot be attributed to natural climate variability. The United States, a major emitter of greenhouse gases, did not make a statement during the meeting and has been resistant to setting firm targets for reducing emissions, citing concerns about the impact on the economy. Instead, the US has advocated for voluntary rather than mandatory emissions cuts. President George W. Bush, along with other leaders of the Group of Eight, agreed in June to make significant reductions in emissions and to negotiate a new global climate agreement to replace the Kyoto Protocol after 2012. The two-day climate meeting, the first of its kind in terms of content and format, will conclude on Wednesday. The event is carbon-neutral, as any emissions produced by air travel and the UN Headquarters building in New York are balanced out by supporting a biomass fuel project in Kenya. | 4 |
The hearing follows a series of sexual assault scandals and recent data from the Pentagon indicating a significant increase in unwanted sexual contact within the military. The top military officials, including the heads of the Army, Navy, Marines, Air Force, and Coast Guard, as well as the chairman of the Joint Chiefs of Staff, appeared before the Senate Armed Services Committee to address the issue. They emphasized their commitment to addressing the problem and General Martin Dempsey stated that they are taking swift action to change a complacent culture. While some lawmakers, like Senator Kirsten Gillibrand, advocate for removing prosecution of sex crimes from the victim's chain of command, others, like General Raymond Odierno, argue that maintaining the power of commanders is crucial for unit cohesion. Despite criticism of the military's handling of past cases, including instances where commanders showed leniency to offenders, there is still debate over the need for radical change in the system. Senator John McCain expressed his frustration over the continued reports of sexual misconduct in the military, emphasizing that action is needed rather than just talk. Senator Carl Levin, however, showed understanding of military concerns about preserving the authority of the chain of command. Levin stated that only the chain of command has the power to implement a zero-tolerance policy for sexual offenses and address any issues within the command climate that may contribute to or allow sexual assaults to occur. | 4 |
A climate tribunal organized by UK-based international NGO Oxfam, with coordination from Campaign for Sustainable Rural Livelihood (CSRL), was held in Dhaka to address the impact of climate change on fisherfolk communities in coastal Bangladesh. The tribunal, which took place at the Bangabandhu International Conference Centre, placed blame on developed countries, particularly Annex-1 countries, for the destruction of livelihoods in these communities. The jury panel, led by Bangladesh Human Rights Commission's chief Mizanur Rahman, listened to testimonies from climate victims, including housewives in cyclone-affected areas and fishermen who ended up in Indian jails. The organization also consulted with two experts in climate change and international law to explore the connections between the science of climate change, its legal implications at both national and international levels, and the ongoing negotiations between multiple parties. Unfortunately, there is still no universally binding international agreement that would ensure compensation for countries affected by climate change due to emissions from developed nations, according to legal expert Ahmed Ziauddin. Ziauddin suggested that Bangladesh could potentially present its case to international courts such as the UN, WTO, and UNESCO, but there is currently no avenue for individual countries to seek damages. He recommended that Bangladesh include provisions related to climate change in its constitution. Ziauddin also noted that Bangladesh does not have a specific legal definition of climate change. Climate change expert Ahsan Uddin Ahmed explained to the tribunal that developed nations frequently demand detailed accounts of damage caused by climate change in an attempt to avoid their responsibilities. He emphasized that while the scientific evidence clearly shows that climate change is real and harmful, it is challenging to establish a separate account specifically for this purpose. Following testimonies, the jury recommended the creation of a new law and the inclusion of an article in the constitution addressing climate change. The jury concluded that since developed nations are primarily responsible for the negative impacts of climate change, they should bear the costs of mitigation efforts. Additionally, the jury noted that the human rights of coastal communities have been violated by the consequences of climate change. The group of individuals serving on the jury included politicians Saber Hossain Chowdhury, Tarana Halim, Hasanul Huq Inu, and economist Quazi Kholiquzzaman Ahmed. | 4 |
After three weeks of mid-year climate talks conducted online due to the COVID-19 pandemic, Patricia Espinosa urged countries to set aside their differences and collaborate in the months leading up to the crucial COP26 negotiations in Glasgow. Despite the challenges of virtual work, governments were praised for effective engagement and progress in areas such as aligning emissions-cutting goals and enhancing transparency in reporting climate action. However, disagreements persist on the rules for global carbon markets, requiring higher-level political guidance, according to the UN climate body. Espinosa emphasized the importance of ongoing efforts to achieve significant progress before COP26, stressing the high stakes involved. "I am encouraging all of us to meet the challenges of our time, to complete the necessary tasks, to bridge our differences, and to keep our promises." The June discussions marked the first official UN climate talks since the end of 2019, as the pandemic caused delays. The COP26 summit has the responsibility of finalizing regulations for the 2015 Paris Agreement on climate change to ensure its full implementation, according to UN officials. "Success at COP26 is crucial," Espinosa stated to reporters on Thursday. "It is a crucial test of our efforts against the climate crisis, it is vital for a sustainable recovery, and it demonstrates the importance of multilateralism during these critical times." Many countries have not yet submitted more ambitious climate action plans that were expected last year under the Paris agreement, as the pandemic disrupted the process. Governments have not made enough progress in reducing emissions to meet the goals of the Paris agreement, according to the United Nations. Wealthy nations failing to fulfill their promises of climate finance to help poorer countries transition to renewable energy and adapt to climate change is also hindering progress. The pandemic has further complicated matters, with developing nations struggling to secure access to vaccines, potentially affecting their ability to attend the upcoming COP26 summit. British Prime Minister Boris Johnson, as the conference host, stated that his government was in discussions with the United Nations on how to provide COVID-19 vaccinations to accredited delegations who may not have access otherwise. Diann Black-Layne of Antigua and Barbuda, representing the Alliance of Small Island States, expressed concerns about the uncertainty of the road to COP 26 due to the ongoing COVID-19 pandemic. She also emphasized the need for progress on climate finance, calling for a new financial goal at COP26 for nations vulnerable to climate change. Sonam P Wangdi of Bhutan, chair of the group of least developed countries at the UN talks, echoed the importance of delivering on climate finance for the success of the conference. Rich nations have faced criticism for failing to meet their promise to raise $100 billion annually from 2020 to assist developing countries in addressing climate change. Critics of the G7 leaders at a recent summit were disappointed by the lack of a clear plan to meet their climate pledge, despite fresh commitments from Germany and Canada. The virtual nature of this month's UN climate talks also hindered progress, with technical difficulties causing delays in formal decisions. To expedite the process, Alok Sharma, the UK official leading COP26, plans to bring together ministers from over 40 countries in London in late July. Britain's lead climate negotiator, Archie Young, acknowledged the need for more clarity on issues such as vaccinations and logistics for COP26. Sharma disclosed that London is collaborating with partners on a plan to provide vaccines to all accredited COP26 delegates, including government officials, green group representatives, and media personnel, with more details to be announced soon. | 4 |
At the beginning of the pandemic, the CDC was slow to respond due to its usual pace of operation. This led to delays in testing and surveillance as the agency struggled with outdated methods and infrastructure. The agency also hesitated to recommend masking because it took too long for federal scientists to acknowledge that the virus could spread through the air. Now, the highly contagious omicron variant is forcing the CDC to make rapid decisions based on limited evidence, causing public concern about the impact of these guidelines on the economy and education. Dr Rochelle Walensky, the director of the agency, has at times bypassed much of the usual scientific review process, most recently by reducing the isolation period for infected Americans. Following the Trump administration's history of interference, President Joe Biden took office with a promise to restore the CDC's reputation for independence and rigorous science. Walensky's current challenge is how to communicate to the public that the science is not yet complete, but this is the best advice available. This shift has been difficult for a bureaucracy mostly made up of medical professionals. In recent interviews, some CDC officials privately expressed feeling demoralized by the decisions and concerned about Walensky's increasing reliance on a small group of advisers and what they perceived as heavy political influence from the White House. Others outside of the agency praised Walensky for her efficient handling of a national emergency, even when faced with unclear data and uncertainty among agency researchers. Dr. Richard Besser, who led the agency during the H1N1 outbreak, acknowledged that policy decisions during a pandemic are not solely the CDC's responsibility. However, he emphasized the need for more clarity when policy and economics influence agency recommendations. The New York Times reports that over 800,000 Americans are infected daily, leading to challenges for schools, businesses, and hospitals across the country. At the end of December, Walensky announced that infected Americans would only need to isolate for five days instead of 10 if they no longer had symptoms, and a negative test result would not be necessary to end isolation. Critics were concerned about the potential spread of the virus as contagious individuals were allowed to return to work and school. Despite limited research supporting the shortened isolation period for omicron infections, the recommendation was seen as beneficial in keeping hospitals, businesses, and schools operational during the omicron surge. Dr. Thomas Frieden, who previously led the agency under President Barack Obama, stated that the recommendations for isolation were essentially accurate. Walensky and the CDC have not commented on recent tensions within the agency's decision-making process, with Walensky often attributing recommendations to rapidly changing science. During a Senate testimony, Walensky defended the agency's new guidelines for shorter isolation periods as a response to potential staffing shortages. This approach has been a recurring theme for Walensky, as seen in the CDC's previous recommendation for students to sit 3 feet apart in classrooms instead of 6 feet, even without substantial research supporting the change. Nonetheless, this adjustment did facilitate the reopening of schools. In May, Walensky used scientific data to inform vaccinated individuals that they could remove their masks and socialize without restrictions, despite criticism from experts who believed this decision did not consider the risk of breakthrough infections, particularly with the delta variant. In August, Walensky supported booster shots for all Americans alongside Biden, before the FDA or her own agency had reviewed the data on their necessity. The recent instance of providing isolation advice caused turmoil within the agency due to the way it was decided and communicated. Following Christmas, Walensky convened an emergency meeting with the agency's COVID response leaders. She informed them that the agency would reduce the recommended isolation period and eliminate the need for a negative test result before leaving isolation. The new guidance would be announced the next day, and officials were instructed not to discuss it until then. The scientists were surprised and rushed to gather data to support the recommendations and revise the information on the agency's website related to quarantine and isolation. Normally, federal researchers thoroughly review data, draft recommendations, and make adjustments based on feedback before publishing new guidance. However, due to limited evidence for shortened isolation, primarily based on the delta variant, the accompanying "science brief" was reduced to a "rationale" document. Some researchers were upset about not being involved in the decision-making process and were angered by the agency's statement that the change was based on science. Although some thought the new five-day cutoff was arbitrary, they were aware of data suggesting that rapid tests may not detect all omicron infections, so they mostly agreed with Walensky's decision not to require a negative test before ending isolation. However, when Walensky announced the new recommendations at an emergency meeting on Dec 26, staff members were not prepared. In the following week, CDC scientists struggled to update numerous guidance documents on the agency's website. Approximately 2,000 health officials, public health lab directors, and researchers at the state and city levels participate in a weekly call with CDC officials. During the call on Dec 27, just before the CDC's statement was released, state and local officials had many questions for agency scientists about the isolation guidance for the general public. CDC staff members were quiet due to strict orders not to discuss the new recommendations. Scott Becker, CEO of the Association of Public Health Laboratories, expressed a desire for more input and advance notice. Supporters of Walensky believed the CDC's change in direction was necessary, as the agency's researchers typically work at a slower pace, while the pandemic required immediate action. Frieden noted that some individuals at the CDC were not understanding the urgency of the situation. He mentioned that during his time in office, he often encountered CDC staff who were unaware of the potential impact of their recommendations and statements. Many experts believe that Walensky has unfairly been blamed for the challenges faced during the ongoing pandemic, as leading the CDC is difficult even in normal circumstances. Taking over during a pandemic, in a politically charged environment, and at a time when the agency's credibility and staff morale were low has made her job even more challenging. Additionally, the fact that agency researchers are still working remotely is seen as a significant obstacle to overcome. Besser expressed concerns about the future of the CDC. Besser expressed his concerns about the public's trust in public health, stating that it is unfair to blame Dr. Walensky for this issue. Despite explaining her decisions at White House briefings, Walensky and other agency scientists recently held their own briefing to address criticism and clarify the CDC's decisions. This move was seen as a positive step towards rebuilding trust in the CDC and ensuring that public health considerations are separate from political considerations. "Through receiving briefings from the CDC, she will have the opportunity to highlight the expertise of CDC scientists and experts. The ongoing conflict within the CDC predates the pandemic and the leadership of Walensky. Tensions between the CDC and the National Institutes of Health, led by Dr. Anthony Fauci, have existed during previous public health crises. In a recent incident, Fauci and Surgeon General Dr. Vivek Murthy made public statements about the CDC revisiting its isolation recommendations, causing irritation among senior CDC scientists. Dr. Peter Hotez, dean of the National School of Tropical Medicine at Baylor College of Medicine, suggested that Health and Human Services Secretary Xavier Becerra should intervene to resolve the situation. Becerra recently defended Walensky in a CNN interview, highlighting her medical and public health qualifications." She lacks a marketing degree. | 4 |
A UN summit is currently discussing a proposal to limit global warming to a maximum of 2 degrees Celsius, supported by a new fund of $100 billion annually to assist developing countries. The draft text, put together on Friday morning just before world leaders gathered, emphasizes the need for significant reductions in global emissions. The text also highlights the importance of commitments from wealthy nations to reduce greenhouse gas emissions by 2020. The latest draft has not changed much from the previous version created overnight. It stresses the scientific consensus that global temperatures should not rise more than 2 degrees and calls for immediate and enhanced national actions with strengthened international cooperation. Numerous major economies have already committed to a target of capping warming at 2 degrees Celsius above pre-industrial levels, which is considered a critical threshold to prevent "dangerous" consequences like increased floods, heatwaves, droughts, and sea level rise. The parties have expressed their support for the aim of raising $100 billion collectively by 2020 to address the climate change needs of developing countries, with funding coming from various sources. This statement is similar to remarks made by U.S. Secretary of State Hillary Clinton at the Copenhagen meeting. Additionally, the text specifies a goal of providing $10 billion per year in immediate assistance to developing nations from 2010-2012, with the funding increasing towards the $100 billion target by 2020. The text stated that developing nations would agree to some monitoring of their promised emissions reductions, which would involve reporting back to the UN Climate Change Secretariat every two years. The United States is pushing for international verification to be included in any agreement. Negotiations on the complete legal texts of one or more new climate treaties would need to be concluded by the end of 2010. The text clarified that it would not have legal binding power. It also mentioned that nations would continue discussions with the goal of adopting one or more legal instruments as soon as possible, and no later than COP 16, the next UN meeting scheduled for November 2010 in Mexico. Numerous developing countries are seeking two agreements - an extension of the Kyoto Protocol that requires wealthy nations to reduce emissions until 2012, and a new pact outlining commitments by poorer nations. Developed countries, on the other hand, prefer a consolidated treaty. The proposed agreement was tentatively named the "Copenhagen X," although there was disagreement over its title. Some critics, such as one environmental activist, argued that the agreement was too weak and labeled it the "Copenhagen catastrophe." | 4 |
An agreement in Copenhagen next month on a new pact to combat climate change is expected to attract long-term investors to companies that are better equipped to handle a potential increase in the cost of carbon emissions. A strong political deal with emission reduction targets at the upcoming summit could prompt investors like pension funds and sovereign wealth funds to adjust their portfolios to reflect the long-term risks associated with climate change, according to asset managers. This could lead to increased growth for companies that are energy self-sufficient or involved in alternative energy sources like wind or solar, while putting pressure on industries with high emissions such as utilities, aluminum, or automobile manufacturers. A more concrete agreement, such as a legally binding target for emission reduction, may encourage funds to adjust their asset allocation now to protect their portfolios from the impact of rising emission costs. In essence, it would be a global treaty to regulate pollutants. Bruce Jenkyn-Jones, managing director of listed equities at Impax Asset Management, stated that by intervening in the economy to regulate and incorporate the cost of carbon, there will be widespread impacts on products and services as people will be required to pay for carbon. This will particularly affect big energy producers, utilities, and industrials. Impax manages 50 million pounds in global equities for the UK Environmental Agency's Active Pension Fund. The strength of a potential deal in Copenhagen remains uncertain. During a preparatory UN meeting in Barcelona, developed nations tempered hopes for reaching an agreement on a legally binding text, suggesting it may take an extra 6-12 months. Developing countries are wary of rich nations reneging on commitments to combat climate change and are pushing for a legally binding deal in December. Despite politicians lowering expectations, there is still a significant opportunity for progress. Simon Webber, a fund manager at Schroders, stated that decisions made in Copenhagen will have a significant impact on the growth rates of companies in which you are investing. He believes that industries such as power generation, utilities, and transport will be immediately affected by a concrete deal. For example, companies like Germany's RWE could potentially face higher carbon costs, equivalent to almost a third of their operating profits in the coming years. Webber also pointed out Warren Buffett's $26 billion deal to acquire railway firm Burlington Northern Santa Fe in November as evidence of the long-term viability of railroads. He predicts that an aggressive deal will lead to increased growth rates in nuclear power and solar industries, as well as a major shift from combustion engine cars to electric vehicles. Malcolm Gray, a portfolio manager at Investec Asset Management, stated that meeting challenging initial targets is unavoidable. He mentioned that industries like sugar, which are energy self-sufficient, are better equipped to handle emission reductions and will attract investments. However, utilities in the traditional thermal sector and non-diversified aluminium producers will be at risk. The increased cost of production due to high carbon prices will result in higher prices for goods, impacting consumers with limited disposable income and high-volume low-margin retail businesses negatively. Gray highlighted that the world is currently experiencing more embedded inflation than is commonly understood. He mentioned that there is a possibility of experiencing a more aggressive inflation cycle globally compared to the current deflationary trend. The outcome of the Copenhagen talks could help investors mitigate portfolio risks by predicting the increase in carbon emissions costs, and investing in industries that benefit from alternative energy. Sovereign funds are increasingly involved in environmental investing, while private sector involvement has been slow. Norway's $400 billion oil fund, a major owner of European stocks, is investing over $3 billion in firms working on environmental technologies and urging companies to take stronger action on climate change. "We believe it is beneficial to promote good corporate behavior, which aligns well with our long-term investment goals," stated Martin Skancke, the director general of Norway's Ministry of Finance Asset Management Department, in an interview with Reuters last month. Rabobank also emphasized the importance of considering the cost of carbon emissions as a risk factor in providing credit facilities, noting that addressing this risk will lead to both risk mitigation and new business opportunities over time. Ruud Nijs, head of corporate social responsibility at Rabobank, mentioned that if the costs of climate change were factored into taxation, their approach to assessing credit portfolios would need to be reevaluated. If any of our clients are now required to bear the cost of climate change, their risk exposure will undergo a significant transformation. The bank has allocated over 4 billion euros towards investments in renewable energy, with all recent investments in clean technology within the credit investment portfolio. It is the exclusive debt provider for the Belfuture solar project, valued in the hundreds of millions of euros. Additionally, the bank has provided project financing for senior debt and equity amounting to 620 million euros for the Belwind offshore wind farm project. "Copenhagen provides a more favorable environment for conducting business." Nijs stated that significant cleantech deals and investments in solar, wind, and biomass technologies will be generated as a result of the positive outcome. Additionally, the pipeline will see an increase. | 4 |
Heckling has always been a challenge for Trudeau, but this time the criticism has become more severe. Despite his initial image as a fresh face and advocate of "sunny ways," after six years in office he is now seen as part of the political establishment with a record of mistakes for opponents to attack. Even if the Liberal Party maintains its control of Parliament, this tough election campaign has not been beneficial for him. Ben Chin, the prime minister's senior adviser, acknowledged that no politician could have maintained Trudeau's initial popularity after being in power for several years and accumulating baggage. During his time in office, Trudeau has faced criticism from opposition leaders for making decisions that not everyone agrees with, including the controversial snap election. His opponents have attacked him for various issues, such as a charity contract involving his family and breaking ethics laws. Despite Trudeau citing accomplishments, his opponents highlight unfulfilled promises. Anti-vax protesters, some supporting the far-right People's Party of Canada, have disrupted his events, leading to increased security measures. Safety concerns have led to the shutdown of rallies and incidents of violence, such as being pelted with gravel. A member of the People's Party was charged with assault using a weapon in a local incident. Since 2015, Trudeau has accomplished various feats such as implementing carbon pricing, legalizing cannabis, addressing Indigenous issues, and banning military-style rifles. Additionally, a new plan is in place to offer daycare for $10 per day per child. Despite a decrease in popularity, Trudeau still holds significant influence. When he visited the outdoor terrace of a cafe in Port Coquitlam, an eastern suburb of Vancouver, for elbow bumps, quick chats, and selfies with voters, a crowd quickly gathered. Joy Silver, a 76-year-old retired schoolteacher from nearby Coquitlam, expressed her admiration for Trudeau by saying, "We love you, we love you." However, as Election Day approaches, many Canadians are questioning why Trudeau is calling for a vote now, two years earlier than scheduled, as COVID-19 cases rise due to the delta variant, straining hospitals and leading to renewed pandemic restrictions in some provinces or delays in lifting them in others. Criticism has also been directed at the timing of the vote, which coincided with the fall of Afghanistan to the Taliban and the struggles of Canadian troops to evacuate citizens and Afghan allies. Gerald Butts, a close friend of Trudeau's and former top political adviser, noted that the campaign has been facing challenges in addressing this issue. Trudeau has acknowledged that the difficulty in effectively communicating their message is one reason they are struggling. He has expressed the need to secure a majority in the House of Commons in order to address the ongoing pandemic and subsequent recovery, without explicitly stating "majority." The Liberal Party's strategy was to capitalize on Canadians' positive perceptions of Trudeau's handling of pandemic issues, such as income support and vaccine procurement, by calling for an election while these views were still favorable. Trudeau emphasized the party's experience, team, and plan to continue delivering results for Canadians at a campaign rally in Surrey. Throughout the 36-day campaign, the Liberals have been neck and neck with the Conservative Party, each holding around 30% of the popular vote, while the New Democrats trail behind at about 20%. Political scientist Kimberly Speers suggests that Trudeau's personal popularity and fame may be working against him in the election. She stated that the NDP and Conservatives have been emphasizing that Trudeau's actions are a power grab and are centered around him, and this message has resonated with voters. Some scandals during Trudeau's time in office have also helped the opposition, such as his veterans affairs minister resigning due to allegations of improper pressure, Trudeau's past instances of wearing blackface or brownface, and a charity connected to his family being awarded a no-bid contract for a COVID-19 financial assistance plan for students. The group pulled out, the program was called off, and Trudeau was given the all-clear by the federal ethics and conflict of interest commissioner. His critics have also pointed out areas where they believe he has not delivered on promises, such as implementing a national prescription drug program, reforming Canada's electoral system, reducing debt in relation to the economy, and addressing issues of sexual harassment in the military and solitary confinement in federal prisons. A study by the Centre for Public Policy Analysis at Laval University in Quebec City revealed that Trudeau has fully fulfilled approximately 45% of his promises, with another 27% being partially completed. Singh has been emphasizing Trudeau's pledge to provide clean drinking water to all Indigenous communities, noting that there were 105 boil-water advisories in effect in First Nations communities when Trudeau first came into office, with more being added later. The government has provided clean water to 109 communities, but there are still 52 boil-water orders in place. Singh suggested that while Mr. Trudeau may care, his actions often lack real substance. O’Toole, on the other hand, has tried to characterize the election as a move for personal gain, describing Trudeau as privileged and self-serving. "He prioritized his own interests when he decided to call for this costly and unnecessary election during a pandemic." Security has been increased at Trudeau's campaign events after disruptions by protesters against COVID-19 vaccination rules. At a rally in Surrey, Trudeau gave an enthusiastic speech to an invited crowd, with no public announcement to control the size due to pandemic restrictions. Police snipers monitored the event from the hall's roof. Trudeau was asked if the unruly protests were inspired by US politics after a rally in Ontario was canceled. His response was indirect, suggesting that everyone should consider whether they want to follow a path of anger, division, and intolerance. He mentioned never seeing such intensity of anger in Canada before. While it is difficult to predict exact seat numbers in the next House of Commons from wider poll results, current polling indicates that Trudeau may have alienated many Canadians with an early election call and faced abuse during campaigning for no political benefit. The Liberals are expected to maintain power but may not achieve the majority they were hoping for, according to Butts. If this scenario unfolds, it will be ironic as it will be similar to the previous situation. | 4 |
Speakers at a seminar have stated that climate change, caused by global corruption, disproportionately affects the least developed countries such as Bangladesh. They argue that industrialized nations bear the most responsibility for the rapid climate change that harms these countries. | 4 |
The gathering in downtown Omaha, Nebraska marked Berkshire's first shareholder meeting since 2019, prior to the impact of COVID-19. Shareholders had the opportunity to ask questions directly to Warren Buffett, Charlie Munger, Greg Abel, and Ajit Jain for five hours. In a significant move, Berkshire increased its investments in Chevron Corp and Activision Blizzard Inc to over $31 billion. Despite facing challenges such as supply chain disruptions, the Ukraine invasion, and inflation, Berkshire reported a first-quarter operating profit of $7.04 billion. Warren Buffett expressed satisfaction at being able to speak to shareholders in person, as the previous two meetings had been conducted without them. Attendees at the event included JPMorgan Chase & Co Chief Executive Jamie Dimon and actor Bill Murray. In his annual shareholder letter in February, Warren Buffett expressed disappointment in the lack of investment opportunities. However, in March, Berkshire Hathaway purchased 14.6% of Occidental Petroleum Corp and agreed to acquire insurer Alleghany Corp for $11.6 billion. Buffett explained that he decided to invest in Occidental after reading an analyst report, and in Alleghany after receiving a letter from its CEO, who had previously worked for Berkshire's General Re business. Buffett noted that sometimes markets present unexpected opportunities for Berkshire to make investments. "It's not due to our intelligence.... I believe we are rational." Berkshire invested $51 billion in stocks during the quarter, causing its cash reserves to decrease by over $40 billion to $106 billion. However, the company has various sources of generating cash, such as its insurance business, and Buffett guaranteed that reserves will not be depleted. "We will consistently maintain a significant amount of cash," he stated. "It's similar to oxygen, always present but if it suddenly disappears, it's game over." During a discussion on the potential for the Ukraine conflict to escalate into nuclear war, Buffett and Jain struggled to provide a clear answer. Jain, who has been praised by Buffett for many years, admitted to having difficulty estimating Berkshire's insurance risk. Buffett mentioned that the risk of a nuclear attack is very low, although the world came close during the Cuban Missile Crisis in 1962. Buffett described the world as constantly taking a chance with each passing day. Berkshire Hathaway does not have a solution to the issue mentioned. Buffett expressed his disapproval of stock markets being compared to gambling, stating that this comparison was particularly prevalent in recent years due to encouragement from Wall Street. Similarly, Munger, aged 98, shared his negative opinion of bitcoin, advising against investing retirement funds in it. Additionally, Munger criticized trading company Robinhood Markets Inc. He and Buffett enjoyed their usual candies from See's, a company owned by Berkshire, and drank Coca-Cola soda during the meeting. Abel defended Berkshire's BNSF railroad, stating that there is room for improvement in operations and customer service to compete with Union Pacific Corp. Buffett reassured shareholders that Berkshire is built to last beyond his and Munger's leadership. Shareholders rejected proposals for more disclosure on diversity and climate risks, as well as replacing Buffett as chairman with an independent chairman. Buffett has led Berkshire since 1965, and Mario Gabelli, a significant investor in Berkshire, opposed ending his chairmanship. "It is not considered inappropriate for companies to consider splitting the roles of chair and CEO," he stated. "However, in the case of Berkshire Hathaway, it doesn't seem necessary as the current CEO has been very successful for the past 50 years. While we support the concept in general, it is not needed in this particular situation." Prior to the 7 am opening of the doors, a large crowd gathered outside the downtown arena where the meeting was held. Despite lower projected attendance compared to 2019, about 10% to 15% of seats in the typically full arena remained empty. Just like at other events sponsored by Berkshire this weekend, almost all of the attendees did not wear masks, but they were required to show proof of COVID-19 vaccination. The meeting was webcast by CNBC.com. Tom Spain, founder of Henry Spain Investment Services in Market Harborough, England, arrived at 3:15 a.m. for his third meeting and brought a chair from Walmart to sit down. He mentioned that everyone has been using the chair and joked about bringing a large container of coffee to share next year. Lauritz Fenselau, a 23-year-old entrepreneur from Frankfurt, Germany, arrived at his first meeting at 4 a.m. describing it as a pilgrimage. Andres Avila, who had traveled from Boston to Omaha, also joined the meeting after only five hours of sleep, arriving at 4:45 a.m. He carried an umbrella to protect himself from the rain and expressed excitement about meeting his idols. | 4 |
In general, the promises made by governments to reduce greenhouse gas emissions are insufficient to prevent a temperature increase of 2 degrees Celsius, which is considered a critical threshold for severe heat waves, heavy rainfall, and rising sea levels. Various organizations, including Christian Aid, Oxfam, the International Trade Union Confederation, and WWF International, stated that the emission reduction goals of major developed countries do not meet their fair responsibilities. This report comes as almost 200 nations gather in Bonn, Germany for talks from Oct 19-23, leading up to a crucial summit in Paris in December to address climate change post-2020. Approximately 150 countries have already submitted their national plans for combating climate change, but there is currently no standardized method for comparing the ambition levels of each nation. The report released on Monday suggested that wealthy individuals should transition from fossil fuels to cleaner energy sources and take on more responsibility due to benefiting from coal, oil, and natural gas use since the Industrial Revolution. The report estimated that the United States and the European Union had committed to about a fifth of their equitable share, Japan about a tenth, while emerging economies were exceeding or meeting their fair share. China was noted for doing more than its fair share by considering emissions since 1950, and Brazil was contributing significantly. Brandon Wu of ActionAid stated that rich countries are failing to bring necessary elements to the negotiation table, including emission reductions and financial contributions. Tasneem Essop of WWF International suggested that Paris should establish mechanisms for enhancing actions through regular science and equity reviews. China and the United States, top emitters, have both expressed ambitious plans, with China aiming to peak greenhouse gas emissions by 2030 and the US seeking to reduce emissions by 26-28 percent by 2025 compared to 2005 levels. If current trends continue, temperatures are projected to increase by 3 degrees C or more above pre-industrial levels by 2100, exceeding the agreed maximum of 2C. | 4 |
The world still has the resources and capability to combat climate change, and countries should not use the financial crisis as an excuse to postpone actions to address global warming, according to a leading expert on carbon. James Cameron, vice-chairman of Climate Change Capital in London, stated at a conference in Australia that recent efforts to mobilize trillions of dollars have shown the strength and magnitude of international cooperation in addressing a global crisis. He warned that governments may prioritize short-term issues over long-term climate change, but emphasized that the ability to collaborate across borders and mobilize capital quickly in times of crisis demonstrates the potential to support market systems while tackling environmental challenges. He suggested that if governments worked together with the same level of cooperation and urgency to address climate change as they did with the financial crisis, both issues could be tackled simultaneously. There are concerns that the financial crisis has already depleted public funds, making countries hesitant to make immediate commitments to address climate change that may impact their economies and jobs. However, Cameron, a prominent investor in clean-energy projects, argued that focusing solely on short-term costs is unwise. He emphasized that investing in solutions to address climate change, despite the economic challenges, is essential in the long run. Climate Change Capital manages over $1.6 billion in funds and specializes in companies and institutions impacted by policy and capital market reactions to climate change, as stated on the firm's website. | 4 |
The professional services firm PwC's sixth annual Low Carbon Economy Index report examined how major developed and emerging economies are progressing in reducing their carbon intensity, or emissions per unit of gross domestic product. Jonathan Grant from PwC noted that there is a widening gap between current achievements and necessary actions, with governments falling short of addressing the 2-degree goal and instead putting us on track for 3 degrees of warming. This discrepancy highlights a disconnect between government pledges and actual progress towards climate change mitigation. Nearly 200 countries have agreed at United Nations climate talks to limit the increase in global temperatures to less than 2 degrees Celsius above pre-industrial levels in order to mitigate the effects of climate change such as heat waves, floods, storms, and rising seas. Current temperatures have already risen by approximately 0.85 degrees Celsius. According to a study, in order to achieve this goal, carbon intensity will need to be reduced by 6.2 percent annually, a significant increase from the 1.2 percent reduction seen from 2012 to 2013. The study also indicates that reaching the 6.2 percent annual reduction target will require changes on a larger scale than recent shifts in energy production in some countries. France transitioned to nuclear power in the 1980s, resulting in a 4 percent decrease in emissions. In the 1990s, Britain's focus on gas led to a 3 percent reduction, while the United States experienced a 3.5 percent decrease due to the shale gas boom in 2012. PwC noted a positive development in emerging economies like China, India, and Mexico, which have been cutting their carbon intensity at a faster rate than industrialized countries. These nations, which are major manufacturing hubs, have emissions 1.5 times higher than developed economies. Australia saw the highest rate of decarbonization for the second consecutive year, with a 7.2 percent reduction in carbon intensity in 2013. Despite being a major coal producer with high emissions per capita, Australia's efforts to reduce emissions have slowed since the government repealed a tax on emissions in July. Britain, Italy, and China all saw a decarbonisation rate of 4-5 percent, whereas five countries - France, the United States, India, Germany, and Brazil - experienced an increase in their carbon intensity. | 4 |
At the UN climate conference in Copenhagen, world leaders have been addressing the attendees as the event approaches its conclusion. The Danish hosts of the summit have tried to manage expectations by downplaying the likelihood of a comprehensive agreement, but some leaders remain hopeful. French President Nicolas Sarkozy stated that people are in favor of maintaining the Kyoto protocol, suggesting that it should be retained. Let's come to a consensus on a broad political framework. We are running out of time, so let's put an end to empty talk. A breakdown in Copenhagen would be disastrous for all of us. We need to accelerate our efforts in this conference or we will be facing a disaster. We have less than 24 hours left. If we continue in this manner, it will result in failure. Our goal here is not to simply hold a conference on global warming, but to actually make decisions. UK Prime Minister Gordon Brown emphasized the importance of taking action in Copenhagen, as the decisions made there will have long-lasting effects. US Secretary of State Hillary Clinton expressed concern about the lack of transparency from China, which is the second biggest emitter of greenhouse gases. There needs to be a readiness to embrace transparency in any chosen platform. Without a dedication to pursuing transparency, it is a dealbreaker for us. Israeli President Shimon Peres urges neighboring countries, even those without existing diplomatic relations, to come together to protect the region. Political differences should not impede environmental collaboration, as carbon molecules do not have a nationality. Rivers do not need a visa to cross borders, but they can carry pollution with them. People of different religions, including Jews, Muslims, and Christians, hope that the Jordan River remains clean and sacred. Iranian President Mahmoud Ahmadinejad believes in the importance of taking care of the environment, following the example set in the Bible of Adam tending to the Garden of Eden. Ahmadinejad has strong opinions on what is causing environmental destruction and has proposed solutions to combat this issue. I am hopeful that those who are causing the most harm to the environment will agree to international commitments and help us establish a fair framework by reducing destruction and supporting programs to mitigate its consequences. It is crucial for all countries to have access to new technologies in order to diversify their energy sources and utilize clean and renewable energy options like wind, solar, sea tide, geothermal, and nuclear power. According to Chinese Climate Change Ambassador Yu Qingtai, the success of Copenhagen is vital and China is not interested in participating in the blame game. Instead, he believes that some countries are trying to shift blame onto others to cover up their obstructive and unconstructive behavior during the negotiations. INDIAN ENVIRONMENT MINISTER JAIRAM RAMESH believes that the main obstacle to progress is some parties' desire to unilaterally abandon agreements, which has led to a lack of trust and a blame game. MICRONESIA PRESIDENT EMANUEL MORI appeals for assistance in saving his people and other small island nations, in order to protect the planet for future generations. JAPANESE ENVIRONMENT MINISTER SAKIHITO OZAWA questions whether developing nations will accept an agreement without the participation of the US, China, and other countries. Currently, the main issue lies within these nations. Venezuelan President Hugo Chavez has noticed various slogans in the streets, one of which stated "don't change the climate, change the system." He believes that we should adopt this mindset and focus on transforming the system rather than altering the climate. As a result, we will start protecting the planet. Capitalism is a harmful system that is leading to the destruction of life. Another well-known saying is, "if the climate was a bank, you would have already saved it", and I believe this to be true. If the climate were a large capitalist bank, the wealthy governments would have already taken action to save it. - Marcus Stephen, President of Nuaru (South Pacific). Nuaru is a small island nation, covering just 21 sq km (8 sq miles). We are faced with the dilemma of how much of our island we should be willing to sacrifice, as we are surrounded by the Pacific Ocean and have no other options due to rising sea levels. Greek Prime Minister George Papandreou urges us to stop playing the blame game and emphasizes that we must not disappoint the world or our children. We are present and accountable for the future of our world. Our voices need to turn this dream into a tangible reality. Australian Prime Minister Kevin Rudd expresses concern about prioritizing style over substance and inaction over action. He emphasizes the importance of collective action to ensure sustainable development as the planet's capacity is at risk. I am concerned that at this conference, we are on the brink of failing all the children of the world. Each person here will be held accountable for their actions or inaction. South African President Jacob Zuma believes that the decisions we make are crucial for the survival of the global population. We must work together and make serious choices as we are facing a threat to humanity's existence. The most important thing is to prioritize taking action, rather than focusing on personal gain while others suffer. South Korean President Lee Myung-Bak emphasizes the importance of reducing greenhouse gas emissions, as the decisions made today will impact not only us but also future generations. To truly make a difference, we must work together and take action collectively, rather than waiting for others to take the first step. UGANDAN ENVIRONMENT MINISTER MARIA MUTAGAMBA expressed concern about the inability to follow normal procedures and the sidelining of certain parties in the negotiation process. She remains hopeful for reaching an agreement. NORWEGIAN PRIME MINISTER JENS STOLTENBERG emphasized the critical stage of the conference and called for all parties to take responsibility for reaching an agreement the following day. He stressed the importance of ambitious emissions targets and the principle of common but different responsibilities, with wealthier nations bearing the main responsibilities. All nations must make a contribution, and Norway is committed to taking responsibility. We aim to reduce our greenhouse gas emissions by 30% by 2020, and if a strong global climate agreement is reached, we will strive to achieve carbon neutrality by 2030. Prime Minister Edward Natapei of Vanuatu expresses concern for the recent devastation caused by a cyclone in Fiji, which has displaced thousands of people and caused extensive flooding. This is just a preview of what could escalate into a more severe situation if there is no ambitious climate agreement in place. | 4 |
The head of the UN climate panel is hopeful that the climate talks in Bali will conclude on Friday with a clear schedule for implementing cuts in greenhouse gas emissions to combat dangerous global warming. The talks, involving 190 nations, are focused on starting discussions on a global agreement to address global warming. However, negotiations have stalled over emissions targets, with the United States, Japan, and Canada opposing specific numerical goals. Rajendra Pachauri, who recently accepted the Nobel Peace Prize on behalf of his UN panel, emphasized the importance of establishing a strong commitment to reducing emissions by 2020 and setting a clear timeline for determining the numbers. He suggested that reaching an agreement on a timetable could lead to the adoption of concrete targets for emissions reductions by wealthy nations, possibly within six months. Pachauri also noted the value of explicitly mentioning targets for emissions reductions by 2020. The UN panel this year attributed global warming to human activity and warned of increased heatwaves, floods, droughts, and rising sea levels. The panel emphasized the need for strict mitigation of greenhouse gas emissions by 2050, suggesting that specific reduction targets should be determined within the next six months. The Bali talks, taking place from Dec. 3-14, are focused on establishing guidelines for formal negotiations on a new agreement to replace the Kyoto Protocol, which currently regulates greenhouse gas emissions for industrialized nations (excluding the US) until 2012. The EU is advocating for a non-binding target for industrialized economies to reduce emissions by 25 to 40 percent below 1990 levels by 2020. The United States, Japan, and Canada are against providing any figures as they believe it would be prejudging the outcome. Pachauri, the chairman of the Intergovernmental Panel on Climate Change, did not address the U.S. opposition directly but expressed hope that the negotiations would resolve all differences. He stated that he hopes the disagreement can be resolved and mentioned that discussing strict targets of 25 to 40 percent is a positive sign that they acknowledge the scientific evidence and the necessity of reducing greenhouse gas emissions. Pachauri also warned of the serious impacts of climate change if action is not taken. | 4 |
The 78-year-old pontiff delivered a message that America's power and wealth should be used to serve humanity, stating that the United States must not ignore "the stranger in our midst." Francis addressed the Republican-led Congress in Washington, emphasizing the importance of building a nation through positive relations with others and rejecting hostility. Born in Argentina to an Italian immigrant family, Francis spoke on issues important to liberals in the US while also highlighting conservative values and Catholic teachings on family. He called for an end to the death penalty worldwide, advocated for a more equitable economy to help those in poverty, and urged greater efforts against climate change caused by human activities. The pope was later cheered by crowds in New York as he traveled to St. Patrick's Cathedral in his "popemobile." With the accompaniment of organ music and a choir, the pope was warmly received by a crowd of 3,000 in the cathedral for an evening prayer service. Following this, Francis is scheduled to speak at the United Nations General Assembly in New York on Friday and hold an open-air Mass in Philadelphia on Sunday. His message on immigration was met with applause, primarily from Democrats but also from Republicans, during his historic address to a joint meeting of the U.S. Congress. The issue of illegal immigration has been a prominent topic in the race for the Republican nomination for the 2016 presidential election, with front-runner Donald Trump proposing the deportation of all 11 million illegal immigrants, many of whom are from Latin America like the pope. Trump has also made controversial statements accusing Mexico of sending criminals across the border. Francis, discussing a problem that has caused the Republicans to lose support among Hispanic voters, stated that America should not be alarmed by the influx of immigrants from south of the border seeking a better life. He emphasized the importance of seeing immigrants as individuals with their own stories and responding to their needs with empathy and fairness. He spoke in a gentle tone with a strong accent, and was accompanied by House Speaker John Boehner and Vice President Joe Biden, both prominent Catholics in America. Boehner was visibly emotional during the speech, often shedding tears. The United States has struggled for a long time with the issue of illegal immigrants. Last year, Republicans in Congress blocked a bipartisan effort to change immigration laws that could have given illegal immigrants a chance to become US citizens. According to a Pew Research Center poll in May, 51 percent of 2,002 U.S. adults believe immigrants strengthen the country with their hard work and talents, while 41 percent see them as a burden because they take jobs, housing, and healthcare. It is uncertain whether the pope's speech will change people's opinions on immigration. "It doesn't impact my views," said Michael Tipsword, a student at George Washington University and a Catholic. Tipsword, a self-proclaimed conservative, stated that Francis' stance on immigration is more driven by humanitarian concerns rather than political motivations. Standing in front of the US Capitol, he listened to the pope's speech alongside thousands of others. Francis referenced American icons Abraham Lincoln and Martin Luther King Jr., emphasizing the importance of unity in politics for the greater good. Presidential candidates on both sides of the spectrum interpreted the pope's words as aligning with their own beliefs. In his speech, Francis also touched on the issues of abortion and euthanasia, stressing the need to protect and defend human life at all stages of development. He quickly shifted his focus to advocating for the abolition of the death penalty, emphasizing the value of every life and the potential benefits of rehabilitating those convicted of crimes. He also condemned the global arms trade driven by money tainted with innocent blood, urging an end to the silence surrounding this issue. Additionally, Francis expressed his disapproval of same-sex marriage and highlighted the importance of supporting the poor by visiting a group of homeless individuals immediately after his speech at the US Capitol. | 4 |
The World Bank stated that cities should have a larger role in fighting global warming compared to governments that are struggling to reach a UN climate agreement. According to Andrew Steer, the World Bank's special envoy for climate change, the top 10 cities in the world emit more greenhouse gases than Japan. He suggested that reforms, such as changes to carbon markets, could help cities become more environmentally friendly. A World Bank report highlighted that urban areas, which house over half of the world's population and produce two-thirds of greenhouse gas emissions, could contribute to combating climate change by adopting greener transportation, clean energy, and improved waste recycling. Steer emphasized that cities are both the main cause and potential solution to climate change. The report stated that the world's largest 50 cities have significant economic influence, with a combined gross domestic product ranking second only to the United States and surpassing China. The report highlighted that cities like Tokyo and New York have economies larger than countries like Canada or Turkey. The UN climate talks, aiming to reach an agreement on measures to address global warming, face challenges due to the diverse opinions of the 194 countries involved. In 2008, over 1,000 US mayors committed to reducing greenhouse gases in line with the UN's Kyoto Protocol, despite the fact that the US government never ratified the accord. Many major cities around the world, like Tokyo, Shanghai, New York, and Buenos Aires, are located near bodies of water and therefore have a strong incentive to take action to reduce the risks of flooding and rising sea levels. The World Bank is in favor of restructuring the UN market mechanism that currently promotes investments in specific projects in developing countries, such as installing solar panels in Morocco or developing hydropower in Honduras, in order to allow for a more comprehensive, city-wide approach. This proposed reform of the UN's Clean Development Mechanism (CDM) would enable city mayors to secure funding for a range of initiatives, from flood defenses to eco-friendly transportation, without needing approval for each individual project. The CDM currently allows companies to invest in environmentally friendly projects in developing nations and receive credits for reducing emissions in their home countries. Steer also mentioned that city residents' opinions on the best places to live were changing. In the past, areas with high industrial pollution, like the east side of London, were inhabited by the poor. However, in the future, low-lying areas prone to river floods or rising sea levels will be the new homes for the less fortunate. | 4 |
The UN climate agency has called for a special summit to address climate change, but may consider high-level ministerial talks if world leaders are not on board. Yvo de Boer, head of the UN Climate Change Secretariat, stated that UN Secretary-General Ban Ki-moon has agreed to send envoys to assess government interest in a high-level meeting on global warming. Ban's envoys will explore the possibility of a meeting on the sidelines of the UN General Assembly in September, which may not necessarily involve heads of state. "It might be on a different scale, like foreign affairs or energy ministers." Ban stated on March 1 that global warming was as serious a threat as war and called on the US to take the lead in addressing climate change. Despite pleas from UN environment agencies, Ban's spokeswoman said there were no immediate plans for a summit. De Boer clarified that the idea was not a change of heart but rather an exploration of a high-level meeting involving various sectors such as foreign affairs, energy, trade, economy, and transport. "It requires a more extensive effort and broader backing," he stated, regardless of whether leaders convene. International discussions on ramping up efforts to combat climate change, largely attributed to the burning of fossil fuels, have come to a standstill. Reports from the UN this year indicate that human activities are highly likely to be causing global warming, which could lead to increased hunger, droughts, floods, heatwaves, melting glaciers, and rising sea levels. De Boer emphasizes the need for hastening discussions on expanding the UN Kyoto Protocol, which mandates emission reductions for 35 industrialized nations until 2012. The United States and Australia withdrew from the agreement in 2001, citing concerns about the cost of compliance. The Kyoto nations account for only around one-third of global carbon dioxide emissions, which is the main greenhouse gas. Among the top four emitters, only Russia is obligated to a Kyoto target. De Boer suggested that a new meeting could complement, rather than replicate, a Group of Eight summit in June where German Chancellor Angela Merkel plans to prioritize climate change. The G8 summit will include leaders from China, India, Brazil, Mexico, and South Africa, who combined represent the majority of global carbon dioxide emissions. De Boer mentioned that the G8 summit does not include certain groups like small island states, the poorest nations in sub-Saharan Africa, and Australia, which are all affected by rising sea levels. The next round of formal UN climate negotiations will take place in Bali, Indonesia in December, where environment ministers will meet. | 4 |
Ugandan authorities have discovered an unexploded suicide vest and have detained six individuals suspected of planning the bombings that killed 76 soccer fans. The attacks, carried out by Somali al Shabaab Islamists with links to al Qaeda, targeted a restaurant and a rugby club in Uganda's capital during the World Cup final. A U.S. official stated that there are indications the group's claim of responsibility is credible, marking the first time al Shabaab has attacked outside of Somalia. President Obama described the timing of the explosions during the World Cup as "tragic and ironic." Obama stated that there are two contrasting visions for Africa - one of progress and unity, and the other of destruction and death by groups like al Qaeda and Al Shabaab. The U.S. government is working with Uganda and other regional governments to assess the threat of further attacks and share intelligence for appropriate actions. Despite a warning received by Ugandan intelligence officials, the U.S. government claims to have had no prior knowledge of the attack. According to a source in Uganda, an informant from the Kisenyi suburb of Kampala reported on June 17 that there were plans for an attack during the World Cup by some Somalis. The official mentioned that more than 20 individuals, including Somalis and Ugandans, were involved in planning the attacks. Six people have been arrested so far. Al Shabaab has threatened more attacks unless Uganda and Burundi withdraw their peacekeepers from the African Union peacekeeping force in Somalia, where the militants are in conflict with the government and control significant portions of the country. Police stated that the suicide vest discovered at a third location on Monday was intended to be planted rather than worn. A man named Yonis, who claimed to be the assistant to al Shabaab spokesman Sheikh Ali Mohamud Rage, told Reuters that those who carried out the attack were blessed with rage and expected to have a long life, indicating that it was not a suicide bombing. He also mentioned that al Shabaab has banned alcohol and watching soccer matches in areas under its control, and noted that coordinated attacks are a common tactic of al Qaeda and groups associated with Osama bin Laden's militant network. For al Shabaab, this would mark the first instance of the militants expanding their efforts for power beyond national borders. U.S. Homeland Security Secretary Janet Napolitano expressed concern about this new development, stating that there is a growing awareness of al Shabaab's increased reach. She emphasized the importance of enhancing preparedness, prevention, and interception measures to prevent any potential terrorist attacks. A U.S. official in Washington noted that al Shabaab, which has connections to al Qaeda in East Africa and al Qaeda in the Arabian Peninsula, has been under surveillance by the U.S. authorities. The official stated that the attack in Kampala was consistent with threats to expand targets, but did not directly address whether the group posed a specific threat to the United States. President Obama mentioned in an interview with South African Broadcasting Corp that terrorist organizations do not value African life and see it as a place to carry out ideological battles regardless of the consequences. The African Union confirmed that Uganda would still host a summit of African leaders and remain committed to peacekeeping efforts. IGAD declared they would not be intimidated and would continue to support the government in Somalia, with plans to increase peacekeepers to over 8,000 by the second week of August. Last week, members of IGAD, including Kenya, Uganda, Sudan, Ethiopia, Somalia, and Djibouti, stated their desire for 20,000 troops from the AU and United Nations to be deployed in Somalia. Uganda's opposition party, the Forum for Democratic Change, called on President Yoweri Museveni to withdraw his peacekeepers and indicated that they would do the same if they won the 2011 elections. The party spokesperson, Wafula Oguttu, expressed that there is no peace to maintain in Somalia and that Uganda has no strategic interests in the region. He criticized the sacrifice of Ugandan soldiers in Somalia as being without purpose. Some analysts believe that a sustained bombing campaign could harm Uganda's investment climate, but a single attack was unlikely to deter major companies like Tullow Oil from investing in the country. Foreign investment in the third largest economy in East Africa has increased significantly due to oil exploration along the western border with the Democratic Republic of Congo. Among the casualties, one American was killed and five others were injured and taken to Johannesburg and Nairobi for treatment. The U.S. State Department reported that an FBI team is currently in Kampala. | 4 |
Activists and left-wing leaders emphasized the importance of big polluting countries aggressively reducing greenhouse gases and considering input from smaller nations in order to combat global warming. They gathered in Bolivia's Cochabamba region as an alternative to the unsuccessful Copenhagen summit, which they felt excluded many countries and environmental groups. The activists argue that industrial powers undermined the Copenhagen summit by failing to commit to significant emissions cuts, and they are calling for a more ambitious target of a 50 percent reduction in emissions from leading industrial nations. Bolivian President Evo Morales urged developed countries to listen to the voices of the people and make decisions that benefit everyone at the upcoming climate change meeting in Mexico. Earlier at the summit, Morales sparked controversy by suggesting that consuming chicken fed with hormones can lead to "sexual deviation" in men and that European men experience hair loss due to their consumption of genetically modified food. The World People's Conference on Climate Change and the Rights of Mother Earth, attended by approximately 20,000 environmentalists and representatives from 90 governments, targeted capitalism, genetically modified food, and global warming. Indigenous groups from around the world participated in the event in Tiquipaya, which featured various activities such as concerts, theater performances, a handicrafts market, and artists creating murals. Bolivia, Venezuela, Cuba, Nicaragua, Ecuador, Sudan, and Saudi Arabia, all part of a leftist coalition of Latin American countries, have strongly opposed the Copenhagen accord, arguing that climate change disproportionately impacts the Global South, despite being primarily caused by the Global North. Canadian author Naomi Klein stated that if the simple fact of justice and decency is acknowledged, it means that southern countries are no longer begging for aid. Klein, who is known for her activism against global warming, believes that the Cochabamba meeting could help establish an alliance among nations already experiencing the effects of climate change. She emphasized the importance of unity among developing countries and the need for a more empowered position. The meeting in Cochabamba resulted in the resolution to create an international tribunal to hold those responsible for global warming accountable. Additionally, it called for a global referendum on climate change and the establishment of a fund to assist nations in dealing with the effects of global warming. The resolutions made at the summit are not mandatory, but countries and social organizations that participated have promised to promote them leading up to the United Nations summit on climate change in Cancun, Mexico in December. Alicia Barcena, the top UN representative at the meeting, acknowledged that grassroots groups were excluded from the Copenhagen summit and expressed doubts about the effectiveness of the upcoming Cancun summit. She suggested that the Rio+20 Earth Summit on Sustainable Development in Rio de Janeiro in 2012 should be the focus, as she believes Cancun may not be able to address the issues adequately. | 4 |
The EU executive has urged European Union states to fulfill their promises to increase aid to poor countries, cautioning that failing to meet U.N. goals would have dire consequences for developing nations and global stability. Despite progress towards the Millennium Development Goals, millions of children still die from preventable diseases each year, many lack access to clean water, millions of children are without primary education, and hundreds of millions of women are illiterate. The Commission emphasized the importance of achieving the Millennium Development Goals, calling for increased political and public support in order to meet the targets by 2015. EU states were urged to honor commitments to increase development aid to 0.56 percent of GNI by 2010 and 0.7 percent by 2015, as this is crucial in addressing issues such as migration, security, and climate change. It urged all 27 EU states to create financial plans demonstrating yearly increases to achieve the goals. Despite being the largest aid donor globally, the EU provided over 46 billion euros in 2007, which was a decrease of about 1.7 billion euros from the previous year. This reduction in funds could have funded 4,500 schools or 1,200 hospitals. Aid and development Commissioner Louis Michel criticized this as a "serious failure". The Commission highlighted the need for more effective aid by preventing redundant efforts, assisting developing countries in utilizing biofuels to combat poverty, and taking measures to reduce brain drain, especially in health, education, and research sectors. The Commission stated that essential aid effectiveness principles are still not being followed and announced plans to propose improvements on a country-by-country basis. The text called for 2 billion euros ($3.15 billion) to be allocated by 2010 to the Aid for Trade programme, which aims to help poorer countries take advantage of export opportunities, with a special focus on African, Caribbean, and Pacific states. Commission President Jose Manuel Barroso emphasized the need for action in 2008, stating that delivering on promises is essential for credibility. A recent report by the Organisation for Economic Cooperation and Development revealed a decrease in development aid from major donors last year, mainly due to the conclusion of large debt relief packages. In 2000, 189 U.N. members agreed on goals to eradicate poverty, promote human and social development, and protect the environment. In 2005, EU leaders set goals for 2015 including reducing extreme poverty by half, ensuring primary education for all children, and enhancing health standards. Aid levels in the EU were slightly below the target of 0.39 percent of GNI in 2006 but were met in that year. The European Commission reports that Official Development Assistance was 93 euros per EU citizen, higher than the amounts in the United States (53 euros) and Japan (44 euros) per person. | 4 |
However, some Oscar voters are expressing concerns about whether there are enough great films to choose from this year. Despite this, the selection of Oscar contenders is diverse, ranging from big-studio blockbusters to intimate international dramas. If voters feel there are not enough options to fill out their ballots, it may be because they have not explored all the available choices. While some front-runners have emerged, there are still many exciting films that could make it into this year’s lineup. Six movies are currently seen as having the best chances for a best-picture nomination, with additional films also deserving consideration. One film in particular, "West Side Story," directed by Steven Spielberg, has generated speculation about its potential to win best picture at the Oscars, much like the original 1961 version did. After receiving standing ovations this week, the film "West Side Story" has been placed in the top position by me. Spielberg's clever reinterpretation of the original material combines classic grandeur with modern concerns, making the movie a favorite among Oscar voters. Following last year's smaller Academy Awards, a large-scale Steven Spielberg musical premiering exclusively in theaters is just the type of project that the film industry — and the Oscars themselves — will likely support. On the other hand, "Belfast" is a movie that exudes modesty: it is only 97 minutes long, it never tries too hard, and it concludes at the perfect moment. However, could this same modesty prevent it from achieving the top spot at the Oscars? Kenneth Branagh's film "Belfast" has been well received by many in the academy, but "West Side Story" is noted for its grandeur. While "Belfast" has earned a respectable $5 million at the box office, it has not yet attracted the older art-house crowd needed for sleeper hit status. Meanwhile, Jane Campion's "The Power of the Dog" has generated buzz for the performances of Benedict Cumberbatch and Kirsten Dunst, with potential for Oscars. Campion, who made history in 1994 as the second woman nominated for best director, may have a better chance at winning in that category than for best picture. The movie 'King Richard' tells the story of Richard Williams, the father of tennis stars Venus and Serena, and is expected to be a strong contender for best actor at this year's Oscars with Will Smith in the lead role. The success of best actor winners in recent years has been linked to films also nominated for best picture. However, the film received negative attention for its weak opening weekend at the box office. In contrast, the trailer for 'Being the Ricardos,' directed by Aaron Sorkin, created controversy by downplaying Nicole Kidman's portrayal of Lucille Ball as potentially disastrous. However, once the film started screening for enthusiastic guild audiences, Kidman's unexpected transformation into a smoky-throated character brought her closer to a potential second Oscar. With a talented supporting cast that includes Javier Bardem as Desi Arnaz, as well as J.K. Simmons and Nina Arianda, "Being the Ricardos" (set to open later this month) is poised to make a strong showing during awards season. Adam McKay's latest satire, "Don't Look Up" (also set to release later this month), has garnered attention from the Academy due to the success of his previous issue-based comedies like "The Big Short" and "Vice." This star-studded ensemble comedy, featuring Oscar favorites like Streep, Leonardo DiCaprio, Jennifer Lawrence, Mark Rylance, and Jonah Hill, centers around a comet threatening the end of the world, serving as a metaphor for the climate crisis with added resonance during the current worldwide pandemic. In a crowded field of period-piece contenders, "Don't Look Up" stands out with its bleak vision of a future in crisis, making it a timely and impactful film. These are six films to keep an eye on during awards season. So, which other films are still in the running for the last four spots in contention? It is important to have a strong best-actor candidate leading your movie. Anticipate a strong push for the musical "Cyrano" starring Peter Dinklage, Lin-Manuel Miranda's "Tick, Tick... Boom!" with Andrew Garfield, and Joel Coen's "The Tragedy of Macbeth" featuring Denzel Washington. Additionally, Joaquin Phoenix's "C'mon C'mon" should not be overlooked, despite being a tender drama about child-raising. It is hoped that when voters choose their best-actress selections, they will recognize that some exceptional films of the year are competing in that category and deserve consideration for a best-picture nomination as well. The group of potential Oscar contenders includes "Licorice Pizza" by Paul Thomas Anderson, featuring musician Alana Haim in her acting debut, and "Parallel Mothers" by Pedro Almodóvar, which earned Penélope Cruz the Volpi Cup for best actress at the Venice Film Festival. Renate Reinsve won best actress at Cannes for "The Worst Person in the World," a romantic dramedy deserving of more awards attention. "The Lost Daughter" by Maggie Gyllenhaal, won big at the Gotham Awards, including a trophy for Olivia Colman's lead performance. Kristen Stewart is a strong contender for an Oscar for her role as Princess Diana in "Spencer," but the film's chances for a best picture nomination remain uncertain. The academy's recent efforts to diversify its voting base could benefit Asghar Farhadi, whose new film "A Hero" may earn a best picture nomination. Paolo Sorrentino's "The Hand of God" is another potential contender for best director. I am interested in the movie "CODA," which follows the story of a hearing daughter in a deaf family. Despite a successful Sundance sale at the beginning of 2021, the film did not receive much attention when it premiered on Apple TV+ in the summer. However, winning two awards at the Gotham Awards may help boost its popularity. On the other hand, the science fiction film "Dune" is expected to be a strong contender in technical categories. Despite "West Side Story" potentially relieving the pressure to nominate "Dune" for best picture, the film is still a strong contender due to its high quality and the director Denis Villeneuve's efforts to fight against corporate decisions. Let's be honest: The best-picture montage for this year will be more visually appealing with the inclusion of huge sandworms. | 4 |
A draft report for European Union finance ministers suggests that poor countries will require approximately 100 billion euros ($142 billion) annually by 2020 to assist them in reducing emissions as part of the effort to combat climate change. This report, obtained by Reuters, follows the EU's announcement of plans to hold competitive tenders for funding from wealthier countries, allowing poorer nations to showcase their most cost-effective projects for reducing carbon emissions. These developments reflect the EU's preparations for the upcoming global climate negotiations in Copenhagen in December. Finance ministers are set to discuss and refine the bloc's position at a meeting next Tuesday. At the heart of the Copenhagen talks will be the challenge of securing the necessary funding to encourage developing nations to reduce emissions, as well as additional support to help them adapt to the impacts of climate change that they attribute to wealthy, industrialized nations. Between half and two-thirds of the most cost-effective options for reducing greenhouse gas emissions by 2020 or 2030 can be found in developing countries, according to the EU's Economic Policy Committee and the Economic and Financial Committee in a report on funding needs. Environmentalists view this as a recognition by Europe's economic experts of the necessity to support developing nations in the battle against climate change. Greenpeace campaigner Joris den Blanken questions whether finance ministers will heed their own experts or endorse the acknowledgment of the needs of developing countries. Despite the fact that emissions reductions by poorer nations could partially pay for themselves through decreased reliance on costly fossil fuels, an additional 100 billion euros per year in investments will still be required by 2020. This funding would cover 71 billion euros for cleaning up industry and energy sectors, 18 billion to combat deforestation, and 5 billion to reduce emissions from agriculture. The report mentioned that while the numbers may seem large, they are actually less overwhelming when compared to the substantial subsidies for fossil fuels and agricultural subsidies in various countries. In addition to reducing their own emissions, poorer nations will also require assistance in adapting to the effects of climate change, such as developing drought-resistant crops and building infrastructure to combat rising sea levels. The exact cost of adaptation in developing countries is challenging to determine due to uncertainties about the extent and impact of global warming. However, the report provided a rough estimate that adaptation costs in all developing nations could amount to 23-54 billion euros annually by 2030. | 4 |
Prime minister Sheikh Hasina will aim to bring together countries most affected by climate change in order to push for climate funds during the upcoming 64th session of the United Nations General Assembly and Climate Summit. According to foreign secretary Mohamed Mizarul Quayes, Hasina will address various climate change issues and engage in discussions with leaders of countries that contribute UN peacekeeping troops. She is set to depart on September 21 for the US, where she will stay for a week before returning on September 29. Hasina is scheduled to participate in a meeting on September 22, convened by UN secretary-general Ban Ki-Moon, with 25 heads of state and government to address climate change and seek compensation for least developed countries, including Bangladesh, which chairs the LDC Group. Quayes stated that the outcome relies heavily on the position of other nations impacted by global warming. Bangladesh is particularly vulnerable to the effects of climate change due to human-made carbon emissions and is in need of financial and technological aid for adaptation. Developing countries argue that they will suffer the most from climate change despite having the least responsibility, and wealthier nations should take on their financial obligations. The UN and World Bank have called on wealthy nations to acknowledge their moral duty in this matter. US President Barack Obama and Sheikh Hasina are expected to participate in a meeting with nine countries that contribute significantly to UN peacekeeping efforts. Bangladesh is a major contributor to peacekeeping missions, with approximately 10,000 personnel from the country involved in various missions worldwide. The United Nations has around 115,000 troops, police, and civilians in 16 peacekeeping missions across Africa, the Middle East, Cyprus, Kosovo, Western Sahara, and Haiti. However, these missions face challenges such as a lack of personnel and equipment, as well as shortages of helicopters and other key assets. Foreign Minister Dipu Moni, currently in the US, will participate in a ministerial meeting before the general assembly. Moni recently met with World Bank Vice President for the South Asia Region, Isabel Guerrero, in Washington DC to discuss the bank's regional plans. Previously, on September 17th, Dipu Moni had a meeting with US Secretary of State Hillary Clinton. Dipu Moni is expected to fly back to Bangladesh in the early days of October. | 4 |
Speaking at the One Planet Summit in Paris, the Prime Minister of Bangladesh announced plans to increase tree coverage by two percent within the country over the next five years. She called on developed nations to uphold their commitments to climate justice and stressed the importance of shared responsibility in securing the world. The summit, which took place at the Elysee Palace and included leaders from various levels of government and finance sectors, aimed to enhance global efforts in combating climate change. Despite being a developing nation, Bangladesh allocates over one percent of its GDP to combatting climate change, as it is one of the most vulnerable countries to its impacts despite not being a major contributor to the issue. Despite our limited resources, we are dealing with the impacts of climate change through both mitigation and adaptation. At the One Planet Summit in Paris, Prime Minister Sheikh Hasina of Bangladesh highlighted the challenge her country is facing due to the influx of over a million Rohingya refugees from Myanmar. President Macron welcomed her and acknowledged the strain this crisis has put on Bangladesh's forest and environment in Cox's Bazar. In this scenario, dealing with climate adaptation has become a significant challenge. Highlighting afforestation as a crucial solution to combat environmental degradation, she mentioned a project worth $50.76 million is in progress for the preservation of the Sundarbans, the largest mangrove forest in the world. The prime minister added that in the coastal area, efforts are being made to create green belts to shield people from cyclones, tidal surges, coastal erosion, and intrusion of saline water. Approximately 67,000 hectares of land have been earmarked for afforestation in this region. Bangladesh is intensifying its endeavors to make its agriculture resilient to climate change, and is also focused on reducing reliance on groundwater for urban water supply. Commending Macron's leadership on this issue, Hasina reaffirmed her dedication to implementing the Paris climate accord of 2015. The prime minister remembered the unveiling of the Global Pact for the Environment at the United Nations in September of this year. She expressed her belief that working together for resilience and adaptation would help promote peace, stability, prosperity, and reduce inequalities within societies. | 4 |
During negotiations, the G77 and China left the discussion at 3am BdST on Wednesday due to developed countries refusing to allocate funds separately for loss and damage. The US, Australia, and Canada were in favor of a separate mechanism for the issue of loss and damage. Developing country negotiator Quamrul Islam Chowdhury mentioned that the walkout occurred because some parties were trying to simplify the issue into just disaster risk reduction. Differences among the parties included whether the institutional mechanism should be independent or under the adaptation commitment. Developed countries were resistant to providing financial support for the loss and damage mechanism. Bangladesh delegation expressed disappointment at the lack of agreement on an institutional mechanism for loss and damage, emphasizing the importance of addressing mitigation, adaptation, technology development, and capacity building for a legally binding agreement in Paris in 2015. The delegation held a press conference to convey their concerns and expectations for the negotiations. | 4 |
Cameron is eager to launch strikes against Islamic State in Syria quickly, believing that Britain can no longer rely on other countries for its security. His efforts to gain approval for the action in the House of Commons have caused further divisions within the Labour Party. Labour leader Jeremy Corbyn criticized Cameron for moving too fast towards war and urged Labour lawmakers to reconsider their support for the government's military efforts in Syria. Cameron stated that his cabinet had agreed on a motion to extend air strikes to Syria, emphasizing the need for military action against Islamic State as part of a broader strategy. The parliamentary debate on the issue is expected to last 10-1/2 hours. When asked about the likelihood of securing a majority, he responded by saying, "Let's see what happens." Cameron is almost certain to receive approval from parliament, as Corbyn announced that members of his party would be allowed to vote based on their conscience, rather than being instructed by party leaders. Reports suggest that around 50 Labour MPs will vote in favor of the government, despite their leader's efforts to change their minds. Corbyn argued that Cameron's justification did not align with his party's expectations, stating that MPs must decide for themselves whether British troops should be involved in another Middle East conflict without a clear end goal. Many British people are hesitant to engage in further expensive military actions in the Middle East due to the failures of previous interventions in Iraq, Libya, and Afghanistan. Some believe that these interventions contributed to the emergence of militant groups like the Islamic State. Finance minister George Osborne stated that extending air strikes into Syria would cost "low tens of millions of pounds". However, after Islamic State claimed responsibility for the Paris attacks, some members of parliament who were previously opposed to air strikes now believe they are necessary to protect Britain. Defence Secretary Michael Fallon emphasized the "urgent need" for Britain to launch air strikes against Islamic State in Syria for the country's security. | 4 |
In a letter to the International Monetary Fund Executive Board, Covington & Burling attorney Lanny Breuer raised concerns about alleged errors in the investigation report conducted by WilmerHale, a law firm hired by the World Bank's board to look into data irregularities in the "Doing Business" rankings. The WilmerHale report suggested that while Georgieva was World Bank CEO in 2017, she pressured staff to manipulate data to improve China's ranking while seeking support for a capital increase. Georgieva denies these claims. Breuer, a former US Justice Department official, brought forth these new allegations as Georgieva seeks support from the IMF board. The board interviewed both Georgieva and WilmerHale and will further discuss the issue on Friday. According to a source from the French Finance Ministry, France plans to support Georgieva at the upcoming board meeting. Georgieva denied the accusations of pressuring staff to alter data, calling them "outrageous and untrue," and claimed that some of her statements were taken out of context by WilmerHale. Her attorney, Breuer, stated that Georgieva has not been informed that she is under investigation or given a chance to review and respond to the report's findings, as outlined in Staff Rule 3.00 covering World Bank Office of Ethics and Business Conduct procedures. Georgieva publicly released a detailed statement to the board on Thursday. The report from WilmerHale stated that their investigation initially focused on board officials in accordance with the Code of Conduct for Board Officials, which is different from the staff rule mentioned by Breuer. The firm made it clear that they followed all World Bank rules during their investigation and informed Dr. Georgieva that their report would be presented to the World Bank Board. In an email from July, a partner at WilmerHale informed Georgieva that the review into irregularities in Doing Business data and staff misconduct was authorized by World Bank Staff Rule 3.00, as Georgieva, as World Bank CEO in 2017, was considered a member of staff rather than a board official. The email sent to Georgieva requested her to speak with investigators as they believed she may have information that could assist in their review, clarifying that she was not a subject of their investigation. The World Bank's General Counsel's office stated that the investigation into the Doing Business 2018 and 2020 reports was carried out in accordance with World Bank regulations. | 4 |
The presidents of France and Brazil emphasized the need for wealthy nations to increase aid for developing countries in order to combat global warming and reach a climate agreement in Copenhagen. Brazilian President Luiz Inacio Lula da Silva, speaking at a climate summit in Manaus, noted progress with commitments from China and the United States to reduce greenhouse gas emissions, but stressed that more assistance is required for poorer nations to address climate change and achieve their goals. Lula also mentioned Brazil's investment fund for Amazon rainforest conservation, emphasizing that donor countries will not have control over it. Norway has been the largest donor so far. Progress in addressing how wealthy nations can assist poorer nations in combating climate change has been minimal. French President Nicolas Sarkozy emphasized the need for concrete figures and financial support from developed countries to developing countries during the Copenhagen conference. This support should be provided immediately. Sarkozy expressed support for Washington's announced goal of reducing emissions by 17 percent by 2020. The European Union estimates the cost of aiding developing nations in fighting global warming to be around $100 billion annually. However, developing countries argue that wealthy nations should contribute between 0.5 and 1 percent of their GDP. Brazil, committed to cutting greenhouse gas emissions by 36.1 to 38.9 percent, has been pushing for a stronger role in climate negotiations and sought to unite Amazon countries ahead of the Copenhagen summit. Only one other South American leader, Bharrat Jagdeo of Guyana, participated in the Manaus summit. | 4 |
European Union leaders have reached an agreement on a proposal to present at the global climate talks in Copenhagen in December, resolving a disagreement on how to divide the costs. Developing nations will require 100 billion euros ($148 billion) annually by 2020 to combat climate change, leaders announced at an EU summit in Brussels. A portion of this funding, estimated at 22-50 billion euros, will come from the public funds of wealthy nations, including the EU. It is expected that the EU's contribution will be around 20-30 percent, a development hailed as a significant step towards reaching a Copenhagen agreement by British Prime Minister Gordon Brown. East European nations stated that the summit resolved a disagreement on how to divide the EU's share of the bill without negatively impacting their economies as they strive to recover from crisis. The Polish minister for Europe, Mikolaj Dowgielewicz, described this as a victory for Poland, emphasizing the country's desire for rapid development and avoidance of being viewed as a stagnant representation of eastern European culture. Although leaders did not reach a specific agreement on how to split the bill, they assigned this task to a new working group. "I would have preferred for the burden-sharing mechanism to be ready now, but it was too difficult," stated Polish Prime Minister Donald Tusk. The two-day summit successfully obtained a complex negotiating mandate for the Copenhagen talks, which aim to find a replacement for the Kyoto Protocol, set to expire in 2012. The success of these talks will likely depend on financial support. Developing countries insist they will not agree to combat climate change without adequate funding from wealthy nations, who are mostly responsible for environmental damage due to their use of oil and coal over the years. Developing countries may use these funds to improve their agriculture or access new water sources in drought-prone areas. However, the plans for providing "fast start" financing for developing nations in the three years leading up to a new climate deal were put on hold by European leaders. Oxfam criticized Europe's proposal, stating that it was inadequate and lacked guarantees that the funds would not be taken from existing aid commitments. Oxfam's Elise Ford warned that if rich countries diverted money from aid budgets to pay for climate debts, it could reverse progress in fighting poverty. The opposition from east European countries lessened after Sweden, the chair of the talks, addressed the issue of "hot air" - the surplus carbon permits held by eastern European states, Russia, and Ukraine. These permits, totaling 17 billion euros, were leftover from the collapse of their economies after the end of communist rule. The additional permits, referred to as AAUs, can be traded to major polluters like Japan for approximately 10 euros per ton. Eastern European nations are in favor of continuing to sell AAUs in the new agreement that replaces Kyoto. However, some countries, including Germany, argue that they undermine the agreement's integrity and should be eliminated because they reduce the urgency to reduce greenhouse gas emissions. Sweden secured support from eastern Europe for the overall agreement by agreeing to delay any significant action on AAUs, according to an EU official. The agreement also includes measures to reduce domestic emissions, with a commitment to increase cuts to 30 percent below 1990 levels by 2020 if other countries take similar actions. | 4 |
Hainan, often referred to as "China's Hawaii," has the potential to become a top tourist destination in Asia due to its tropical climate and beautiful beaches. However, the island has struggled to reach that potential due to an economic downturn. Recently, construction on the tallest building in Hainan, the Haikou Master hotel and serviced apartments, has been completed after being left unfinished for years. This development symbolizes the island's efforts to recover from a property bubble in the early 1990s. Real estate agent Hong Weibin reported that sales in the complex are doing well. Nearly all of the 16 million square meters of construction left incomplete after the economic crash has either been finished or demolished, and investors are now returning to Hainan. The previous development model has been replaced with a strong focus on transforming the tropical island in southwest China into a tourist destination that can compete with Thailand's beach resorts. Numerous top resorts are opening, and plans are in place to expand visa exemptions, open duty-free shops, improve infrastructure, build airports, increase air connections, and promote foreign language education. Vice governor Chen Cheng recently announced a strategic plan for development, stating that tourism is the industry in Hainan with the most unique features, potential, and competitiveness. Ian Zheng, Managing Director of the Pacific Alliance Asia Opportunity Fund, expressed his enthusiasm for the investment in Hainan's main airports and a Beijing property firm operating in the region, stating that he sees no significant risks. The potential of attracting international beachgoers to the island's coast is uncertain, but the growing number of domestic tourists is expected to support the industry. Resorts are banking on the large Chinese market, as millions of people have benefited from the country's economic growth and are adopting Western lifestyles. The general manager of Banyan Tree Sanya, Peter Pedersen, mentioned estimates suggesting there could be 450 million middle class Chinese in 10 years. "I believe Sanya has great potential." The past month alone witnessed the opening of resorts by the Ritz-Carlton and Banyan Tree in Sanya, where the island's top beach resort is located. The Mandarin Oriental is set to open later this year, signaling a significant transformation for Hainan. Previously known in China primarily for inexpensive package tours, Hainan is now emerging as a notable tropical destination, with Sanya being one of the newest in Asia and the only tropical island in China, according to Pedersen's statement to Reuters. "There is a growing demand for both the local and international tourist markets. It is considered an ideal location," he stated while standing on the top of one of the resort's private pool villas, which are priced at around 5,000 yuan per night. Hainan, once a test-tube for development after becoming the country's youngest and economically freest province in 1988, saw a surge in economic activity that led to officials attempting to sell the city's main park to developers. While other coastal provinces prospered, Hainan struggled. Now, Hainan appears to be gaining stability, although analysts and investors caution that imbalances and conflicts could hinder the island's progress. In Haikou, the capital city, around 60 percent of new apartments are being purchased as second homes by non-locals, a situation that Mayor Xu Tangxian has acknowledged. Xu mentioned in an interview that there are some areas where all homes have been sold, but remain unoccupied at night. Although the majority of tourists in Hainan are Chinese nationals, with 18 million visitors last year compared to just 750,000 international tourists, the government is making efforts to attract wealthy foreigners in order to enhance the island's reputation and economy. The government aims to bring in 20 renowned international hotel management groups within five years, and increase the number of five-star, internationally recognized resorts to 60 or more, as stated by Zhang Qi, the head of the provincial tourism bureau. Despite developers being excited about the tourism growth, reports of unethical behavior are starting to surface. In the rural township of Longqiao, located approximately a 40-minute drive from Haikou, the red earth is being plowed in large sections across the low hills, resembling fairways for golf. Residents claim that government officials persuaded them to sell their land for the construction of a golf course. In early April, anger erupted among the locals when rumors spread that the government had sold the land to the golf course developer for ten times the amount the residents were compensated. This led to a violent outburst, with an enraged group overturning a police car. Subsequently, when a crowd assembled at a nearby schoolyard, witnesses reported that police resorted to firing tear gas. In the town of Sanya in the south, some believe that bottlenecks and corruption are becoming a problem. A Western investor mentioned difficulties in starting a project because of excessive corruption. The permit process has been delayed for months. However, despite these challenges, optimism about Hainan's tourism potential remains strong. The belief is that the issues seen in Sanya are just the beginning. The island of Hainan remains quite large, with beaches stretching nearly all the way to the capital, Haikou. Banyan Tree Sanya's Pedersen stated that the island is 350 km in diameter and that there are endless possibilities here. | 4 |
The author of a well-known report on global warming stated that India is at risk of experiencing more severe consequences of climate change compared to other countries. These consequences include poor agricultural output, an increase in natural disasters, and a rise in deaths due to a higher occurrence of diseases. According to former World Bank chief economist Nicholas Stern, if greenhouse gas emissions are not controlled, global temperatures could increase by 2-3 degrees centigrade in the next 50 years. Stern warned Indian businessmen that the annual June-September monsoon rains, which are crucial for crop production in India, could have a significant impact on the economy. He also highlighted potential changes in the monsoon patterns, such as varying starting dates, increased intensity, and extended periods without rain. He stated that there is a high probability of disruption. It is evident that India will experience similar consequences as the rest of the world, and maybe even more severe. Experts predict that a temperature increase of 2 to 3.5 degrees Celsius could result in India losing between nine and 25 percent of its total agricultural revenue. Agriculture accounts for approximately 22 percent of India's gross domestic product. Additionally, rising temperatures could lead to the spread of vector-borne diseases such as malaria and dengue fever to higher altitude areas that are typically mosquito-free. The head of Britain's Economic Service warned that the melting of Himalayan glaciers could lead to increased deaths, lower productivity, serious floods in Bangladesh, mass migration into India, reduced water flow during India's dry season, and other serious consequences. Experts believe that melting glaciers will impact a significant portion of the world's population, particularly in the Indian subcontinent, where the Ganga river supports over 500 million people by receiving 70 percent of its summer water flow from the Himalayan glaciers. Stern mentioned that India was improving in addressing emissions challenges and investing in clean development mechanisms. He emphasized that climate change is unfair, with wealthy nations needing to take on more responsibility. He explained that rich countries are accountable for 75 percent of greenhouse gases, yet it is the poor countries that will suffer the most. Stern stressed that all countries should participate, but fairness dictates that wealthy nations bear the majority of the financial burden. | 4 |
The British NGO Oxfam emphasized the need for urgent action at the UN climate talks starting in Cancún, México on Monday. Oxfam highlighted the increase in weather-related disasters, record temperatures, flooding, and rising sea levels in 2010 as evidence for negotiators to come to a resolution. According to Oxfam's report, around 21,000 people died due to weather-related disasters in the first nine months of 2010, which is more than double the previous year. The report's author Tim Gore stressed the importance of making progress in Cancun due to the worsening impacts of climate change. The statement also mentioned that Oxfam is advocating for a fair Climate Fund to ensure that the most vulnerable parties receive financial assistance. The organization is emphasizing the importance of women in helping communities adapt to climate change and is urging for their prioritization in fund distribution. Oxfam is recommending that countries explore new ways to raise funds, such as taxing unregulated international aviation and shipping emissions and implementing a tax on financial transactions at banks. The organization also highlighted the benefits of swift action in reducing the costs of addressing climate change, citing estimates that every dollar spent on adaptation could prevent $60 worth of destruction. Gore noted that while Cancun may not address all aspects of a global response to climate change, it is a step in the right direction. It has the ability to produce results that will positively impact individuals living in poverty. One significant accomplishment would be the establishment of an equitable climate fund, as this could also aid in restoring confidence and getting the negotiations back on course. | 4 |
In an interview with bdnews24.com from Glasgow during the final hours of negotiations at the COP26 summit, the Bangladeshi scientist expressed frustration that the other parties are unwilling to compromise and are trying to obstruct progress. Despite this, he remains determined to continue pushing for their commitment until the end. Huq, who is the director of the International Centre for Climate Change and Development in Dhaka, has been present at all 26 COP meetings since the inaugural one in Berlin in 1995. He highlighted that the emissions reductions pledged by the major polluters would result in a concerning 2.7-degree Celsius increase in global temperatures, significantly surpassing the more ambitious 1.5C target set by the Paris Agreement and supported by scientists. Wealthy nations, which had pledged to provide $100 billion annually starting in 2020 to assist poorer countries in growing sustainably and adapting to climate change, have now pushed back meeting that target until 2023. At the Glasgow talks, a new draft agreement was released calling for a doubling of funds to help developing countries address climate impacts and urging nations to enhance their emissions reduction targets by the following year. However, much of the draft text, aimed at guiding negotiators toward a universally accepted agreement, remained contentious on various issues such as financial assistance, the pace of emission reductions, and the mention of "fossil fuels" in the agreement - a term never before included in a global climate pact. These disagreements, after nearly two weeks of discussions, suggest that reaching a comprehensive agreement will be challenging, despite the calls from activists and scientists for such an outcome prior to the start of the UN talks. According to scientific consensus, it is necessary for the world to reduce greenhouse gas emissions by almost half by 2030 to avoid the worst effects of global warming. However, current country targets would result in an increase in emissions. Professor Huq expressed determination to continue working towards an agreement on these issues, stating that the fight is not over and they will not give up. The United States and China announced a deal on Wednesday to increase collaboration in addressing climate change, which includes reducing methane emissions, decreasing coal consumption, and preserving forests. A joint declaration on climate change between China and the US marks a return to a time when the two largest carbon emitters collaborated to create the 2015 Paris Agreement. However, without further action to reduce fossil fuel usage and encourage other countries to do the same at the COP26 talks in Glasgow, the climate crisis will continue to worsen. While Professor Huq expressed approval of the agreement, he noted that there are still unresolved questions regarding the commitments of China and the US, both major polluters. The announcement lacks specifics and it is uncertain what has actually occurred. Delegates and negotiators from Bangladesh, a country highly susceptible to climate impacts, expressed their perspectives at both private and public discussions. The key focus is on negotiation and determining what can be gained from various governments. It is a challenging process, as wealthy nations are reluctant to provide concessions easily. It is likened to a war. | 4 |
Australia's heavy reliance on coal-fired power has made it one of the top per capita carbon emitters globally. Despite this, the conservative government has supported the new deputy PM's stance on fossil fuel industries, citing potential job losses as a reason to resist stricter emissions regulations. The deputy PM acknowledged the importance of coal and other fossil fuels to the economy, even though mining only accounts for about 2 percent of total jobs. The UN has called for coal to be phased out by 2030 in OECD countries, including Australia, but a deal to phase out coal by 2025 was not reached by G20 energy and environment ministers in July. Some experts believe that there is potential for advancement at the UN climate talks in Glasgow in November, despite Prime Minister Scott Morrison's reluctance to commit to a timeline for achieving net-zero carbon emissions in Australia. Morrison has indicated that Australia will revise its 2030 emissions projections before the Glasgow talks, while many other developed countries have already committed to reaching net-zero emissions by 2050. Hart suggested that the Australian government should take advantage of this opportunity and transition to renewable energy sources. He stated that if coal is not quickly eliminated worldwide, the Australian economy will be severely impacted by climate change in various sectors such as agriculture, tourism, and services. | 4 |
The Constitutional Court voided the election last Friday, and the head of the Election Commission stated that it would take months before a new vote could be organized. This has left Yingluck in charge of a weakened caretaker government with limited authority. The ongoing crisis is the latest development in an eight-year conflict between Bangkok's middle class and royalist establishment on one side, and supporters of Yingluck and her brother Thaksin Shinawatra on the other. Thaksin, who was removed as prime minister by the military in 2006, currently resides in Dubai to avoid a prison sentence for abuse of power. Despite showing restraint for months, Thaksin's supporters, known as the "red shirts," are now adopting a more aggressive stance under new hardline leaders. A call has been made for a major gathering on April 5. Jatuporn Prompan, chairman of the "red-shirts" United Front for Democracy Against Dictatorship, informed supporters that the destination, whether it be Bangkok or elsewhere, will be revealed at a later time. Jatuporn was involved in organizing a "red-shirts" uprising against a previous government which resulted in a violent military crackdown in May 2010, resulting in over 90 deaths. Jatuporn is still dealing with terrorism charges from the events of 2010. In the current political crisis, 23 individuals have died and over 700 have been injured since November. Speaking to approximately 10,000 individuals in Pattaya, located to the southeast of Bangkok, Nisit Sintuprai, another leader, issued a warning to Suthep Thaugsuban, the former opposition politician who has been leading protests against Yingluck since November. Sintuprai emphasized that the majority of the country's population desires democracy and government through elections, not a prime minister selected by a specific group. The People's Democratic Reform Committee (PDRC), led by Suthep, is advocating for electoral changes to reduce Thaksin's influence and his strong support among the rural poor in the northern and northeastern regions. Political parties associated with Thaksin have consistently won elections since 2001, and it is widely anticipated that Yingluck's Puea Thai Party would emerge victorious in any election conducted under the current system. IMPEACHMENT POSSIBLE FOR PM YINGLUCK AS SUPPORTERS DISRUPT ELECTION The Constitutional Court ruled the February 2 election illegal due to disruptions in 28 constituencies. The Election Commission will meet Monday to determine next steps, considering political tensions. Yingluck's government faces uncertainty, with potential impeachment over a failed rice-buying scheme. This plan boosted Yingluck's popularity in the 2011 election, but many farmers, who typically support Thaksin, protested in Bangkok this year due to unpaid rice subsidies. Yingluck faces a corruption investigation and potential impeachment, with the Senate likely to have an anti-Thaksin majority after elections on March 30. Some believe the Senate will appoint a new prime minister favored by anti-government protesters. Analysts suggest that independent agencies may be working to remove Yingluck and her cabinet to prevent elections and choose their own prime minister. He warned that if the government proceeds with their plan, their supporters will retaliate, leading to a worse second half of the year compared to the first half. Despite the government lifting the state of emergency due to less protesters and calm streets, violence erupted with grenades exploding near the home of a judge and a car bomb near a protest camp and government complex. Additional explosive incidents occurred in Chiang Mai province, resulting in serious injuries. One of the targets was Boon Rawd Brewery, known for producing Singha beer. A family member who is part of the ownership has been actively involved in PDRC rallies. Due to consumer confidence being at a 12-year low, the central bank recently lowered its economic growth forecast for 2014 from 3 percent to 2.7 percent. Prior to the protests last October, the forecast was at 4.8 percent. The stock market showed minimal movement following a court decision on Friday. Some stock analysts view the cancellation of the election as a positive development, anticipating that it will encourage negotiations between political rivals. Standard and Poor's, a rating agency, expressed a different opinion. Agost Benard, the associate director of sovereign ratings, stated that the Thai court's decision is likely to prolong and possibly escalate political risks, further delaying any potential resolution to the country's political divide. | 4 |
Gazing sadly at the unused machinery worth millions of dollars at his Milli Boot Factory in Kabul, Farhad Saffi is worried that he is witnessing the end of a dream for Afghanistan. The factory was a symbol of local manufacturing and provided jobs to hundreds of people, potentially steering them away from joining insurgent groups. However, a decision by the US government to let the Afghan government handle procurement led to local officials choosing cheaper boots from China and Pakistan, causing Saffi to lose his contracts. Saffi had been promised contracts until 2014 but was given only three months notice of cancellation by the Afghan government, leaving him with $30 million worth of raw material that he cannot use. When the factory opened, Afghan and US generals were eager to have their photos taken with a local success story. US Navy Rear Admiral Kathleen Dussault visited in 2010 to award Saffi, who was only 23 at the time, with a quality certificate for his plant, which was now equipped with high-tech German injection molding and boot-making equipment. The plant was tasked with supplying the Afghan National Security Forces with top-quality boots under contracts worth up to $40 million annually. Saffi's leather boots, which underwent stringent quality testing in the United States, were priced at $62 per pair, compared to Chinese-made boots with imitation leather that cost the Afghan government $22 per pair under a contract for up to 700,000 pairs per year. Despite being asked to sell his boots for $15 per pair by the Afghan government, Saffi explained that the cost of the leather alone was $40. Chinese boots made of fake leather are inexpensive but tend to fall apart quickly. Between 2002 and the end of 2011, $85.5 billion was spent on reconstruction in Afghanistan, with an additional $57 billion in international aid. NATO-led forces, responsible for purchasing supplies for Afghan security forces during the war, began prioritizing local businesses in 2010. This initiative, known as "Afghan First," aimed to boost the economy, create jobs, and support anti-insurgent efforts. Contracts with Afghan companies covered a range of goods, including uniforms, boots, textiles, furniture, tents, software, and transformers, resulting in the creation of 15,000 jobs and saving $650 million on imports for combat-related expenses. However, this amount was still only a small portion of the estimated $200 million spent on the war each day. The Afghan First Policy supports efforts against insurgency by ensuring that local workers have better job opportunities and income, making them less likely to join the estimated 25,000 Afghan Taliban fighters in the country, known as the '$10-a-day Talib'. Some of the 700 workers who were laid off from Saffi's factory are considering joining the Taliban as they see no other options for employment with the impending withdrawal of most NATO combat troops in 2014. They believe reopening the factory is crucial to avoiding this choice. "We have families to support," Ares Khan, 23, expressed as he packed some of the final boots that Milli will produce unless the government has a change of heart. The workers at the factory were earning between $400 and $900 a month, which is significantly higher than the average wage in a country where a third of the 30 million population live below the poverty line. However, many businessmen and workers are concerned that security will decrease once the Westerners leave, taking job opportunities and investment dollars with them to safer locations, as Afghanistan's wealthy have been doing for years. Khan's friend, Khair Mohammad, who moved to Kabul from Ghazni province where NATO forces are currently involved in one of the last major offensives of the war, also believes there is no future outside of the insurgency if the Afghan government stops providing jobs. "There are sixteen people in my family and I am the only one bringing in income." Mohammad mentioned that when he returns to Ghazni, he will need to join the Taliban due to the high living costs in Afghanistan. The decision to give a significant portion of procurement to Afghan authorities was made in March as part of the transition to Afghan security and control, according to US military officials like US Navy Lieutenant Aaron Kakiel, a logistics officer for the NATO-led coalition in the country. Kakiel mentioned that Afghan companies have provided a wide range of supplies and services to the country's security forces, including uniforms, boots, sleeping bags, construction, and IT services. The security forces are expected to reach a total of 352,000 personnel. Milli is not the only company facing challenges due to the shift towards local procurement, as other suppliers of uniforms and equipment are also concerned about losing contracts to competitors from other countries. Another company executive, who preferred to remain anonymous, expressed worries about the uncertainty surrounding their supply contracts after investing significant amounts of money into their business. The executive mentioned that some contracts have already expired, and it is unclear if the government will continue contracting with them or choose to work with companies from other countries. Lieutenant-General Abdul Basir Asafzari, who is in charge of logistics and procurement at the Ministry of Defence, stated that his company had imported materials from the US for products manufactured in Kabul. This would be a problem if they did not receive contracts, as they would have to lay off employees. He mentioned that only 30 percent of the current supply is from Afghan companies, and President Hamid Karzai had directed the military to prioritize local firms. Asafzari explained that Milli had contracts cancelled because they were importing low-quality boots from China and other countries and rebranding them, failing to meet their obligations. Asafzari mentioned that soldiers had complaints about the quality of the boots, but Mohammad Akbar Ahmadzai, from the NGO Building Markets, confirmed that Milli's boots passed US quality tests. Other experts suggested that Milli and others may have faced challenges due to bribery and favoritism in Afghanistan's business environment. Kakiel from NATO pointed out that there may have been misunderstandings regarding contract provisions that only guaranteed one year of sales. In 2011, US agencies contracted over $4 billion to Afghan companies out of a total of $17.3 billion. More than 90 percent of the spending was allocated to products purchased from Afghan sellers (49 percent), construction (28 percent), support services (11 percent), and transportation (6 percent). However, an audit conducted by the US government's Special Inspector General for Afghanistan Reconstruction (SIGAR) in January revealed that the Afghan First Initiative (AFI) had been marred by insufficient contract solicitation and vetting, as well as limited data on claimed employment benefits. Saffi, who witnessed his family fleeing during Taliban rule and returning in 2002 to find everything destroyed, expressed his lack of confidence in both the US government and the promises of the future under Karzai. He stated, "We tried to do a good job here in this factory, but right now this has happened. The only judgment we can make is that my company and the country are going the same way." He stated that many people in Kabul's business community were feeling anxious due to the unpredictable investment environment and worsening security situation. This feeling was further heightened by a bold Taliban attack on the city center and surrounding areas in mid-April. Saffi mentioned that he now had to hire 30 personal bodyguards to ensure his children's safety when attending school, as well as having police snipers stationed on his home's roof. He likened the struggles his company was facing to the challenges the country was experiencing, stating that he felt like the president of his company while Karzai was the president of the country. He expressed concern about the declining state of his company and the increasing number of workers leaving. The country will experience the same situation. The president needs to govern his nation. | 4 |
The United States is being urged to join other wealthy nations in setting a 2020 goal for reducing greenhouse gases in order to improve the chances of reaching a climate agreement in Copenhagen next month. The pressure on the US was increased by the Danish hosts during a final preparatory meeting in Barcelona, who emphasized the importance of not arriving at the conference without a plan. Some African nations threatened to leave the Barcelona talks unless rich countries committed to more significant emissions reductions. The head of the UN Climate Change Secretariat stressed the necessity of a specific target from the US for the Copenhagen conference. President Barack Obama, while addressing reporters at the White House, emphasized the significance of a specific part of the puzzle. He expressed hope for a significant agreement in Copenhagen, but also acknowledged that it may not fully resolve all issues related to the matter. Obama noted that while it may not solve every problem, it would be a crucial step forward and provide the foundation for future progress. The United States has not yet committed to a specific target for reducing emissions by 2020, unlike the European Union and other developed nations who have set goals such as a 20 percent reduction below 1990 levels by 2020. Democrats in the US Senate are moving forward with legislation to reduce US carbon dioxide emissions by 20 percent from 2005 levels, despite a planned boycott by minority Republicans. Although the Senate Environment and Public Works Committee may approve the bill in the coming weeks, it is uncertain whether it will be passed by the full Senate this year. Delegates at the Barcelona talks are facing challenges in reaching agreements on how to distribute emissions reductions between wealthy and developing nations, as well as how to raise funds to assist developing countries in addressing climate change. The issue of forests is also contributing to the complexity of the negotiations. Moscow's Prime Minister Vladimir Putin stated that Russia will emphasize the importance of considering the carbon-absorbing capacity of its forests. Australian emissions decreased last year, excluding the impact of forest fires. Denmark and the EU urged Obama to take more action to facilitate a successful outcome at the upcoming December conference. Danish Climate and Energy Minister Connie Hedegaard expressed doubt that Obama could receive the Nobel Peace Prize in Oslo and send a delegation to Copenhagen without tangible results. Swedish Environment Minister Andreas Carlgren, who is currently holding the rotating presidency of the European Union, noted that there has been a significant and real change in the American position, although more is still expected. The United States has stated its commitment to a UN deal, with head of the US delegation in Barcelona, Jonathan Pershing, emphasizing that efforts have been made under President Obama to promote clean energy and reduce emissions. Pershing stressed the importance of the United States being a part of the Copenhagen deal, especially as the country is the second largest emitter of greenhouse gases after China. Antonio Hill of Oxfam reported that African countries are demanding stricter emissions reductions from developed nations. He mentioned that Gambia, Ethiopia, and Algeria are in favor of withdrawing from the UN talks. Protesters outside the conference center displayed hundreds of ringing alarm clocks to emphasize the urgency of reaching an agreement to combat the increasing threats of climate change. | 4 |
US prosecutors are seeking the extradition of Chief Financial Officer Meng Wanzhou to face allegations of deceiving multinational banks about Huawei's involvement in a company in Iran, potentially causing the banks to violate US sanctions. Meng, the daughter of Huawei's founder, was arrested in Vancouver on Dec 1. She maintains her innocence and plans to challenge the accusations in court if she is extradited to the US. The judge in a bail hearing postponed the decision until the next day to further discuss who will be responsible for Meng if she is released. Meng's lawyer proposed a C$15 million bail guarantee and offered her husband as surety to ensure she does not flee. However, the judge and prosecutor raised concerns about Meng's husband's ability to fulfill this responsibility since he is not a resident of British Columbia, where Vancouver is located, and would not face consequences if she violated her bail conditions. The arrest of Meng has caused turmoil in the markets amid fears that it could worsen tensions between the United States and China, particularly in light of the ongoing tariff disputes. Trade negotiations between the two countries must be completed by March 1, but Beijing has demanded Meng's immediate release and warned of potential repercussions for Canada. Despite this, Chinese and US officials seem to be avoiding directly connecting her arrest to the trade conflict. Meng's attorney proposed offering C$14 million in property equity and C$1 million in cash as security. The prosecutor insisted on half of the guarantee being in cash and half in property. During the proceedings, the judge questioned Meng's avoidance of travel to the United States since 2017, suggesting it was to evade arrest. Martin argued that the negative attitude toward Huawei in the US was the reason for her reluctance to travel there. He urged the court to consider what reason Meng would have to flee. Martin stated that the evidence against her was not very strong. He mentioned that if Meng were to escape or violate any orders, it would not be an exaggeration to say that she would bring shame to China. Meng seemed calm and confident in court in the morning, but later in the day she appeared more tense as she discussed with her legal team. She is requesting to be released due to her severe hypertension and concerns about her health. Huawei is the top provider of telecommunications network equipment globally and the second largest producer of smartphones, generating approximately $92 billion in revenue last year. In contrast to other major Chinese tech companies, Huawei conducts a significant portion of its business outside of China. US authorities claim that Huawei attempted to utilize banks to transfer funds out of Iran, which is prohibited under US sanctions laws. Huawei and its legal team have maintained that the company adheres strictly to all relevant laws, regulations, and sanctions imposed by the United States and other jurisdictions. The company stated on Monday that they will keep monitoring the bail hearing tomorrow and have full trust in both the Canadian and US legal systems to come to a fair decision. | 4 |
Sánchez resides in Rincón, a coastal town in northwestern Puerto Rico known for surfing and sunsets. The town has become popular among wealthy investors seeking tax breaks, many of whom have shown interest in purchasing his home near the beach. Despite his home not being for sale, Sánchez has received unsolicited offers from investors who simply hand him a check and ask him to name his price. This trend reflects a larger pattern of investors flocking to picturesque towns in Puerto Rico to take advantage of tax incentives aimed at attracting new residents and investment to the financially struggling island as it emerges from bankruptcy. The popularity of tax breaks has increased following the coronavirus pandemic, leading to a rise in Americans moving to warmer climates. However, the influx of wealthy newcomers to Puerto Rico, who must establish residency and purchase property within two years to maintain the tax breaks, has caused a surge in home prices and forced out residents who can no longer afford to live there. Hurricane Maria in 2017 had already caused many residents to leave the island, and now the real estate boom, initially centered in San Juan, has spread to other areas like Rincón as investors look beyond the metropolitan area. In addition to those seeking tax benefits, other newcomers are also buying properties and driving up rental costs and home prices. However, the finance and tech investors who have officially applied for tax-break status are the ones attracting the most attention. Among them are cryptocurrency traders, who now gather for weekly happy hours at a seaside bar in Rincón. A new barbecue food truck that started operating in August is now accepting Bitcoin, Ethereum, Cardano, Shiba Inu, Solana, and Litecoin as payment for its mainland-style chicken. The gradual gentrification of the area is causing concern among many Puerto Ricans, who are increasingly questioning how an economy that relies on tax breaks for the wealthy can benefit local residents struggling to afford property. "It feels like Hurricane Maria put a 'For Sale' sign on the island," said Gloria Cuevas Viera, a Rincón resident who is actively fighting against gentrification. A large number of investors purchase residential properties, selling them at higher prices or converting them into short-term vacation rentals, ultimately transforming entire neighborhoods into Airbnb hubs and causing a scarcity of housing for local residents. Forty-three percent of Puerto Ricans live below the federal poverty line. Israel Matos, aged 45, is being forced to move out of his Rincón home by March as the property owner sold it last year. Matos had the opportunity to purchase the house, but his option expired. The owner, who is from Hermosa Beach, California, opted to sell to another buyer. Matos has been residing in his current home with his wife and two daughters for the past two years. He mentioned that he is unable to find any suitable housing options within his budget in Rincón. Many residents of Puerto Rico are facing challenges in remaining in their homes due to rising property prices caused by outside investors. Matos, who works as a sound engineer for a television station, expressed the difficulties he faces as a father in finding affordable housing for his family. Many Puerto Ricans are finding it increasingly difficult to afford to stay in their homes due to outside investors buying up properties and raising prices. Demonstrators recently gathered in Old San Juan to protest tax breaks, particularly targeting Bitcoin billionaire Brock Pierce, who converted a former children's museum into a "crypto clubhouse." The tax breaks are part of Act 60, a law introduced by the Puerto Rico government in 2012 amid economic struggles, but gained more attention after Hurricane Maria in 2017. In 2019, tax incentives were redesigned to appeal to finance, tech, and other investors. Those who relocate to the island can enjoy reduced income taxes on various financial gains and services. A billboard in Silicon Valley promotes Puerto Rico as a tech center aligned with their goals. By October 2021, the island had received a record 1,349 applications from potential resident investors, with 982 approvals. Since 2012, over 4,286 applications have been approved, with over 35% in the last three years. According to the law, an individual can be eligible for tax benefits if they have not lived in Puerto Rico for at least 10 years. To qualify for a 4% corporate tax rate and no capital gains tax, the investor must also purchase a home. The over 3 million current residents of Puerto Rico are not eligible for these tax breaks, leading to unequal taxpayer responsibility. Heriberto Martínez Otero, the executive director of the Ways and Means Committee in the Puerto Rico House of Representatives, voiced concerns about this inequality. He also mentioned that renters who are priced out of coastal areas may have to move to cheaper neighboring towns, but will likely have to spend more on commuting expenses. Homeowners who have sold their properties have seen a positive impact from the increase in property prices. Governor Pedro R. Pierluisi has expressed support for the rising number of investors purchasing luxury homes, citing the previous downturn in the luxury real estate market as a driving force behind the tax law. The goal was to attract individuals with capital to stimulate the real estate market. Policymakers were also worried about the significant number of people leaving the island, as the population of Puerto Rico declined by 11.8% from 2010 to 2020 due to the economic crisis and Hurricane Maria. Martínez Otero expressed concern over the issue of people purchasing residential properties in Puerto Rico that do not align with local consumption patterns, adding to the island's affordable housing challenges. Many Puerto Ricans are finding it increasingly difficult to afford to stay in their homes due to outside investors buying properties and inflating prices. Sánchez, a homeowner in Rincón who also works as a landscaper, is involved in coordinating the town's federal Section 8 program, which offers affordable housing assistance to low-income families. Despite the program providing $450 monthly vouchers for housing, Sánchez is struggling to find homes within that price range. A gathering spot by the ocean in Rincón, Puerto Rico on January 13, 2022, has become a concern for many Puerto Ricans who feel they can no longer afford to live in their homes due to outside investors purchasing properties and increasing prices. The rising prices are not only affecting downtown areas but also rural sectors in the mountains, causing fears of displacement among native Puerto Ricans. In Rincón, real estate broker Ingrid Badillo Carrero noted a significant increase in home prices over the past four years, with the average listing price for a two-bedroom condo rising from $290,000 in 2017. Currently, the unit could be priced at approximately $420,000, with the average annual income in Rincón being around $19,900. Badillo, who often works with investor clients looking for tax breaks, has been told by locals that she is selling out their country. Many investors can pay in cash, which is more appealing to sellers compared to Puerto Ricans who may only be able to afford a mortgage. In May, Elizabeth Stevenson and her husband, Tyler McNatt, relocated to Puerto Rico from Austin, Texas. They were searching for an alternative to the daily office grind and turned to cryptocurrency investments to generate income. Stevenson, a beneficiary of Act 60, is working as a consultant for a California movie producer now located in Puerto Rico, in addition to buying and selling cryptocurrency. Stevenson expressed excitement about the opportunities to learn and earn money in the cryptocurrency world. She has leased an apartment near the beach and is actively involved in several crypto groups for former mainlanders that organize events in Rincón. Daniel Torgerson, a crypto investor who relocated to Puerto Rico in June, organizes a weekly happy hour at the Aqua Marina Beach Club in Rincón. In early January, approximately 20 individuals gathered near the bar and pool, conversing under string lights while competing with the sounds of nocturnal coquí frogs. Torgerson inquired about everyone's feelings in the market that week and asked if there were any new projects they were enthusiastic about. One person mentioned "Solar bitcoin mining." The new residents are accompanied by their children. Myriam Pérez Cruz, the principal of Manuel González Melo K-8 School in Rincón, mentioned that the school has had to incorporate additional coursework for students who are learning Spanish as their second language. In the school year 2016-17, a student survey found three native English speakers who required help with Spanish, according to Pérez. By the school year 2021-22, that number had increased to 17 students. Matos, a resident of Rincón who needs to vacate his home by March, recently searched for potential rental properties by driving around. Following this, he visited the beach, sat on the sand with his legs crossed, and attempted to unwind. However, shortly after parking his car, he began to feel anxious. Matos observed that among the approximately 50 people on the beach, he only spotted about five Puerto Ricans. He remarked that there have been significant changes in Rincón. | 4 |
Finance adviser AB Mirza Azizul Islam emphasized that the achievement of millennium development goals is at risk if donor countries do not fulfill their ODA commitments. Official development assistance is crucial for many countries to realize these goals. | 4 |
Global institutional investors with over $6 trillion in assets are urging policymakers to quickly reach a binding agreement to reduce greenhouse gas emissions and support clean technology. Over 130 major investors, including the London Pensions Fund Authority, are calling for countries to commit to cutting emissions by 50-80% by 2050, aligning with the goals of US President-elect Barack Obama. These investors are also advocating for long and medium term emission reduction targets for developed countries and a more robust global carbon market. US investors, like the California Public Employees' Retirement System, have been advocating for legislation to advance clean technologies. They have also requested the US Securities and Exchange Commission to mandate that publicly traded companies disclose climate-related risks, in addition to other factors impacting their business. Mike Taylor, CEO of London Pensions Fund Authority, expressed concerns about climate change risks to the global economy and portfolios of institutional investors. He emphasized the need for strong policies to facilitate investment in low carbon initiatives. The group of global investors is advocating for a new binding agreement to replace the Kyoto Protocol, which established targets for reducing greenhouse gas emissions in industrialized countries. The European Union aims to reduce greenhouse gas emissions by 20 percent by 2020 and increase the use of renewable energy sources in their energy mix by the same date. The United States is the only major industrialized nation that has not accepted the Kyoto Protocol, but is currently engaged in talks to create a new global agreement. Mindy Lubber, president of Ceres, a coalition of investors and environmental groups focused on climate change, believes it is important for the US to be part of this agreement. The group of global investors is aiming to have their input considered before the upcoming climate change convention in Poland in December. | 4 |
In an election focused on wage growth and cost-of-living pressures, opposition leader Anthony Albanese failed to answer questions about unemployment numbers and interest rates as the campaign for the May 21 election began. Prime Minister Morrison criticized the Labour Party's ability to manage money and lack of economic plan while promoting economic opportunities post-pandemic. Polls showed the Labour Party ahead of Morrison's coalition, although Morrison remained the preferred leader. Albanese apologized for his mistakes and was in damage control mode. He quoted Taylor Swift by saying he will "Shake it off" in response to reporters asking about the potential impact of a slip on Labor's chances of winning the election. Albanese emphasized taking responsibility for his actions and owning up to any mistakes he may make. Morrison highlighted his government's successes in lowering the unemployment rate despite facing various challenges such as fires, floods, a pandemic, a global recession, economic coercion from China, and a war in Europe. Initially, Albanese believed the current unemployment rate was around 5.4%. Morrison referred to the runs on the board in cricket as a metaphor for having a solid foundation. The government has plans to boost job creation to pre-pandemic levels, aiming for a stronger economy. Treasurer Josh Frydenberg mentioned that the new jobs would be spread across various sectors. Australia's unemployment rate is expected to drop below 3% sooner than predicted by the central bank, with some economists even forecasting it to go below the budget estimate of 3.75%. Wage growth is expected to increase, but not enough to keep up with inflation, leading to a decrease in real incomes this year. To appease upset voters, the budget in March raised a tax break for 10 million low- and middle-income earners and provided one-time cash payments for pensioners, as well as a temporary reduction in fuel taxes. | 4 |
A draft communique from the G8 countries in Toyako, Japan indicates their desire to collaborate with the nearly 200 states engaged in UN climate change discussions to establish a goal of reducing greenhouse gas emissions by at least 50% by 2050. The document, obtained by Reuters prior to its official approval by G8 leaders at a summit in northern Japan, also mentions the necessity of mid-term goals to reach the 2050 target. This declaration shifts the focus of combating global warming to UN-led talks aimed at creating a new framework after the Kyoto Protocol expires in 2012, while also addressing internal disagreements within the G8. The UN negotiations are scheduled to conclude in Copenhagen in December 2009. Despite the careful wording of the climate statement, which is typically the most contentious aspect of summit discussions, it is unlikely to satisfy those advocating for more specific targets. Last year, the G8 group of wealthy countries, including Japan, Britain, Canada, Germany, France, Italy, Russia, and the United States, agreed to only "seriously consider" the goal of cutting global emissions in half by 2050. The European Union and Japan have been pushing for this year's summit to go further and wanted clear interim targets. However, US President George W Bush has stated that the US cannot commit to binding targets unless major polluters like China and India also reduce their emissions. The European Union's leadership welcomed the agreement on climate change, calling it a "new, shared vision" and keeping negotiations on track for a global agreement in 2009. European Commission President Jose Manuel Barroso said the deal sends a strong message to people worldwide and that the EU's goals for the G8 summit in northern Japan had been met. Global warming is connected to other important issues such as rising food and fuel prices, which are being discussed at a three-day meeting in a luxurious mountain-top hotel on the northern Japanese island of Hokkaido. The leaders at the summit expressed concerns about the world economy facing uncertainties and risks, including the impact of high oil prices. Additionally, they hinted at the need for China to allow their tightly controlled exchange rate to appreciate in order to help address global financial imbalances. The G8 leaders also agreed to convene a world energy forum to bring major oil producers and consumers together to discuss output and prices. The increasing prices of food and oil, reaching a record high of $145.85 a barrel last week, are having a significant impact on the world's impoverished populations. According to a recent World Bank study, up to 105 million more individuals may fall below the poverty line due to the spike in food prices, with 30 million of them being in Africa. World Bank President Robert Zoellick stated that how the global system responds to this crisis will determine its dedication to assisting those most in need. To alleviate the effects of this situation, G8 officials have announced plans to implement various measures to support Africa, particularly its farmers, and have committed to doubling aid to provide an additional $50 billion in aid by 2010, with half of the funds allocated to the world's poorest continent. The summit concludes on Wednesday with a Major Economies Meeting that includes the G8 and eight other large countries that emit significant amounts of greenhouse gases, such as India, China, and Australia. | 4 |
During the OPEC heads of state meeting, Saudi Arabia has pledged $300 million for environmental research to combat global warming. However, other leaders have not made similar promises and are unsure of what the proposal entails. Algerian Energy and Mines Minister Chakib Khelil stated that no other countries have committed funds for climate change research at this time. OPEC Secretary-General Abdullah al-Badri stated that OPEC is willing to contribute to the development of carbon capture and storage technology to help reduce emissions. A draft final communique from OPEC mentioned the group's concern about climate change as a long-term challenge and its goal for stability in global energy markets, but did not address the topic of an environmental fund. Venezuelan President Hugo Chavez expressed his expectation that the summit would confirm a commitment to stable and competitive oil prices. He warned that if the United States were to attack Iran or Venezuela, crude oil prices could potentially double from the current price of around $100 per barrel to $200 on the global market. Chavez made these statements to heads of state, including Iranian President Mahmoud Ahmadinejad, at a meeting in Riyadh, Saudi Arabia. Concerns that the United States or its ally Israel may launch an attack on Iran, accused by Washington of pursuing nuclear weapons, have contributed to the surge in world oil prices. Despite calls from consumer nations for more oil supply, OPEC ministers have postponed any decision on increasing output until a meeting in Abu Dhabi on December 5. Iran and Venezuela are viewed as holding firm on prices, while Saudi Arabia has typically been more willing to adjust to Western requests to lower prices. Ecuador's President Rafael Correa suggested pricing oil in a currency other than the dollar at the conference. The decrease in value of the U.S. currency compared to other major currencies has contributed to the rise in oil prices to $98.62 last week, while also diminishing the purchasing power of the Organization of the Petroleum Exporting Countries (OPEC). During a summit meeting, Saudi Arabia, a key U.S. ally and influential member of OPEC, led the group in rejecting a proposal by Iran and Venezuela to express concerns about the weakening dollar in the summit's official statement. Analysts suggest that Saudi King Abdullah, known as OPEC's "swing producer" and a reliable supplier of crude oil to the U.S., is determined to prevent leaders like Chavez and Ahmadinejad from overshadowing the summit with anti-U.S. rhetoric. Despite the opulent setting of the summit hall, where Chavez called for OPEC to take a leading role in fighting global poverty, Saudi King Abdullah appeared unimpressed and jokingly told Chavez that his speech was too long. Ahmadinejad stated that OPEC should take a more active role in geopolitics and demand respect for its member countries, while also calling on powerful nations to cease threatening the organization. He mentioned that he would share his thoughts on this matter at the end of the summit. In an attempt to ease tensions between the U.S. and Iran, Saudi Arabia proposed the creation of a consortium to supply Iran with enriched uranium for peaceful purposes. Despite this, Iran has stated that it will continue its own enrichment program. Concerned about Iran's nuclear potential, Gulf Arab countries, including key OPEC members Saudi Arabia, Kuwait, Qatar, and the UAE, have announced plans to develop their own nuclear energy programs. | 4 |
The finance minister, AMA Muhith, expressed frustration with donors who have not fulfilled their aid pledges, attributing this failure to the country's inability to overcome poverty and other challenges. Muhith made these comments during the launch of a report on Bangladesh's progress towards achieving the Millennium Development Goals at the Sonargaon hotel in Dhaka. He emphasized the importance of donor agencies fulfilling their commitments in order to reach the MDGs, which aim to eradicate extreme poverty by 2015. Despite some progress, Muhith acknowledged that there are still obstacles to achieving these goals. He stated that the issue of child malnutrition continues to be a significant concern. Muhith noted that while progress has been made in addressing sanitation challenges, the arsenic problem still needs attention. In terms of economic growth, he acknowledged that the country's rate is satisfactory but lags behind neighboring nations. During the event, Planning minister AK Khandker and foreign minister Dipu Moni, among others, also shared their perspectives. Khandker emphasized the need for greater international assistance to mitigate the impacts of climate change in Bangladesh. Moni stated that natural disasters caused by climate change are hindering the country's development. She highlighted advancements in poverty reduction, women's empowerment, primary education, and child mortality. Shamsul Alam, a member of the Planning Commission, presented the progress report. | 4 |
During his closing speech at the ninth consecutive Global Media Forum, DW Director General Peter Limbourg emphasized the importance of European values. He highlighted the need for countries in Germany and Europe to uphold and share these values, acknowledging that there are instances where they fall short. Limbourg specifically mentioned issues such as arms sales, environmental pollution, and cooperation with corrupt regimes as examples of where improvement is needed. The forum brought together over 2,000 participants from 110 countries in the former West German capital for a three-day event. The conference focused on discussing tough topics related to "Media. Freedom. Values." Journalists in various countries often encounter challenging circumstances. The conference explored the importance of media, freedom of expression, and the values that require safeguarding. German President Joachim Gauck delivered a powerful message to conference participants, emphasizing the shared responsibility of journalists worldwide. He highlighted the abundance of information available today, but also the increasing risk of manipulation and disinformation. Gauck stressed the importance of upholding reliable journalism that can be trusted. A notable moment at the Global Media Forum was when Sedat Ergin, editor-in-chief of Hürriyet, received the Deutsche Welle Freedom of Speech Award. Upon receiving the award, Ergin expressed his concerns about the lack of freedom of expression not only in authoritarian regimes, but also in so-called democracies. Fellow journalist Kai Diekmann emphasized the importance of press freedom and criticized the state of the press in Turkey. Some Turkish media outlets close to the ruling party reacted strongly, highlighting the challenges faced by journalists in the country. The role of bloggers and activists in societies without freedom of speech was also discussed at the GMF. Egyptian satirist Bassem Youssef participated in the award ceremony for The Bobs in Bonn, an event hosted by Deutsche Welle to recognize outstanding international online activists. German Commissioner for Human Rights Policy Bärbel Kofler joined a panel discussion with bloggers from Bangladesh who have sought asylum in Germany and other European countries due to threats from Islamist extremists and lack of protection from their government. The Forum aimed to raise awareness about the importance of providing asylum to journalists whose lives are at risk in their home countries. Journalist and author Martin Walker provided a somber assessment of the future of media, while international speakers on various panels at the conference emphasized that the media is currently at a critical turning point. The increasing emphasis on direct communication with people globally via social media presents journalism with new possibilities. DW's Director General Limbourg emphasized the importance of seizing this opportunity to have a real impact. | 4 |
Chief adviser Fakhruddin Ahmed emphasized the importance of industrialized nations providing climate adaptation funds for developing countries, who are the most affected by climate change, without imposing any conditions. He also urged wealthier nations to transfer advanced technology to help developing countries enhance their climate resilience. Fakhruddin stated that developed countries must offer adaptation funds and assist with technology transfer without any conditions. He emphasized that developed nations, as the main polluters, have a significant responsibility to reduce greenhouse gas emissions within the specified time limits. The SAARC climate conference was initiated following a suggestion by Dhaka, as there is concern that a significant portion of Bangladesh's land may be submerged due to rising sea levels caused by global warming. The meeting is expected to approve a joint declaration on taking action against climate change, which will impact the entire SAARC region including Afghanistan, Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan, and Sri Lanka. The Maldives island chain is particularly at risk from rising sea levels. Fakhruddin emphasized the need for SAARC countries to unite in urging developed nations to provide additional resources for adaptation efforts. He also mentioned Bangladesh's efforts to establish an international climate adaptation center for sharing knowledge and best practices. It was stressed that developed countries must make a firm commitment to reducing their emissions without conditions. He stated that it is crucial for us to take action in order to protect ourselves from the dangers of climate change. Fakhruddin warned that climate change will have devastating consequences for millions of poor people, leading to the worsening of floods, droughts, and salinity. He emphasized that the impact of climate change could be the worst tragedy in human history, surpassing even events like the 'Black Death' and World War II. He urged that we cannot afford to be passive and must take action to prevent this catastrophe. The SAARC Secretary-General, Sheel Kant Sharma, also stressed the importance of developed countries committing to reducing greenhouse gas emissions within specific timeframes. The inauguration was led by Devasish Roy, the special assistant for environment to the chief adviser, and also featured remarks from Iftekhar Ahmed Chowdhury, the foreign adviser. | 4 |
Colombia's coach Jorge Luis Pinto reassured that despite a 5-0 loss to Paraguay in the Copa America, the team will not be defeated. Pinto emphasized that the loss is not a catastrophe and that Colombia has not been completely destroyed in terms of their footballing abilities, tactics, or morale. He stated that while they may have lost the game, it is not the end of the world. "We haven't given up, we will respond." Despite Colombia's strong start in their first Group C game, they missed a penalty and ultimately lost to Paraguay. Their defense, usually solid, struggled in the second half. Their next game is against Argentina, who won their first match 4-1 against the United States. Pinto stated that changes will be made, including varying the style of play and the players. He also drew a comparison between the current match and Colombia's 5-0 victory over Argentina in a World Cup qualifier in 1993, noting that both games had similarities. | 4 |
A major global report released on Tuesday urges wealthy nations to take the lead in reducing carbon emissions to prevent negative impacts on health, education, and poverty reduction for the world's poor. The UN Human Development Report (HDR) 2007-08 also calls on developed countries to offer incentives to developing nations to address the challenges of climate change. Titled "Fighting climate change: Human solidarity in a divided world", the report was developed by the United Nations Development Programme (UNDP) using information from the Intergovernmental Panel on Climate Change Synthesis Report. It outlines a strategy for climate change negotiations in Bali, Indonesia, emphasizing the importance of acting within a narrow ten-year window. The report warned that if action is not taken soon, temperatures could rise above two degrees Celsius, leading to the disappearance of Himalayan glaciers, which are crucial sources of water and food for over two billion people. According to lead author Kevin Watkins, the carbon budget for the 21st century is being overspent and could be exhausted by 2032, putting the most vulnerable populations at risk. The report calls on the wealthiest countries to take responsibility by cutting emissions by at least 80 percent by 2050 and investing in international adaptation efforts to protect the world's poor. The report suggests that developed nations should implement a new system to share clean energy technology with developing countries. It references the success of Bangladesh's adaptation initiative, stating that every dollar invested in this program saves two to three dollars in assets that would otherwise be lost to flooding. The report also emphasizes the importance of addressing the damaging effects of flooding on nutrition, health, and education. It calls for developing Asian countries, such as China and India, to commit to reducing emissions by at least 20 percent by 2050. UNDP administrator Kemal Derviş highlights the need for Asia to increase access to affordable energy while reducing carbon emissions. The report proposes the establishment of a Climate Change Mitigation Facility funded by developed nations to provide incentives, including access to clean energy technology, to help guide developing countries towards a more sustainable development path. Watkins believes that rich countries must provide proper funding for technology transfer to poorer countries as a way to address their carbon footprint. The Pathway for Bali 'Fighting climate change' outlines a detailed checklist for political leaders convening in Bali in December, offering a plan for a post-2012 multilateral agreement that is both binding and enforceable. This agreement is deemed crucial to protect the planet and its most vulnerable populations from the severe impacts of climate change. Key points of the plan include reducing emissions from developing countries by 20 percent by 2050 and from developed countries by 30 percent by 2020 and at least 80 percent by 2050 compared to 1990 levels. Additionally, the creation of a Climate Change Mitigation Facility is proposed to finance low-carbon energy investments in developing countries, providing them with the necessary resources to transition to low-emission pathways and incentivizing them to commit to international emission reduction targets. This would require an annual investment of $25-50 billion. One way to achieve this is by establishing a suitable cost for carbon emissions through a mix of carbon taxes and an extensive global increase in cap-and-trade systems. Another approach is to enhance regulatory requirements by implementing and upholding stricter efficiency standards for vehicle, building, and electrical appliance emissions. Support the advancement of low carbon energy production by acknowledging the untapped potential for an increase in the use of renewable energy sources and the necessity for immediate investment in innovative technologies like carbon capture and storage (CCS). Allocate $86 billion or 0.2 percent of the combined GDP of northern countries towards adapting climate-resistant infrastructure and enhancing the ability of impoverished communities to withstand the impacts of climate change. Include adaptation in all strategies aimed at reducing poverty and extreme inequality, including poverty reduction strategy papers. Acknowledge the importance of carbon sequestration in forests and land in future global agreements, and support international financial transfer plans for forest conservation, as proposed by Brazil and other countries. | 4 |
South Korea, the fourth largest economy in Asia, has committed to choosing one of three targets for carbon emissions by 2020, aligning itself with other Kyoto signatories in efforts to combat climate change. The government announced it would select a 2020 gas emission target this year, with options including an 8 percent increase from 2005 levels, no change from 2005, or a 4 percent decrease from 2005 levels. Despite being one of Asia's wealthiest nations and a major industrial player, South Korea saw emissions double between 1990 and 2005, with per-capita emissions of carbon dioxide in 2005 matching those of some European countries and ranking 17th among OECD members. Sang-hyup Kim, Secretary to the President for National Future and Vision at the Presidential Office, acknowledged that the targets may appear modest compared to those of developed nations. However, these efforts are the best and most sincere attempts that showcase Korea's capabilities. The government has calculated that each goal will require 0.3 to 0.5 percent of GDP and will involve measures such as increasing the use of hybrid cars, renewable and nuclear energy, energy efficiency using LED lights, and implementing smart grids. Developed countries that are obligated by the Kyoto Protocol to reduce greenhouse gas emissions are facing strong demands from developing nations to set more ambitious targets for emission reductions as part of a larger climate agreement being negotiated. These discussions will reach a climax at the end of the year in Copenhagen during a major UN conference. Even wealthier developing countries like South Korea, Singapore, and Mexico are feeling pressure to announce plans for reducing emissions. South Korea's goals for reducing emissions are not as ambitious as those of developed countries like the United States and the European Union. Japan and the US are targeting reductions of 15 and 17 percent by 2020 compared to 2005 levels, while the EU and Britain are aiming for reductions of 20 and 34 percent by 2020 compared to 1990 levels. China and other developing nations are calling for wealthy nations to cut greenhouse gas emissions by at least 40 percent by 2020 to prevent severe impacts of global warming like droughts, floods, and sea level rise. | 4 |
A senior negotiator informed Reuters that China is open to including its voluntary carbon emissions target in a mandatory UN resolution, a move that could potentially push developed countries to prolong the Kyoto Protocol. The success of the UN climate talks in Mexico's Cancun beach resort relies on reaching an agreement to solidify national emissions targets post-2012, when the current round of Kyoto carbon caps expires. China's willingness to compromise is contingent on the United States committing to mandatory emissions reductions and an extension of the Kyoto Protocol, which currently mandates emissions reductions for nearly 40 developed countries, excluding the United States. Developing nations are in favor of continuing the protocol, while industrialized countries such as Japan, Russia, and Canada are pushing for a separate agreement that would regulate emissions for all nations. China had previously resisted the idea of making its domestic emissions targets mandatory, as is currently the case for industrialized nations. Huang Huikang, China's envoy for climate change talks, stated that a resolution can be created which would be binding on China. He mentioned that under the UN Climate Convention, a legally binding decision can be made, and the specific form of this decision can be discussed. He emphasized the importance of making efforts to address climate change a part of international efforts. He also expressed the opinion that overturning the Kyoto Protocol and starting from scratch is unnecessary to address concerns about climate change. Jennifer Morgan from the World Resources Institute in Washington described the proposal as a significant change. She believes it is a positive step towards reaching an agreement in Cancun. Alden Meyer from the Union of Concerned Scientists also sees promise in the proposal, although he acknowledges that the specifics will be crucial. China's chief negotiator, Xie Zhenhua, later explained that China's targets could align with the Convention, allowing developing countries to voluntarily commit to reducing emissions using their own resources. Huang stated that China will not change its stance on requiring new emissions targets to be included in an extended Kyoto agreement. China has always maintained that its efforts to reduce emissions are mandatory only within the country and not subject to international agreements. However, Huang acknowledged that China is now willing to participate in international efforts and sees this as a compromise. While China is open to compromise and playing a positive role, Huang emphasized that there is no room for compromise on the issue of the Kyoto agreement. Developing countries, such as China, the largest carbon emitter in the world, made a commitment at a summit in Copenhagen to voluntarily reduce their emissions. China's goal is to decrease its "carbon intensity" by 40-45% by 2020 compared to 2005, meaning reducing the amount of carbon dioxide emitted for each dollar of economic growth. Huang suggested that this intensity target could be incorporated into a resolution. | 4 |
UN Secretary-General Ban Ki-moon stated that the progress made on climate change at the G8 summit was inadequate. He emphasized the importance of taking strong and immediate action to address this issue for the sake of humanity and the planet. Despite the G8's agreement to cut emissions by 80% by 2050, Ban criticized the leaders for not making more significant commitments. President Barack Obama also acknowledged the need for more ambitious efforts to address climate change, following Ban's criticism of the G8's lack of decisive action. At the beginning of the Group of Eight major industrialized nations meeting in L'Aquila, Italy, they were unable to convince China and India to commit to cutting greenhouse gas emissions in half by 2050. Despite this setback, President Obama remained optimistic and believed that progress could still be made before the UN climate change treaty talks in Copenhagen in December. He expressed this sentiment to Brazilian President Luiz Inacio Lula da Silva, stating that there was still time to resolve the disagreement before the important meeting. Obama was scheduled to lead the Major Economies Forum (MEF), where they were expected to aim to limit global warming to 2 degrees Celsius compared to pre-industrial levels, although they were not likely to agree on specific emission reduction targets. The absence of Chinese President Hu Jintao, who had left the summit to address ethnic conflicts in China that had resulted in numerous casualties, hindered the progress of the discussions. Temperatures have increased by approximately 0.7 degrees Celsius since the Industrial Revolution, which was marked by the widespread use of fossil fuels. British Prime Minister Gordon Brown expressed hope that all countries present at the meeting, including major powers like the United States, Japan, and China, would agree on a temperature target. However, a G8 source expressed doubt that a deal on emissions could be reached. India insisted that developing countries would first need to see plans from wealthy nations to provide funding to help them deal with the effects of climate change before agreeing to deeper emissions cuts by 2020. The G8 countries have agreed to aim for a 50 percent reduction in global emissions by 2050, with the United States agreeing to this target for the first time. In addition, they have set a goal of an 80 percent reduction in emissions for developed countries. However, Russia quickly stated that it would not be able to meet this target by 2050, and Canada's Environment Minister Jim Prentice referred to the 80 percent goal as an "aspirational goal." The summit also focused on the fragile state of the world economy, with wealthy nations recognizing significant risks to financial stability. China, along with Russia, India, and Brazil, used the second day of the summit to advocate for a long-term diversification of the global reserve currency system away from reliance on the dollar, a sensitive issue in currency markets. State Councilor Dai Bingguo suggested the need for a better system for issuing and regulating reserve currencies in order to maintain stability in exchange rates and promote a diverse international reserve currency regime. The G8 and G5 expressed hope for progress in the stalled Doha trade talks, aiming to conclude them by 2010. The Doha round, initiated in 2001 to aid developing nations, has faced obstacles related to proposed tariff and subsidy reductions. The G5 emphasized the importance of addressing issues with the Doha talks to boost confidence in global markets, urging wealthy nations to eliminate trade barriers and provide financial support to poorer countries. | 4 |
When 96 individuals from China arrived at Taoyuan International Airport near Taipei, they realized they had been deceived after paying a significant amount of money to participate in a music competition promising substantial cash prizes. The scam involved a fraudster creating fake invitations from the city of Taipei, collecting the entry fees, and leaving the "contestants" stranded at the airport in mid-February. Some of the musicians were so upset that they decided not to return home. Experts in crime anticipate a rise in such fraudulent activities in Asia, particularly in greater China, as the economic downturn drives scammers to target vulnerable individuals seeking a change in fortune. Chu Yiu-kong, a criminologist at Hong Kong University, noted that there has been a surge in victims due to the economic crisis. Chinese individuals have a strong fondness for money, making it easy for them to become ensnared by financial traps. Additionally, they place great importance on fortuitous opportunities, particularly during challenging circumstances. The current global economic downturn has negatively impacted trade-dependent Asian nations such as Singapore, Hong Kong, Japan, and Taiwan, leading to recession and cost-cutting measures by large corporations in the area. Experts in crime suggest that fraudulent individuals tend to flourish in these dire economic conditions. Police warn that scams such as job search deception, fraudulent money lending, and misleading individuals into paying large fees for fake lottery winnings or business opportunities are on the rise. One particular scam targets job seekers in Taiwan, Hong Kong, and China, where swindlers pose as recruiters and convince applicants to invest in the companies they are applying to. Unfortunately, these companies and the money invested disappear when job seekers follow up on their applications. As a result, many individuals, like 26-year-old Zhou Yang from Shenzhen, China, are wary of roadside job agencies due to the prevalence of scams. According to local media reports, a scam artist in south China was able to make 800,000 yuan ($117,000) last year by sending text messages from a mobile phone using a common Chinese name to demand repayment of a debt. The victims, who mostly owed money to different individuals, believed they were being pressured to pay back their debts. This type of scam only adds to the hardships faced by those already struggling financially. Chang Chin-lan, a prevention officer with Taiwan's Criminal Investigation Bureau, expressed concerns that as deception crimes increase, people may become more desperate and their morals may decline. Police statistics in Taiwan show that deception crimes rose by 33% from about 31,000 in 2007 to 41,000 in 2008. The Hong Kong police saw a significant increase in deception crimes in the last quarter of 2008, rising from 1,071 to 1,414 cases. In Singapore, authorities are predicting a rise in phone scams and other forms of fraud due to the struggling economy, with "cheating and related offences" increasing by approximately 10 percent from 2,917 in 2006 to 3,254 last year. The Singapore Police Force has warned that phone scams are likely to continue during these tough economic times, with scammers developing new tactics to manipulate victims into giving up their money. Beyond economic factors, advancements in technology have also played a role in the proliferation of scams, enabling fraudsters to reach a wider audience and deceive individuals across borders. According to Tsai Tien-mu, a criminology professor at Taipei Police College, costly hoaxes began to emerge in Asia around 2001 with the emergence of the Internet and mobile phones that provide anonymity and protection from law enforcement, even in different countries. Tsai mentioned that it is now simple for anyone to contact anyone else, whereas previously, the aggressor had to physically meet the victim. Due to the ease with which con artists can conceal themselves, law enforcement faces difficulties in solving fraud cases. In Taiwan, only 10 percent of cases are resolved by police officers. Conversely, in Hong Kong, police prioritize public education over pursuing individual con artists, according to Chu from Hong Kong University. Frequently, scammers operate from China, where they are difficult for Hong Kong law enforcement to apprehend. According to Zhou, a job seeker in Shenzhen, the police in mainland China are not very helpful to victims of fraud. Zhou mentioned that even if you are cheated, contacting the police is not effective, as they rarely respond and provide assistance. | 4 |
The UN's top climate change official, Yvo de Boer, urged the European Union to quickly develop strategies to assist developing countries in combating global warming in order to prevent a potential deadlock that could hinder global action. De Boer emphasized the importance of industrialized nations prioritizing this issue and increasing aid to help developing nations reduce greenhouse gas emissions. The agreement reached in Bali, Indonesia, in December involved setting a global plan by 2009 to address climate change, expanding on the Kyoto Protocol which binds 37 industrialized nations to reduce greenhouse gases until 2012. De Boer stressed the need for a tangible increase in resources as indicated by the Bali agreement. This would then encourage developing countries to shift their economies away from fossil fuels and towards cleaner energy sources. The commitment of developing nations, particularly China and India, is crucial for many wealthy countries, led by the United States, to reduce emissions. Without the involvement of developing countries, it becomes challenging for countries like the United States, Japan, Canada, Australia, and the EU to make progress in this area. The Climate Secretariat in Bonn is focusing on addressing the increasing challenges of climate change, such as floods and heatwaves. The EU is recognized as a leader in combating climate change, with the U.N. Climate Panel warning of more extreme weather events like heatwaves, floods, droughts, and rising sea levels in the coming century. De Boer, from the Climate Secretariat, suggests innovative funding solutions like auctioning carbon dioxide emission rights in the EU and using the proceeds to support developing nations. Another option is to increase a levy on the Kyoto project, which allows wealthy nations to invest in reducing greenhouse gas emissions in developing countries. De Boer emphasized the importance of EU budgets for research and development in tackling climate change. He stated that without resources for developing countries, it would be challenging for the EU to effectively address climate change. De Boer also called on French President Nicolas Sarkozy to finalize a package of climate measures during the French EU presidency in the latter half of 2008. The EU Commission had previously proposed goals such as reducing greenhouse gas emissions by 20 percent below 1990 levels by 2020 and increasing the use of renewable energy to 20 percent in power production. De Boer stressed the need for the package to be completed under the French presidency so that it can be presented to the European Parliament. France and Germany expressed concerns last week about how the plan could put European jobs at risk. De Boer emphasized that the European Union needs to fulfill its commitments and distribute the responsibilities fairly. It is crucial for the EU's credibility on the global stage to provide clear signals on how they will achieve the target. To read more environment blogs from Reuters, click on the following link. | 4 |
In a conference at the London School of Economics, speakers warned about the serious environmental, ecological, social, and economic impacts that the planned unilateral construction of Tipaimukh Dam by India will have on the millions of people of Bangladesh and northeastern India. The Voice for Justice World Forum called for a joint feasibility study between the governments of Bangladesh and India before proceeding with any dam construction to find a fair and equitable solution to the potential environmental disaster. It was emphasized that as an upper riparian country, India has a moral and legal obligation to consult with Bangladesh before building such a dam. Dr Hasanat Hussain MBE, Convenor of the World Forum of the Voice For Justice, chaired the conference, which was praised by British treasury minister Stephen Timms for convening in London. He informed the conference that the British government will always support the oppressed globally and collaborate with organizations like VFJ to advocate for human rights and justice for the underprivileged. The first world forum of VFJ was held at the London School of Economics by a coalition of its European, US, Canadian, and Asian chapters. The event was attended by expatriate Bangladeshi academics, experts, VFJ members, and various individuals from the British-Bangladeshi community in the UK. Former planning and science minister Abdul Moyeen Khan and former Bangladesh high commissioner to the UK Sabih Uddin participated in the discussion online. Concerns were raised about the potential construction of barriers on the rivers Surma and Kushiara, which could lead to a humanitarian crisis for millions of people who rely on these rivers. Dr K M A Malik from the University of Cardiff presented a paper on Climate Change in South Asia, focusing on Bangladesh, at the conference. Dr Mahbub Khan from California State University discussed the 'Rights of Migrant Workers in Gulf States', while Hasan Mahmud, director of Sharia Law of Muslim Canadian Congress, presented a paper on 'Women's rights in Islam'. The speakers emphasized the need for formal bilateral agreements between migrant-sending states like Bangladesh and migrant-receiving states in the Gulf to protect the rights and dignity of migrant workers. They called on the governments of host countries to prioritize the human rights of migrant workers who contribute significantly to their economies through remittances. Hasan Mahmud reaffirmed in his paper that Islam and Sharia law promote and protect women's rights fairly and justly. He expressed his regret that the misunderstanding and distortion of these laws over time as a result of social and cultural biases have resulted in discriminatory treatment towards women in numerous societies. Professor Anthony Booth, who leads International Education at Christchurch University in Kent, UK, as well as Prof. Shamsul Islam Choudhury from Roosevelt University in the US, Dr. Abdur Rahman and Dr. Zakia Rahman from Limmeric University in Ireland, Dr. Stephanie Eaton from Kingston University in the UK, Luthfur Rahman Choudhury, and the joint convenors of the World Forum of Voice For Justice from London, Kent, Birmingham, Manchester, Cardiff, Edinburgh, and Newcastle all participated in the question and answer sessions at the end. | 4 |
Sayed Talat Kamal, reporting from Durban, South Africa, states that developing countries are expressing concerns that they are more committed to addressing climate change as a serious global crisis compared to wealthy nations. The US, in particular, is criticized for being slow to act on important climate issues. Delegates from Europe and the African bloc at the UN Climate Summit in Durban have criticized the US stance. Seyni Nafo, a delegate from Mali, remarked that developed countries, especially the US, are not prioritizing climate change as a global issue. Nafo emphasized the need for the US to demonstrate the same leadership in addressing climate change as it does in promoting democracy, human rights, and market access. The EU's chief negotiator, Arthur Runge-Metzger, expressed concerns about the US delegation being hindered by the current US domestic situation, where climate change is seen as unpopular. He acknowledged that the Obama administration is facing difficulties moving forward on climate change due to Congress. The US is seen as delaying negotiations by pushing for conditions in the deal that would legally bind all countries to limit their greenhouse gas emissions, which is holding up discussions on how to raise the US$100 billion allocated for developing low-carbon economies in poor countries and addressing the impacts of global warming. Climate change is caused by greenhouse gases trapping heat from the sun in the earth's atmosphere, leading to rising global temperatures and resulting in extreme weather events such as cyclones, floods, sea level rise, droughts, erosion, and higher salinity levels. It is widely recognized that a temperature increase of over 2 degrees Celsius would result in irreversible climate change. According to global studies supported by the UN and the scientific community, reducing global emissions to 40 percent of 1990 levels by 2020 and to 95 percent by 2050 is necessary to limit temperature rise to 1.5 degrees. The US prefers voluntary pledges from countries to control emissions, rather than a binding target. The US has committed to a 17 percent reduction in emissions from 2005 levels by 2020. Some experts believe that these voluntary pledges, when combined, will only achieve half of what is needed to prevent a climate crisis. Rene Orellana, leader of the Bolivian delegation, has firmly rejected the Reducing Emissions from Deforestation and Forest Degradation (Redd) initiative in Bolivia's initial statement. Orellana stated that forests are not meant for storing carbon and emphasized the importance of forests for food security, water resources, and biodiversity for indigenous people in Bolivia. Redd stated that the forest's only function is as a carbon stock, according to Orellana. He also criticized certain aspects of the Green Climate Fund, specifically payments tied to the results of green initiatives. Despite recent political instability in Bolivia, the country has remained steadfast in its environmental stance at the 17th meeting of the UN climate change convention. For instance, Bolivia recently passed groundbreaking legislation granting nature equal rights to humans. Scientists are forecasting that heat waves, which currently occur every 20 years, will become an annual occurrence due to rising levels of greenhouse gases in the atmosphere. Furthermore, coastal regions and islands are at risk of flooding due to the effects of global warming, potentially affecting up to 250 million more people with water scarcity within the next ten years. Supporters of climate action maintain that limiting carbon emissions in the atmosphere would only slightly impede economic growth by 0.12 percent annually. They also argue that the benefits, including improved health, increased energy security, and more reliable food sources, would outweigh the costs. | 4 |
The environment state minister has criticized developed countries for their deceptive behavior regarding climate funds. Hasan Mahmud stated that rich countries have not lived up to their promise to reduce carbon emissions and have failed to provide the $30 billion they pledged for Fast Start Funding at the Copenhagen conference in December 2009. Hasan noted that only eight percent of the funds had been paid by November 2011, despite the commitment to clear them by 2012. "He mentioned that there is a deception at play here. The claim is that the money has already been provided, but upon closer inspection, it is clear that the funds given in 2008 are being labeled as Fast Start Funding," he explained. The roundtable discussion took place in preparation for an upcoming climate change conference in Durban, South Africa starting on November 28. The minister of state revealed that Bangladesh had put forth a suggestion for a central organization to allocate the funds during the conference." He also emphasized that priority should be given to countries in need when distributing funds, rather than favoring countries with better relations with donors. Hasan expressed disappointment with developed countries for not making significant progress in reducing carbon emissions, holding them responsible for global warming. He noted that a person in Bangladesh emits 0.3 tonnes of carbon per year. The figure is 1.6 tonnes in developing nations and 15-20 tonnes in developed countries. He also mentioned his optimism for a positive result from the Climate Vulnerable Forum on Sunday, which will have the participation of United Nations secretary-general Ban Ki-moon and prime minister Sheikh Hasina. The roundtable was led by chairman Qazi Kholiquzzaman of the Palli Karma-Sahayak Foundation. | 4 |
Bangladesh's state minister for environment, Hasan Mahmud, expressed dissatisfaction with the European Union's climate fund commitment in Copenhagen on Saturday. The EU pledged 10 billion euro over three years to the climate adaptation fund, but Mahmud raised concerns about whether this commitment is in addition to Official Development Assistance (ODA). He emphasized the need for industrialized nations to contribute around 1.5 percent of GDP to the adaptation fund, which could create a $400 to $600 billion fund. The state minister emphasized that the proposal from the EU is insufficient to generate the necessary $400-600 fund for adaptation. He stated that poor and vulnerable nations are firm in their demand for a separate climate fund, separate from existing ODA and not controlled by financial institutions like the IMF and World Bank. He suggested the creation of a new institution that is easily accessible and more transparent. Hasan emphasized that 70 percent of funds should go to the least developed or most vulnerable countries, with 15 percent specifically allocated to Bangladesh. He stated that over one billion people are at risk of climate change globally. Hasan mentioned that Bangladesh is leading the formation of a new group called Most Vulnerable Countries (MVCs) and has reached out to potential member countries. He anticipates that around 20 countries will join this new group. He stated that the UN recognizes G-77 or LDCs in the context of economic development. He mentioned that efforts are being made to achieve similar recognition for climate change. He emphasized the need to create a new group of vulnerable countries for more effective negotiation. Hasan highlighted Bangladesh as the most vulnerable country, leading the Global Climate Risk Index with fifteen percent of the 1 billion most vulnerable people residing in the country. Fifteen percent of the adaptation fund should be allocated to Bangladesh as it is a demand based on the country's significant impact from climate change, including sea level rise and extreme weather events. The total number of affected people in Bangladesh is expected to be higher than that of small island countries. A delegation from Dhaka held a panel discussion during the conference, focusing on Bangladesh's status as a victim of climate change. Dr. Ainun Nishat, a climate expert, focused on discussing the effects of climate change on food and agricultural production, water management, health, and infrastructure. | 4 |
Reinhart, who was promoted to a senior management position as part of the bank's effort to regain trust following ethical concerns, stated that key ideas for the new product were already clear. These included a push for more transparency in methodology, increased use of survey data from companies, and less emphasis on ranking countries. Reinhart emphasized that all details would be made public in order to restore credibility. Additionally, the bank would rely more on survey data to minimize subjective judgments and eliminate the competitive aspect of rankings that encouraged countries to manipulate the system. In September, the bank's board decided to stop releasing the annual "Doing Business" rankings due to concerns about data irregularities in the 2018 and 2020 versions. It was alleged that senior bank officials, including former chief executive Kristalina Georgieva, who now leads the IMF, pressured staff to manipulate the data. A law firm, WilmerHale, is currently investigating possible staff misconduct related to the data changes that favored certain countries like China and Saudi Arabia. The IMF's board supported Georgieva after investigating the allegations, but she may still be implicated in the ongoing review. Reinhart expressed concern that the situation has damaged the World Bank's credibility, and rebuilding trust will require time and effort. She emphasized the importance of credibility being based on systems rather than personalities and mentioned that the bank has implemented numerous safeguards over the past year following external reports. She stated that although nothing in life is guaranteed to be completely safe, taking precautions can decrease the likelihood of misuse and abuse. She hopes that credibility will be gained over time, as it is challenging to build and easy to lose. Reinhart initiated a comprehensive review of the Doing Business methodology by an external advisory panel in response to internal concerns about potential data manipulation in the reports. The extensive 84-page review that followed called for various corrective measures and changes, pointing out a consistent pattern of government attempts to manipulate the scoring process. It criticized the bank for not being transparent about the data used and recommended that it cease offering consulting services to governments to boost their scores, a practice that had already been stopped in 2020 and 2021 according to Reinhart. She mentioned that once the second WilmerHale report was finished, the bank would assess the broader implications of the scandal and determine any additional actions needed. "We will address that issue once we have the complete report," she stated. | 4 |
Two British ministers, who arrived in Dhaka on Monday, have stated that the UK will assist Bangladesh in safeguarding the interests of the least developed countries (LDCs) at the important Copenhagen climate negotiations scheduled for December this year. The pledge was made by Douglas Alexander, UK minister for international development, and Ed Milliband, responsible for energy and climate change, a day before Prime Minister Sheikh Hasina's departure to Geneva to attend the World Climate Conference-3. "We will...discuss how the UK can help Bangladesh in taking on a significant role in representing the interests of the Least Developed Countries (LDCs) at the crucial Copenhagen summit in December," Alaxander informed reporters upon arrival in Dhaka. The two British ministers proceeded to meet with Hasina to discuss climate change and development cooperation between their respective countries. Bangladesh currently holds the chair of the 50-member LDC Group, which comprises countries that are most susceptible to the adverse effects of climate change, largely due to emissions from developed countries. Wealthy countries, such as Britain, are seeking to form a partnership with the Least Developed Countries (LDCs) in order to encourage countries like China and India to commit to reducing their greenhouse gas emissions. A new international legal agreement to reduce carbon emissions will be discussed at the upcoming UN meeting in Copenhagen, replacing the current Kyoto Protocol which only imposed emission reduction requirements on developed nations. The Bali climate talks in 2007 acknowledged the need for major emerging economies to cut emissions. By joining forces with developed nations, the LDCs aim to put pressure on China and India, who are now considered significant contributors to greenhouse gas emissions. Bangladesh is considered to be highly susceptible to the impacts of climate change. The country's initiatives in adapting to and reducing risks from climate change are seen as valuable examples for other nations. Ed Milliband emphasized the significant challenges faced by Bangladesh and stated that the UK is dedicated to supporting the country in overcoming these challenges. During their visit, the ministers had dinner with foreign minister Dipu Moni at the state guest house Padma on Monday evening. The UK government launched the International Climate Champions Initiative in Bangladesh, allowing 15 Bangladeshi youths aged between 18 and 35 to participate in the Copenhagen summit. The project aims to raise awareness about climate change and its adaptation among the younger generation. Interested candidates must submit proposals on climate change, with the final selection being made by a panel led by Dr. Atiq Rahman of the Bangladesh Centre for Advanced Studies. | 4 |
French Foreign Minister Lauren Fabius, who is leading the U.N. conference, stated that he still intended to release a nearly final draft on Thursday afternoon in order to minimize disagreements and pave the way for a final round of revisions. Fabius emphasized the need for a final agreement to be reached by Friday, the official closing date of the meeting, rather than extending the conference as has been done in the past. However, there are still disagreements among ministers and negotiators from 195 countries on key issues such as which countries should provide funding to assist developing countries in transitioning to cleaner energy sources. The disagreement has heightened tensions behind closed doors between the United States and China regarding the "minimalist" stance taken by some countries, according to US Secretary of State John Kerry. While the Chinese did not delve into specifics, they indicated a willingness to find a middle ground. The question remains whether the target should be 1.5 or 2 degrees. Chinese negotiator Gao Feng mentioned that a new draft will be released today with fewer unresolved issues, but emphasized the need for further discussions with colleagues. Feng hinted that an agreement could be reached by Friday or Saturday. The discussions have brought back disagreements about how ambitious the agreement should be in addressing the increase in global temperatures. Developing nations are pushing for a long-term goal of limiting temperature rise to 1.5 degrees Celsius above pre-industrial levels, despite the fact that current carbon emission reduction pledges fall short of that target. Many are still wary of the failure to reach a deal in Copenhagen in 2009. Alex Hanafi from the Environmental Defense Fund notes a strong desire for an agreement this time, but questions whether it will be effective. Jose Ramos-Horta, a former president of East Timor, emphasizes that no country should expect to achieve all of their demands in the agreement. He told Reuters that a treaty should not be treated as infallible like the Bible, and that it can be reviewed and strengthened in the future. | 4 |
The initial UN special session on climate change was centered around the wealthier nations, with policymakers emphasizing the need for long-standing polluters to take on a significant portion of the responsibility for reducing greenhouse gas emissions. Economist Nicholas Stern stressed the importance of both wealthy and developing countries coming together to address the issue, advocating for a global agreement to limit human-made emissions. Stern proposed a global target of a 50 percent reduction in greenhouse gases by 2050, but suggested that richer nations should aim for even larger cuts, around 75 percent, due to their historical responsibility and greater access to resources. Stern, a former head of the British government's economic service and current professor at the London School of Economics, suggested that it may be necessary to provide financial support for emissions cuts in other countries. British Prime Minister Gordon Brown also emphasized the need for industrialized countries to take responsibility for climate change, as the impacts will disproportionately affect the poorest nations. Sunita Narain, director of India's Center for Science and Environment, criticized the lack of real action by political leaders in addressing climate change, calling for more substantial emissions reductions from the developed world. At a gathering, environmental scientist John Holdren from Harvard University attributed droughts, floods, rising sea levels, and more intense storms to global climate change, stating that these events could not be explained by natural climate fluctuations. The United States, a major emitter of greenhouse gases, did not make a statement during Tuesday's sessions and has resisted setting strict targets for reducing emissions, arguing that it would harm the US economy. Instead, Washington has advocated for voluntary rather than mandatory cuts in emissions. In June, President George W. Bush joined other leaders of the Group of Eight industrialized nations in agreeing to make significant reductions in emissions and to negotiate a new global climate agreement that would build upon the Kyoto Protocol. The two-day climate meeting at the United Nations, which ends on Wednesday, is unique in its substance and approach. The event is environmentally friendly, as any carbon emissions produced by air travel and the UN Headquarters building in New York are counteracted through investment in a biomass fuel project in Kenya. | 4 |
The hearing follows a series of sexual assault scandals and recent Pentagon data showing a significant increase in unwanted sexual contact in the military, from groping to rape, which has caused embarrassment. The top military officers, including the chairman of the Joint Chiefs of Staff, appeared before the Senate Armed Services Committee to assure Congress that they are taking the issue seriously. While some lawmakers, like Senator Kirsten Gillibrand, propose removing responsibility for prosecuting sex crimes from the victim's chain of command and giving it to special prosecutors, others, like General Raymond Odierno, believe that maintaining the power of commanders is crucial for maintaining unit cohesion. Despite disagreements on how to address the issue, many critics agree that the military justice system is broken and in need of significant change. An increase in reported cases of unwanted sexual contact in the military has sparked outrage in Congress, with some high-profile cases highlighting leniency shown to accused offenders by commanders. Senator John McCain expressed disgust and disappointment over the continued reports of sexual misconduct in the military, emphasizing the need for action rather than just talk. Senator Carl Levin, head of the Armed Services Committee, showed understanding for military concerns about maintaining the power of the chain of command. Levin stated that only the chain of command has the power to create a strict policy against sexual offenses and to address any issues within the command climate that may lead to or allow sexual assaults. | 4 |
A climate tribunal organized by Oxfam in Dhaka has placed blame on developed countries for the destruction of livelihoods in coastal Bangladesh, specifically impacting fisherfolk communities. The tribunal highlighted climate change as the cause of misery for these communities and held Annex-1 countries accountable due to their large emissions. The event, coordinated by the Campaign for Sustainable Rural Livelihood, featured testimonies from climate victims and aimed to find legal ways to protect those affected by climate change. The committee also received input from two specialists in the fields of climate change and international law to explore the connection between the scientific, national, and international legal aspects of climate change, as well as the ongoing multilateral negotiations. Unfortunately, there is currently no globally binding legal instrument in place to ensure compensation for countries impacted by climate change due to carbon emissions from developed nations, according to legal expert Ahmed Ziauddin. Ziauddin explained that while Bangladesh could bring complaints to international courts such as the UN court in The Hague, the WTO, and UNESCO, there is no mechanism for individual countries to seek damages on their own. He suggested that Bangladesh include provisions for climate change in its constitution and emphasized the lack of a legal definition for climate change within the country. Climate change expert Ahsan Uddin Ahmed stated to the tribunal that developed nations often request specific evidence of damage caused by climate change in an apparent attempt to avoid their responsibilities. He emphasized that while the scientific evidence of climate change is clear, it is difficult to establish a separate account for the damages. Following testimonies, the jury recommended the creation of a new law and the inclusion of a climate change article in the constitution. The jury concluded that developed nations, being primarily responsible for climate change, should bear the costs of mitigating its effects. They also noted that the human rights of coastal communities had been violated by the impacts of climate change. The jury panel was made up of politicians Saber Hossain Chowdhury, Tarana Halim, Hasanul Huq Inu, and economist Quazi Kholiquzzaman Ahmed. | 4 |
At the conclusion of three weeks of mid-year climate talks conducted online due to the COVID-19 pandemic, Patricia Espinosa urged countries to set aside their differences and collaborate in the months leading up to the crucial COP26 negotiations in Glasgow. Despite the challenges of virtual meetings, governments were able to effectively participate and make strides in various areas, such as establishing common timeframes for emissions reduction goals and enhancing transparency in reporting climate actions. However, disagreements still exist regarding the regulations governing global carbon markets, requiring higher-level political guidance according to the UN climate body. Espinosa emphasized the need for continued efforts to make significant progress before COP26, stressing the importance of the upcoming negotiations. "There is a lot at stake," stated the top UN official. "I encourage us to meet the challenges of our time, to complete the work, to reconcile our differences, to keep our promises." The June discussions were the initial official UN climate negotiations since the end of 2019, as the pandemic caused delays. The COP26 summit is responsible for finalizing regulations for the 2015 Paris Agreement on climate change so that the agreement can be fully enforced, according to UN officials. "We need to succeed at COP26," Espinosa informed reporters on Thursday. "It is a test of our credibility in combating the climate crisis - it is crucial for a sustainable recovery and it demonstrates commitment to multilateralism when it is most needed." Stumbling blocks remain as many nations have not yet submitted stronger climate action plans required under the Paris accord last year, which were delayed by the pandemic. Emissions reductions promised by governments are still far from what is necessary to meet the Paris goals of limiting global warming to below 2 degrees Celsius, according to the United Nations. Failure by wealthy nations to fulfill longstanding climate finance pledges to assist poorer countries transition to renewable energy and adapt to climate change impacts is also hindering progress. The pandemic has further complicated matters as developing nations struggle to secure access to vaccines, potentially affecting their ability to attend the COP26 summit in person. British Prime Minister Boris Johnson, as the host of the conference, stated this month that his government is working with the United Nations to provide COVID-19 vaccinations to accredited delegations who may not have access to them otherwise. Diann Black-Layne of Antigua and Barbuda, representing the Alliance of Small Island States, expressed concerns about the ongoing impact of COVID-19 on the road to COP 26, as well as the need for progress on climate finance. Sonam P Wangdi of Bhutan, chair of the group of least developed countries at the UN talks, emphasized the importance of fulfilling climate finance commitments for success. Rich nations have faced criticism for not meeting their promise to raise $100 billion annually from 2020 to support poorer countries in addressing climate change. Criticism was directed at G7 leaders for not providing a clear plan on how they would meet their pledge at a recent summit, despite Germany and Canada committing additional funds. The virtual UN climate talks this month did not result in formal decisions due to technical difficulties. Alok Sharma, the UK official overseeing COP26, intends to convene ministers from over 40 countries in London in late July to accelerate progress. Britain's lead climate negotiator, Archie Young, acknowledged the need for more clarity on issues such as vaccinations and logistics for COP26. Sharma announced that London is working on a plan to offer vaccines to all accredited COP26 participants, including government officials, environmental group representatives, and media personnel, with details to be released soon. | 4 |
At the beginning of the pandemic, the CDC initially moved slowly due to the rapid spread of a new virus, resulting in delays in testing and surveillance. Outdated methods and infrastructure hindered the agency's response, leading to delayed recommendations on masking and recognition of the virus being airborne. The emergence of the highly contagious omicron variant has forced the CDC to make rapid decisions based on limited evidence, causing concern about the impact of these guidelines on the economy and education. The director of the agency, Dr. Rochelle Walensky, has at times bypassed much of the usual scientific review process, most recently by shortening the isolation period for infected Americans. Following the Trump administration's interference, President Joe Biden took office pledging to restore the CDC's reputation for independence and rigorous science. Walensky now faces the challenge of effectively communicating to the public that the science is still evolving and our current recommendations are based on the best available information. This shift has been difficult for a bureaucracy primarily staffed by medical professionals. In recent interviews, some CDC officials privately expressed feeling demoralized by the decisions and concerned about Walensky's increasing reliance on a small group of advisers and the perceived political influence from the White House. Others outside the agency praised Walensky for her efficient handling of a national emergency, even when faced with unclear data and uncertainty among agency researchers. Dr. Richard Besser, who led the CDC during the H1N1 outbreak, noted that policy decisions during a pandemic are not solely the responsibility of the CDC. However, he emphasized the need for more clarity when policy and economics influence agency recommendations. Currently, over 800,000 Americans are being infected daily, causing challenges for schools, businesses, and hospitals across the country. At the end of December, Walensky announced that individuals infected with the virus would only need to isolate for five days if they were no longer showing symptoms, and that a negative test result would not be necessary to end the isolation period. Critics were concerned that allowing contagious individuals to return to offices and schools could lead to the spread of the virus. While some pointed out the lack of research supporting a shorter isolation period for omicron infections, the recommendation was seen as a way to help keep hospitals, businesses, and schools functioning during the omicron surge. Dr. Thomas Frieden, who led the agency under President Barack Obama, stated that the recommendations for isolation were essentially accurate. They were not explained, leading to new tensions in decision-making at the CDC. Walensky frequently justifies recommendations based on rapidly evolving science, which may be confusing or unpopular. The agency's new recommendations for shortened isolation periods were described as swift science-based action to address potential staffing shortages. This approach has been a recurring theme for Walensky. In March, the CDC advised that schoolchildren could safely sit 3 feet apart instead of 6 feet, despite limited research supporting the recommendation. However, this change did make it easier for schools to consider reopening. In May, Walensky used scientific data to inform vaccinated individuals that they could remove their masks and socialize freely, despite criticism from experts who believed this decision overlooked the risk of breakthrough infections, particularly from the delta variant. In August, Walensky supported booster shots for all Americans alongside Biden, preempting the review of data by FDA and CDC scientists. The recent guideline on isolation caused internal turmoil within the agency due to the manner in which it was established and communicated. Following an emergency meeting on a Sunday night after Christmas, Walensky consulted with the agency's COVID response leaders. She informed them that the agency would reduce the recommended isolation period and eliminate the need for a negative test result before ending isolation. This information was shared during a video call by an official who requested anonymity. The new guidelines would be released the following day by Walensky, and no one was permitted to discuss it until then. The scientists were taken aback and rushed to gather data to support the changes and update the agency's website content related to quarantine and isolation. Typically, federal researchers carefully analyze data, write a draft, and refine it based on feedback before releasing new recommendations. However, in this case, there was limited evidence supporting the shortened isolation period, which was mainly focused on the delta variant. As a result, the usual "science brief" that accompanies guidance was changed to a "rationale" document. Some researchers were upset about not being involved in the decision-making process and were angered by the agency's statement that the change was based on science. Despite some believing the new five-day cutoff was arbitrary, they were aware of data showing rapid tests might not detect all omicron infections, so they mostly agreed with Walensky's decision not to require a negative test before ending isolation. However, when Walensky announced the new recommendations to staff on Dec 26, they were unprepared. CDC scientists then spent a week updating guidance documents on the website, while 2,000 health officials, lab directors, and researchers joined a weekly call with CDC officials. During a call on Dec 27, state and local officials asked agency scientists about isolation guidance for the general public before the CDC released its statement. CDC staff members were silent due to strict orders not to discuss the new recommendations. Scott Becker, CEO of the Association of Public Health Laboratories, expressed a desire for more opportunity for input and advance notice. Supporters of Walensky stated that the CDC's change in direction was necessary and that she had made the correct decisions. The agency, which is large and filled with researchers who typically work methodically, needed to act more urgently in response to the pandemic. Frieden noted that there are individuals at the CDC who do not fully understand the urgency of the situation. He stated that during his time in office, he often encountered CDC staff who were sometimes charming but also clueless about the potential impact of their recommendations and statements. Many experts believe that Walensky has unfairly been made a scapegoat for the frustrations caused by the unpredictable nature of the virus. Leading the CDC is difficult even in normal circumstances, but Walensky took on this role during a pandemic, in a politically charged environment, and at a time when the agency's credibility and staff morale were low. The fact that agency researchers are still working remotely is seen as a major obstacle to overcome. There are concerns about the current state of the CDC. Besser expressed his concern about the nation's trust in public health and emphasized that blaming Dr. Walensky for this issue is unfair. Walensky has been explaining the reasoning behind her decisions in White House news briefings, but in response to criticism about unclear messaging, she and other agency scientists held their own briefing last week. This move was seen as a positive step in rebuilding trust in the CDC and providing clarity on its decisions. Some experts believe it is crucial to separate public health considerations from political considerations. "Through conducting briefings from the CDC, she will have the opportunity to elevate the CDC scientists and experts. The conflicts within the CDC existed before the pandemic and before Walensky's leadership. There has been tension between the CDC and the National Institutes of Health, led by Dr. Anthony Fauci, even during previous public health crises. Recently, Fauci and Surgeon General Dr. Vivek Murthy made statements on television that the CDC would reconsider its isolation recommendations, even though the agency had no such plans, which upset senior CDC scientists. Dr. Peter Hotez, dean of the National School of Tropical Medicine at Baylor College of Medicine, suggested that Health and Human Services Secretary Xavier Becerra should help resolve the conflicts. Becerra recently defended Walensky in a CNN interview, highlighting her medical license and public health degree." She is not in possession of a marketing degree. | 4 |
A UN summit is currently discussing a proposal to limit global warming to a maximum of 2 degrees Celsius, supported by a new fund of $100 billion annually to assist developing countries. The draft text, prepared just hours before world leaders gathered, emphasizes the need for significant reductions in global emissions. Rich nations are expected to make commitments to cut greenhouse gas emissions by 2020. The latest draft closely resembles a previous version from the night before, with a focus on the scientific consensus that global temperatures should not exceed 2 degrees. It calls for immediate and enhanced national action, along with strengthened international cooperation. Many of the world's largest economies have already committed to limiting the rise in global temperatures to 2 degrees Celsius above pre-industrial levels, which is considered a critical threshold to prevent dangerous consequences such as increased flooding, heatwaves, droughts, and sea level rise. Additionally, these countries have pledged to collectively mobilize $100 billion by 2020 to address the climate change needs of developing nations, with funds coming from a variety of sources. This commitment is in line with U.S. Secretary of State Hillary Clinton's remarks at the Copenhagen meeting. Furthermore, there is a plan to provide $10 billion annually in quick start funds for developing countries from 2010 to 2012, with the goal of reaching $100 billion by 2020. The text mentioned that developing countries are willing to accept some monitoring of their promised emissions reductions, which would involve reporting back to the UN Climate Change Secretariat every two years. The United States is pushing for international verification to be included in any agreement. Negotiations on complete legal documents for one or more new climate treaties must be concluded by the end of 2010, according to the draft. The text specified that the agreement would not have legal force. It also stated that countries would continue discussions in order to adopt one or more legal instruments as soon as possible, with a deadline of no later than COP 16, the next UN meeting scheduled for November 2010 in Mexico. Numerous developing countries are advocating for two agreements: an extension of the Kyoto Protocol, which currently requires wealthy nations to reduce emissions until 2012, and a new pact outlining steps for poorer nations. On the other hand, developed countries favor a single treaty. The overall document was referred to as "Copenhagen X," showcasing differing opinions on its name. An environmental activist criticized the agreement, labeling it the "Copenhagen catastrophe" due to its perceived lack of strength. | 4 |
An agreement reached in Copenhagen next month on a new strategy to combat climate change is expected to encourage long-term investors to invest in companies that are better prepared to handle an anticipated increase in the cost of carbon emissions. Financial experts believe that a strong political agreement, which includes specific targets for reducing emissions, at the upcoming summit from Dec 7-18 could prompt investors like pension funds or sovereign wealth funds to adjust their portfolios to reflect the long-term risks associated with climate change. This could lead to increased growth for companies that are self-sufficient in energy or involved in renewable energy sources like wind or solar power, while putting pressure on industries that are heavy polluters such as utilities, aluminum producers, or automobile manufacturers. A more concrete agreement, like a legally binding target to reduce emissions, may prompt investment funds to begin adjusting their asset allocation now in order to protect their portfolios from the potential impact on companies affected by rising emission costs. In essence, this agreement would be a global treaty aimed at controlling pollution. Bruce Jenkyn-Jones, managing director of listed equities at Impax Asset Management, stated that by intervening in the economy to control and internalise the cost of carbon, the idea that people will pay for carbon throughout the economy will have a significant impact on products and services, particularly affecting big energy producers, utilities, and industrials. Impax manages 50 million pounds in global equities for the UK Environmental Agency's Active Pension Fund, and the strength of a Copenhagen deal remains uncertain. During a preliminary UN meeting in Barcelona, developed countries tempered hopes for reaching a legally binding agreement, suggesting it could take another 6-12 months. However, developing nations are wary of rich countries reneging on their commitments to combat climate change and are pushing for a legally binding deal in December. Despite politicians lowering expectations, there is still a significant opportunity for progress. Simon Webber, a fund manager at Schroders, stated that decisions made in Copenhagen will have a significant impact on the growth rates of companies that investors are involved in. He believes that industries such as power generation, utilities, and transport will be immediately affected by a concrete deal. For example, some utilities like Germany's RWE might face higher carbon costs, which could amount to nearly a third of their operating profits in the coming years. Webber also pointed out that Warren Buffett's $26 billion deal to acquire railway firm Burlington Northern Santa Fe in November demonstrates the long-term viability of railways. He mentioned that an aggressive deal could lead to a surge in growth rates for nuclear power and solar energy in these sectors, as well as a major shift from combustion engine cars to electric vehicles. Malcolm Gray, a portfolio manager at Investec Asset Management, stated that meeting tough initial targets is unavoidable. He believes that industries like sugar, which are energy self-sufficient, will be better equipped to handle emission reductions and will attract investments. However, utilities in the traditional thermal sector and non-diversified aluminium producers are at risk of exposure. As the cost of production increases due to high carbon prices, consumers with limited disposable income and certain retail businesses may suffer. Gray warns that the world is currently facing higher embedded inflation than is commonly understood. He mentioned that there is a possibility of facing a more aggressive inflation cycle globally compared to the current deflating world. The outcome of the Copenhagen talks could help investors mitigate risks in their portfolios by predicting the rise in the cost of carbon emissions and investing in industries that benefit from alternative energy. Sovereign funds like Norway's oil fund are becoming more active in environmental investing, while private sector involvement has been slow. The fund is investing over $3 billion in firms involved in environmental technologies and is pressuring companies to address climate change more effectively. Martin Skancke, director general of Norway's Ministry of Finance Asset Management Department, emphasized the importance of promoting good corporate behavior to achieve long-term investment goals in an interview with Reuters. Rabobank also recognizes the significance of considering carbon emissions as a risk factor in granting credit facilities, with head of corporate social responsibility Ruud Nijs noting that addressing risks and seizing opportunities will be priorities moving forward. Nijs also suggested that taxing the costs of climate change could lead to a different approach to evaluating credit portfolios. If a customer is now responsible for covering the cost of climate-related issues, their risk factor will significantly increase. The bank has made investments in renewable energy totaling over 4 billion euros, with all credit investments in clean technology over the past 18 months. It is the sole debt provider for the Belfuture solar project, valued at hundreds of millions of euros, and has provided project financing for the Belwind offshore wind farm project totaling 620 million euros. "Copenhagen provides us with a more favorable business environment." Nijs said that significant cleantech deals, investments in solar, wind, and biomass technologies will be automatically generated by the positive outcome. The pipeline will also see an increase. | 4 |
Heckling has always been a challenge for Trudeau, but this time the criticisms have more impact. After six years in office, the prime minister, who once portrayed himself as a fresh face with "sunny ways," is now part of the political establishment, with a record of achievements and mistakes for opponents to attack. Despite predictions that the Liberal Party will retain control of Parliament, this tough election campaign has not been beneficial for him. Ben Chin, the prime minister's top adviser, acknowledged that no politician could maintain Trudeau's initial popularity over such a long period in power. According to Chin, the longer a leader is in office, the more criticism they will face. During his time in office, Trudeau has faced criticism for making tough decisions that not everyone agrees with, with opposition party leaders accusing him of prioritizing personal and political interests over the nation's well-being. This criticism has been fueled by various controversies, including a charity contract involving his family and breaking ethics laws by influencing a minister to help a Quebec company. Trudeau's opponents highlight unfulfilled promises and anti-vax protesters have disrupted his events, with some promoting the far-right People's Party of Canada. Security measures have been increased at his rallies due to safety concerns, such as one rally being shut down in Ontario and Trudeau being pelted with gravel at another event in the same province. A member of the People's Party was charged with assault using a weapon in that incident. Trudeau has achieved various accomplishments since 2015, including implementing carbon pricing and other climate initiatives, legalizing cannabis, increasing funding for Indigenous matters, and banning 1,500 models of military-style rifles. A new initiative will offer daycare for $10 per child per day. Despite a decline in popularity, Trudeau continues to maintain his celebrity status. When he visited an outdoor terrace at a café in Port Coquitlam, an eastern suburb of Vancouver, for elbow bumps, quick chats, and selfies with voters, a crowd quickly gathered. Joy Silver, a 76-year-old retired schoolteacher from nearby Coquitlam, expressed her love for Trudeau. However, as Election Day approaches, many Canadians are questioning why Trudeau is calling for a vote now, two years ahead of schedule, amidst rising COVID-19 infections from the delta variant. This has put strain on hospitals and led to the reinstatement of pandemic restrictions in some provinces. Criticism has also been directed at Trudeau for calling the vote on the same weekend that Afghanistan fell to the Taliban, when Canadian troops were struggling to evacuate Canadians and Afghans who had supported their forces. Gerald Butts, a close friend of Trudeau's and former top political adviser, noted that the campaign has struggled to address this question. Trudeau is facing challenges in getting his message across, as he aims to secure a majority in the House of Commons in order to address the ongoing pandemic and recovery efforts. The Liberal Party strategically chose to capitalize on Canadians' positive views of Trudeau's handling of pandemic issues, such as income supports and vaccine procurement. Despite being in a close race with the Conservative Party, Trudeau emphasized the Liberals' experience, team, and commitment to ending the pandemic at a rally in Surrey. Political scientists suggest that Trudeau's popularity and celebrity status may be hindering his campaign efforts. She mentioned that the NDP and Conservatives have been emphasizing that it is a power grab and all about him, and this message has resonated with voters. Some scandals during Trudeau's time in office have also benefited the opposition. For example, in 2019, his veterans affairs minister, an Indigenous woman, resigned amid allegations that he and his staff had pressured her to make a deal benefiting a Canadian corporation. Despite Trudeau's support for diversity, it was revealed during the 2019 election that he had worn blackface or brownface multiple times in the past. Additionally, last year a charity linked to his family received a no-bid contract to administer a COVID-19 financial aid program for students. The group retreated, the program was called off, and Trudeau was given the all clear by the federal ethics and conflict of interest commissioner. His critics have also pointed out areas where they believe he has not delivered on his promises, such as implementing a national prescription drug plan, reforming Canada's electoral system, reducing the national debt, and addressing issues of sexual harassment in the military and solitary confinement in federal prisons. A study conducted by the Centre for Public Policy Analysis at Laval University in Quebec City revealed that Trudeau has fully fulfilled approximately 45% of his commitments, with 27% being partially fulfilled. Singh has been highlighting Trudeau's pledge to provide clean drinking water to all Indigenous communities, noting that there were 105 boil-water advisories in place for First Nations when Trudeau assumed office, with more added since then. The government has provided clean water to 109 communities, but there are still 52 boil-water orders in place. Singh believes that while Mr. Trudeau may care, he has not always followed through with real action. O'Toole, on the other hand, has characterized the election as a way for Trudeau to boost his own ego. He was focused on his own interests when he decided to call this costly and unnecessary election during a pandemic. Security and privacy measures have been increased at Trudeau's campaign events following disruptions by protesters upset about COVID-19 vaccination requirements. At a rally in Surrey, Trudeau gave a spirited speech to a mostly South Asian crowd, with increased security measures in place such as invitation-only attendance and no public promotion of the event. Police snipers on the roof monitored the scene for safety. Trudeau was questioned about whether the protests were inspired by US politics after a rally in Ontario was canceled. He responded indirectly, expressing concern about the path of anger, division, and intolerance. Trudeau mentioned never encountering such intense anger during his campaign in Canada. While it is difficult to accurately predict the number of seats each party will hold in the next House of Commons based on wider poll results, current polling indicates that Trudeau may have lost support due to calling an early election and facing abuse during campaigning without any political benefits. The Liberals are expected to maintain power, but may not achieve the majority they were aiming for. According to Butts, if this happens, it will be ironic as the situation will be similar to before. | 4 |
Speakers at a seminar have stated that climate change is a result of worldwide corruption, with the most severely affected being the least developed countries such as Bangladesh. They emphasized that the industrialized nations bear significant responsibility for the rapid climate change that is causing harm to these countries. | 4 |
The meeting in downtown Omaha, Nebraska was Berkshire's first opportunity to welcome shareholders since 2019, before the disruption caused by COVID-19. Shareholders were able to ask five hours of questions directly to Buffett, Vice Chairman Charlie Munger, Vice Chairmen Greg Abel, and Ajit Jain. Berkshire, previously criticized for holding too much cash, significantly increased its stakes in oil company Chevron Corp and "Call of Duty" game maker Activision Blizzard Inc to over $31 billion. Despite facing supply chain disruptions from COVID-19 variants, the Ukraine invasion, and inflation, Berkshire reported little change in first-quarter operating profit at $7.04 billion. Buffett expressed his satisfaction at addressing shareholders in person after hosting the last two meetings without them. Attendees at the event included JPMorgan Chase & Co Chief Executive Jamie Dimon and actor Bill Murray. In his annual shareholder letter in February, Warren Buffett expressed frustration over the lack of investment opportunities. However, in March, Berkshire Hathaway purchased 14.6% of Occidental Petroleum Corp and agreed to buy insurer Alleghany Corp for $11.6 billion. When asked about the sudden change in investment strategy, Buffett explained that he decided to invest in Occidental after reading an analyst report and in Alleghany after receiving a letter from its chief executive, who had previously worked at Berkshire's General Re business. Buffett noted that opportunities occasionally arise in the market for Berkshire to take advantage of. "We are not intelligent, but I believe we are rational," Berkshire invested $51 billion in stocks in the quarter, and its cash reserves dropped by over $40 billion to $106 billion. However, the company has various sources of generating cash, such as its insurance business, and Buffett reassured that reserves will not be depleted. "We will always have a significant amount of cash," he stated. "It's like oxygen, it's always there, but if it disappears for a few minutes, it's all over." When questioned about the possibility of the Ukraine conflict escalating into nuclear war, Buffett and Jain struggled to provide a definite answer. Jain, who has been praised by Buffett for many years, admitted to having difficulty estimating Berkshire's insurance exposure. Buffett mentioned that the risk of a nuclear attack was extremely low, despite the close call during the Cuban Missile Crisis in 1962. Buffett described the world as constantly taking a chance with each passing day. "Berkshire cannot provide a solution." Buffett also criticized stock markets, comparing them to a casino or gambling partner, especially in recent years due to encouragement from Wall Street. Munger, aged 98, echoed Nancy Reagan's advice on bitcoin, warning against putting retirement funds into it. He also criticized trading firm Robinhood Markets Inc. He and Buffett enjoyed their usual candies from See's, a company owned by Berkshire, and drank Coca-Cola during the meeting. Abel defended Berkshire's BNSF railroad, stating that more improvements were needed to compete with Union Pacific Corp. Buffett reassured shareholders that Berkshire is designed to outlive him and Munger. Shareholders rejected proposals for more disclosure on diversity and climate risks, and to replace Buffett as chairman with an independent chairman. Buffett has led Berkshire since 1965, and prominent investor Mario Gabelli opposed ending his chairmanship. He stated that it is acceptable for companies to consider splitting the roles of chair and CEO, however, he does not think it is necessary for Berkshire Hathaway as the current CEO has been very successful for the past 50 years. Despite lower projected attendance compared to 2019, thousands of people gathered outside the arena before it opened at 7 am. Around 10% to 15% of seats in the usually full arena were empty. Just like at other events sponsored by Berkshire this weekend, most attendees did not wear masks, but all had to show proof of COVID-19 vaccination. The meeting was webcasted by CNBC.com. Tom Spain, founder of Henry Spain Investment Services in Market Harborough, England, arrived at 3:15 a.m. for his third meeting and mentioned buying a chair from Walmart so he could sit down. He also joked about bringing a large container of coffee to share next year. Lauritz Fenselau, a 23-year-old entrepreneur from Frankfurt, Germany, arrived at his first meeting at 4 a.m., comparing it to a pilgrimage. Andres Avila, who had traveled from Boston to Omaha and had only been there for five hours before lining up at 4:45 a.m., was also sleep-deprived and carried an umbrella to shield himself from the rain. He expressed excitement at being surrounded by his idols. | 4 |
The promises made by governments to reduce greenhouse gas emissions are insufficient to prevent a temperature increase exceeding 2 degrees Celsius, which is considered a critical threshold for severe heat waves, heavy rainfall, and rising sea levels. A report by organizations such as Christian Aid, Oxfam, the International Trade Union Confederation, and WWF International stated that the major developed countries' efforts do not meet their fair share of the responsibility. This report coincides with the beginning of discussions among nearly 200 nations in Bonn, Germany, to finalize an agreement in December in Paris to address climate change after 2020. While around 150 nations have submitted their plans to combat climate change as part of the Paris agreement, there is no established method to compare the level of ambition of each nation. According to Monday's report, wealthy countries have the financial means to transition from fossil fuels to cleaner energy sources, and they have a greater responsibility to do so since they have benefited from using coal, oil, and natural gas since the Industrial Revolution. The report estimated that the United States and the European Union have pledged around 20% of their "fair shares," while Japan has promised about 10%. In contrast, emerging economies are meeting or surpassing their fair share commitments, with China and Brazil leading the way. Brandon Wu of ActionAid criticized wealthy countries for not bringing enough emission reductions and financial support to the negotiating table. Tasneem Essop from WWF International suggested that Paris should establish mechanisms that allow actions to become stronger over time through regular science and equity reviews. Both Beijing and Washington, the top emitters, claim that their plans are ambitious. China aims to reach peak greenhouse gas emissions around 2030, while the United States plans to reduce greenhouse emissions by 26-28 percent by 2025 compared to 2005 levels. The report released on Monday indicated that if current trends continue, temperatures are projected to increase by 3 degrees C (5.4F) or more above pre-industrial levels by 2100, significantly surpassing the agreed maximum of 2C. | 4 |
James Cameron, vice-chairman of Climate Change Capital in London, stated that despite the financial crisis, the world still has the resources and ability to combat climate change. He emphasized the importance of not allowing governments to use the current economic situation as an excuse to delay implementing policies to address global warming. Cameron highlighted the recent mobilization of trillions of dollars as evidence of the international community's capacity for cooperation in addressing global crises. He warned against the potential risk of governments prioritizing short-term issues over long-term challenges like climate change, but expressed confidence in the ability to work together across borders to quickly mobilize capital to support market systems. He suggested that if governments were to combine their ability to cooperate with a sense of urgency in addressing climate change, both crises could be addressed simultaneously. Despite concerns about the financial crisis depleting public capital reserves, Cameron, a prominent investor in clean-energy projects, argued that focusing solely on short-term economic costs was unwise. He emphasized the importance of investing in solutions to climate change, despite the current economic challenges. Climate Change Capital manages over $1.6 billion in funds and specializes in companies and institutions impacted by policy and capital market reactions to climate change, according to information provided on its website. | 4 |
The sixth yearly report on the Low Carbon Economy Index by professional services firm PwC examined the advancement of major developed and emerging economies in decreasing their carbon intensity, or emissions per unit of gross domestic product. Jonathan Grant of PwC stated that the disparity between current achievements and necessary actions is getting larger each year. He noted that governments are becoming more disconnected from reality in their efforts to reach the 2 degree goal, as current pledges are only leading us towards a 3 degree increase, far from what governments are aiming for. Almost 200 countries have agreed at United Nations climate talks to limit the increase in global temperatures to less than 2 degrees Celsius (3.6 Fahrenheit) above pre-industrial levels in order to prevent heat waves, floods, storms, and rising sea levels caused by climate change. Currently, temperatures have already risen by approximately 0.85 degrees Celsius. A study suggests that in order to achieve this goal, carbon intensity will need to be reduced by 6.2 percent annually, in comparison to the 1.2 percent reduction rate seen from 2012 to 2013. The study also states that achieving the 6.2 percent annual reduction would require changes of a much greater scale than recent shifts in energy production in certain countries. France transitioned to nuclear power in the 1980s, resulting in a 4 percent reduction in emissions. Britain's focus on gas in the 1990s led to a 3 percent decrease, and the United States saw a 3.5 percent cut due to the shale gas boom in 2012. PwC noted a positive development in emerging economies like China, India, and Mexico reducing their carbon intensity at a faster rate than industrialized countries. Australia had the highest rate of decarbonization for the second consecutive year, with a 7.2 percent reduction in carbon intensity in 2013. Despite being a significant coal producer, Australia's efforts to reduce emissions have slowed since the repeal of a tax on emissions in July. Britain, Italy, and China all saw a decarbonization rate of 4-5 percent, whereas France, the United States, India, Germany, and Brazil experienced an increase in carbon intensity. | 4 |
World leaders have been addressing the UN climate conference in Copenhagen as it approaches its conclusion. The Danish hosts of the summit have tried to manage expectations of a complete agreement, while some leaders remain hopeful. French President Nicolas Sarkozy stated, "People want to keep [the Kyoto protocol], okay, let's keep Kyoto." Let's come to a consensus on a political framework. We are running out of time, so let's stop pretending. A breakdown in Copenhagen would be disastrous for all of us. We need to step up our efforts in this conference or we will face a disaster. We have less than 24 hours left. If we continue in this manner, it will result in failure. Our goal is not to simply host a conference on global warming, but to actually make important decisions. UK Prime Minister Gordon Brown emphasized the significance of the decisions made in Copenhagen, urging against prioritizing self-interest over policies that ensure human survival. US Secretary of State Hillary Clinton expressed concerns about the lack of transparency from China, one of the world's largest emitters. There needs to be a readiness to embrace transparency in whatever setting we decide is suitable. Without a dedication to promoting transparency, it is a major obstacle for us. Israeli President Shimon Peres urges all neighboring countries, including those without diplomatic relations, to work together to protect the region. Political differences should not prevent cooperation on environmental issues, as carbon molecules do not have nationalities. Rivers do not need a visa, but pollution can spread through them. People of all religions hope for the Jordan River to remain pure and sacred. I am echoing the Bible's call to Adam to care for and protect the Garden of Eden. Iranian President Mahmoud Ahmadinejad has strong opinions on the reasons behind environmental destruction and has proposed solutions to address this issue at the summit. I hope that those most responsible for environmental destruction will agree to international commitments and work with us to establish a fair framework, reducing harm and supporting programs to mitigate its effects. All nations should have access to new technologies for clean and renewable energy sources like wind, solar, tidal, geothermal, and nuclear power. Chinese Climate Change Ambassador Yu Qingtai emphasizes the importance of success in Copenhagen, stating that China is not interested in blaming other countries for any potential failures, but rather in finding solutions and moving forward constructively. INDIAN ENVIRONMENT MINISTER JAIRAM RAMESH believes that the main obstacle is the eagerness of some parties to unilaterally abandon agreements, leading to a lack of trust and a blame game. EMANUEL MORI, PRESIDENT OF MICRONESIA, appeals for help in protecting his people and other small island nations, urging cooperation to save the planet for future generations. JAPANESE ENVIRONMENT MINISTER SAKIHITO OZAWA questions whether developing nations will accept an agreement without the participation of the US, China, and other countries. Currently, these nations are presenting the biggest challenge. Venezuelan President Hugo Chavez has observed slogans in the streets, one of which reads "don't change the climate, change the system." He believes this sentiment should be embraced, suggesting that instead of altering the climate, we should focus on transforming the system. As a result, we will start to protect the planet. Capitalism is a harmful system that is leading to the destruction of life. Another famous saying is, "if the climate were a bank, it would have been saved by now," and I believe that to be true. If the climate were a large capitalist bank, it would have already been saved by you, the wealthy governments. - Marcus Stephen, President of Nuaru (South Pacific). Nuaru is a small island nation, only 21 sq km (8 sq miles) in size. How big of a portion of our island should we give up? We are stuck with the Pacific Ocean enclosing us completely. The sea levels are increasing and we have no other options. Let's stop pointing fingers and take responsibility. We must not disappoint the world or our children. We are present here and hold the responsibility for shaping the future of our world. Our voices at this moment must work towards turning this dream into a tangible reality. Australian Prime Minister Kevin Rudd expresses concerns about prioritizing appearance over substance and inaction over taking concrete steps. He emphasizes the importance of collective action, as without it, there will be limited opportunities for development due to the planet's inability to sustain it. I am concerned that this conference could lead to a failure in protecting the world's children. Each of us will be held accountable for our actions or inactions. South African President Jacob Zuma believes that the decisions made here are crucial for the survival of the global population and humanity as a whole. We must come together and make serious decisions to address this pressing issue. The most important thing is to prioritize taking action, rather than trying to gain advantage while others suffer, according to South Korean President Lee Myung-bak. It is universally acknowledged that reducing greenhouse gas emissions is necessary. The choices made today will impact not only ourselves but also future generations and the planet. Making a significant impact can only be achieved through collective action. Rather than insisting on others taking the first step, we should be willing to take the initiative ourselves. UGANDAN ENVIRONMENT MINISTER MARIA MUTAGAMBA expressed concern over the inability to follow normal procedures and the perceived sidelining of certain parties in the negotiation process. Despite these challenges, she remains hopeful that an agreement will be reached. NORWEGIAN PRIME MINISTER JENS STOLTENBERG emphasized the critical stage of the conference and urged all parties to take responsibility in reaching an agreement the following day. He stressed the importance of ambitious emissions targets and the principle of common but differentiated responsibilities, with wealthier nations bearing the main responsibilities. Every country must do their part, and Norway is committed to taking responsibility by reducing greenhouse gas emissions by 30% by 2020. If a strong global climate agreement is reached, we will strive to become carbon neutral by 2030. Prime Minister Edward Natapei of Vanuatu expressed concern for the people of Fiji, who are currently recovering from a devastating cyclone that caused extensive flooding and displaced thousands. This is just a small preview of what could potentially worsen if there is not a strong climate agreement in place. | 4 |
The head of the UN climate panel is optimistic that the climate talks in Bali will conclude on Friday with a specific schedule for implementing cuts in greenhouse gas emissions to combat the threat of dangerous global warming. Despite disagreements among the 190 nations involved, particularly with the United States, Japan, and Canada opposing numerical emission goals, Pachauri believes that a strong statement regarding emission reductions by 2020 and a clear timetable for deciding on these numbers would signify progress. He emphasized the importance of establishing firm targets for emissions goals by wealthy nations, possibly within six months of the Bali talks. Pachauri also highlighted the significance of specifying targets by 2020 in the agreement. This year, the UN panel attributed global warming to human activity and warned of more extreme weather events in the future. They urged for strong action to reduce greenhouse gas emissions by 2050, with specific reduction targets to be determined within the next six months. The Bali talks, taking place from December 3-14, are divided on the guidelines for formal negotiations to replace the Kyoto Protocol. The EU is pushing for a non-binding agreement at Bali to aim for a 25 to 40 percent reduction in emissions from industrial economies by 2020 compared to 1990 levels. The United States, Japan, and Canada are in disagreement, arguing that any proposed figures would influence the outcome. Pachauri, who is the chairman of the Intergovernmental Panel on Climate Change, chose not to address the U.S. opposition directly. Instead, he expressed hope that the negotiations would be able to resolve any differences. Pachauri stated that he believes the discussion of strict targets of 25 to 40 percent is a positive sign that they acknowledge the scientific evidence presented and the necessity of reducing greenhouse gas emissions. He emphasized the importance of reaching a resolution to avoid the serious impacts of climate change. | 4 |
Sri Lanka's captain Kumar Sangakkara has emphasized the importance of mental strength and fortitude for his team at the upcoming Twenty20 World Cup, especially in the wake of the Lahore attack earlier this year. Sangakkara acknowledged the lack of a 100 percent guarantee for safety, but stressed the need for his team to focus on playing cricket despite security concerns in the current world climate. He expressed satisfaction with the security measures in place so far, recognizing that all teams face potential threats. Six members of the Sri Lanka team, including Sangakkara, were injured when gunmen attacked their team bus on the way to the Gaddafi Stadium for the second test against Pakistan in March. The incident resulted in the deaths of six Pakistani policemen and the driver of the bus carrying the match officials. The Sri Lanka team is now in constant communication with a national police intelligence cell responsible for security during the upcoming World Cup in England, starting on Friday. Following the events in Lahore, security measures have been significantly increased. Steve Elworthy, the tournament director and former South Africa player, who held the same position during the 2007 World Twenty20 in South Africa, noted the heightened security measures in place. Elworthy told Reuters that the situation has changed, creating a different landscape than before. The incident highlighted the dangers faced by cricketers and officials, prompting a reevaluation of the security plan for the event. Tournament organizers and the ICC are confident they have taken all necessary measures to ensure the safety of players, including providing police convoys and dedicated security staff for each team. Elworthy cannot disclose the specific information regarding team security. John Evans, the former chief constable of Devon and Cornwall in south-west England, is in charge of the event's security and has also provided advice to the Football Association (FA) on security issues. Reg Dickason, the head of security for the England team, and the ICC's independent security consultants are also involved. Despite the heightened security measures, Sangakkara mentioned that his team has not been distracted from cricket. He stated that the tournament feels like any other and commended the organizers for keeping everything low-key. "We have the chance to solely focus on cricket, which is quite pleasant." | 5 |
Three years ago, a purchase was made in Exeter with the promise of turning his community into a major hub for Canada's legal pot industry, with high-paying jobs. However, before any of the 200 anticipated jobs were filled, it became clear that Canada was already producing more marijuana than needed. The 1-million-square-foot greenhouse sat empty for two years before being sold for one-third of its original price. Exeter's experience with the greenhouse reflects the larger Canadian story of high expectations followed by disappointment in the legal pot business. Analysts attribute the failed projections to Canada's tightly regulated distribution system, which restricts advertising and marketing. The slow opening of stores in certain provinces, especially Ontario, is contributing to the issue. Additionally, surveys have indicated that a significant number of Canadians are not interested in trying out a new habit. "We were excited about it," remarked Mayor George Finch while standing outside Exeter's historic Town Hall. "It seemed almost too good to be true, right? It's unfortunate." When Prime Minister Justin Trudeau's government legalized marijuana in 2018, the main intention was to address inequalities in the justice system rather than create a significant new industry. Despite this, investors viewed the situation differently, leading to a surge of investment in companies preparing to capitalize on the legalization. This "green rush" saw money flowing into businesses not only in Canada but also looking towards the expanding US market. Greenhouses that had been unused for years were renovated and sold at high prices, while new indoor growing facilities were established nationwide. Newspapers, which had been reducing their staff, hired journalists to cover the emerging marijuana industry. Similar to plastics in the movie "The Graduate," marijuana appeared to be on track to become Canada's next big industry. The investment frenzy mirrored the dot-com stock boom of the late 1990s, but ultimately ended in a similar crash. Despite a slight rebound due to increased legalization in the United States, with New York recently legalizing marijuana and voters in four states supporting legalization in November, a major marijuana stock index is still down approximately 70% from its highest point in 2018. Even 2 1/2 years after legalization, many marijuana producers in Canada continue to experience significant financial losses. A significant new rival is on the horizon; Mexico recently passed a law allowing recreational marijuana use. This could make it even tougher for Canada's cannabis producers. Kyle Murray, vice dean at the University of Alberta School of Business, predicts there will be a series of shakeouts in the industry. Canopy Growth, Canada's biggest producer, reported a loss of CA$1.2 billion in the first nine months of its current operating year, comparable to the dot-com boom and subsequent bust. There have been widespread job cuts in the industry, leading to mergers among large producers seeking strength through increased size. Numerous greenhouses across multiple provinces have permanently closed down. Analysts had anticipated that marijuana sales in Canada would follow a similar trend to the spike in liquor sales in the United States post-Prohibition, resulting in major investments in the marijuana industry. However, Brendan Kennedy, the CEO of Tilray, a significant grower in Nanaimo, British Columbia, which experienced a $272 million loss last year, stated that the industry in Canada has not progressed as quickly as expected. Kennedy faces a challenge when it comes to competing with the illicit market due to the strict regulations. Despite many leaders in Canada's marijuana industry facing losses and being replaced, Kennedy will continue to be a director after the merger between Tilray and Aphria. Initially, Ontario had planned to sell marijuana through government-owned liquor stores, but this was canceled by the new Conservative government, leaving only online sales through a provincial website. The province's plans have changed twice since then, resulting in a staggered introduction of privately owned shops. Despite a recent increase in licensing, Ontario has only approved 575 shops, compared to Alberta's 583 shops, even though Alberta has a population one-third the size of Ontario's. Although initial expectations for profits from marijuana were too high, Murray believes a successful business will eventually emerge, especially with the growing number of Ontario shops. Additionally, the fact that prices have become more competitive with street prices should also boost legal sales. Murray stated that the poor start does not necessarily indicate a bad market, as there were initially too many companies and too much money involved. He believes that eventually, some companies will become very successful and potentially become global leaders. A positive development has been seen in British Columbia, where sales in legal stores increased by 24% from June to October 2020, despite the province being previously known for its illegal marijuana industry. In Quebec, the government-owned cannabis store operator, Société Québécoise du Cannabis, initially faced a nearly CA$5 million loss in its first fiscal year but has since turned profitable. While some larger growers in Canada are looking to foreign markets, particularly for medical marijuana, as their next opportunity, many analysts are doubtful. Brent McKnight, a professor at McMaster University, suggests that Mexico's recent steps towards creating the world's largest legal market could spell trouble for marijuana growing in Canada. Trade agreements may prevent Canada from stopping imports from Mexico, and Mexico's lower labor costs and warmer climate could give it a competitive edge. He mentioned that this would definitely cause prices to go down for local growers, and there are concerns about the impact of large publicly traded companies dominating the industry as Canada's market consolidates. Even before legalization, nonprofit "compassion clubs" were selling marijuana to medicinal users. The current system's focus on profits has marginalized many individuals from minority communities from participating in the industry, according to Dr. Daniel Werb, a public health researcher in Toronto. Research has shown a lack of diversity in the leadership of legal suppliers. Sellers in Indigenous communities have also been uncertain about their legal status, as they are not typically targeted in police raids but also operate outside of the legal system. Some shops in Ontario's Indigenous communities have started to receive licenses. Werb expressed concerns about the lack of diversity and creativity in the cannabis industry, suggesting that there was a missed opportunity for a more inclusive and innovative approach. | 5 |
Ugandan police discovered an unexploded suicide belt and made several arrests following the deaths of 74 soccer fans in two bomb attacks during the World Cup final. Somali Islamists with ties to al Qaeda claimed responsibility for the attacks. Opposition in Uganda called for peacekeepers to be withdrawn from Somalia. The unexploded suicide belt was found in Kampala a day after the explosions at two bars filled with soccer fans. Arrests were made after the discovery of the belt in the Makindye area. He did not provide details on the number or origin of those arrested. Coordinated attacks resembling those carried out by al Qaeda and affiliated groups have been a common occurrence. The al Shabaab militants have issued threats of further attacks unless Uganda and Burundi remove their peacekeeping troops from AMISOM in Somalia. The FDC party in Uganda has called on President Museveni to withdraw troops from Somalia, stating that there is no peace to maintain and no strategic interest for Uganda in the country. FDC spokesman Wafula Oguttu told Reuters that they are sacrificing their children for no reason, as their goal is to remove troops once they come into power. AMISOM stated that the explosions would not impact their mission in Somalia, where they protect the presidential palace and secure Mogadishu's airport and port. The FBI is investigating the coordinated attacks, marking the first time al Shabaab has extended their violent quest for power beyond Somalia. Analysts warn that the group's threats should be taken seriously, as they have shown the capability and determination to carry out attacks internationally. Foreign direct investment has increased in the third largest economy in East Africa due to oil exploration near the border with the Democratic Republic of Congo. Analysts believe that a sustained bombing campaign could harm Uganda's investment climate, but a one-time attack is unlikely to deter major companies like Tullow Oil from investing. The United States is assisting with the investigation of an attack in which an American was killed, with three FBI agents on the ground collecting evidence and another team ready to deploy if needed. Opolot stated that there was no indication that the African Union summit, which is scheduled to be held in Uganda this month, would be called off in light of the recent bombings. | 5 |
Her dream is challenging, but if she achieves it, she will become the first Bangladeshi to conquer the seven summits of the world. This includes a total of 113,102 feet of climbing across seven continents, two of which are in extremely cold climates with no natural human presence. Historically, it has been men who have attempted or completed the seven summits, followed by women from the same country. Thus, Wasfia Nazreen would make history by achieving this feat. Bangladesh on Seven Summits is a project endorsed by the Liberation War Museum to commemorate 40 years of Bangladesh's Independence. The initiative honors the individuals who faced significant obstacles in the nation's birth through their determination. When questioned about financing, she mentioned to bdnews24.com that she had sold all the jewelry left by her mother. Wasfia also sold the property she inherited, providing the initial funding for the campaign. Mutual Trust Bank and Renata Limited sponsored Wasfia for her expedition to Elbrus. She is now urging other national companies to support her mission to place Bangladesh's flag on top of every continent. Wasfia has left her job to achieve this goal within the next year or more, and she is determined to see it through, even if it takes a decade. Her first step was to conquer Mount Elbrus, the highest peak in Europe, on July 3. Since February, the south side of the mountain, which is the usual path to the European summit, has been closed due to several terrorist attacks. As a result, her team had to change their climb to the North side, which is riskier and uncharted territory with more crevasses. On July 10, Wasfia and her team attempted their first summit push but encountered sudden weather changes including thunderstorms, strong winds, and poor visibility. Finally, on July 12, the team got within 300 meters of the summit. However, due to extreme weather conditions and a deadline to descend by mid-day, they had to retreat. She plans to return to Elbrus to finish the final 300 meters once the situation improves. Wasfia, speaking via satellite message from near the top of Europe, urged the youth of Bangladesh to continue moving the country forward in honor of the martyrs of 1971. She emphasized the need for Bangladesh to be acknowledged on the world stage for its beauty. Wasfia's next challenge will be Kilimanjaro in September as part of her Seven Summits plan. Located in the north-eastern region of Tanzania, Kilimanjaro is the tallest mountain on the African continent, standing at 19,341 feet. Wasfia has plans to climb Aconcagua in December, which is the highest peak in South America at 22,841 feet, situated in the Argentinian Andes. Denali, also known as Mount McKinley in Alaska, is the highest peak in North America at 20,320 feet, and is on Wasfia's list of mountains to conquer in June-July 2012. Wasfia considers Denali to be one of the toughest peaks to climb, with a summit success rate of only 18 percent and a high number of accidents and fatalities. In April-May 2012, Wasfia will attempt to reach the highest point in the world. If she is successful, she will become the third Bangladeshi to reach the summit of Mount Everest, known as Sagarmatha to the Nepalese and Chomolungma to the Tibetans. Located just 750 miles from the South Pole, Vinson Massif reaches a height of 16,066 feet in the extreme cold of Antarctica. In February 2012, Wasfia plans to place the Bangladeshi flag on its peak despite the sub-zero temperatures. Her final goal is to conquer Puncak Jaya, also known as the Carstensz Pyramid, which is situated in the western central highlands of Indonesia. Standing at 16,024 feet, Puncak Jaya is the tallest mountain in Oceania and the highest island peak in the world. Wasfia plans to visit the location in September-October 2012. She mentioned that the journey is perilous, with numerous obstacles to overcome before reaching the base-camp and requiring advanced technical skills to scale the challenging rock surface. Wasfia expressed her preference for Bangladeshi sponsors for her mountain climbing endeavors on all continents, emphasizing the importance of national pride in her achievements. She stated that she would only consider big foreign companies as a last resort for sponsorship. | 5 |
The protests started earlier this week with high school students jumping subway turnstiles to oppose the second fare hike this year. However, on Friday night, demonstrators escalated by setting fire to multiple subway stations, banks, buses, and the headquarters of Enel, the country’s largest electricity provider. Looters also targeted supermarkets, stores, and pharmacies. One student was reportedly killed by police and another injured by rubber bullets during the protests, which shook one of Latin America’s wealthiest and most orderly cities. President Piñera declared a state of emergency, restricting citizens’ movement and assembly rights and giving the army control over internal security. Piñera justified the measure as necessary to restore order after chaos caused by protesters, whom he labeled as "criminals." The fare increase announcement on October 6 sparked anger, coming at a time of rising living costs for poor and middle-class families with stagnant wages. Isabel Mora, an 82-year-old retiree receiving a monthly pension of around $62, expressed frustration at the unfairness of current circumstances, with rising costs of transportation, electricity, gas, and low salaries. President Piñera had promised to address the increasing transportation costs, but protests erupted as rush hour fares rose to approximately $1.20. Demonstrations escalated as people began entering subway stations without paying, leading to clashes with police who used tear gas and violence to detain protesters. The subway system halted operations on multiple lines and eventually had to completely shut down the entire network by nighttime, leaving hundreds, if not thousands, of people stranded on the streets. Many individuals were unable to board crowded buses and had to walk for hours to reach their homes. Government officials labeled the protestors as "organized vandals" and "criminals" and declared their intention to enforce a law allowing for stricter penalties for crimes. Residents in the capital expressed their discontent by banging pots and pans throughout the city on Friday night. During the looting of supermarkets and the setting up of barricades, it seemed that the police had withdrawn to their stations. The demonstrations took place as Chile gets ready to hold two significant international conferences: an APEC summit in mid-November and the UN Climate Change Conference in December. | 5 |
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