Daily updates on climate change and the global economy.

Daily updates on climate change and the global economy.
Stay current with what’s happening around the world with a quick scan of top news.

Daily updates on climate change and the global economy.
Stay current with what’s happening around the world with a quick scan of top news.

Daily updates on climate change and the global economy.
Stay current with what’s happening around the world with a quick scan of top news.

Daily updates on climate change and the global economy.
Stay current with what’s happening around the world with a quick scan of top news.

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“Fractures in global trade deepen as WTO musters only a small win…

“Meetings in the capital of the United Arab Emirates – positioned both geographically and geo-economically between US-European Union and China-Russia alliances – were dominated by disorder and confusion, according to several participants, who asked not to be named speaking about the private talks.”

https://www.businesstimes.com.sg/opinion-features/fractures-in-global-trade-deepen-as-wto-musters-only-a-small-win


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“Global Labor Shortages Intensify Supply Chain Challenges Amid Climate Change.

“As the world grapples with evolving economic landscapes, global supply chains face unprecedented pressures, notably from labor shortages exacerbated by demographic shifts and climate change.”

https://bnnbreaking.com/finance-nav/global-labor-shortages-intensify-supply-chain-challenges-amid-climate-change


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“OAPEC Secretary General: World Economy Will Fall in Deep Slump without Oil, Gas.

“Jamal Issa Al-Loughani, Secretary General of the Organization of Arab Petroleum Exporting Countries (OAPEC), predicted that the world would become primitive if oil-producing countries listened to climate activist demands and stopped producing gas and oil. He said the world will witness major power outages, companies would be forced to close and global trade would come to a halt.”

https://english.aawsat.com/business/4889221-oapec-secretary-general-world-economy-will-fall-deep-slump-without-oil-gas


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“OPEC+ members extend production cuts in bid to boost oil price…

“Opec+ members led by Saudi Arabia and Russia have extended the latest round of voluntary cuts to oil production for another three months, as they attempt to boost prices that have remained subdued despite ongoing geopolitical tensions.”

https://www.ft.com/content/d6236674-75e5-4893-889a-b412501891fa


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“Will the immigration crisis bankrupt U.S. cities as federal funds fall short?

“The recent surge of migrants has put major cities across the U.S. under significant financial pressure. Watch the video above to see just how much financial pressure cities across the U.S. are facing due to the ongoing migrant crisis.”

https://www.cnbcafrica.com/2024/will-the-immigration-crisis-bankrupt-u-s-cities-as-federal-funds-fall-short/


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“The U.S. national debt is rising by $1 trillion about every 100 days.

“The debt load of the U.S. is growing at a quicker clip in recent months, increasing about $1 trillion nearly every 100 days. The nation’s debt permanently crossed over to $34 trillion on Jan. 4, after briefly crossing the mark on Dec. 29, according to data from the U.S. Department of the Treasury.”

https://www.cnbc.com/2024/03/01/the-us-national-debt-is-rising-by-1-trillion-about-every-100-days.html


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“UK Chancellor faces struggle to defuse Britain’s ticking debt time bomb…

“Last financial year, the Government received just over £1,023bn in tax and other receipts. On the other side of the ledger, outgoings were £1,151bn, leaving a shortfall of £128bn. The national debt meanwhile stood at £2,251bn and rising.”

https://www.telegraph.co.uk/business/2024/03/02/chancellor-faces-struggle-to-defuse-ticking-debt-timebomb/


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“Ministers are being urged to lay out their contingency plans for Thames Water, as fears mount that the supplier’s potential collapse will cost taxpayers billions of pounds.

“A group of MPs are pushing for the Department for Environment, Food and Rural Affairs to reveal details of “Project Timber”, the contingency plan drawn up by the Government in case of the utility giant’s failure.”

https://www.telegraph.co.uk/business/2024/03/02/ministers-urged-publish-bailout-plan-thames-water-debt/


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“‘It’ll be a shortlist of one!’ Villagers in England fear nuclear dump proposal…

“When Ian Harrison returned to the Lincolnshire coast to care for his parents a decade ago, he didn’t expect to spend his own retirement fighting plans to dig a £50bn nuclear waste dump near the beaches of his childhood.”

https://www.theguardian.com/business/2024/mar/03/itll-be-a-shortlist-of-one-villagers-in-england-fear-nuclear-dump-proposal


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“Left-for-dead uranium mines are being revived as prices soar, countries eye nuclear power to address climate change…

“As countries increasingly consider nuclear power to address climate change, demand for uranium is expected to skyrocket. The International Atomic Energy Agency estimates the world will need more than 100,000 metric tons of uranium per year by 2040 — an amount that requires nearly doubling mining and processing from current levels.”

https://fortune.com/2024/03/03/uranium-mines-nuclear-power-climate-change-environment/


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“Leaked Audio Alleges German Bundeswehr Plotted Crimean Bridge Strikes Amid NATO’s Denial.

“In a revelation that could escalate tensions, Margarita Simonyan, chief editor of Russia North and Russia Today, claims to possess an audio recording of German Bundeswehr officers discussing plans to bomb the Crimean bridge.”

https://bnnbreaking.com/politics/leaked-audio-alleges-german-bundeswehr-plotted-crimean-bridge-strikes-amid-natos-denial


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“Swedish home with cold war bunker attracts buyers as Russia fears grow.

“…n the last two years, since the invasion of Ukraine and Sweden’s subsequent Nato membership – expected to be completed within days – growing fears of a Russian attack on Swedish soil have prompted a surge of interest in such shelters.”

https://www.theguardian.com/world/2024/mar/02/swedish-home-with-cold-war-bunker-attracts-buyers-as-russia-fears-rise


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“Newly enlarged NATO starts drill in Finland, Norway and Sweden in defense of its Nordic turf.

“NATO will kick off Monday an exercise to defend its newly expanded Nordic territory when more than 20,000 soldiers from 13 nations take part in drills lasting for nearly two weeks in the northern regions of Finland, Norway and Sweden.”

https://apnews.com/article/nato-military-drill-nordics-finland-norway-sweden-87ff05e1bb24f77dc9d5b5bf09c709b0


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“Seoul, Washington begin military drills amid peninsula tensions.

“The armies of South Korea and the United States began their large-scale Freedom Shield spring military drills on Monday, the first since Pyongyang announced it was scrapping a bilateral military agreement with Seoul. The exercises, the start of which was confirmed to reporters on Monday…”

https://www.laprensalatina.com/seoul-washington-begin-military-drills-amid-peninsula-tensions/


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“Global Impact: China’s ‘two sessions’ rolls around at decisive moment for the world’s second-largest economy…

“With the world clouded with uncertainty as conflicts rage in the Middle East and Ukraine, nearly 3,000 Chinese lawmakers and other members of the political elite are set to converge on Beijing. There, they will deliberate on plans to maintain stability in the world’s second-largest economy.”

https://www.scmp.com/economy/china-economy/article/3254027/global-impact-chinas-two-sessions-rolls-around-decisive-moment-worlds-second-largest-economy


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“Newly elected Prime Minister of Pakistan, Shehbaz Sharif highlighted the country’s alarming debt crisis on Sunday.

“While addressing the financial crisis in the country, Sharif said that even the expenditures of the National Assembly were being paid by borrowed money… He further said that the perpetrators of the May 9 riots will not be forgiven, vowing action against all those who were involved in the violence.”

https://timesofindia.indiatimes.com/world/pakistan/alarming-debt-crisis-top-priority-for-new-shehbaz-sharif-government-in-pakistan/articleshow/108180356.cms


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“Iran Hard-Liners Tighten Parliament Grip as Turnout Hits New Low.

“Only 41% of eligible voters participated in Friday’s poll, down from 42% in 2020, the state-run Islamic Republic News Agency reported. That reflects growing political apathy among Iranians after a crackdown on anti-regime protests in 2022 and worsening living conditions under Western sanctions…”

https://www.bloomberg.com/news/articles/2024-03-04/iran-hard-liners-tighten-parliament-grip-as-turnout-hits-new-low


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“‘Every girl in Iran is born into a cage’: exiled Kurdish women fighting for freedom in Iraq.

“Kurdish women living in Iran face discrimination for their ethnicity as well as their gender. The photographer Keiwan Fatehi spoke to those who were forced to leave their homeland due to oppression, lack of rights or fear for their safety and joined the peshmerga military.”

https://www.theguardian.com/global-development/gallery/2024/mar/04/every-girl-in-iran-born-into-cage-exiled-kurdish-women-fighting-for-freedom-in-iraq


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“Azerbaijan starts bombing Nagorno Karabakh and at least 25 people die.

“The Azerbajain Ministry of Defence has stated that this is a military operation “against terrorism”, and according to the Armenian People’s Advocate, Azerbaijani army bombs have already killed 25 people. The Armenians of Nagorno Karabakh have been in lockdown for at least nine months…”

https://www.argia.eus/en/albistea/azerbaijanek-nagorno-karabakh-bonbardatzeari-ekin-dio-eta-gutxienez-25-lagun-hil-dira


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“Kamala Harris issues sharp rebuke of Israel over ‘humanitarian catastrophe’ in Gaza.

“US vice-president Kamala Harris has bluntly called out Israel for not doing enough to ease a “humanitarian catastrophe” in Gaza as the Biden administration faces increasing pressure to rein in its close ally while it wages war with Hamas militants.”

https://www.theguardian.com/us-news/2024/mar/04/kamala-harris-israel-idf-gaza-catastrophe-ceasefire-hamas-hostage-deal


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“Italian warship forced to shoot down Houthi missile in Red Sea.

“An Italian warship participating in the EU naval protection force in the Red Sea was forced to shoot down a Houthi missile on Saturday in a rare engagement by the country’s navy, which has largely avoided direct action since the second world war.”

https://www.theguardian.com/world/2024/mar/03/italian-warship-forced-to-shoot-down-houthi-missile-in-red-sea


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“Rubymar’s sinking poses ‘major environmental crisis’ in the Red Sea.

“The ship creates a triple threat to the Red Sea – with its bunker fuel already creating a 30 km slick, its cargo of fertiliser posing a potential ecological disaster, and the wreck itself becoming a hazard to other ships passing by. The ship was carrying 21,000 metric tons of ammonium phosphate sulphate fertiliser when it was struck last month.”

https://splash247.com/rubymars-sinking-poses-major-environmental-crisis-in-the-red-sea/


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“Mountains of plastic are choking the Himalayan States…

“Rapid and unplanned urbanisation and changing production and consumption patterns are responsible for the plastic waste crisis in the Indian Himalayan Region. A quantum jump in tourist footfalls is another reason for exacerbation of the problem.”

https://www.thehindu.com/opinion/lead/mountains-of-plastic-are-choking-the-himalayan-states/article67910881.ece


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“Gauteng’s Water Crisis Worsens: Municipalities Owe Rand Water R3 Billion [South Africa]…

“Rand Water, the primary water utility serving Gauteng and other regions, is grappling with a significant financial crisis due to unpaid debts by multiple municipalities, highlighting a growing water supply concern that could affect thousands.”

https://bnnbreaking.com/finance-nav/gautengs-water-crisis-worsens-municipalities-owe-rand-water-r3-billion


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“Thousands protest Tunisia’s falling living standards.

“Thousands protested deteriorating living standards outside the prime minister’s office in Tunis on Saturday following a call from Tunisia’s main trade union confederation. “The economic and social situation continues to worsen,” the confederation’s head, Noureddine Taboubi, said in a speech to protesters.”

https://www.france24.com/en/africa/20240302-thousands-protest-against-the-socio-economic-crisis-in-tunisia


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“Armed gangs storm Haiti’s main prison in latest escalation of violent conflict with police…

“The jailbreak marked a new low in Haiti’s downward spiral of violence and came as gangs step up coordinated attacks in Port-au-Prince, while embattled Prime Minister Ariel Henry is abroad trying to salvage support for a United Nations-backed security force to stabilize the country.”

https://www.pbs.org/newshour/world/armed-gangs-storm-haitis-main-prison-in-latest-escalation-of-violent-conflict-with-police


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“A $1.5 Trillion ‘ESG’ Debt Market Has Started Bleeding Clients [environmental, social and governance]…

“Extra regulatory requirements, fewer financial incentives and the risk of being accused of greenwashing are putting off clients who just a few years ago were champing at the bit to attach an environmental, social or governance label to their financing, according to bankers and lawyers close to the market.”

https://finance.yahoo.com/news/1-5-trillion-esg-debt-133000056.html


You can read the previous “Economic” thread here. I’ll be back tomorrow with a “Climate” thread.

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