ESG and Of Interest News
IMF Promoting Gender Equality and Tackling Demographic Challenges
June 11, 2024--Summary:
Two broad contrasting demographic trends present challenges for economies globally: countries with aging populations, often advanced economies and increasingly emerging markets, anticipate a significant shrinking of the labor force, with implications for growth, economic stability, and public finances.
Economies with rapidly growing populations, as is the case in many low-income and developing countries, will face a burgeoning young population entering the labor market in the next decades-a large potential to reap the demographic dividend if the right skills and economic and social conditions are in place.
This note highlights how gender equality, in both cases, can serve as a stabilizing factor to rebalance demographic trends. As decisions regarding fertility, human capital investment, and labor force participation are interlinked, policies should aim at relaxing households' time and resource constraints that condition these choices. This means that, in general, in advanced economies and emerging markets, policies should facilitate women's workâlife choices and boost female participation in the labor market, whereas policies in low-income and developing countries should focus on reforms that narrow gender gaps in opportunities and support human capital accumulation.
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Source: imf.org
New report states 7-9 billion tonnes of CO2 must be sustainably removed per year to hit climate targets
June 5, 2024--The 2024 State of Carbon Dioxide Removal report co-led by researchers at the University of Oxford finds that around 7-9 billion tonnes of CO2 per year will need to be removed by mid-century from the atmosphere if the world is to meet the 1.5 °C Paris Agreement target.
The authors stress that reducing emissions is the primary way to achieve net-zero, but Carbon Dioxide Removal (CDR) has a critical role to play.
The authors incorporated sustainability criteria including multiple Sustainable Development Goals into their analysis, and their final figure for a "Paris-consistent" range of CDR was assessed based on these.
Currently just 2 billion tons per year are being removed by CDR, mostly through conventional methods like tree planting. Novel CDR methods= like biochar, enhanced rock weathering, direct air carbon capture and storage (DACCS) and bioenergy with carbon capture and storage (BECCS)- contribute 1.3 million tonnes per year, less than 0.1% of the total. Methods which are effectively permanent account for only 0.6 million tonnes per year- less than 0.05% of the total. .
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Source: ox.ac.uk
Africa: Climate Change May Be Fuelling a Resurgence of Piracy Across Africa
May 24, 2024--In the churning waters off Nigeria, armed pirates in small skiffs speed towards a cargo ship. They clamber aboard, seizing control of the vessel and its valuable cargo. This isn't a scene from a swashbuckling film; it's a stark reality for seafarers in many parts of the world.
Piracy poses a threat to global shipping, trade and the safety of seafarers.
In 2020 alone, there were 135 maritime kidnappings, with the Gulf of Guinea off the west African coast accounting for over 95% of abductions. Pirates often subject hostages to violence, torture and even execution.
What's more concerning is that climate change seems to be making the problem worse. In regions like east Africa, climate change is devastating the coastal fisheries that people have depended on for generations.
Climate change is causing fish stocks to decline as some species migrate out of the reach of local fishermen.
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Source: allafrica.com
Trade data reveal changing patterns in electric vehicles market
May 14, 2024--Electric vehicles (EVs) are radically transforming the transport sector, redefining the automotive market, and reshaping global trade in transport equipment. By the end of 2023, EVs accounted for more than a third of all car imports in value terms.
Recent years have seen a dramatic increase in sales of various types of EVs- including hybrid electric vehicles (HEV), plug-in hybrid electric vehicles (PHEV) and battery electric vehicles (BEV), but they were not separately considered in the trade statistics.
As a result, in 2017 the World Customs Organization implemented an amendment to the classification system for traded goods-the Harmonized System (HS) introduced new categories to differentiate between traditional internal combustion engine (ICE) vehicles and their electrified alternatives.
Prior to this, the HS classified passenger vehicles by the number of passengers they could carry and the type and size of their internal combustion engine.(1)
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Source: ECB.org
How to manage AI's energy demand-today, tomorrow and in the future
April 25, 2024--The computational power required for sustaining AI's rise is doubling roughly every 100 days.
It is imperative that we balance the progression of AI with the imperatives of sustainability.
There are steps we can take immediately -and foundations that we can lay today that will pay dividends in the future- to manage AI and the green transition.
In an era where society stands in awe of the swift progress in Artificial Intelligence (AI), the environmental footprint of these advancements often remains overlooked. The significant ecological impacts of AI demand attention and action.
For AI to fulfill its transformative potential, offering unprecedented levels of productivity and enhancing societal well-being, it must evolve sustainably.
Central to this dilemma is the AI ecosystem's heavy energy demand, encompassing everything from hardware to training protocols and operational techniques.
AI and energy demand
Remarkably, the computational power required for sustaining AI's rise is doubling roughly every 100 days. To achieve a tenfold improvement in AI model efficiency, the computational power demand could surge by up to 10,000 times. The energy required to run AI tasks is already accelerating with an annual growth rate between 26% and 36%. This means by 2028, AI could be using more power than the entire country of Iceland used in 2021.
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Source: weforum.org
New Data Show Massive, Wider-than-Expected Global Gender Gap
March 4, 2024---Women enjoy just two-thirds of the legal rights that men enjoy
The global gender gap for women in the workplace is far wider than previously thought, a groundbreaking new World Bank Group report shows. When legal differences involving violence and childcare are taken into account, women enjoy fewer than two-thirds the rights of men.
No country provides equal opportunity for women-not even the wealthiest economies.
The latest Women, Business, and the Law report offers a comprehensive picture of the obstacles that women face in entering the global workforce and contributing to greater prosperity-for themselves, their families, and their communities. It expands the scope of its analysis, adding two indicators that can be critical in opening up or restricting women's options: safety from violence and access to childcare services. When those measures are included, women on average enjoy just 64% of the legal protections that men do-far fewer than the previous estimate of 77%.
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Source: worldbank.org
CBO-Emissions of Greenhouse Gases in the Manufacturing Sector
February 28, 2024--CBO provides an overview of greenhouse gas emissions in the manufacturing sector, presents projections of future emissions, and explains how uncertainty about economic conditions, fuel prices, and technology affects those projections.
Summary
When producing goods, the manufacturing sector emits carbon dioxide and other greenhouse gases that cause global warming, both by burning fossil fuels and through certain industrial processes.
In this report, the Congressional Budget Office provides an overview of greenhouse gas emissions in the manufacturing sector, describes historical changes in the factors that determine those emissions, presents projections of future emissions, and explains key uncertainties surrounding those projections.
CBO estimates that the manufacturing sector was responsible for 12 percent of U.S. greenhouse gas emissions in 2021. About 75 percent of those emissions came from burning fuel to create heat, and the rest were by-products of industrial processes that transform materials into products.
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Source: CBO (Congressional Budget Office)
Landmark UN report: The world's migratory species of animals are in decline, and the global extinction risk is increasing
January 12, 2024-- The first-ever State of the World's Migratory Species report was launched today by the Convention on the Conservation of Migratory Species of Wild Animals (CMS), a UN biodiversity treaty, at the opening of a major UN wildlife conservation conference (CMS COP14). The landmark report reveals:
While some migratory species listed under CMS are improving, nearly half (44 per cent) are showing population declines.
More than one-in-five (22 per cent) of CMS-listed species are threatened with extinction.
Nearly all (97 per cent) of CMS-listed fish are threatened with extinction.
The extinction risk is growing for migratory species globally, including those not listed under CMS.
Half (51 per cent) of Key Biodiversity Areas identified as important for CMS-listed migratory animals do not have protected status, and 58 per cent of the monitored sites recognized as being important for CMS-listed species are experiencing unsustainable levels of human-caused pressure.
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Source: unep.org
What You Need to Know About Blue Carbon
November 21, 2023---Carbon pricing critical for achieving climate objectives
What is "Blue Carbon"?
Blue Carbon is the term coined for carbon dioxide (CO2) stored in the world's coastal and marine ecosystems such as mangroves, saltmarshes, and seagrasses. It's called "Blue" Carbon because of its proximity to the ocean: it is stored mostly in the soil and silt up to 6 meters under the seabed.
Besides coastal Blue Carbon, there is also "deep sea carbon". Each type is measured using a specific methodology to understand its impacts and benefits. The World Bank Group focuses on coastal Blue Carbon, namely mangroves, tidal marshes, and seagrasses, which come with accounting methodologies recognized by the Intergovernmental Panel on Climate Change (IPCC). Additional habitats may be added in the future.
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Source: worldbank.org
Plastic Pollution Crisis Deepens Despite Global Efforts
November 21, 2023--Every year, humanity produces a staggering 430 million tonnes of plastic, two-thirds of which quickly becomes waste. This relentless tide of plastic is polluting our land, sea, and air, and it's increasingly finding its way into our food chain.
By 2060, experts estimate that global plastic production will surpass a staggering billion tonnes, further exacerbating this growing crisis.
The World Health Organization (WHO) paints a grim picture, revealing that less than 10% of the world's annual-plastic production is recycled. The situation is particularly alarming in Africa, where despite producing only 5% and consuming only 4% of the world's plastic, the continent is experiencing a surge in single-use plastic consumption, leading to heightened pollution and health concerns.
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Source: allafrica.com
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