Climate change

    • Climate impacts will cost the world $7.9trn by 2050

      Climate impacts will cost the world $7.9trn by 2050

      Climate change could cost the world economy $7.9trn by mid-century as increased drought, flooding and crop failures hamper growth and threaten infrastructure, new analysis showed Wednesday. The conclusions are part of Economist Intelligence Unit's (EIU) Climate Change Resilience Index, which measured the preparedness of the world's 82 largest economies.

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    • Agreement on EU budget for 2020 reached

      Agreement on EU budget for 2020 reached

      The three EU institutions on Monday agreed on the EU's budget for 2020, the European Commission's Press service reported. Gunther H. Oettinger, Commissioner for Budget and Human Resources, pointed out that the 2020 EU budget will help create jobs, address climate change, and leverage investments all over Europe.

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    • Energy giants face 35% output cut to hit Paris climate goals

      Energy giants face 35% output cut to hit Paris climate goals

      The biggest listed oil and gas giants must slash production by more than a third by 2040 to keep emissions within targets laid out in the landmark Paris climate deal, an industry watchdog said Friday. Carbon Tracker, a Britain-based think tank, added that current rates of emissions from the energy majors would see the world's carbon budgets surpassed within decades due to an inexorable rise in oil and gas output.

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    • Merkel's conservatives lose support, polls show

      Merkel's conservatives lose support, polls show

      Support fell for Chancellor Angela Merkel’s conservatives over the past week, but rose slightly for their Social Democrat coalition partners after the ruling alliance agreed a $60bn climate package, which includes a new domestic carbon pricing scheme, bigger incentives for buying electric cars, higher road tolls for trucks from 2023, and surcharges on domestic flights.

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    • UN calls for 'Global Green New Deal' to boost world economy

      UN calls for 'Global Green New Deal' to boost world economy

      The world must dramatically rethink its economic model in order to tackle growing environmental stress, inequality and development challenges, the UN said Wednesday, calling for a "Global Green New Deal". In a fresh report, the UN trade, investment and development agency (UNCTAD) called for countries to join forces and enable trillions of dollars in public sector investments to help reboot the global economy and counter climate change.

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    • Greta Thunberg wins Swedish rights prize

      Greta Thunberg wins Swedish rights prize

      Swedish climate activist Greta Thunberg on Wednesday won the Right Livelihood Award, sometimes called the "alternative Nobel Prize", the jury for the Swedish human rights prize said. The 16-years old activist was honoured "for inspiring and amplifying political demands for urgent climate action reflecting scientific facts," the Right Livelihood Foundation said in a statement.

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    • Lasting smartphones to reduce emissions in EU

      Lasting smartphones to reduce emissions in EU

      Extending the lifespan of smartphones by just one year would lead to a significant reduction of waste and greenhouse gases in the European Union, a report from environmental groups said on Wednesday, urging new EU rules to focus on the climate costs of manufacturing smartphones and other electronic appliances, instead of the efficiency of their power consumption, as is largely the case now.

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    • Merkel: Climate change is a challenge for humanity

      Merkel: Climate change is a challenge for humanity

      German Chancellor Angela Merkel said Saturday that it would require a "feat of strength" in order for Germany to reach its climate goals by 2030 as planned, news wires reported. "Climate change is a challenge for humanity. In order to deal with this challenge, it will require a real feat of strength," Merkel said in the video posted on the chancellery's official website. She pointed out that passing climate legislation was necessary in order for the country to be able to achieve its goal of producing 65% of energy from renewable sources by 2030.

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    • EU weighs new energy taxes

      EU weighs new energy taxes

      In the last decade, EU Member States have led the global shift toward renewable energy and set up the world’s largest emissions trading system to price carbon and reduce reliance on more polluting fuels. However, the bloc’s rules on energy taxation have not changed for more than 15 years. The European Union is thus considering new energy taxes to meet its climate targets, Reuters reports.

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