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☆ A guide to climate buzzwords and what they say about corporate promises
▼ + stars: | 2023-02-19 | by ( Catherine Boudreau | ) www.businessinsider.com time to read: +6 min

Thousands of companies with climate goals use confusing jargon like "carbon neutral" and "net zero." Corporate climate pledges are rife with terms like "carbon neutral," "net zero," and "carbon negative," leading to confusion among consumers and investors, among others, about what it all means. Some companies, including ExxonMobil, also have net-zero goals that only cover direct operations. Why 'carbon neutral' can be misleadingThe UN's concerns about carbon offsets are why claims of an organization or product being "carbon neutral" can also be worrisome. "I think there is rightfully some skepticism around climate neutral," Fischweicher said.

☆ Debt-laden African countries charged 'extortionate' rates, U.N. chief says
▼ + stars: | 2023-02-18 | by ( Dawit Endeshaw | ) www.reuters.com time to read: +3 min

ADDIS ABABA, Feb 18 (Reuters) - African countries are getting a raw deal from the international financial system which charges them "extortionate" interest rates, the U.N. chief said on Saturday, as he announced $250 million in crisis funding, including for famine risk on the continent. "The global financial system routinely denies (developing countries) debt relief and concessional financing while charging extortionate interest rates," he said. The coronavirus pandemic pushed many poor countries into debt distress as they were expected to continue servicing their obligations in spite of the massive shock to their finances. Public debt ratios in sub-Saharan Africa are at their highest in more than two decades, the International Monetary Fund said last year. "African countries cannot... climb the development ladder with one hand tied behind their backs," Guterres said.

☆ African countries are charged 'extortionate' rates on debt, U.N. chief says
▼ + stars: | 2023-02-18 | by ( Dawit Endeshaw | ) www.reuters.com time to read: +3 min

"We need a new debt architecture that provides debt relief and restructuring to vulnerable countries," he said. "The global financial system routinely denies (developing countries) debt relief and concessional financing while charging extortionate interest rates." Governments on the continent, including Ethiopia, sought debt restructuring deals under an IMF programme to help them navigate the crisis, but conclusion of the process has been delayed. Others, which have not sought to restructure their debt, like Kenya, have seen their debt sustainability indicators worsen after the pandemic hit their finances. "African countries cannot... climb the development ladder with one hand tied behind their backs," he said.

☆ Russia wants UN Security Council to ask for NordStream blast inquiry
▼ + stars: | 2023-02-17 | by ( ) www.reuters.com time to read: +2 min

UNITED NATIONS, Feb 17 (Reuters) - Russia wants the United Nations Security Council to ask for an independent inquiry into September attacks on the Nord Stream gas pipelines, connecting Russia and Germany, that spewed gas into the Baltic Sea. Russia gave the 15-member council a draft resolution on Friday, seen by Reuters, which would ask U.N. Secretary-General Antonio Guterres to establish an international investigation into the "sabotage" and identify who was to blame. A council resolution needs at least nine votes in favor and no vetoes by the United States, Britain, France, China or Russia to pass. This means a vote could coincide with meetings of the U.N. General Assembly and Security Council to mark the first anniversary of Moscow's invasion of Ukraine. The United States and the North Atlantic Treaty Organization have called the incident "an act of sabotage."

☆ Syrian rescue group criticises UN over Assad say on aid deliveries
▼ + stars: | 2023-02-14 | by ( Suleiman Al-Khalidi | ) www.reuters.com time to read: +2 min

Syrian Presidency/Handout via REUTERSAMMAN, Feb 14 (Reuters) - The head of a Syrian opposition-run rescue group on Tuesday denounced a U.N. decision to give Syrian President Bashar al Assad authorisation over aid deliveries through border crossings with Turkey, saying it gave him "free political gain". U.N. Secretary-General Antonio Guterres said on Monday Assad had agreed to allow U.N. aid deliveries to opposition-held northwest Syria through two crossings on the border with Turkey for three months. Rescuers and aid groups have complained about the slow delivery of aid after the earthquake. U.N. officials have acknowledged aid was slow initially but said they were stepping up deliveries, including getting supplies from Turkey. Large deliveries of aid from Saudi Arabia and Qatar have begun arriving in the rebel-held enclave ahead of U.N. deliveries, Saleh said.

☆ UN chief says Syria's Assad agrees to expand UN aid access from Turkey
▼ + stars: | 2023-02-13 | by ( Michelle Nichols | ) www.reuters.com time to read: +2 min

Assad agreed to open the crossings of Bab Al-Salam and Al Ra'ee, Guterres said in a statement after UN aid chief Martin Griffiths met with the Syrian president in Damascus on Monday. Griffiths told the UN Security Council of Assad's decision during a closed-door meeting, diplomats earlier told Reuters. "Opening these crossing points - along with facilitating humanitarian access, accelerating visa approvals and easing travel between hubs - will allow more aid to go in, faster," he added. A devastating earthquake struck Turkey and Syria a week ago, killing more than 37,000 people. The Syrian government had opposed the aid deliveries across its border, describing it as a violation of its sovereignty.

☆ U.S. urges U.N. vote to approve more aid access to Syria via Turkey
▼ + stars: | 2023-02-12 | by ( Michelle Nichols | ) www.reuters.com time to read: +3 min

Since 2014 the U.N. has been able to deliver aid to millions of people in need in the northwest part of war-torn Syria through Turkey under a Security Council mandate. 'FAILED'On the 15-member Security Council, Brazil and Switzerland take the lead on negotiating any action related to the Syria humanitarian aid access issue. The death toll from the earthquake last week in Turkey and Syria passed 33,000 on Sunday. The ambassadors of Brazil and Switzerland said on Friday they wanted Griffiths to brief the Security Council before any action was discussed. "We have so far failed the people in northwest Syria," Griffiths said in a post on Twitter.

[1/4] Survivors rest while a woman reacts at a hospital in the aftermath of an earthquake, in Kahramanmaras, Turkey February 10, 2023. REUTERS/Suhaib Salem 1 2 3 4Authorities say some 6,500 buildings in Turkey collapsed and countless more were damaged. The U.S. Agency for International Development will provide $85 million in urgent humanitarian assistance to Turkey and Syria. SYRIA OVERWHELMEDIn Syria, relief efforts are complicated by a conflict that has partitioned the country and wrecked its infrastructure. The Syrian government views the delivery of aid to rebel-held areas from Turkey as a violation of its sovereignty and territorial integrity.

☆ Frustration at UN ahead of likely row with Russia on Syria aid
▼ + stars: | 2023-02-10 | by ( Michelle Nichols | ) www.reuters.com time to read: +3 min

With the death toll in Turkey and Syria passing 23,000, some diplomats expressed frustration on Friday that the 15-member council has been slow to act after Secretary-General Antonio Guterres pressed for more access to northwest Syria via Turkey. The UN Security Council needs to step up and get it done," said a UN diplomat familiar with discussions, speaking on condition of anonymity. Since 2014 the United Nations has been able to deliver aid to millions of people in need in the northwest of war-torn Syria through Turkey under a Security Council mandate. The United Nations has long said that challenges to increasing aid deliveries across frontlines include receiving timely security guarantees and approvals and a lack of funding. UN aid via Turkey reached 2.7 million people a month in northwest Syria last year, compared with 43,500 people a month who received aid from routes within Syria since August 2021.

Damascus has long said aid to the rebel enclave in the north should go via Syria not across the Turkish border. Jordan and the UAE, which once backed Syria's opposition but have normalised ties with Assad in recent years, have sent aid to Damascus, Syrian state media has reported. WRANGLE OVER RESOURCESMoscow has long argued that delivering aid to northwest Syria from Turkey violates Syrian sovereignty. But he said aid flows must be coordinated with the government and delivered through Syria not across the Turkish border. The Damascus-based Syrian Red Crescent called for lifting of sanctions, which Syria's government has long blamed for mounting economic hardship.

☆ Oil rises as U.S. recession fears ease and dollar slips
▼ + stars: | 2023-02-01 | by ( ) www.cnbc.com time to read: +2 min

Oil prices climbed on Wednesday underpinned by a weaker dollar, which fell on signs of slowing inflation in the United States, easing fears that the world's largest oil user may face a recession because of further interest rate hikes. Tamer rate hike expectations helped lower the dollar index , which supported oil prices as a weaker greenback makes the commodity cheaper for buyers holding other currencies. OPEC oil output fell in January, as Iraqi exports dropped and Nigeria's output did not recover, with the 10 OPEC members pumping 920,000 barrels per day (bpd) below the group's targeted volumes under the OPEC+ agreement, a Reuters survey found. That was a bigger build than the 400,000 barrels that analysts polled by Reuters had expected on average. Distillate stocks, which include diesel and heating oil, rose by about 1.5 million barrels, contrary to analysts' expectations of a 1.3 million barrel drop.

☆ Israeli army reinforces in West Bank after synagogue shooting
▼ + stars: | 2023-01-28 | by ( Maayan Lubell | ) www.reuters.com time to read: +5 min

Friday night's shooting came a day after the deadliest Israeli raid in the West Bank in years and cross-border fire between Israel and Gaza that heightened fears of a spiral in bloodshed. On Saturday, the Israeli ambulance service said two people were hurt in what appeared to be another shooting attack. "Following an IDF (Israeli Defence Forces) situational assessment, it was decided to reinforce the Judea and Samaria (West Bank) Division with an additional battalion," the military said. It came days before a planned visit by U.S. Secretary of State Antony Blinken to Israel and the West Bank. Violence in the West Bank surged after a spate of lethal attacks in Israel last year.

Increasingly, they said conversations in C-suites and with financiers had turned to the risks that climate change presented to businesses. Climate activist Greta Thunberg made the journey up the Swiss Alps to call on the global energy industry and its financiers to end all fossil fuel investments. Suni Harford, the president of UBS's asset management arm who leads the bank's sustainability efforts, said her conversations at Davos suggested no let up in focus on climate, despite the shorter-term pressures. "Clients are becoming ever more informed on the energy transition, demand for sustainable and green products has held up well, and clients are increasingly looking to measure the impact of their portfolios." "Put forward credible and transparent transition plans on how to achieve net zero – and submit those plans before the end of this year," Guterres said in a speech.

☆ Davos 2023: Big oil comes in from the cold on energy transition
▼ + stars: | 2023-01-20 | by ( Maha El Dahan | ) www.reuters.com time to read: +6 min

CHINA OUT./File Photo/File PhotoSummarySummary Companies Energy transition front and centre at Davos meetingEurope energy crisis forces moment of reckoningClimate activists sceptical of oil industry inclusionDAVOS, Switzerland, Jan 20 (Reuters) - A different type of energy transition has taken place at this year's World Economic Forum (WEF) meeting. Unlike 2021's COP26 climate conference in Glasgow, where oil and gas executives were personae non gratae, fossil fuel chiefs and renewable energy bosses sat cheek by jowl in Davos. Thunberg's was not the only voice at Davos with strong objections to the industry's new mantra that the energy crisis justifies new oil investments. Like Birol, British opposition leader Keir Starmer said the oil and gas sector has a role to play in the energy transition. Jaber, who is the founding CEO of Abu Dhabi’s renewable energy firm Masdar and has overseen the UAE's mandate to adopt renewables is not without green credentials.

☆ Premarket stocks: What we learned at Davos: The economy is a mess, but there's still hope
▼ + stars: | 2023-01-20 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +8 min

New York CNN —Friday marks the end of the annual World Economic Forum meeting in Davos, Switzerland, an elite gathering of some of the wealthiest people and world leaders. The meetings between CEOs, politicians, and global figures at Davos can help set the tone for the year ahead. CEOs and political officials are also worried about the United States hitting its borrowing cap on Thursday, forcing the Treasury Department to start taking “extraordinary measures” to keep the government open. If an agreement isn’t reached, markets could plunge (like they did the last time this happened in 2011) and the United States risks having its credit rating downgraded again. China’s removal of strict coronavirus restrictions late last year is also expected to unleash a wave of spending that may offset economic weakness in the United States and Europe.

☆ Top diplomats, former UN officials seek to fix 'Wild West' of peacemaking
▼ + stars: | 2023-01-20 | by ( Emma Farge | ) www.reuters.com time to read: +3 min

But the framework's proponents, who have just completed a two-year consultation period in dozens of countries, say today's peace brokers are applying the wrong strategy. "You could say 'Why the hell are people talking about peace when the whole thing falls apart?' "Right now the peacemaking space is like the Wild West," said Hiba Qasas, the executive director of the Principles for Peace Initiative, who is Palestinian and a former U.N. official. Current shortcomings are widely acknowledged and U.N. chief Antonio Guterres is working on a so-called "New Agenda For Peace" this year. (This story has been corrected to change "UN officials" to "former UN officials" in the headline)Reporting by Emma Farge; Editing by Hugh LawsonOur Standards: The Thomson Reuters Trust Principles.

☆ Davos 2023: What you need to know about the WEF on Wednesday
▼ + stars: | 2023-01-18 | by ( Kathryn Lurie | ) www.reuters.com time to read: +2 min

DAVOS, Switzerland, Jan 18 (Reuters) - Climate change came to the fore at the World Economic Forum's annual meeting, where U.N. Secretary-General Antonio Guterres called on business leaders to follow the principles outlined by an expert group to make credible net-zero pledges or risk greenwashing. The United Nations and standard setter the International Organization for Standardization launched the guidelines in November to become a reference text and help organizations come up with solid plans, avoiding slogans, hype and obfuscation. With activist Greta Thunberg set to arrive in Davos and meet International Energy Agency (IEA) executive director Fatih Birol on Thursday, climate change is set to remain centre stage. China could see a sharp recovery in economic growth from the second quarter onwards based on current infection trends after the dismantling of most COVID-19 restrictions, Gopinath said. For daily Davos updates in your inbox sign up for the Reuters Daily Briefing hereEditing by Alexander SmithOur Standards: The Thomson Reuters Trust Principles.

☆ UN chief slams fossil fuel industry expansion in Davos speech
▼ + stars: | 2023-01-18 | by ( Ivana Kottasová | ) edition.cnn.com time to read: +3 min

Guterres pointed blame squarely at the fossil fuel industry when addressing the Davos crowd, composed of billionaires, politicians and business leaders, including dozes of high level executives from the world’s biggest oil and gas companies. And like the tobacco industry, those responsible must be held to account,” Guterres told the conference. A new report published on Tuesday by the campaign group Reclaim Finance revealed that dozens of banks and financial institutions with net zero pledges are still pouring money into fossil fuels. Since signing, however, it found members have invested hundreds of billions into fossil fuels. Guterres called on companies to “put forward credible and transparent transition plans on how to achieve net zero,” by the end of 2023.

☆ ‘Big Oil peddled the big lie’: UN chief slams energy giants for ignoring their own climate science
▼ + stars: | 2023-01-18 | by ( Sam Meredith | ) www.cnbc.com time to read: +2 min

U.N. Secretary-General Antonio Guterres said that without further action, humanity was on course for a global temperature increase of 2.8 degrees Ceslius. "Some in Big Oil peddled the big lie," Guterres said during a special address at the World Economic Forum in Davos, Switzerland. The study, published last week in the journal Science, said that Exxon's private projections of global temperature rise were often more accurate than world-leading NASA scientists. The burning of fossil fuels, such as coal, oil and gas, is the chief driver of the climate emergency. Guterres said that without further action, humanity was on course for a global temperature increase of 2.8 degrees Celsius.

☆ Taliban officials praise Afghanistan's first sports car. It has an engine from a 2000 Toyota Corolla.
▼ + stars: | 2023-01-16 | by ( Lloyd Lee | ) www.businessinsider.com time to read: +3 min

The car's power relies on a modded 2000 Toyota Corolla engine, according to a Tolo News report. The Taliban's spokesperson shared a video of the car, called Mada 9, doing donuts in the snow. There are no videos of the car moving at high speeds or making difficult maneuvers outside of the video shared by the Taliban's spokesperson. Mohammad Riza Ahmadi, the designer of Mada 9, told Tolo News that he hopes the car will be a beacon for the embattled country. Ahmadi, the car designer, told Tolo News that the car has received offers but is not for sale.

☆ Just one G-7 leader will join the Davos elite this year as regular people battle cost-of-living crisis
▼ + stars: | 2023-01-13 | by ( Jenni Reid | ) www.cnbc.com time to read: +2 min

The Congress Center, the venue for the World Economic Forum (WEF), center, in Davos, Switzerland, on Saturday, Jan. 7, 2023. It is not the first time the summit has been sparsely attended by leaders from the powerful political union. That included former U.S. leader Donald Trump, who attended twice during his one term in office, unlike his predecessor Barack Obama, who never attended. His own predecessor, Angela Merkel, was a regular Davos presence during her 16-year term, most recently challenging the increasing "own interests first" mentality of some nations in 2019. "I expect it is partly reputational risks, given the current situation, of enjoying the high life in Davos," he said.

☆ U.N. chief says onus on North Korea to return to talks
▼ + stars: | 2023-01-12 | by ( Michelle Nichols | ) www.reuters.com time to read: +3 min

North Korea has been subject to U.N. sanctions since 2006 over its nuclear and ballistic missile programs. So-called six-party denuclearization talks - between North Korea, South Korea, China, the United States, Russia and Japan - stalled in 2009. "The onus is on the DPRK to comply with its international obligations and return to the negotiating table," said Guterres, using North Korea's formal name. The United States has said that its up to North Korea to decide whether it will engage in talks on its nuclear weapons program. North Korea has rebuffed U.S. entreaties for diplomacy since President Joe Biden succeeded Trump in January 2021.

☆ Donors pledge more than $9 billion for Pakistan’s flood recovery
▼ + stars: | 2023-01-10 | by ( ) edition.cnn.com time to read: +3 min

Officials from some 40 countries as well as private donors and international financial institutions gathered at a meeting in Geneva as Islamabad sought funds to cover around half of a recovery bill amounting to $16.3 billion. The meeting’s co-hosts, the United Nations and Pakistan’s government, said more than $9 billion had been pledged from bilateral and multilateral partners. Among the donors were the Islamic Development Bank ($4.2 billion), the World Bank ($2 billion), Saudi Arabia ($1 billion), as well as the European Union and China, Pakistan Information Minister Marriyum Aurangzeb said. “Today has truly been a day which gives us great hope,” said Hina Rabbani Khar, Pakistan’s minister of state for foreign affairs. Millions of homes, tens of thousands of schools as well as thousands of kilometers of roads and railways still need to be rebuilt, the UN says.

☆ U.N. gathering seeks billions in aid for Pakistan after devastating floods
▼ + stars: | 2023-01-09 | by ( Associated Press | ) www.nbcnews.com time to read: +6 min

“We need to be honest about the brutal injustice of loss and damage suffered by developing countries because of climate change,” Guterres told the gathering. “If there is any doubt about loss and damage — go to Pakistan. UN Secretary-General Antonio Guterres, left, speaks with Pakistan Prime Minister Shehbaz Sharif during a conference in Geneva on Monday. Many countries already doled out cash, supplies and other support for Pakistan in the immediate follow-up to the flooding. Climate scientists found that the floods in Pakistan were worsened by global heating although economic, societal and construction-oriented factors also played a role.

☆ UN chief calls for 'massive investments' for Pakistan recovery
▼ + stars: | 2023-01-09 | by ( ) www.reuters.com time to read: +1 min

September's floods, which are still receding, killed at least 1,700 people and displaced around 8 million. "We must match the heroic response of the people of Pakistan with our own efforts and massive investments to strengthen their communities for the future," Guterres said in opening remarks. "Pakistan is doubly victimized by climate chaos and a morally bankrupt global financial system," he added, calling for creative ways for developing countries to access debt relief and financing. In a video message, France President Emmanuel Macron pledged $10 million in additional aid support. Reporting by Emma Farge, Gabrielle Tétrault-Farber in Geneva and Asif Shahzad in Islamabad, editing by Ed OsmondOur Standards: The Thomson Reuters Trust Principles.

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