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The Latest Breaking News from World Bank

Australia criticised for resisting Cop27 push to end international fossil fuel subsidies

Labor party’s environment wing says it’s ‘disappointing’ Albanese government has not joined partnership which would build consensus across OECD

The Guardian - AU

Australia signs up to offshore wind alliance, as Chris Bowen declares return to climate change table

Climate Change Minister Chris Bowen delivers Australia's national statement at COP27, declaring the country "is back" as a willing negotiator on climate action.

ABC News

U.S. climate envoy Kerry wants development banks overhaul plan by April

U.S. climate envoy John Kerry said on Tuesday he wants to come up with a plan by April to reform the multilateral development banks system to unleash "hundreds of billions" of dollars to help vulnerable countries combat and adapt to climate change.

Reuters

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Population growth slows in India as world reaches eight billion

India will still become the world’s most populous country next year, according to UN estimates.

Al Jazeera

Nationalism is the ideology of our age. No wonder the world is in crisis

Rishi Sunak and Joe Biden should be pushing for greater cooperation at the G20, says former UK prime minister Gordon Brown

The Guardian - UK

Climate-focused reform of World Bank could be done in a year, says Al Gore

Former US vice-president says bank should refocus its spending and end its role in ‘fossil fuel colonialism’

The Guardian - UK

Australian climate minister to target World Bank’s response to crisis in Cop27 speech

Australia is back as a ‘constructive collaborator’ in negotiations, Chris Bowen will tell summit, as he calls for more commitment from institutions

The Guardian - AU

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4 signs of progress at the UN climate change summit

Something significant is happening in the desert in Egypt as countries meet at COP27, the United Nations summit on climate change.

The Conversation

US to Reevaluate Ties with Libyan Sides Hindering Political Solution

The US Special Envoy and Ambassador to Libya Richard Norland concluded his visit to the Libyan capital Tripoli, threatening sanctions against parties who obstruct the progress of a political process in Libya. In a clear threat after a series of meetings with government officials, international partners, and the donor community,…

Asharq Al-Awsat

Cop27 first week roundup: powerful dispatches, muted protest, little cash

Despite ‘loss and damage’ focus there have been more oil and gas lobbyists than delegates from the most vulnerable countries

The Guardian - UK

Herman Daly obituary

Pioneering ecological economist who foresaw the catastrophic effects of unlimited economic growth

The Guardian - UK

Albania's ghost towns: the crisis that caused the exodus

Albania has a population of 2.8 million people, according to data published at the start of 2021. Since the fall of communism in 1991 nearly 40% of Albania’s population has left the country.

The Conversation

2 Resilient Stocks to Buy and Hold Through a Recession

The World Bank has warned about a global recession next year. Moreover, although the October inflation report shows signs of cooling price pressures, inflation is still far from the Fed’s target level. Hence, we believe fundamentally solid dividend-paying stocks Johnson & Johnson (JNJ) and McDonald’s Corporation (MCD) could be ideal…

StockNews.com

World Bank tells rich countries, give us more cash for climate

The World Bank is ready to step up financing of action to tackle climate change in the world's poorest countries, but needs fresh funds from wealthy donor countries to do so, its managing director of operations told Reuters.

Reuters

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Newsroom.co.nz

Finance a COP sticking point

The third day of the COP summit in Egypt saw signs of movement on climate finance and the resurrection of a controversy about the views of the World Bank president.

WEKU

Investors have trillions to fight climate change. Developing nations get little of it

Private investment is crucial to addressing climate change. But a big barrier to private investment in developing countries is the perception that risks are higher than in industrialized nations.

The Guardian - UK

How likely is progress on climate at Cop27?

Potential outcomes on 1.5C, climate finance, adaptation funding, loss and damage, World Bank reform and African gas

ABC News

Nigeria, Pakistan, Philippines and Australia. What can we learn from the world's devastating floods?

Extreme weather is drowning many parts of the world with countries lacking the resilience and funding to cope with the devastating downpours. What can we learn from these global floods and what solutions are on the table at COP27?

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The Guardian - UK

Developing countries ‘will need $2tn a year in climate funding by 2030’

Report co-written by Nicholas Stern says figure required to switch away from fossil fuels and cope with extreme weather impacts

The Guardian - UK

Money talks: why climate finance at Cop27 is key to beating global heating

Funding urgently needed to cope with climate disasters – and to prevent distrust crashing UN negotiations

The Guardian - UK

Who’s who at Cop27: the leaders who hold the world’s future in their hands

A look at who will – and who may not – be at the Sharm el-Sheikh climate summit this month

Bangkok Post

IP rights are key to sustainability

Indonesians are increasingly aware of the need to develop in a more sustainable manner. In October 2022, the Jakarta High Court rejected the government's appeal of a citizen lawsuit that found President Joko Widodo negligent in failing to tackle Jakarta's notorious air pollution. Report after report indicates the rapidly growing…

Asharq Al-Awsat

Riyadh Hosts International Workshop to Improve Yemeni Institutions

The Coordination Group for Building and Developing the Capacity of Yemeni Institutions held on Tuesday its first workshop in Riyadh, with the participation of a number of Yemeni and Saudi institutions and international organizations. The two-day workshop aims to discuss means to strengthen the work of the Yemeni government and…

Asharq Al-Awsat

World Bank: Saudi Green Initiatives Will Grow Region’s Economy to $13 Trillion by 2050

The World Bank confirmed that Saudi green initiatives will grow the region's economy to $13 trillion by 2050.

Asharq Al-Awsat

Rating Agencies Cite ‘Cautious’ Positive Outlook for Lebanon after Maritime Demarcation Deal with Israel

The conclusions of two international credit rating agencies agreed on the initial positive outlook for Lebanon and its economy following its signing of the US-mediated sea border deal with Israel. “The agreement is credit positive for Lebanon because it establishes the necessary geopolitical security conditions for international energy companies to…

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