Esther Duflo: Rich world owes $500bn in ‘moral debt’ to poor countries - on.ft.com/3xKfgup via Financial Times

My message in the US this week - with Labour the UK would:

➡️Restore development as a key pillar of our internationalism.

➡️Bring new and creative ideas to the table on debt, climate & private finance.

➡️Support partners in the Global South to eliminate poverty through growth.

at the spring meetings of @imfnews & World Bank this week, many of the world’s policymakers were acting as if the worst debt crisis since the 1980s, by portion of world population affected, had come to an end. In reality, the crisis rolls on.
economist.com/finance-and-ec…

China power generating capacity additions in Jan-Mar 2024:
solar 45.7 GW (vs 33.7 GW in 2023)
wind 15.5 GW (10.4)
thermal 6.4 GW (8.1)
hydro 1.8 GW (2.7)
nuclear 0 GW (1.2)

Last year, almost 300 GW wind&solar was added and now the first months are up 40%!

energylivenews.com/2024/04/18/bri…

theguardian.com/environment/20…

theguardian.com/environment/20…

bloomberg.com/news/articles/…

theguardian.com/environment/20…

🚨BOGA is hiring! Join our team and help end the fossil fuel era:

➡️ Senior Manager/Lead, Strategic Communications

➡️ Senior Manager, BOGA Fund

➡️ Senior Advisor/Lead, Transition Finance

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beyondoilandgasalliance.org/work-with-us/

The #COP28 UAE Consensus 🇦🇪 gave a clear signal on the need for a global transition away from #fossilfuels .

This week’s World Bank IMF #SpringMeetings marked a critical moment in turning ambition on the global transition away from fossil fuels into action.

🧵

theguardian.com/business/2024/…

Critiquing renewable energy for not meeting Primary Energy Demand is like criticising a smartphone for not using fax paper.
telegraph.co.uk/business/2024/…

news.mongabay.com/2024/04/defore…

CHART OF THE DAY: One of the biggest economic problems the world faces today - and one that hardly gets any attention.

From the IMF today: “… when accounting for population growth, the income gap [of sub-Saharan Africa] with the rest of the world is widening …”

#Africa

After the Tories tweet an advert on the UK’s soft power champions without a single woman on it, Labour tweet this. Maybe both party’s digital teams might want to pause and reflect on the messages they’re sending about half of the electorate.

“Temperatures soared above 48C in Mali last month with one hospital linking
hundreds of deaths to the extreme heat.

Researchers say human activities like burning fossil fuels made temperatures up to 1.4C hotter than normal.” bbc.co.uk/news/science-e…

U.S. Treasury Secretary Janet Yellen has said the Bretton Woods Institutions need to “evolve” to be truly efficient, especially to help deal with climate action. But these 80-year-old institutions have much deeper problems. My latest in Foreign Policy
foreignpolicy.com/2024/04/18/afr…

Big news today World Bank ‘Clean Air for a Livable Planet’ event

MIGA announced $1 billion of financial guarantees for air quality projects. Fantastic to see large sums of money allocated to clean air action

Junaid Kamal Ahmad Gina McCarthy Helen Clark Soumya Swaminathan Arunabha Ghosh

The UK’s emissions are now 53% below 1990 levels, while GDP has grown by 82% - don't anyone try to tell me decoupling emissions from the economy is impossible. And no, it's not because of imports: the collapse of primary industry was largely over by 2000.
carbonbrief.org/analysis-uk-em…