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    Common Dreams. To inform. To inspire. To ignite change for the common good.
    Common Dreams Globe
    LATEST NEWSOPINIONCLIMATEECONOMY POLITICS RIGHTS & JUSTICEWAR & PEACE
    LATEST NEWS
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    Common DreamsTo inform. To inspire. To ignite change for the common good.

    developing countries

    Police watch as a massive wildfire burns over Lake Oroville in California

    2024 Still on Track to Be First Full Year That Breached 1.5°C

    "No surprise at all, but still shocking news. Will temperatures drop below 1.5°C again? I have my doubts," said one climate scientist.

    Eloise Goldsmith
    Dec 09, 2024

    Data from the first 11 months of 2024 reaffirmed that the globe is set to pass a grim milestone this year, according to the European Union's earth observation program.

    The E.U.'s Copernicus Climate Change Service (C3S) said in a report Monday that November 2024 was 1.62°C above the preindustrial level, making it the 16th month in a 17-month stretch during which global-average surface air temperature breached 1.5°C. November 2024 was the second-warmest November, after November of last year, according to C3S.

    Keep ReadingShow Less
    climate emergency
    climate-emergency
    An activist speaks into a megaphone.

    'Unacceptable': Campaigners Decry Climate Finance Failures as COP29 Enters Final Hours

    "By the end of the UN climate talks, we must see at least a trillion dollars in public finance on the table," said one campaigner.

    Eloise Goldsmith
    Nov 21, 2024

    As the clock winds down at the UN climate summit taking place in Baku, Azerbaijan, green groups are sounding the alarm Thursday following the release of a draft climate finance deal that they say falls short of what's needed to support climate-vulnerable countries and adequately address the planetary crisis.

    "The clock is ticking. COP29 is now down to the wire," said UN Secretary-General António Guterres on Thursday, just a day before the two-week conference is set to conclude.

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    carbon credits
    cop29
    Ukrainian President Volodymyr Zelensky shakes hands with International Monetary Fund (IMF) Director Kristalina Georgieva

    The US Can Make Billions Available to Ukraine at No Cost to Itself

    Indebted middle-income countries like Ukraine should not be expected to subsidize IMF lending when better alternatives exist. And the U.S. has more than enough influence to help the international lending body change course on these counterproductive policies.

    Manasi Karthik
    Oct 04, 2024

    The United States has a chance to save Ukraine billions of dollars, and at no cost to U.S. taxpayers, by pushing for an end to the unfair and harmful surcharge policy of the International Monetary Fund (IMF).

    The IMF is currently reviewing this surcharge policy, which hits Ukraine—and other highly indebted borrowers like Kenya, Ecuador, Argentina, Barbados, and Egypt—with additional charges on top of standard interest and service fees. Human rights and development experts consider surcharges to be counterproductive and contrary to international human rights law. The IMF should take this opportunity to permanently end its surcharge policy for highly indebted borrowers.

    Keep ReadingShow Less
    developing countries
    ukraine
    Pakistan flooding victims

    COP28 Loss and Damage Fund Called 'Drop in the Ocean'

    The United States' contribution of $17.5 million, in particular, was denounced as "embarrassing" for the wealthiest country in the world.

    Julia Conley
    Nov 30, 2023

    International campaigners who for years have demanded a global "loss and damage" fund to help developing countries confront the climate emergency were encouraged on Thursday as the 28th United Nations Climate Change Conference began with an agreement to make the fund operational—but said the details of the deal made clear that wealthy countries are still largely abandoning communities that have contributed the least fossil fuel emissions, only to suffer the worst climate injustices.

    A recent study from the University of Delaware showed that "the unweighted percentage of global GDP lost" due to climate impacts such as long-lasting drought, catastrophic flooding, and wildfires is estimated at 1.8%, or about $1.5 trillion, and low- and middle-income countries "have experienced $2.1 trillion in produced capital losses due to climate change."

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    climate emergency
    loss-and-damage-fund

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