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Finding the future: Building the case and supporting effective carbon pricing

Rachel Kyte's picture
City smog. Keith Bacongco/Flickr Creative Commons


Five months after the UN Climate Leadership Summit, with its unprecedented call to action for putting a price on carbon, low oil prices have provoked governments to look again at whether they have prices right and to consider how to exploit a golden opportunity to reset signals within their economies for lower-carbon growth.
 
Business leaders in closed-door and public sessions in Davos last month talked of the inevitability of effective prices on carbon and the need for an orderly transition to lower-carbon growth. There was a sense that business, not normally reticent when pointing out how policy can negatively affect operations, needs to use its voice to urge smart, early policy action on carbon pricing. The bottom line was that this price signal will be essential, if insufficient on its own, to steer economies closer to a pathway that can keep warming below 2 degrees Celsius.

The voices were CEOs, from all sectors of the economy and all regions of the world. They recognize the risks climate change poses to their supply chains and businesses.
 
Last week, we heard those arguments again as organizations that have come together since the summit into a Carbon Pricing Leadership Coalition (CPLC) met to assess progress and plan for 2015.

In Uncertain Economic Times, a Chance for Global Breakthroughs

Jim Yong Kim's picture
A shop in Sri Lanka is lighted by solar panels. © Dominic Sansoni/World Bank


​The global economy is growing, but a bout of New Year anxiety has taken hold, posing challenges to our global mission: boosting the prosperity of the bottom 40%, ending extreme poverty by 2030, and avoiding a climate meltdown.

A Year of Opportunity to Combat Climate Change — and Transform Economies

Jim Yong Kim's picture
A glacier in Chile. © Curt Carnemark/World Bank


​Scientists declared this past year as the warmest year on Earth since record-keeping began in 1880, and a series of scientific reports found glaciers melting and extreme weather events intensifying. There can be no doubt that this year world leaders must commit to transforming their economies to combat climate change.

Weekly Wire: The Global Forum

Roxanne Bauer's picture

These are some of the views and reports relevant to our readers that caught our attention this week.

#Davosproblems: The financial crisis isn‘t over, and the inequality crisis is just beginning
Quartz
The World Economic Forum’s annual meeting has kicked off in Davos, Switzerland under the banner of “The New Global Context.” Falling in the long shadow of the financial crisis, the WEF’s theme reflects as much hope as a creeping sense that economic turmoil is the new normal. Some seven years into the current crisis, the participants at Davos are acutely aware that the world economy still hasn’t recovered its past momentum.

The Power of Market Creation, How Innovation Can Spur Development
Foreign Affairs
Most explanations of economic growth focus on conditions or incentives at the global or national level. They correlate prosperity with factors such as geography, demography, natural resources, political development, national culture, or official policy choices. Other explanations operate at the industry level, trying to explain why some sectors prosper more than others. At the end of the day, however, it is not societies, governments, or industries that create jobs but companies and their leaders. It is entrepreneurs and businesses that choose to spend or not, invest or not, hire or not.

Davos: New Briefing on Global Wealth, Inequality and an Update of that 85 Richest = 3.5 Billion Poorest Killer Fact

Duncan Green's picture

This is Davos week, and over on the Oxfam Research team’s excellent new Mind the Gap blog, Deborah Hardoon has an update on the mind-boggling maths of global inequality. 

 
 



Wealth data from Credit Suisse, finds that the 99% have been getting less and less of the economic pie over the past few years as the 1% get more. By next year, if the 2010-2014 trend for the growing concentration of global wealth is to continue, the richest 1% of people in the world will have more wealth than the rest of the world put together.


Measurements of wealth capture financial assets (including money in the bank) as well as non financial assets such as property. It is not just inefficient to concentrate more and more wealth in the hands of a few, but also unjust. Just think of all the empty properties bought by wealthy people as investments rather than providing housing for those in need of a home. Think of the billionaire chugging out carbon emissions flying around in a private jet, whilst the poorest countries suffer most from the impacts of climate change and the poorest individuals living want for a decent bicycle to get to school or work.
 

The Global Education Imperative

At last month's Annual Meeting of the World Economic Forum in Davos, Switzerland, UN Secretary-General Ban Ki-moon shared the stage with Western Union President Hikmet Ersek, Nigerian Minister of Communication Technology Omobola Johnson, World Bank Group President Jim Yong Kim, UN Special Envoy for Global Education, Gordon Brown and Danish Prime Minister Helle Thorning-Schmidt, during an hour-long panel entitled, "The Global Education Imperative."

Secretary-General Ban Ki-moon called upon participants to strengthen efforts to achieve global targets related to education and health, stressing the importance of building a better future for all. He noted that progress in this critical field has stalled in recent years, which was the impetus for his recently launched Education First Initiative.

Weekly Wire: the Global Forum

Kalliope Kokolis's picture

These are some of the views and reports relevant to our readers that caught our attention this week.

Global Voices Advocacy
Netizen Report: Raise Your Voice Edition

“Internet activists in India are fuming over the country’s sweeping new Internet restrictions on objectionable content, and are beginning to take extreme action to combat the law. This week we recognize Aseem Trivedi and Alok Dixit from Save Your Voice, who have begun a hunger strike in protest of the ‘Information Technology (Intermediaries Guidelines) Rules 2011’ which were quietly issued by the Ministry of Communications and Information Technology in April 2011.

One of the flaws of the new rules is that they mandate that website or domain owners must take down material within 36 hours when a third party issues a complaint, without giving a chance for content owners to defend the material. The Bangalore-based advocacy group Centre for Internet & Society also pointed out that the rule leads to a general chilling effect on freedom of expression over the Internet.”  READ MORE

Davos 2012: Slippery Streets

Kevin Lu's picture

The World Economic Forum launched its seventh Global Risks report before this year’s annual meeting in Davos. The top risk this year, among the 50 most pressing risks based on a survey of 400 top business leaders, is income inequality and its associated economic and political risks. The report aptly summarized this risk as the “risk of dystopia.”

Weekly Wire: the Global Forum

Kalliope Kokolis's picture

These are some of the views and reports relevant to our readers that caught our attention this week.

By The People (America.gov)
Civil Society and Social Media

“The term “civil society” can seem almost as amorphous as the term “social media.”  Yet the two are becoming ever more powerfully linked to the promotion of democracy and human rights in the modern world.

Civil society can encompass any collection of nongovernmental activists, organizations, congregations, writers and/or reporters.  They bring a broad range of opinions to the marketplace of ideas and are considered critical to a vibrant, well-functioning democracy.  Secretary of State Hillary Rodham Clinton has described a free civil society as the third critical element to democracy – the other two being a representative government and a well-functioning market.”

What to Expect in Davos: Global Risk Landscape

Kevin Lu's picture

One of the four themes  in Davos this year is risk management. The World Economic Forum (WEF) issued a report titled Global Risks 2011 earlier this month. It provides a high-level overview of 37 selected global risks as seen by members of the WEF’s Global Agenda Councils and supported by a survey of 580 top leaders and decision-makers around the world.

Issues related to macroeconomic imbalances top the list.  These are a group of economic risks including currency volatility, fiscal crises and asset price collapse, which arise from the tension between the increasing wealth and influence of emerging economies and high levels of debt in advanced economies.

In addition, a number of risks are related to geopolitics. They include: corruption, geopolitical conflicts, global governance failures, illicit trade, organized crime, space security, terrorism, and weapons of mass destruction.


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