Tag Archives: Economy

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January 2016, International Institute for Sustainable Development (IISD): With the release of the Trans-Pacific Partnership Agreement (TPP) last fall, a debate has been growing over the so-called “trade” agreement among twelve Pacific Rim countries. Should governments ratify the deal? Will it expand trade in a significant way? Who will be the winners and losers? But defining winners and losers only in trade terms will miss the much broader impacts of the TPP and hide the broader basis required for assessing its real impacts. In Canada, where IISD is headquartered, Trade Minister Chrystia Freeland has initiated formal consultations on the TPP, promising it is open for full discussion. This is a welcome initiative. For IISD, this is a deal too far and its ratification should be rejected by the minister. In its place, there is a need to fundamentally re-consider the role that trade and investment agreements make to supporting inclusive and sustainable growth. This commentary summarizes IISD’s concerns with the TPP, and a follow up article will begin outlining solutions. Read More here

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24 January 2016, Climate Home, 8 climate change takeaways from Davos. As global elite gather at the World Economic Forum1, moving to counter climate change competes with economic fears. It is the first major meeting of politicians and business leaders since 195 nations struck a landmark deal to limit carbon emissions in Paris in December. Thousands of luminaries have come to a Swiss ski resort to unpack the opportunities and challenges of the future. ‘Mastering the Fourth Industrial Revolution’ is the theme meant to guide high-powered panel sessions. Among talk of robotics, 3D printing and nanotechnology, the Paris agreement should merit mention. It aims to radically shrink the usage of fossil fuels, which the world consumes for 87% of its energy. Innovation is crucial to neutralise carbon emissions in the next half-century. As the forum nears its end, here’s what we conclude. 1. Market turmoil dominates” A global selloff of stocks has crowded out much discussion of a new global warming pact at the World Economic Forum. Markets have plunged more than US$4 trillion in value since 1 January – the worst start in yearly trading since the 2009 financial crisis – on weak Chinese growth and low oil prices. Opinion is divided on the impact of cheap crude on climate plans. Benchmark prices of $30 a barrel are “very detrimental for any [clean energy] policy”, according to Total chief Patrick Pouyanne. But analysts Climate Home asked are not worried. 2. Climate action is the smaller conversation: A climate change-induced disaster was named the greatest threat to the global economy in 2016, in a WEF survey ahead of the event, but that wasn’t fully borne out in discussions. Cutting carbon is an “issue for mainstream business, but of course not everyone is paying attention,” says Paul Simpson at the Carbon Disclosure Project. Read More here

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14 January 2016, Yale Connections. Activist’s ‘Long-Haul’ Climate Campaign. A veteran reporter on climate issues provides a glimpse into a corporate responsibility activist’s efforts during the recent Paris climate conference. the Paris climate conference got under way last December, Jesse Bragg introduced himself to me on a crowded shuttle bus between the converted airplane hangers where negotiators were meeting. He’d read my ID badge and noticed that I was from Boston. He said that he worked at Corporate Accountability International’s headquarters in downtown Boston. We soon realized we live just miles apart. Each of the nearly 200 national delegations needed many staff members. The number of delegates registered from the US – including four cabinet secretaries and more than a dozen senators – filled four pages of the official roster.I’d never heard of Corporate Accountability International, nor of its mission – to make private corporations answerable to public institutions. But the encounter gave me the chance to satisfy a curiosity. With more than 30,000 visitors expected at the conference and sitting through nearly 3,000 meetings and drinking some 71,000 cups of coffee – what were they all doing? Even tiny Haiti, among the world’s poorest nations, listed 15 delegates. All told, governments had sent 19,200 representatives to Paris. Altogether, media organizations had dispatched nearly 2,800 journalists. I understood roughly why these people were there. But what about the 8,300 “observers,” including industry and nongovernmental organization representatives? Jesse was one of them, and I asked about his plans in the coming 10 days. We agreed to meet the following morning. Job description: Expose transnationals’ ‘abuses’. Read More here

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14 January 2016, The Guardian, Climate change disaster is biggest threat to global economy in 2016, say experts. Global warming heads top economists’ concerns for first time but large-scale forced migration seen as most likely risk to materialise. A catastrophe caused by climate change is seen as the biggest potential threat to the global economy in 2016, according to a survey of 750 experts conducted by the World Economic Forum. The annual assessment of risks conducted by the WEF before its annual meeting in Davos on 20-23 January showed that global warming had catapulted its way to the top of the list of concerns. A failure of climate change mitigation and adaptation was seen as likely to have a bigger impact than the spread of weapons of mass destruction, water crises, mass involuntary migration and a severe energy price shock – the first time in the 11 years of the Global Risks report that the environment has been in first place. The report, prepared by the WEF in collaboration with risk specialists Marsh & McLennan and Zurich Insurance Group, comes a month after the deal signed in Paris to reduce carbon emissions. The WEF said evidence was mounting that inter-connections between risks were becoming stronger. It cited links between climate change and involuntary migration or international security, noting that these often had “major and unpredictable impacts”. Espen Barth Eide, the WEF’s head of geopolitical affairs, said there was a risk of Europe fragmenting as a result of “people on the move”. Speaking at a press conference in London to launch the report, Eide said: “I am concerned about the continued support in national politics for keeping Europe together.” Read More here