First UN talks to save oceans kick off Monday

June 4, 2017

Miami, Jun 4: World leaders convene at UN headquarters next week for the first major bid to solve the toughest problems facing our oceans, from coral bleaching to plastic pollution, overfishing and rising seas due to climate change.

oceans

The Ocean Conference in New York June 5-9 attempts to rally nations big and small to make meaningful changes to preserve what is arguably the Earth's most important resource, experts say.

US President Donald Trump's recent decision to withdraw from the Paris climate accord is expected to be a hot topic at the talks, which no high-ranking US officials are expected to attend.

But despite Trump's decision Thursday to end US participation in the Paris deal, which drew worldwide condemnation, experts at the Pew Charitable Trust said the United States has been a part of crafting a broad “call to action,” and is expected to sign it.

“We are committed to halting and reversing the decline in the health and productivity of our ocean,” says the three-page document, which also expresses alarm at the impact of climate change on the ocean.

The call to action is expected to be signed and released some point during the week-long conference, which will bring government officials, ocean advocates and some heads of state to New York.

The US pullout from Paris means other nations will lead the way at the UN talks, particularly small island nations that have the most to lose.

“How can you worry about someone who is not in the room?” said Ambassador Ronny Jumeau, permanent representative to the United Nations for Seychelles.

“Look at who is here, who is sitting in the front row, and say, 'Now what are we going to do about this?'“

The world just marked its three hottest years in modern times. And the oceans have absorbed about one third of the carbon dioxide released by human activities, protecting the planet from the full brunt of climate change.

Melting glaciers and sea ice at the poles threatens swell sea level to the point of washing away entire islands and populated coastlines — home to 37 percent of the planet's population — in the coming decades.

Just 20 inches (half meter) of sea level rise could displace 1.2 million people from islands in the Caribbean Sea, Indian and Pacific Oceans.

Recent studies have shown the troubling extent of plastic pollution, even in the most remote parts of the world.

An uninhabited island in the south Pacific, Henderson Island, thousands of miles from civilization was recently shown to be piling up more than 3,500 pieces of plastic per day.

Even year, more than eight million ton of plastic washes into the oceans, costing at least $8 billion in damage to marine ecosystems and killing an estimated one million sea birds, 100,000 sea mammals and untold numbers of fish.

And famous coral reefs, such as Australia's Great Barrier Reef, are suffering from hot temperatures like never before in modern times, with mass bleaching and die-offs continuing unabated for the past two years.

“Small island states cannot afford to be dismayed or feel down or depressed about any of this,” said Jumeau during a UN press conference.

“We are reaching out to all the friends of the oceans that you can think of to meet the challenges that we face.”

Previous global meetings on problems facing the oceans have taken place, but the World Wildlife Fund's John Tanzer described this one as “historic” because the talks are under the auspices of the United Nations for the first time.

“The reality is that oceans have been in steep decline for at least the last 50 or 60 years,” Tanzer, global oceans lead at WWF, told AFP.

“Here we are in 2017, and it is impossible to talk of anywhere in the world's oceans as being pristine,” he said.

Specifically, nations will talk about how to meet the 2015 UN-adopted Sustainable Development Goal 14, to “conserve and sustainably use the oceans, seas, and marine resources.”

Targets include protecting at least 10 percent of coastal and marine environments by 2020, reducing ocean pollution and strengthening ways to fight illegal, unreported, and unregulated fishing.

A recent report found that illegal fishing in the Pacific has reached a “staggering” value of up to $740 million a year, with much of the problem blamed on fleets from the US, Asia and Europe which under-report their catches.

Individual nations and advocacy groups are already announcing voluntary steps they will take to conserve oceans and protect marine life.

Those pledges will be updated throughout the conference, and can be seen online at https://oceanconference.un.org/commitments.

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News Network
April 24,2020

Washington, Apr 24: The number of coronavirus cases in the US has surpassed 850,000, Johns Hopkins University Coronavirus Resource Center data revealed on Thursday (local time).
The country now has registered 8,56,209 cases overall, according to the data, including 47,272 deaths.

The US currently leads the world in the number of reported COVID-19 deaths and confirmed cases.

There are more than 2.6 million COVID-19 cases around the world and more than 1,85,000 deaths, according to the data.

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News Network
July 20,2020

Paris, Jul 20: Two coronavirus vaccine candidates have proven safe for humans and produced strong immune reactions among patients involved in separate clinical trials, doctors said on Monday.

The first trial among more than 1,000 adults in Britain found that the vaccine induced "strong antibody and T cell immune responses" against the novel coronavirus.

A separate trial in China involving more than 500 people showed most had developed widespread antibody immune response.

The studies, published in The Lancet medical journal, constitute a major step on the road towards a COVID-19 vaccine that is effective and safe for widespread use.

The authors of the studies said that they encountered few adverse side-effects from the vaccine candidates.

However, they cautioned that more research was needed, particularly among older adults, who are disproportionately at risk of dying of COVID-19.

Co-author Sarah Gilbert from the University of Oxford said the results "hold promise".

"If our vaccine is effective, it is a promising option as these types of vaccine can be manufactured at large scale."

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News Network
July 27,2020

Tokyo, Jul 27: Gold hit an all-time high on Monday as tit-for-tat consulate closures in China and the United States rattled investors, boosting the allure of safe-haven assets, although sentiment was mixed with tech gains supporting some Asian stocks.

MSCI's ex-Japan Asia-Pacific index rose 1.3 percent as Taiwan's TSMC, Asia's third-largest company by market capitalisation, rose almost 10 percent.

The chipmaker's gains boosted other tech stocks in the region and came after rival Intel signalled it may give up manufacturing its own components due to delays in new 7-nanometer chip technology.

Also soothing sentiment, Chinese shares eked out gains after big falls late last week, with CSI300 index rising 0.5 percent.

S&P500 futures were last up 0.4 percent in choppy trade while Japan's Nikkei fell 0.5 percent, resuming trade after a long weekend and catching up with falls in global shares late last week.

Global shares had lost steam last week after Washington ordered China's consulate in Houston to close, prompting Beijing to react in kind by closing the US consulate in Chengdu.

US Secretary of State Mike Pompeo took fresh aim at China last week, saying Washington and its allies must use "more creative and assertive ways" to press the Chinese Communist Party to change its ways.

"US President (Donald) Trump used to say China's President Xi Jinping is a great leader. But now Pompeo's wording is becoming so aggressive that markets are starting to worry about further escalation," said Norihiro Fujito, chief investment strategist at Mitsubishi Securities.

Gold rose 1.0 percent to a record high of $1,920.9 per ounce, surpassing a peak touched in September 2011, as Sino-US tensions boosted the allure of safe-haven assets, especially those not tied to any specific country.

The yellow metal is also helped by aggressive monetary easing adopted by many central banks around the world since the pandemic plunged the global economy into a recession.

Some investors fret such an unprecedented level of money-printing could eventually lead to inflation.

MORE STIMULUS

Hopes of a quick US economic recovery are fading as coronavirus infections showed few signs of slowing.

That means the economy could capitulate without fresh support from the government, with some of earlier steps such as enhanced jobless benefits due to expire this month.

Investors hope US Congress will agree on a deal before its summer recess but there are some sticking points including the size of the stimulus and enhanced unemployment benefits.

US Treasury Secretary Steve Mnuchin said the package will contain extended unemployment benefits with 70 percent "wage replacement".

Democrats, who control the House of Representatives, want enhanced benefits of $600 per week to be extended and look to much bigger stimulus compared with the Republicans' $1 trillion plan.

Investors are looking to corporate earnings from around the world for hints on the pace of recovery in the global economy.

"It looks like rising coronavirus cases are starting to slow down recovery in many countries," said Masahiro Ichikawa, senior strategist at Sumitomo Mitsui DS Asset Management.

Concerns about the US economic outlook started to weigh on the dollar, reversing its inverse correlation with the economic well-being over the past few months.

The dollar index dropped 0.3 percent to its lowest level in nearly two years.

The euro gained 0.3 percent to $1.1693, hitting a 22-month high of $1.16590 as sentiment on the common currency improved after European leaders reached a deal on a recovery fund in a major step towards more fiscal co-operation.

Against the yen, the dollar slipped 0.5 percent to 105.605 yen, a four-month low while the British pound hit a 4 1/2-month high of $1.2832.

Oil prices dipped on worries about the worsening Sino-US relations.

Brent futures fell 0.46 percent to $43.14 per barrel while US crude futures lost 0.44 percent to $41.11.

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