Climate change presents serious and growing risks to the global economic system, with a number of recent studies showing the impact that climate change is already having on livelihoods and business models. For example, extreme weather, which can be exacerbated by climate change, caused economic losses of US$2.6 trillion from 1980 to 2012.
Addressing these risks is an economic and societal imperative. At the same time, it presents opportunities. Climate-smart investments in efficient, clean infrastructure, clean energy, resilient agriculture, and water resources offer stable, attractive returns for investors and communities when the conditions are right.
This week, I was in Lima at the Peruvian government’s Climate Finance Week and found many reasons to be optimistic that we can turn the climate challenge into an economic opportunity. This blog post shares some key themes that I took away from the event.
The risks created by climate change are well known. Regardless of political views, when the majority of respected and leading science institutions say that climate change is happening, I believe that we have a problem.
From a young person’s perspective, I do not want to inherit a world that is torn apart by an issue that could have been minimized if we all took action. I don’t want a world that is destroyed by inaction and pointless bickering. If we continue to do nothing, or not enough, we will all be living in a world that could have been prevented. Inaction will tear our world apart.
On Sept. 1, leading football stars from multiple faiths will come together to play in a watershed Interreligious Match for Peace, supported by Connect4Climate of the World Bank Group.
At its best, sport possesses the power to bring out the best of the human spirit, particularly in moments when athletes display remarkable teamwork and sportsmanship. By affirming shared aspirations, religion and sport share the profound capacity to bring people together across the boundaries of race, nationality, income, and more.
The World Health Organization kicked off its global high-level conference on Health and Climate Change this week in Geneva. What makes this conference particularly significant is the fact that while the WHO has been working on this agenda for the past 20 years, this is the first time it has led a conference with so many decision-makers involved.
The compelling state of scientific evidence – as documented in a separate chapter of the Intergovernmental Panel on Climate Change’s Fifth Assessment report – has lent a certain urgency to the climate change agenda in the health community. The audience for this conference included around 300 senior level participants from various WHO member countries, mostly from the health sector, including a number of ministers.
A picture can tell a thousand words but the stunning photos we usually associate with the Pacific Islands often overlook the reality for many who live there. Faced with natural hazards such as cyclones, droughts and earthquakes alongside geographical remoteness and isolation, Pacific Island countries, which make up over a third of small island developing states (SIDS), are some of the most vulnerable nations in the world.
Already this year the Pacific region has been hit by two major disasters; Tropical Cyclone Ian in Tonga in January, followed by flash flooding in Solomon Islands in April. Both disasters had devastating impacts on the economy and livelihoods of local communities. Situated within the cyclone belt and Pacific Ring of Fire, earthquakes, tsunamis and cyclones are frequent. Around 41 tropical cyclones occur each year across the region as well as numerous earthquakes and floods.
From the melting snow of the Sochi 2014 Winter Olympics to the stifling heat of the Australian Open Tennis Championships in Melbourne, climate change is proving relentless.
So are we going to sit back and let it ravage our lives and love of sport? As a former member of the Polish National Olympic Team in cycling, I definitely hope not. Let’s unite the power of sport with the might of social media and face up to the world’s environmental enemy number one.
Fact – temperatures are rising
According to the World Bank, Earth could warm from its current global mean temperature of 0.8°C above pre-industrial levels to as high as 4°C by 2100.
What does that mean? More extreme heat waves, causing global health, socio-political and economic ramifications. The President of The World Bank is calling for action to hold warming below 2° C. The question is, what can we do?
An entry in a recent Action4Climate video competition, “Climate TV, City Climate” highlights some of the issues cities are facing and how green infrastructure solutions can help a city cope with increased heat and stormwater run-off.
Summer is almost over and the fall semester is about to begin for young economics students. But this semester could be the start of something much larger at University College London (UCL) and the University of Massachusetts in Boston.
These two schools are among the first to pilot a fundamentally new approach to the way economics is taught in higher education. Others including the University of Sydney, Sciences Po (Paris), and the University of Chile will follow in early 2015.
This new approach is based on the CORE project of the Institute for New Economic Thinking (INET) at the Oxford Martin School, part of a global call for an overhaul of the economics curriculum commonly taught to undergraduates. True to its name, the CORE project has developed a new, interactive core curriculum—all delivered through an online virtual learning environment, and completely open to the public.
I am standing on the shore of Bến Tre Province in the Mekong Delta in Vietnam. One of the first questions is, would I be able to stand here in a few months’ time?
If you look just a few hundred meters out to sea, that was cultivable land up to three years ago. In the last three years this village has lost half of its land. Sea incursion is just one of the complex challenges that the authorities and the people who live in the Mekong Delta have to juggle at the same time. So the Mekong Delta, the decisions that are made here are affected by the upstream decisions of hydroelectric planning, irrigation, and other freshwater use. By the time the water gets here, some of that freshwater which is needed is no longer available.