11,000 Scientists Declare Climate Emergency across the Globe, Warn of Unavoidable Human Suffering

News Network
November 6, 2019

Nov 6: More than 11,000 scientists warned Tuesday of "untold suffering" due to global warming, even as another team said Paris carbon-cutting pledges are "too little, too late".

The European Union, meanwhile, confirmed that last month was the warmest October ever registered, fast on heels of a record September and the hottest month ever in July.

Three-quarters of national commitments under the Paris climate accord to curb greenhouse gases will not even slow the accelerating pace of global warming, according to a report from five senior scientists.

The sobering assessment came a day after President Donald Trump formally notified the United Nations of the US withdrawal from the 2015 Paris climate pact, triggering concerns of how other nations might react.

"With few exceptions, the pledges of rich, middle-income and poor nations are insufficient to address climate change," said Robert Watson, who chaired both the UN Intergovernmental Panel on Climate Change (IPCC) and the UN's science body for biodiversity.

"As they stand, the pledges are far too little, too late."

In parallel, more than 11,000 scientists sounded a five-bell alarm in the peer-reviewed journal BioScience, noting that the world had failed to act on global warming despite the accumulation of evidence over 30 years.

"We declare, clearly and unequivocally, that planet Earth is facing a climate emergency," the statement said.

Emissions of the gases warming Earth's surface must drop 50 percent by 2030 and to "net zero" -- with no additional carbon entering the atmosphere by mid-century -- if the Paris treaty's goal of capping warming at 1.5 to 2.0 degrees Celsius is to be met, the IPCC concluded last year.

And yet 2018 saw unprecedented global carbon pollution of more than 41 billion tonnes, two percent higher that 2017, also a record year.

Global temperatures have increased 1 C above pre-industrial levels -- enough to boost the impact of deadly heatwaves, floods and superstorms -- and are on track to rise another two or three degrees by the end of the century.

"Failing to reduce emissions drastically and rapidly will result in an environmental and economic disaster," said James McCarty, a professor of oceanography at Harvard University, and co-author of the analysis of voluntary Paris pledges to reduce carbon pollution.

Just over half of greenhouse gas emissions from power, industry, agriculture and deforestation -- the main drivers of global warming -- came from four nations last year: China, the United States, India and Russia.

Accounting for 13.1 percent of the total, the US has turned its back on the Paris deal.

"China and India could say 'damn it, we're going to demonstrate to the world that we are climate leaders'," Watson told AFP.

- EU gets passing marks -

"Or they could say 'if the US is not going to do it, we're not going to either'. It could go either way."

China has said it will lower carbon intensity and peak emissions by about 2030.

But the size and staggering growth of its economy will likely overwhelm such marginal improvements, the scientists said.

At 29 percent of the global total, China alone pumps out more CO2 than the next three nations combined, though about 13 percent of those emissions are generated by exports destined for rich nations, recent research has shown.

India, which is ramping up both renewable energy and carbon-intensive coal-fired power, accounted for seven percent in 2018, and Russia -- which has made no pledge at all -- added 4.6 percent.

The efforts of the world's top four emitters was deemed "insufficient", according to the report.

All told, nearly three-quarters of 184 registered pledges were judged inadequate to stop climate change from continuing to accelerate in the next decade.

All but a handful are unchanged since being submitted in 2015 and 2016.

Among major economic blocs, only the European Union, with its 28 member states, got a passing mark.

"The EU is clearly in the lead in trying to address the climate crisis," Watson said.

The emissions of the world's poorest nations have been and continue to be negligible, but steps must be taken today to shape their energy futures.

"Sooner or later, they will start to grow, and we don't want them to become dependent on cheap fossil fuel energy," Watson noted.

"They need financial and technical assistance."

Under the Paris treaty, developing nations are to receive $100 billion annually from next year to help curb climate change and cope with its impacts.

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Agencies
January 7,2020

Tehran, Jan 7: The Iranian Parliament on Tuesday ratified a motion dubbed as "harsh revenge", that considers all members of the US Pentagon and those responsible for the death of Major General Qasem Soleimani as "terrorist forces".

The triple-urgency motion is a modification of a previously ratified bill on April 23, 2019, that designated the US Central Command (CENTCOM) as a terrorist organization in retaliation to the same designation imposed on Iran's Islamic Revolutionary Guard Corps (IRGC) by Washington, the Tehran-based Mehr News Agency said in a report.

Parliament Speaker Ali Larijani said in Tuesday's open session that in the previous anti-US law, CENTCOM was designated as a terrorist entity.

"Today, following the cruel US measure in assassinating General Soleimani, the responsibility of which was accepted by the US President, we modify the previous law and announce that all members of Pentagon, commanders, agents and those responsible for the martyrdom of Gen Soleimani will be considered as terrorist forces," Larijani was quoted as saying in the report.

All of Iran nation supports the resistance, he added.

The modified law also allows withdrawal of $223 million to the IRGC's Quds Force from the National Development Fund of Iran for the next two months, added Larijani.

He said that the Supreme Leader Ayatollah Ali Khamenei's permission to withdraw the fund has been obtained, the Mehr report added.

Following its ratification, MPs chanted anti-US slogans at the Parliament.

Soleimani and his son-in-law and Abu Mahdi al-Muhandis, the second-in-command of Iraq's Popular Mobilization Front (PMF), along with eight other people were killed in the January 3 drone attack ordered by US President Donald Trump.

Soleimani, 63, was the elite Quds Force chief in charge of IRGC operations outside Iran, and has been on the ground in Syria and Iraq supervising militias backed by Tehran.

The Quds Force holds sway over a large number of militias across the region ranging from Lebanon to Syria and Iraq.

The attack has led to widespread condemnation in Iran. Supreme Leader Khamenei and President Hassan Rouhani has vowed revenge on the US.

On Sunday, Iranian MP Abolfazl Aboutorabi threatened to attack the heart of American politics.

During an open session of the Iranian Parliament on Sunday afternoon, President Trump was called a "terrorist in a suit" after he threatened to hit 52 Iranian sites hard if Tehran attacks Americans or US assets.

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Agencies
July 3,2020

The dollar's dominance will slowly melt away over the coming year on weakening global demand and a sombre U.S. economic outlook, according to a Reuters poll of currency forecasters whose views depend on there being no second coronavirus shock.

Despite fears a surge in new Covid-19 cases would delay economies reopening and stymie a tentative recovery, world stocks have rallied - with the S&P 500 finishing higher in June, marking its biggest quarterly percentage gain since the height of the technology boom in 1998.

Caught between bets in favour of riskier investments, weak U.S. economic prospects as well as an easing in the thirst for dollars after the Federal Reserve flooded markets with liquidity, the greenback fell nearly 1.0 per cent last month. It was its worst monthly performance since December.

While there was a dire prognosis from the top U.S. medical expert on the coronavirus' spread, the June 25-July 1 poll of over 70 analysts showed weak dollar projections as Fed Chair Jerome Powell on Monday reiterated the economic outlook for the world's largest economy was uncertain.

"The dollar rises in two instances: when you see risk off or when there is a situation where the U.S. is leading the global recovery, and we don't think that's going to be the case anytime soon," said Gavin Friend, senior FX strategist at NAB Group in London.

"The U.S. is playing fast and loose with the virus, and chronologically they're behind the rest of the world."

Currency speculators, who had built up trades against the dollar to the highest in two years during May, increased their out-of-favour dollar bets further last week, the latest positioning data showed.

About 80 per cent of analysts, 53 of 66, said the likely path for the dollar over the next six months was to trade around current levels, alternating between slight gains and losses in a range. That suggests the greenback may be at a crucial crossroad as more currency strategists have turned bearish.

But more than 90 per cent, or 63 of 68, said a second shock from the pandemic would push the dollar higher. Five said it would push the U.S. currency lower.

Much will also depend on debt servicing and repayments by Asian, European and other international borrowers in U.S. dollars.

While an early shortage of dollars in March from the pandemic's first shock pushed the Fed to open currency swap lines with major central banks, international funding strains have eased significantly since. In recent weeks, usage of the facility has reduced dramatically.

That trend is expected to continue over the next six months with major central banks' usage of swap lines to "stay around current levels", according to 32 of 46 analysts. While 13 predicted a sharp drop, only one respondent said use of them would "rise sharply".

The dollar index, which measures the greenback's strength against six other major currencies, has slipped over 5 per cent since touching a more than three-year high in March.

When asked which currencies would perform better against the dollar by end-December, a touch over half of 49 respondents said major developed market ones, with the remaining almost split between commodity-linked and emerging market currencies.

"The dollar is so overvalued, and has been overvalued for a long time, it's time now for it to come back down again, as we head towards the (U.S.) election," added NAB's Friend.

Over the last quarter, the euro has staged a 1.8 per cent comeback after falling by a similar margin during the first three months of the year. For the month of June, the euro was up 1.2 per cent against the dollar.

The single currency was now expected to gain about 2.5 per cent to trade at $1.15 in a year from around $1.12 on Wednesday, slightly stronger than $1.14 predicted last month. While those findings are similar to what analysts have been predicting for nearly two years, there was a clear shift in their outlook for the euro, with the range of forecasts showing higher highs and higher lows from last month.

"In comparison to even a month or two ago, the outlook in Europe has improved significantly," said Lee Hardman, currency strategist at MUFG.

"I think that makes the euro look relatively more attractive and cheap against the likes of the dollar. We're not arguing strongly for the euro to surge higher, we're just saying, after the weakness we have seen in recent years, there is the potential for that weakness to start to reverse."

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News Network
May 11,2020

Kabul, May 11: Four back-to-back roadside bombs exploded in a northern district of Afghanistan's capital Kabul on Monday, wounding four civilians including a child, police said. Kabul police spokesman Ferdaws Faramarz said a clearance team was at the site of the attacks.

Militants have carried out several roadside bombings and rocket attacks in Kabul and other parts of the country in recent weeks, but Monday's four consecutive explosions appeared to be the first coordinated effort for some months.

The Taliban has not carried out any large attacks in the city since they signed a landmark withdrawal deal with the US in February, meant to pave the way for peace in the country. No group has claimed the attacks. The explosions come as authorities are trying to impose a lockdown in the capital to curb the spread of coronavirus in the country.

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