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The Latest Breaking News from World Bank

Barbados spearheads push on climate disaster financing

As climate-amped disasters ratchet up the suffering, the staid international finace system designed for an earlier age may be on the brink of change, driven by those on the front lines

The Independent UK

COP27 roundup: how the world can stick to its carbon budget fairly

How much CO₂ can humanity emit before we push global temperatures 1.5°C above the pre-industrial average? That was the limit agreed in 2015 which scientists say offers us a reasonable chance of averting climate breakdown. The answer, according to a new assessment of the remaining carbon budget, is 380 billion…

The Conversation

COP27: Multi-lateral lenders have failed poorest over climate - Commonwealth head

The world's multi-lateral banks have "demonstrably failed" low and middle income countries when climate disasters hit and need to better assess their vulnerability and resilience when offering support, the head of the Commonwealth told Reuters.

Reuters

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Bankers bet billions on new wave of debt-for-nature deals

The Galapagos Islands, whose thousands of unique species inspired Darwin's theory of evolution, have incalculable ecological value. But what are they worth?

Reuters

Three essentials to cashing in on population growth

The benefits of a growing demographic are not guaranteed. Governments need to ensure the right tools are in place as well.

360info

Australia criticised for resisting Cop27 push to end international fossil fuel subsidies

Labor party’s environment wing says it’s ‘disappointing’ Albanese government has not joined partnership which would build consensus across OECD

The Guardian - AU

Australia signs up to offshore wind alliance, as Chris Bowen declares return to climate change table

Climate Change Minister Chris Bowen delivers Australia's national statement at COP27, declaring the country "is back" as a willing negotiator on climate action.

ABC News

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U.S. climate envoy Kerry wants development banks overhaul plan by April

U.S. climate envoy John Kerry said on Tuesday he wants to come up with a plan by April to reform the multilateral development banks system to unleash "hundreds of billions" of dollars to help vulnerable countries combat and adapt to climate change.

Reuters

Population growth slows in India as world reaches eight billion

India will still become the world’s most populous country next year, according to UN estimates.

Al Jazeera

Nationalism is the ideology of our age. No wonder the world is in crisis

Rishi Sunak and Joe Biden should be pushing for greater cooperation at the G20, says former UK prime minister Gordon Brown

The Guardian - UK

Climate-focused reform of World Bank could be done in a year, says Al Gore

Former US vice-president says bank should refocus its spending and end its role in ‘fossil fuel colonialism’

The Guardian - UK

Australian climate minister to target World Bank’s response to crisis in Cop27 speech

Australia is back as a ‘constructive collaborator’ in negotiations, Chris Bowen will tell summit, as he calls for more commitment from institutions

The Guardian - AU

4 signs of progress at the UN climate change summit

Something significant is happening in the desert in Egypt as countries meet at COP27, the United Nations summit on climate change.

The Conversation

US to Reevaluate Ties with Libyan Sides Hindering Political Solution

The US Special Envoy and Ambassador to Libya Richard Norland concluded his visit to the Libyan capital Tripoli, threatening sanctions against parties who obstruct the progress of a political process in Libya. In a clear threat after a series of meetings with government officials, international partners, and the donor community,…

Asharq Al-Awsat

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The Guardian - UK

Cop27 first week roundup: powerful dispatches, muted protest, little cash

Despite ‘loss and damage’ focus there have been more oil and gas lobbyists than delegates from the most vulnerable countries

The Guardian - UK

Herman Daly obituary

Pioneering ecological economist who foresaw the catastrophic effects of unlimited economic growth

The Conversation

Albania's ghost towns: the crisis that caused the exodus

Albania has a population of 2.8 million people, according to data published at the start of 2021. Since the fall of communism in 1991 nearly 40% of Albania’s population has left the country.

StockNews.com

2 Resilient Stocks to Buy and Hold Through a Recession

The World Bank has warned about a global recession next year. Moreover, although the October inflation report shows signs of cooling price pressures, inflation is still far from the Fed’s target level. Hence, we believe fundamentally solid dividend-paying stocks Johnson & Johnson (JNJ) and McDonald’s Corporation (MCD) could be ideal…

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Reuters

World Bank tells rich countries, give us more cash for climate

The World Bank is ready to step up financing of action to tackle climate change in the world's poorest countries, but needs fresh funds from wealthy donor countries to do so, its managing director of operations told Reuters.

Newsroom.co.nz

Finance a COP sticking point

The third day of the COP summit in Egypt saw signs of movement on climate finance and the resurrection of a controversy about the views of the World Bank president.

WEKU

Investors have trillions to fight climate change. Developing nations get little of it

Private investment is crucial to addressing climate change. But a big barrier to private investment in developing countries is the perception that risks are higher than in industrialized nations.

The Guardian - UK

How likely is progress on climate at Cop27?

Potential outcomes on 1.5C, climate finance, adaptation funding, loss and damage, World Bank reform and African gas

ABC News

Nigeria, Pakistan, Philippines and Australia. What can we learn from the world's devastating floods?

Extreme weather is drowning many parts of the world with countries lacking the resilience and funding to cope with the devastating downpours. What can we learn from these global floods and what solutions are on the table at COP27?

The Guardian - UK

Developing countries ‘will need $2tn a year in climate funding by 2030’

Report co-written by Nicholas Stern says figure required to switch away from fossil fuels and cope with extreme weather impacts

The Guardian - UK

Money talks: why climate finance at Cop27 is key to beating global heating

Funding urgently needed to cope with climate disasters – and to prevent distrust crashing UN negotiations

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