Latest news with #developingcountries
Japan Times
7 hours ago
- Climate
- Japan Times
Half the world has faced an extra month of extreme heat, study finds
Half the global population endured an additional month of extreme heat over the past year because of human-caused climate change, a new study found Friday. The findings underscore how the continued burning of fossil fuels is harming health and well-being on every continent, with the effects especially under-recognized in developing countries, the authors said. "With every barrel of oil burned, every ton of carbon dioxide released, and every fraction of a degree of warming, heat waves will affect more people," said Friederike Otto, a climate scientist at Imperial College London and co-author of the report. The analysis — conducted by scientists at World Weather Attribution, Climate Central, and the Red Cross Red Crescent Climate Centre — was released ahead of global Heat Action Day on June 2, which this year spotlights the dangers of heat exhaustion and heat stroke. To assess the influence of global warming, researchers analyzed the period from May 1, 2024 to May 1, 2025. They defined "extreme heat days" as those hotter than 90% of temperatures recorded at a given location between 1991 and 2020. Using a peer-reviewed modeling approach, they then compared the number of such days to a simulated world without human-caused warming. The results were stark: Roughly 4 billion people — 49% of the global population — experienced at least 30 more days of extreme heat than they would have otherwise. The team identified 67 extreme heat events during the year and found the fingerprint of climate change on all of them. The Caribbean island of Aruba was the worst affected, recording 187 extreme heat days — 45 more than expected in a world without climate change. The study follows a year of unprecedented global temperatures. 2024 was the hottest year on record, surpassing 2023, while January 2025 marked the hottest January ever. On a five-year average, global temperatures are now 1.3 degrees Celsius above preindustrial levels — and in 2024 alone, they exceeded 1.5 C, the symbolic ceiling set by the Paris climate accord. The report also highlights a critical lack of data on heat-related health impacts in lower-income regions. While Europe recorded more than 61,000 heat-related deaths in the summer of 2022, comparable figures are sparse elsewhere, with many heat-related fatalities misattributed to underlying conditions such as heart or lung disease. The authors emphasized the need for early warning systems, public education, and heat action plans tailored to cities. Better building design — including shading and ventilation — and behavioral adjustments like avoiding strenuous activity during peak heat are also essential. Still, adaptation alone will not be enough. The only way to halt the rising severity and frequency of extreme heat, the authors warned, is to rapidly phase out fossil fuels.
Bloomberg
3 days ago
- Business
- Bloomberg
Morgan Stanley Sees ‘Uncomfortable' Rally in Emerging Markets
Emerging-market assets should keep rallying for the rest of the year, but gains will likely be limited by a slowing global economy and US policy uncertainty, according to Morgan Stanley. The Wall Street bank is predicting that developing currencies will modestly appreciate against the dollar by year-end while lagging some other G-10 currencies. A gauge of emerging-market currencies is up more than 5% this year, the best performance through May since 2017.
Mail & Guardian
3 days ago
- Business
- Mail & Guardian
Africa's green industrial future hinges on global trade and investment reform
The continent has what is needed to lead the green industrial revolution but it can't do it without building its trade and investment partnerships. (File photo) South Africa's G20 presidency identified green industrialisation as one of its priorities for the Working Group on Trade and Investment. Africa faces a pivotal moment as climate-related trade measures tighten and the global economy reconfigures around decarbonisation. This framework supports the integration of developing countries in global green value chains. The continent has the resources, the demographic dividend and the ambition to lead in the emerging green economy, but without an enabling global trade and investment environment, we risk this opportunity slipping away. The G20, as the world's most influential economic forum, must recognise that green industrialisation is not just an environmental imperative but a development strategy. The Africa Future Policies Hub's recent Green competitiveness for inclusive growth The global push toward decarbonisation is reshaping trade flows, production systems and industrial policy. From carbon border taxes, like the EU's Carbon Border Adjustment Mechanism, to green subsidies and technology standards, countries are adjusting the rules of engagement in the name of climate action. But, if these changes are not matched with complementary support for developing economies, they could further entrench global inequality. Africa's contribution to historical emissions is minor but many industries, some of which are carbon-intensive and still in their infancy, face new barriers to export. Instead of punitive trade measures that disregard the continent's development realities, the G20 should champion an agenda of cooperative green competitiveness — one that recognises differentiated responsibilities, fosters innovation and builds productive capabilities across regions. Renewable energy and mineral value chains must be effectively leveraged to serve as a foundation for new industrial models. To realise these benefits, market shifts, coordinated policy efforts and global partnerships are needed. Inclusive green initiatives must be strategically targeted and embedded within strategic value chains that have the potential to expand industrial capacity. Existing regional initiatives can be harnessed to design pilot projects that are scalable. The scale and nature of financing mechanisms and investments play a crucial role in targeting and shaping green pathways. To be successful, there must be access to sufficient, highly concessional and patient capital, which is essential for a sustainable green industrialisation agenda. A path forward: Local strength, global partnership Green industrialisation in Africa must begin with sectors where the continent has clear comparative advantages and potential for value addition: renewable energy, transition minerals, green fertilisers and low-carbon construction materials like cement, for example. But building competitiveness in these areas is not simply a matter of targeting sectors; it requires deliberate investment in industrial ecosystems. This includes infrastructure; access to affordable and clean energy; skills development and strong institutions. It means creating industrial clusters where firms, technology providers and research institutions co-evolve around shared innovation. Public-private partnerships, as well as 'climate-smart' PPPs, hold the potential to bridge technical and financial gaps in critical infrastructure and new industrial sectors. At the same time, Africa cannot industrialise in isolation. The scale of transformation required depends on deep and equitable global partnerships with capital, technology and know-how flowing in ways that preserve sovereignty and generate mutual benefit. African countries must work together. Local development strategies must be aligned with regional trade frameworks like the African Continental Free Trade Area to scale up demand and anchor value chains within the continent. Cross-border cooperation holds significant potential to open up opportunities for advancing green industrialisation Financing the future One of the biggest barriers to Africa's green industrial transformation is finance. Green investments, whether in grid infrastructure, hydrogen production or decarbonised manufacturing, are costly, risky and long-term. In a context of rising debt burdens and constrained fiscal space, few African governments can shoulder this alone. The G20 must prioritise reforms to the global financial architecture that unlock concessional, patient capital for green industrial development. This includes expanding the mandates and capital base of multilateral development banks, enhancing their ability to take on early-stage risk and developing blended finance instruments that can crowd in private capital. Crucially, financial support must be channelled through platforms that align with country-led strategies. Models like the Türkiye Industrial Decarbonisation Investment Platform, driven by the EBRD and the World Bank, offer promising templates. Regional banks like Afreximbank also have a critical role to play in facilitating green trade finance and scaling African-driven solutions. From technology transfer to knowledge partnerships Technology needs to be approached differently. Traditional models of 'technology transfer' often imply a one-directional, donor-recipient relationship. But building green competitiveness demands a more collaborative approach. It is one where technology is co-developed, adapted to local contexts and accompanied by institutional and human capacity building. Initiatives like the Industrial Transition Partnership between India and Sweden, facilitated by the Leadership Group for Industry Transition (LeadIT), show how structured, multi-stakeholder collaborations can produce strategic decarbonisation projects that reflect shared interests. African countries should be supported to participate in — and lead — similar arrangements. Major economies that impose carbon pricing or border adjustment measures should channel a portion of revenues into co-innovation and green technology diffusion funds. These funds should be earmarked for developing countries. This would not only help mitigate trade imbalances but also build trust in global climate cooperation. The G20's responsibility For the G20, the challenge is clear — align global trade and investment rules with a just, inclusive green transition. That means putting developing countries, not just as aid recipients, but as equal partners in global production, at the heart of climate-compatible growth strategies. It means recognising that industrial development is not incompatible with climate goals; if done right, it's the very pathway to achieving them. Green industrialisation can deliver cleaner economies and more resilient, diversified and dignified livelihoods across the Global South. Africa stands ready. But readiness without partnership is not enough. The G20 must rise to the moment by enabling the policies, incentives and institutions that allow all regions to thrive in the green economy, not just a few. The cost of inaction is not just lost opportunity, it's deepening global fragmentation at a time when cooperation has never been more critical. Maria Nkhonjera is a senior policy officer: public finance at African Future Policies Hub and Shimukunku Manchishi a senior policy officer: trade also at the hub.
Al Arabiya
3 days ago
- Health
- Al Arabiya
Half the world faced an extra month of extreme heat due to climate change: Study
Half the global population endured an additional month of extreme heat over the past year because of manmade climate change, a new study found Friday. The findings underscore how the continued burning of fossil fuels is harming health and well-being on every continent, with the effects especially under-recognized in developing countries, the authors said. 'With every barrel of oil burned, every tonne of carbon dioxide released, and every fraction of a degree of warming, heat waves will affect more people,' said Friederike Otto, a climate scientist at Imperial College London and co-author of the report. The analysis—conducted by scientists at World Weather Attribution, Climate Central, and the Red Cross Red Crescent Climate Centre—was released ahead of global Heat Action Day on June 2, which this year spotlights the dangers of heat exhaustion and heat stroke. To assess the influence of global warming, researchers analyzed the period from May 1, 2024, to May 1, 2025. They defined 'extreme heat days' as those hotter than 90 percent of temperatures recorded at a given location between 1991 and 2020. Using a peer-reviewed modeling approach, they then compared the number of such days to a simulated world without human-caused warming. The results were stark: roughly 4 billion people—49 percent of the global population—experienced at least 30 more days of extreme heat than they would have otherwise. The team identified 67 extreme heat events during the year and found the fingerprint of climate change on all of them. The Caribbean island of Aruba was the worst affected, recording 187 extreme heat days—45 more than expected in a world without climate change. The study follows a year of unprecedented global temperatures. The year 2024 was the hottest on record, surpassing 2023, while January 2025 marked the hottest January ever. On a five-year average, global temperatures are now 1.3 degrees Celsius above pre-industrial levels—and in 2024 alone, they exceeded 1.5°C, the symbolic ceiling set by the Paris climate accord. The report also highlights a critical lack of data on heat-related health impacts in lower-income regions. While Europe recorded more than 61,000 heat-related deaths in the summer of 2022, comparable figures are sparse elsewhere, with many heat-related fatalities misattributed to underlying conditions such as heart or lung disease. The authors emphasized the need for early warning systems, public education, and heat action plans tailored to cities. Better building design—including shading and ventilation—and behavioral adjustments like avoiding strenuous activity during peak heat are also essential. Still, adaptation alone will not be enough. The only way to halt the rising severity and frequency of extreme heat, the authors warned, is to rapidly phase out fossil fuels.
Independent Singapore
4 days ago
- Business
- Independent Singapore
Tidal wave of debt: 75 nations must repay China US$22B next year under BRI loans
CHINA: The latest report from the Australian Lowy Institute warns that the world's most impoverished nations are confronted with an unparalleled outpouring of debt settlements to China, prompting worries of an impending financial catastrophe across developing nations. Record debt repayments due in 2025 According to the study featured in The Guardian , these 75 destitute countries are jointly projected to pay a confounding $22 billion to China in 2025 alone. This indicates the ultimate in the repayment series following years of concentrated Chinese lending. The report bluntly states: 'China will be more debt collector than banker to the developing world' for the rest of the decade. This move puts at risk essential subsidies for education, climate initiatives, and health as countries redirect meagre resources to pay these loans. Belt and Road: Boom turns to bust The bulk of the liability came from credit issued under President Xi Jinping's Belt and Road Initiative (BRI), a gigantic international infrastructure venture designed to build roads, schools, ports, and hospitals in developing countries. At its height in 2016, China's lending topped out at more than $50 billion per annum, surpassing all Western financiers and debt holders combined. See also China tells US to stop 'unreasonable suppression' of Huawei Although the BRI assisted in filling a capital gap in countries habitually deprived of Western outlay, it has triggered allegations of 'debt-trap diplomacy,' with apprehensions that China intentionally entangles countries in unrestrainable debt to wield political pressure and influence. Current examination shows Laos, severely beholden to China, now faces an incapacitating debt predicament partially instigated by BRI funds. China refutes these claims, with country-beneficiaries frequently shielding the alliance as more reliable than Western counterparts. Still, the Lowy report cautions that China's repayments could become a powerful instrument for political power, particularly as foreign assistance from other powerful countries like the U.S. has been deeply weakened. Diplomatic moves and economic dilemmas The report puts emphasis on fresh loans to countries like Honduras, Nicaragua, Solomon Islands, Burkina Faso, and the Dominican Republic immediately after they swapped political allegiance from Taiwan to Beijing, raising apprehensions over Beijing's calculated use of debt to inflate its power and influence. Transparency is still a challenge, as China divulges little about the full scope of its BRI credit. Lowy's speculations, built on World Bank statistics, probably played down the scale, with preceding studies signifying a 'hidden debt' of nearly $385 billion payable to China. As the debt surge intensifies, the international community watches meticulously, curious about how these financial undercurrents will rewrite the future of development, international relations, peacekeeping, and economic solidity for some of the world's most defenceless republics.
