economics

In the early hours of the morning, after more than two weeks of negotiations and on the verge of collapse, participants at COP29 in Baku (Azerbaijan) reached an agreement to set the new climate finance target. In the end, at least 300 billion dollars a year will be contributed by rich countries to the least developed countries until 2035, within a broader global commitment of up to 1.3 trillion dollars directed at these same countries. The renewal of this target was part of the Paris Agreement and will enable governments to support developing countries in their climate action on adaptation, mitigation and damage from the climate crisis. The previous target - set at the Copenhagen Summit in 2009 - was $100 billion per year.

An international report by the Global Commission on the Economics of Water says the water crisis puts more than half of the world's food production at risk by 2050. It also claims that it threatens an average loss of 8% of GDP in countries around the world by 2050, with losses of up to 15% in the lowest income countries. 
 

Analysis of 1,500 climate policies implemented in 41 countries over the last two decades - between 1998 and 2022 - shows that a small proportion - 63 of them - achieved a significant reduction in carbon dioxide emissions. The study, published in Science, indicates that a significant decrease in these emissions was recorded in the transport sector in Spain. According to the authors, the combination of several policy instruments is often more effective than the use of single measures.

In an analysis published in Cell Reports Sustainability, an international team of researchers proposes a regular cash payment for the entire world population, which could increase global Gross Domestic Product (GDP) by 130 %. According to the authors, this basic income could be paid for, in part, by a tax on carbon emitters, which would also help to reduce environmental degradation.  

The global economy could lose, on average, 19% of income by 2049 due to increased carbon emissions over the past four decades, says an analysis published in Nature. To estimate the future economic damages of climate change, the authors used temperature and precipitation data for 1,600 regions worldwide in the past 40 years. Low-income countries will be more affected by these losses than higher-income countries, the authors warn. 

Eighty-two percent of EU farm subsidies articulated through the Common Agricultural Policy (CAP) financed high-emission livestock production in 2013, according to a study published in Nature Food. The analysis, which is based on data from 1986 to 2013 - the latest year for which records are available - highlights that 82% went to animal products in the following proportions: 38% directly and 44% for feed production. The authors note that food of animal origin is associated with 84 % of the greenhouse gases emitted by EU food production. 

With just days to go before COP28 kicks off in Dubai -a major city in the oil-rich United Arab Emirates- climate experts are torn between mistrust and hope that world leaders will reach ambitious agreements to combat the climate crisis.

Living as a private renter is associated with faster biological ageing than owning a home, according to a study using a UK database with data available on 1,420 people. The team, whose research is published in the Journal of Epidemiology and Community Health, used DNA methylation data - chemical modifications - to measure people's biological age, and says this correlation is stronger than the association between biological ageing and unemployment, or having been a smoker. Apart from blood samples from the database, the research also used historical data from a national survey.

Capping the consumption of European households who consume most energy - those with the highest incomes and education levels - could achieve "considerable emissions reductions", according to a UK research team. This benefit could also be achieved by simultaneously increasing the consumption of the poorest and most vulnerable users. The analysis, published in Nature Energy, estimates that limiting the energy use of the top 20 % of consumers in 27 countries in Europe would reduce emissions from domestic energy consumption by 11.4 %, 16.8 % from transport, and 9.7 % from total energy consumption. The article states that the association between high income and high energy consumption is particularly strong in countries such as Spain, where income inequality is relatively high.

A series on breastfeeding published today in The Lancet highlights the economic and political power of formula companies, examines their marketing practices and the impact this has on the health of mothers and children.