Three trends in the global financial market are converging to make sukuk, the Islamic financial instrument most similar to a conventional bond, a potentially viable form of finance for green investments: (1) banks are reluctant to finance infrastructure due to stricter capital requirements; (2) an increasing number of investors are interested in ‘environmentally sustainable investing’ (in other words, investing to promote activities seen as positive for the environment); and (3) the market for sukuk is growing significantly. While these three trends are distinct and not obviously related, taken together, they create a market opportunity for sukuk to be used as a tool to finance environmentally sustainable infrastructure projects.
The need for significant infrastructure spending is obvious in both developed and developing countries. From crumbling transportation infrastructure in the United States to inadequate power generation capacity in India, the evidence is clear that improving infrastructure is a global priority. At the same time, popular concern about climate change and the detrimental impact of increasing greenhouse gas emissions has also made improving infrastructure in an environmentally sustainable manner a priority.
The #EachDayISee photo contest wrapped up on February 13, having received more than 1,400 submissions. To say that the number and quality of the entries exceeded all our expectations would be an understatement. We asked you to share your view of the world, and the visual stories we received from every region were breathtaking. Beyond the photos themselves, most submissions included detailed captions that set the context and helped viewers understand the stories behind the photos.
Congratulations to every #EachDayISeeFinalist! Please check out the finalists using #EachDayISeeFinalist and vote for your favorites. Voting ends on March 9 at 9 am ET. @interior_girl0 @ginamardones @aliveinnyc @javierimedinac @dereknazley @ahmadmousa @roman_social @emfeltson @dickarruda @arlethzarate @suzannemariew @helpintl @nineteenfiftyone @sarafarid #EachDayISee #finalists #endpoverty #takeon
In courts across Europe, there is a common refrain: “we need more judges!” Your court has a backlog? Many hands will make light work. Your courts are out of touch? Let’s bring in some new blood.
Serbia, however, has the opposite problem. Serbia has too many judges. And the implications for system performance, service delivery, and justice reform are significant.
How many is too many?
But the natural resources needed to grow food are overstretched, and in many cases, severely depleted. Agriculture is also vulnerable to climate change and a changing climate could reduce crop yields by up to 25%. At the same time, agriculture is a big contributor to the climate problem, generating close to a quarter of greenhouse gas emissions. Without targeted interventions, that number could rise further, threatening the world’s food supplies.
By Stéphane Hallegatte, Mook Bangalore, and Francis Samson Nkoka
Malawi is no stranger to significant flooding. In January 2012, floods affected more than 10,000 people and caused US$3 million worth of damage to households and infrastructure. But this year’s floods are much larger in magnitude, even unprecedented.
Beginning in early January, heavy rains triggered significant flooding in the southern and eastern districts of the country. The districts which experienced the largest impacts include Nsanje and Chikwawa in the south and Phalombe and Zomba in the east. So far, the flooding has affected more than 600,000 people, displaced over 170,000, and damaged agricultural crops covering more than 60,000 hectares.
While aggregate numbers and economic cost indicate the seriousness of the event, it is critical to look at exactly who is affected in the country. We have found that the poorest are on the front line.
In many countries, courts offer to waive their fees to anyone who can demonstrate that they cannot afford them.
Whilst it is true that fee waivers will not overcome profound barriers to access to justice, they do provide an important safety net for the poor to access essential services. And by helping the poor to pursue their rights, the courts can help to level that unequal playing field that is the courtroom.
In Serbia, providing court fee waivers are particularly pertinent.
We were ready to probe the effect of male out-migration from rural areas in Guatemala on women’s role in farming. But when we approached surveyors, experts, policymakers, and municipal officials, they were, quite simply, puzzled.