Economics, Trade & Investment

IMF Considers Fiscal Implications of Climate Change [viewed]

The International Monetary Fund (IMF) Executive Board held a seminar on the fiscal implications of climate change, on 24 March 2008. The IMF Directors highlighted that the IMF has a distinctive and valuable contribution to make to the task of understanding and dealing with the fiscal challenges from climate change, but cautioned that the Fund's work on climate change should be budget-neutral and limited to its core competencies. With respect to the Fund's country work, the Directors noted that climate change concerns tend to reinforce established Fund advice on fiscal management, for instance in relation to energy subsidies. It was suggested that the Fund's work in this area should be mainly demand-driven, pay special attention to countries where the impact of climate change on external stability is evident and significant, and facilitate the exchange of views on country-experiences.

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IDB Holds Annual Meeting [viewed]

IdbThe Inter-American Development Bank (IDB) held its annual meeting from 4-8 April 2008, in Miami, US.

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G8 Development Ministers Highlight Climate Change-Development Link [viewed]

April 2008: G8 Ministers and senior officials responsible for development cooperation met from 5-6 April 2008, in Tokyo, Japan, along with representatives from Brazil, China, India, Indonesia, Malaysia, Mexico, Republic of Korea, South Africa, the ASEAN Secretariat, the AU Commission, the OECD, UNDP, UNESCO, UNICEF, WHO and the World Bank. The meeting was held with a view to provide political input and support to the Fourth Tokyo International Conference on African Development (TICAD IV), the G8 Hokkaido Toyako Summit, the Third High Level Forum on Aid Effectiveness in Accra, Ghana, the UN high-level meeting on the Millennium Development Goals (MDGs), and the Follow-up Conference on Financing for Development in Doha. Ministers addressed the development agenda for the G8 Hokkaido Toyako Summit, and held outreach sessions on: expanding partnerships for development; climate change and development; and human security and the achievement of the MDGs.

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UNDP Begins Implementing GEF Community-Based Adaptation Project [viewed]

Undp_logo2008: In accordance with the Global Environment Facility (GEF) Strategic Priority on Adaptation, which aims to build up the resilience of small communities vis-à-vis climate change impacts, the UN Development Programme (UNDP) has begun implementing the GEF-funded Community-Based Adaptation Project.

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UN Secretary-General Ban Addresses Climate Links with Development: Recent Statements Regarding Climate Change [viewed]

Ban_kimoonIn his 1 April 2008 address to the UN General Assembly's thematic debate on the Millennium Development Goals (MDGs), UN Secretary-General Ban Ki-moon stressed that “development progress is gravely threatened by the effects of climate change and other major environmental challenges.” He highlighted that changes in our natural environment “can have adverse impacts on economic and social development,” and emphasized developing countries' need for “additional assistance and resources to support their adaptation efforts,” given their limited technological and financial resources.

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Adaptation Fund Board Holds Inaugural Meeting [viewed]

Unfccc_2The Board of the Kyoto Protocol's Adaptation Fund met for the first time from 26-28 March 2008, in Bonn, Germany. The Fund, which was set up under the Kyoto Protocol and approved at the Bali Climate Change Conference in December 2007, will finance adaptation projects that assist developing countries to deal with the impact of climate change.

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ISO to Develop an Energy Management Standard [viewed]

Iso_2The International Organization for Standardization (ISO) has launched a project to develop an international standard for energy management, following the successful examples of the ISO 9000 series on quality management and the ISO 14000 series on environmental management.

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Towards A Strategic Framework On Climate Change And Development For The World Bank Group [viewed]

WorldbankThe World Bank has released a concept and issues paper that develops a draft for a comprehensive Strategic Framework on Climate Change and Development (SFCCD) for the World Bank Group (WBG). The draft will be subject to public consultations and proposed for endorsement by the Board in September 2008.

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Climate Change will Aggravate Africa's Food Insecurity and Poverty [viewed]

Josue_dioneCalling for a new business approach to African agriculture, the UN Economic Commission for Africa's (UNECA) Director of Food Security and Sustainable Development, Josue Dione, said in Addis Ababa that climate change would aggravate the continent's food insecurity and poverty. In a paper presented at the international conference on “Science with Africa,” Dione said Africa would experience a 10 percent decrease in rainfall in Southern Africa and the Horn of Africa by 2050.

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World Tourism Day Campaign to focus on Climate Change [viewed]

Un_world_tourism_organizationThe UN World Tourism Organization (UNWTO) announced that World Tourism Day 2008 will focus on Tourism's response to the challenges of climate change. It will be a yearlong campaign that will focus on increasing awareness of the Davos Declaration Process and encouraging its implementation by all stakeholders at a global level.

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