A column by Christian Stöcker The World Climate Conference begins in Dubai in just under three weeks. Will it become a farce? The conference president is an oil manager – and he has a suicidal plan for climate policy. Thanks to McKinsey. Here are a few news stories that didn’t get too much attention this...
Africa is estimated to lose about $30 billion or 15% of its Gross Domestic Products (GDP) annually to climate change effect by 2030, an international financial expert said on Thursday. “Africa is estimated to lose 5% to 15% of its projected GDP by 2050 with a projected climate adaptation cost of $10 billion to $30...
Last month, the European Council proclaimed itself as “the global leader in climate action”. The November 13 EU Foreign Ministers meeting with COP28 President Sultan Al-Jaber of the United Arab Emirates (UAE), where the global climate conference is set to begin later this month, is the first real test of that claim. In a letter to EU foreign ministers...
At the COP27 summit in Sharm El-Sheikh, Egypt, an agreement to establish a loss and damage fund was hailed as a major breakthrough on one of the trickiest topics in the UN climate change negotiations. In an otherwise frustrating conference, this decision in November 2022 acknowledged the help that poorer and low-emitting countries in particular need to deal...
The way many organised crime gangs launder their cash has become so hard to trace that following the money “gets you absolutely nowhere”, according to the UK’s National Crime Agency. When they are not using major high street banks as giant drug cash laundromats, organised crime groups such as drug traffickers are increasingly using international networks of...
The new sanctions announced by the UK Foreign Ministry target 29 individuals and companies operating in and supporting Russia’s gold, oil and strategic sectors. Britain sanctioned on Wednesday a network of companies based in the United Arab Emirates (UAE) that it accuses of being responsible for channeling more than $300 million in gold revenues to...
The world’s top management consultancy McKinsey & Company is using its position as a key advisor to the UN’s COP28 climate talks to push the interests of its big oil and gas clients, undermining efforts to end the use of the fossil fuels driving global warming, according to multiple sources and leaked documents. Behind closed...
From 30 November to 12 December 2023, all eyes will be on the United Arab Emirates (UAE). The host country of the 28th Conference of the Parties (COP28) on climate change also has the eleventh highest carbon footprint in the world, well ahead of Ghana (27th), for example. The reasons for this include an economy...
Last month was the hottest October on record globally, Europe’s climate monitor said Wednesday, as months of exceptional heat likely to make 2023 the warmest year in history. With temperatures soaring beyond previous averages by exceptional margins, scientists say the pressure on world leaders to curb planet-heating greenhouse gas pollution has never been more urgent as they...
The world’s fossil fuel producers are planning expansions that would blow the planet’s carbon budget twice over, a UN report has found. Experts called the plans “insanity” which “throw humanity’s future into question”. The energy plans of the petrostates contradicted their climate policies and pledges, the report said. The plans would lead to 460% more coal production,...