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	Climate change: 38 trillion dollars in damages each year by Potsdam Institute for Climate Impact Research   17 Apr. 2024   38 trillion dollars in damages each year: World economy already committed to income reduction of 19 % due to climate change.   Even if CO2 emissions were to be drastically cut down starting today, the world economy is already committed to an income reduction of 19 % until 2050 due to climate change, a new study published in “Nature” finds.   These damages are six times larger than the mitigation costs needed to limit global warming to two degrees.   Based on empirical data from more than 1,600 regions worldwide over the past 40 years, scientists at the Potsdam Institute for Climate Impact Research (PIK) assessed future impacts of changing climatic conditions on economic growth and their persistence.   “Strong income reductions are projected for the majority of regions, including North America and Europe, with South Asia and Africa being most strongly affected. These are caused by the impact of climate change on various aspects that are relevant for economic growth such as agricultural yields, labour productivity or infrastructure,” says PIK scientist and first author of the study Maximilian Kotz.   Overall, global annual damages are estimated to be at 38 trillion dollars. These damages mainly result from rising temperatures but also from changes in rainfall and temperature variability. Accounting for other weather extremes such as storms or wildfires could further raise them.   “Our analysis shows that climate change will cause massive economic damages within the next 25 years in almost all countries around the world, also in highly-developed ones such as Germany, France and the United States,” says PIK scientist Leonie Wenz who led the study.   ”These near-term damages are a result of our past emissions. We will need more adaptation efforts if we want to avoid at least some of them. And we have to cut down our emissions drastically and immediately – if not, economic losses will become even bigger in the second half of the century, amounting to up to 60% on global average by 2100.   This clearly shows that protecting our climate is much cheaper than not doing so, and that is without even considering non-economic impacts such as loss of life or biodiversity.”   To date, global projections of economic damages caused by climate change typically focus on national impacts from average annual temperatures over long-time horizons. By including the latest empirical findings from climate impacts on economic growth in more than 1,600 subnational regions worldwide over the past 40 years and by focusing on the next 26 years, the researchers were able to project sub-national damages from temperature and rainfall changes in great detail across time and space.   Countries least responsible will suffer most   “Our study highlights the considerable inequity of climate impacts: We find damages almost everywhere, but countries in the tropics will suffer the most because they are already warmer. Further temperature increases will therefore be most harmful there. The countries least responsible for climate change, are predicted to suffer income loss that is 60% greater than the higher-income countries and 40% greater than higher-emission countries. They are also the ones with the least resources to adapt to its impacts.   Structural change towards a renewable energy system is needed for our security and will save us money. Staying on the path we are currently on, will lead to catastrophic consequences. The temperature of the planet can only be stabilized if we stop burning oil, gas and coal,” says Anders Levermann, Head of Research Department Complexity Science at the Potsdam Institute and co-author of the study.   http://www.pik-potsdam.de/en/news/latest-news/38-trillion-dollars-in-damages-each-year-world-economy-already-committed-to-income-reduction-of-19-due-to-climate-change http://www.nature.com/articles/s41586-024-07219-0 http://www.carbonbrief.org/daily-brief/new-study-calculates-climate-changes-economic-bite-will-hit-about-38-trillion-a-year-by-2049 http://www.theguardian.com/environment/2024/apr/17/climate-crisis-average-world-incomes-to-drop-by-nearly-a-fifth-by-2050 http://wmo.int/news/media-centre/climate-change-indicators-reached-record-levels-2023-wmo http://climate.copernicus.eu/copernicus-2023-hottest-year-record http://climate.copernicus.eu/global-climate-highlights-2023   http://climate.copernicus.eu/weve-lost-19-years-battle-against-global-warming-paris-agreement http://wmo.int/media/news/wmo-confirms-2023-smashes-global-temperature-record http://www.nasa.gov/news-release/nasa-analysis-confirms-2023-as-warmest-year-on-record/ http://www.carbonbrief.org/qa-climate-tipping-points-have-put-earth-on-disastrous-trajectory-says-new-report/ http://interconnectedrisks.org/ http://www.unicef.org/blog/urgent-need-child-centred-loss-and-damage-fund http://www.unicef.org/innocenti/reports/loss-and-damage-finance-children http://www.endchildhoodpoverty.org/publications-feed/climatechange   April 2024   Fossil fuel companies have increased their output of fossil fuels and related emissions since the Paris Climate Agreement.   57 major oil, gas and coal producers are directly linked to 80% of the world’s global fossil CO2 emissions since the 2016 Paris climate agreement, a new Carbon Majors study has revealed.   This group of state-controlled corporations and shareholder-owned multinationals are the leading drivers of the climate crisis, according to the InfluenceMap Carbon Majors Database, which is compiled by world-renowned researchers.   Although governments pledged in the Paris Climate Agreement to cut greenhouse gases, the analysis reveals that most major producers increased their output of fossil fuels and related emissions in the seven years after that climate agreement, compared with the seven years before.   "The majority of fossil fuel companies totaled higher production in the seven years after the Paris Agreement compared to the seven-year period before. 65% of state-owned companies and 55% of investor-owned companies showed higher production in 2016–2022 than in 2009–2015".   "The increase in production by state- and investor-owned companies after the Paris Agreement compared to before is most prevalent in Asia. All 5 Asian investor-owned companies and 8 out of the 10 Asian state-owned entities are linked to higher emissions in 2016–2022 compared to 2009–2015. This is primarily shaped by rising emissions from Asian coal production".   In the database of 122 of the world’s biggest historical climate polluters, the researchers found that 65% of state entities and 55% of private-sector companies had scaled up production.   During this period, the biggest investor-owned contributor to emissions was ExxonMobil of the United States, which was linked to 3.6 gigatonnes of CO2 over seven years. Close behind were Shell, BP, Chevron and TotalEnergies. A striking trend, was the surging growth of emissions related to state and state-owned producers, particularly in Asia.   The fossil fuel expansion runs contrary to the warning by the International Energy Agency and leading climate scientists that no new oil, coal and gas fields can be opened if the world is to stay within safe limits of global heating.   Climate scientists have emphasized global temperatures are rapidly approaching the Paris target of 1.5C above the pre-industrial era, with potentially dire consequences for people and the rest of nature beyond this threshold.   “It is morally reprehensible for companies to continue expanding exploration and production of carbon fuels in the face of knowledge now for decades that their products are harmful,” said Richard Heede, who established the Carbon Majors dataset in 2013. “Don’t blame consumers who have been forced to be reliant on oil and gas due to government capture by oil and gas companies.”   The Carbon Majors database includes a comparison between long-term emissions trends dating back to 1854, and more recent developments since the 2016 Paris deal. The historical record encompasses 122 entities linked to 72% of all the fossil fuel and cement CO2 emissions since the start of the industrial revolution, which amounts to 1,421 gigatonnes.   In this long-term analysis, Chinese state coal production accounts for 14% of historic global C02, the biggest share by far in the database. This is more than double the proportion of the former Soviet Union, which is in second place, and more than three times higher than that of Saudi Aramco, which is in third.   Then comes the big US companies – Chevron and ExxonMobil, followed by Russian’s Gazprom and the National Iranian Oil Company. After that are two investor-owned European firms: BP and Shell and then Coal India.   The 21st century rise of Asia becomes apparent when the historical records are compared with data from 2016-2022. In this recent period, the China coal share leaps to more than a quarter of all CO2 emission, while Saudi Aramco goes up to nearly 5%. The top 10 in this modern era is dominated by Chinese and Russian state entities and filled out with those from India and Iran.   The picture may change again in the future. The United States is the world’s biggest oil and gas producer even if operations are fragmented among many different companies. The U.S. has granted licences to multiple new exploration projects. Gulf states are also planning to step up their output.   Richard Heede says that fossil fuel producers have a moral obligation to pay for the damages they have caused and exacerbated through their delaying tactics. He cites the proposal made by Mia Mottley, the prime minister of Barbados, for oil and gas companies to contribute at least 10 cents in every dollar to a climate loss and damage fund.   Daan Van Acker, program manager at InfluenceMap, said many of the entities in the Carbon Majors database were moving in the wrong direction for climate stability.   “InfluenceMap’s new analysis shows that this group is not slowing down production, with most entities increasing production after the Paris agreement. This research provides a crucial link in holding these energy giants to account on the consequences of their activities.”   "The Carbon Majors research shows us who is responsible for the lethal heat, extreme weather, and air pollution that is threatening lives and wreaking havoc on our environment. These companies have made billions of dollars in profits while denying the problem and delaying and obstructing climate policy".   "They are spending millions on advertising campaigns about being part of a sustainable solution, all the while continuing to invest in more fossil fuel extraction. These findings emphasize that, more than ever, we need our governments to stand up to these companies, to end the era of fossil fuels and ensure a truly just transition." - Tzeporah Berman, Chair at Fossil Fuel Non-Proliferation Treaty   http://carbonmajors.org/briefing/The-Carbon-Majors-Database-26913 http://www.globalwitness.org/en/campaigns/fossil-gas/the-supermajors-plans-could-kill-115-million-people/ http://globalenergymonitor.org/report/drilling-deeper-2024-global-oil-gas-extraction-tracker/ http://www.carbonbrief.org/analysis-new-oil-and-gas-projects-since-2021-could-emit-14bn-tonnes-of-co2/ http://www.amnesty.org/en/latest/news/2024/04/global-large-companies-must-do-far-more-to-cut-carbon-emissions-and-limit-climate-damage/ http://cssn.org/decades-of-systematic-obstructionism-saudi-arabias-role-in-slowing-progress-in-un-climate-negotiations/ http://climatecasechart.com/non-us-case/communications-to-saudi-arabia-japan-france-usa-and-the-uk-and-13-financial-institutions-concerning-saudi-aramcos-business-activities-in-the-fossil-fuel-sector/ http://climatecasechart.com/non-us-climate-change-litigation/ http://climateattribution.org http://climate.law.columbia.edu/Silencing-Science-Tracker http://www.cell.com/one-earth/fulltext/S2590-3322(23)00198-7 http://insideclimatenews.org/news/28032023/corporate-interests-watered-down-the-latest-ipcc-climate-report-investigations-find/ http://www.sciencedirect.com/science/article/pii/S221462962100142   http://www.lse.ac.uk/granthaminstitute/publication/submission-to-the-un-working-group-on-business-and-human-rights-inquiry-on-investors-esg-and-human-rights/ http://insideclimatenews.org/news/16052023/todays-climate-montana-anti-climate-law/ http://influencemap.org/pressrelease/US-House-Republicans-Anti-ESG-Priorities-Appear-to-Following-Stances-of-Leading-Industry-Associations-Opposing-Sustainable-Finance-Policy-24303 http://www.france24.com/en/live-news/20240215-big-firms-with-7-tn-exit-climate-investment-pressure-group http://www.reuters.com/business/sustainable-business/vanguard-quits-net-zero-climate-alliance-2022-12-07/ http://www.eiu.com/n/anti-esg-sentiment-in-the-us-weakens-esg-markets/ http://www.pleiadesstrategy.com/press-and-publications http://www.pleiadesstrategy.com/pleiades-anti-esg-bill-tracker-state-legislation-attacks-on-responsible-investing   http://www.theguardian.com/environment/2024/mar/31/election-donald-trump-world-climate-goals-at-risk-un-chief http://www.theguardian.com/commentisfree/2024/apr/02/eu-green-deal-far-right-environment-agribusiness-extremists http://www.motherjones.com/politics/2024/01/woke-capital-vivek-ramaswamy-esg-capitalism-finance http://influencemap.org/pressrelease/Retail-Investors-Want-Funds-and-Pension-Plans-to-Take-an-Active-Role-in-Addressing-Climate-Change-27167 http://www.asyousow.org/press-releases/2024/3/14-shareholders-continue-strong-advocacy-corporate-climate-social-action Visit the related web page
	Faces of Inequality in Asia by Global Call to Action against Poverty   Apr. 2024   In the dynamic landscape of the Asia, home to over 4.6 billion people, where rapid economic growth coexists with pressing social challenges, the specter of inequality looms large.   The countries with their bustling urban centers and rural hinterlands are marked by significant divide in opportunities and access to essential services.   This report delves into the multifaceted nature of inequality, exploring its various dimensions such as income disparity, gender inequality, regional divides, educational imbalances and challenges to access healthcare facility and social security schemes.   High-income inequality, a prevailing issue across most of the countries, is a harbinger of diverse negative impacts. From hampering child development to limiting the status of women, the ramifications are far-reaching impacting individuals across social, economic, and geographic spectrums.   The existing social security systems, while acknowledged as effective tools in reducing inequality, are not uniformly structured across the countries. Many countries still grapple with bifurcated systems, leaving a substantial portion of the population excluded from the benefits of social security.   Moreover, the lack of universal healthcare compounds the issue, with a significant portion of the population lacking access to essential medical services. This not only perpetuates a cycle of poverty and ill-health but also exposes the region to heightened vulnerabilities during health crises.   As we journey through the case studies presented in Nepal, India, Bangladesh, Cambodia, Pakistan, and the Philippines, we uncover the harsh realities faced by those on the margins.   We will encounter disparities in income, access to education, healthcare, and opportunities that mirror the challenges faced by communities and individuals.   Each story reflects a unique facet of the broader struggle against social disparities, revealing the human cost of systemic failures and the urgent need for inclusive policies.   A Unified Call for Inclusive Policies & Urgent Reforms to redefine Equity   It is high time the policymakers, governments, and civil society collaborated in designing and implementing effective solutions to address the issues of inequality. The voices of those on the margins must guide the formulation of policies, ensuring that social security, healthcare, and essential services become not just aspirations but tangible realities for every individual, irrespective of their socio[1]economic background.   It’s time for the governments in Asia to start formulating policies on Universal Health Coverage (UHC) and Universal Social Protection Floors (USPF). Only through concerted efforts and commitment can we build a future where dignity, justice, and equal opportunities are the birthright of every citizen.   Key Takeaways   Urgent Systemic Reforms: There is a need for urgent and systemic reforms in social security frameworks, healthcare systems and bureaucratic processes to address the pressing challenges faced by marginalized communities.   Tailored Interventions: Tailored interventions that address the unique needs of diverse communities, considering factors like gender, socio-economic status, and cultural nuances is the need of the hour.   Inclusive Policy Formulation: Policymakers need to incorporate the voices of those on the margins in the formulation of policies, ensuring that the solutions are not one-size-fits-all but cater to the specific challenges faced by different communities.   Collaboration for Change: Collaboration between governments, civil society and international organizations to effect meaningful and sustainable change in the lives of those facing adversity is essential.   Continuous Evaluation: As nations implement reforms such as the Universal Health Care Act in the Philippines, continuous evaluation and adaptation are crucial to ensure the effectiveness of policies and the realization of the fundamental right to healthcare for every citizen.   http://gcap.global/news/faces-of-inequality-in-asia-2023/ http://gcap.global/news/ Visit the related web page
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