From Climate Change to Development Finance

Feeding a growing world as it faces climate change. Global food systems were a focus at the Global Climate Action Summit in San Francisco as The Global Environment Facility has announced a USD $500 Million commitment to a new initiative focused on food systems and FoodShot Global, a platform to ‘connect innovations for a more sustainable food system with the mentorship and investment they need,’ was launched by The Rockefeller Foundation and UC Davis among others.
Amazon’s Bezos Finally Sketches Out His Philanthropic Vision. Jeff Bezos has spoken to Bloomberg about his plans for his newly announced Day One Fund, giving new details about how Bezos intends to structure and manage his philanthropic efforts. Related: Unanswered questions about Jeff Bezos’ new $2 billion philanthropic fund
Global carbon prices too low to combat climate change – OECD The OECD has issued a report into carbon pricing in ‘major advanced economies’ which found that current prices are too low to cut greenhouse gas emissions and avert the worst effects of global warming. Related: Why Growth Can’t Be Green
The Divestment Movement to Combat Climate Change Is All Grown Up. As the cities of New York and London join Ireland in committing to divesting all public funds from fossil fuels advocates for the divestment movement are looking to ramp up their efforts and increase public pressure on companies and governments to follow suit. Related: As New York and London mayors, we call on all cities to divest from fossil fuels
EU institutions cross swords over future of development finance. The European Commission and the European Investment Bank are at odds over the future of European development finance. Both institutions want to run a ‘platform’ of European Development Actors and each feels they are better suited to the task with the European Commission arguing it can provide a stronger policy steer and the European Investment Bank arguing its role as the EU Bank and its track record supporting projects outside the bloc mean it should lead any platform.
OECD criticizes Canada for cutting foreign aid. An OECD report has criticised Canadian foreign aid spending, calling on the country to ‘increase foreign aid flows in line with its renewed engagement.’ Under the current government, Canada’s Official Development Assistance has declined to 0.26% of gross national income, below the average of 0.32% of other OECD countries, and well short of the 0.7% internationally agreed target. The report comes as Canada campaigns to be a member of the next UN Security Council.
Zambia aid payments suspended over corruption allegations. The UK has joined UNICEF and several countries including Ireland, Finland, and Sweden, in suspending aid to Zambia following allegations of fraud and embezzlement of aid payments published in Africa Confidential this week.. Related: Zambia sacks minister over claims UK aid cash was embezzled
Jeff Bezos is donating money to fix a problem his company perpetuates. As Jeff Bezos announces his commitment to combatting homelessness with the Day One Fund, critics argue he is simply trying to launder his reputation. Bezos’s focus on homelessness has drawn particular ire due to Amazon’s treatment of workers which has led to some being forced into homelessness following workplace injuries and the company’s expenditure of vast resources to lobby against a tax on large companies to combat homelessness in their home city of Seattle.
5 stories to watch during the UN General Assembly in New York. A rundown of some of the key stories to watch as the UN General Assembly gets underway this week.
Senior UN gender and youth official sacked over sexual misconduct. UN Women has formally dismissed Ravi Karkara, a senior agency official, following a near 15 month long investigation into accusations of sexual misconduct.
Utilities have a problem: the public wants 100% renewable energy, and quick. The Edison Electric Institute, an American trade group for utilities, has found that despite reluctance in the energy sector, there is overwhelming support for electricity companies use 100% renewable energy in their supply, even if it would lead to a 30% price increase
Save the Children Appoints Three New Board Members. Save the Children International has added three members to its Board of Advisors: Gabriela Hearst, a Uruguay-born, New York-based womanswear designer who launched her own eponymous label in 2015, Judee Ann Williams co-head of CAA Social Impact at the talent and sports agency, Creative Artists Agency, and Peter Fasolo Chief Human Resources Officer and Executive Vice President for Johnson & Johnson.