Toyota agrees to biggest wage hike in 25 years, paves way for BOJ shift
TOKYO, March 13 (Reuters) – Toyota Motor (7203.T), opens new tab agreed to give factory workers their biggest pay increase in 25 years on Wednesday, heightening expectations that bumper pay raises will
China wraps up national congress with eye on sagging economy
China’s leaders are wrapping up a weeklong key conclave at which they admitted more was needed to revive a sluggish economy battered by an ailing housing market, poor domestic demand and record-high
New report on climate risks should be “final wake-up call” for the climate crisis in Europe
A damning new EU climate risk report has warned that Europe could suffer “catastrophic” consequences from the climate crisis if it fails to take urgent and decisive action to adapt to risks. On Monday
Amazon hit with fresh strikes in ‘huge blow’ after second bid for union recognition
Amazon workers will take further strike action this month in an ongoing dispute with the delivery giant for better pay, conditions and union rights. It follows on from the GMB
The EU’s climate piggy bank is under pressure
A generation ago, the EU made a big bet: It could climate-proof Europe by making companies pay for carbon pollution. There was just one problem. That bet hinged on carbon
Europe’s Digital Markets Act is forcing tech giants to make changes. Here’s what that will look like
LONDON (AP) — Europeans scrolling their phones and computers this week will get new choices for default browsers and search engines, where to download iPhone apps and how their personal
Utilities Are Buying Pricier ‘Responsible Gas.’ But for What Climate Benefit?
Virginia Natural Gas’s aim, as it wrote in its request to the state regulator, was to “further support the reduction of greenhouse gas emissions.” As part of its “Sustainable Gas Program,” the
Poor nutrition and fewer savings: The price Latin America and the Caribbean are paying as the world’s most volatile region
When Almudena Fernández saw the final result of the numbers she had been calculating, her jaw dropped. The chief economist for Latin America and the Caribbean at the United Nations
Ecowas: west African trade bloc shaken as three member states withdraw and form their own alliance
Mali, Burkina Faso and Niger announced their immediate withdrawal from the Economic Community of West African States (Ecowas) on January 27. Ecowas, which was formed in 1975, is a regional political and
Companies in Ukraine see problems pile up, but most tough it out
KYIV/LONDON, Feb 29 (Reuters) – German supermarket chain Metro (B4B.DE), opens new tab and its 3,400 employees in Ukraine have worked hard to get their business back to where it was
EU ambassadors block the CSDDD, casting a shadow over human rights and the environment
(Wednesday 28th February) During today’s COREPER meeting, EU Ambassadors did not give their approval to the passage of the Corporate Sustainability Due Diligence Directive (CSDDD). Commenting on the outcome, Isabella Ritter,
Many Nigerians struggle to afford food amid record inflation
The streets of Lagos, Nigeria’s largest city, are packed with angry demonstrators calling to “end hardship now!” amid the West African country’s worst economic crisis in more than two decades. The protests kicked off
Petrochemical companies have known for 40 years that plastics recycling wouldn’t work
For 40 years, plastic and petrochemical companies have tried to convince the public that plastics can be recycled. But they’ve known for just as long that plastics recycling would never
How Gojek keeps its gig riders close — and away from unions
In Jakarta, gig riders for the super-app Gojek are part of peer-support groups, known as communities. These closely knit groups — created based on region, gender, and shared interests —
One Small Town Plans for Climate Change
One of the most iconic landmarks in downtown Grants Pass, Oregon, is a 100-year-old sign that arcs over the main street with the phrase “It’s the Climate” scrawled across it.
US banking giant Capital One to buy Discover Financial for $35.3bn
Banking giant Capital One has announced plans to acquire Discover Financial Services for $35.3bn in a deal combining two of the United States’s biggest lenders and credit card issuers. Capital
Tobago’s tourism, fishing hit as oil slick spreads across Caribbean
SCARBOROUGH, Tobago, Feb 16 (Reuters) – Nine days after a slick was first spotted by Trinidad and Tobago’s Coast Guard, an oil leak from a capsized barge remains unplugged, according
Ford’s CEO says the UAW strike made him consider offshoring truck jobs
Ford had a rough quarter. A half-a-billion-dollar loss and big questions about whether it made a bad bet about the transition to electric vehicles. The company is looking to save some money, and what’s
Europe’s record fall in fossil fuels – plus other top energy stories
Fossil fuel power generation in Europe declined by a record 19% in 2023, according to data from think-tank Ember, as the continent shifts towards renewables. Gas-fired electricity production fell by 15%
How the U.S. Government Began Its Decade-Long Campaign Against the Anti-Pipeline Movement
On the morning of March 5, 2012, Debra White Plume received an urgent phone call. A convoy of large trucks transporting pipeline servicing equipment was attempting to cross the Pine
Japan bets on tech, immigration as labor crisis worsens
The first sectors to feel the pinch of worker shortages were nursing and elderly care. The problem soon spread to construction and delivery businesses, followed by taxi firms, forestry companies
Exxon Mobil to explore for oil and gas in offshore area under dispute by Guyana and Venezuela
Exxon Mobil said it plans to explore for oil and gas in a disputed area off South America’s coast where the Venezuelan military had previously expelled two U.S. oil companies. The move
Putting 10,000 EVs on African roads, the hard way
In less than two years, Cotonou-headquartered EV company Spiro has put more than 10,000 e-bikes on roads across four African countries. But experts believe the company is incurring huge costs
A Dutch airport has gone rogue and called for air traffic polluters to pay for their CO² emissions
Amsterdam’s Schiphol airport has published new research which shows the need for a strong reduction of air traffic in order to halt the ongoing climate crisis. In a move likely to shock other
German budget blocked again, leaving subsidy feud with farmers unresolved
Germany’s largest opposition party, the conservative CDU, blocked a decisive vote on parts of the annual budget scheduled for Friday (2 February), leaving unresolved the feud over agricultural subsidies that
Labour’s financial services plan – ShareAction response
Commenting on the Labour Party’s plan for financial services, Fergus Moffatt, Head of UK Policy at ShareAction, said: “The Labour Party’s plan for financial services includes some promising proposals to
A Superfund for climate change? States consider a new way to make Big Oil pay
Last July, the normally warm and humid but still pleasant New England summer was disrupted by a series of unusually heavy rain storms. Flash floods broke creek banks and washed
India budget 2024: What does it say about the economy, elections?
With national elections around the corner, the Indian government on Thursday announced an interim budget mostly along expected lines, with a few surprises rolled in both for investors and rural
Air Pollution From Canadian Tar Sands Up to 6,300% Worse Than Industry Reports
Aircraft measurements of pollutants over the Athabasca tar sands in Alberta, Canada show levels exceeding industry reports by 1,900% to more than 6,300%, scientists revealed Thursday, underscoring the need for
China moves to spur its slowing economy and boost markets by cutting required bank reserves
BANGKOK (AP) — China’s central bank said Wednesday it will cut amount of reserves it holds for banks as part of a slew of measures to support the slowing economy.
Why are ‘golden visa’ schemes being scrapped?
Golden visas and golden passports have attracted attention in recent years, as some countries attempt to encourage wealthy foreigners to park their money in return for residency or citizenship. The tiny Caribbean
EU auditors say real CO2 emissions from most cars have not fallen
BRUSSELS, Jan 24 (Reuters) – Real CO2 emissions from most passengers cars on EU roads are the same as 12 years ago despite reduction targets set in 2010 for newly
Romanian farmers, truckers resume protests after government talks fail
Romanian farmers and truckers resumed protests Monday after negotiations with the government failed Sunday, mirroring similar demonstrations in Germany. The protests, which began on January 10, have disrupted traffic in several cities,
Wind and solar capacity in south-east Asia climbs 20% in just one year, report finds
The technologies now make up 9% of electricity generating capacity in ASEAN countries – Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam – according to a
What the Red Sea crisis could mean for the electric vehicle industry and the planet
Automotive giants Tesla and Volvo have announced pauses to the production of their electric vehicles (EVs) in Europe. Electric vehicles are seeing record sales and demand worldwide, but a lack of parts means that factories
Five richest men doubled fortunes after 2020, Oxfam says as Davos opens
The world’s richest five men have more than doubled their fortunes since 2020, the charity Oxfam has said, sounding the alarm about unchecked corporate power as business elites hold their high-profile
Mexico set to surpass China as the largest exporter to the US in 2023
The anti-China restrictions imposed by the United States are paying dividends and, on one level in particular, Mexico has been the major beneficiary. Since the toughening of President Joe Biden’s
UK solar power target for 2035 obliterated by inflated costs, government chaos, and gridlock
A perfect storm of inflation, supply chain disruption, spiralling interest rates, and delays in connection to the National Grid means that the swathe of solar power farms approved and going
U.S. tech layoffs sent Indian workers home to an even worse job market
Deepak had been working at Amazon India for six years when he was offered an opportunity for an internal transfer to the company’s headquarters in Seattle. In June 2022, he
Oil-friendly Louisiana now has the power to approve carbon capture projects
Both Republicans and Democrats in deep-red Louisiana have warmed up to the idea of carbon removal, a practice that involves capturing carbon dioxide from large industrial operations and storing it
The next frontier in EV battery recycling: Graphite
As more and more Americans embrace electric vehicles, automakers and the federal government are racing to secure the materials needed to build EV batteries, including by pouring billions of dollars
Tesla reported 485,000 deliveries for the fourth quarter, bringing 2023 total to 1.8 million
Tesla just published its fourth-quarter vehicle production and deliveries report for 2023. Here are the key numbers: Total deliveries Q4 2023: 484,507 Total production Q4 2023: 494,989 Total annual deliveries
Private equity ownership is bad for a hospital’s health
Private equity has pumped more than $1 trillion into the US healthcare sector in the last decade, with over 8,000 deals completed. But it isn’t panning out well for patients. A new study led
Trudeau’s climate plan faces setback in Saskatchewan over carbon tax
WINNIPEG, Manitoba/OTTAWA, Jan 3 (Reuters) – Canadian Prime Minister Justin Trudeau faces a setback for his climate-change action plan in conservative-leaning Saskatchewan, as provincial opposition mounts against the federal carbon
How the Digitization of Money Is Changing Us
Digitization has significantly reshaped our relationship with money. The convergence of technology and finance has led to a transformative shift in how we perceive, access, and interact with money in
Sky-high inflation takes a toll on mental health in Argentina
Buenos Aires, Argentina – Psychologist Jesica Bianchiotti, 35, still remembers the days when most sessions with her patients began with a chat about the weather or the results of the latest
Solar, batteries and heat pumps led the green charge in 2023
Fossil fuels still supply around 80% of the world’s energy needs, but 2023 saw significant advancements in renewable power. The intergovernmental International Energy Agency (IAE) said that global renewable energy capacity experienced its largest-ever growth
UK and Switzerland strike ‘first of its kind’ financial services deal
LONDON — The U.K. and Switzerland have signed a financial services deal described as the “first of its kind” by British Chancellor Jeremy Hunt. The mutual recognition agreement will allow British
Billionaire Benko’s Property Woes Risk Leaving Scars in Hamburg
A concrete skeleton looming over Hamburg’s harbor was supposed to be the crown jewel of a historic revitalization project, but on a rainy day this week, cranes and forklifts stood
Oil companies attending climate talks have minimal green energy transition plans, AP analysis finds
In 2022, Brazilian oil and gas company Petrobras had 68 places staked out for oil exploration off the South American coast, searching for new reserves while spending $6.9 billion in
Harassment of women in finance eclipses other industries -Aviva CEO
LONDON, Dec 13 (Reuters) – Amanda Blanc, the CEO of insurer Aviva (AV.L), told British lawmakers on Wednesday that physical and verbal harassment of women in financial services eclipsed other
Argentina’s Milei announces 50% currency devaluation and large cuts to public spending
Argentina’s new president, Javier Milei, on Tuesday announced an official devaluation of the peso of 50%, virtually turning on the chainsaw that he famously used at campaign events. The government
Building sustainable roads in emerging economies
Take a moment and imagine your daily life without roads. Everything needed to survive and thrive — food, shelter, employment, medical care, education — would suddenly be difficult or impossible
Soil Builds Prosperity From the Ground Up
Aidee Guzman, 30, grew up the daughter of immigrants in California’s Central Valley, among massive fields of monocrops that epitomize intense, industrial agriculture. Her parents were farmworkers, and despite spending
German budget chaos: No vote on 2024 spending this year
The German parliament will not have time to vote on the country’s 2024 budget before the end of the year, a senior lawmaker from Chancellor Olaf Scholz’s Social Democrats (SPD) wrote in
Diplomatic cables reveal UK fears over $15B Vietnam coal deal
DUBAI, United Arab Emirates — Vietnam made a big splash at COP28 by announcing details of a $15.5 billion, G7-backed plan to shutter its coal industry — but British diplomats
The libertarian developer looming over West Maui’s water conflict
Just weeks after the deadliest wildfire in modern U.S. history ripped through the coastal town of Lāhainā, Native Hawaiian taro farmers, environmentalists, and other residents of West Maui crowded into
Three in four young people are not being protected by employment rights
A new Trades Union Congress (TUC) report published on Thursday 30 November reveals that nearly three-quarters (72%) of young people aged 16 to 24 miss out on key employment rights at work.
US oil and gas extraction is at a new high and will likely stay near record levels through 2050
For the US, it isn’t a good look in the lead-up to this week’s United Nations conference on climate change (COP28). The country will pull record quantities of oil and gas out
Vietnam reels from historic €11.4 billion corruption scandal
Vietnam has been rocked by its largest corruption scandal to date after authorities last month arrested a prominent real estate developer over allegedly embezzling nearly €11.4 billion ($12.4 billion), the equivalent
Brazil’s politicians, unions, and workers can’t agree on how to protect gig labor
While on the campaign trail in 2022, Brazilian President Luiz Inácio Lula da Silva made it clear he wanted to take on gig work platforms. “We’re not against someone working
European lawmakers give green light to ‘model’ NZ trade deal
Lawmakers in the European Parliament on Wednesday signed off on the bloc’s free-trade agreement with New Zealand, heralded as Brussels’ gold standard for making its trade deals greener. “This is the most
Nigerian workers’ wages diminish as inflation rises and gov’t revenue dips
Lagos, Nigeria – When Yusuf Mogaji joined Nigeria’s federal civil service as a non-teaching staff member at the University of Ilorin in 2015, he had dreams of building his own house.
Economic models buckle under strain of climate reality
Nov 22 (Reuters) – Ahead of international climate talks in Dubai this month, economists are updating estimates of the impact of global warming on the world economy, sometimes calculating down
Somalia’s devastating floods have now caused food prices to rocket – leaving countless people in peril
Somalia has recently seen the worst flooding it’s had in a century. Dozens of people have been killed, and 1.6 million people have been affected. Moreover, the flooding has cut off communities
German farmers: Ukraine membership would spell end of EU farming system
Following last week’s recommendation by the European Commission to open formal accession talks with Ukraine, Joachim Rukwied, the president of the German Farmers’ Association (DBV), warned of its consequences on the
Energy Department tries to boost US battery industry with another $3.5 billion in funding
The Energy Department is making a push to strengthen the U.S. battery supply chain, announcing up to $3.5 billion for companies that produce batteries and the critical minerals that go
South Africans are breaking the law to get Elon Musk’s Starlink internet
Small business owner Sozwani Joko felt he wasn’t getting the one vital resource he needed to run his community internet cafe: a strong internet connection. His services – video conferencing,
Hedge fund recruits investigative journalists to help with investment
Hunterbrook, an investment firm, has begun hiring financial journalists who will support its research team in identifying deals. The writing room, which will operate independently of the investment division, will
Maine voters reject effort to create the first statewide public power company
Voters in Maine overwhelmingly rejected scuttling the state’s for-profit utilities in favor of a public power company that would have been governed by a board of elected and appointed officials. The referendum was
Global fossil fuel production plans far exceed climate targets, UN says
LONDON, Nov 8 (Reuters) – Global fossil fuel production in 2030 is set to be more than double the level deemed consistent with meeting climate goals set under the 2015
Greece: Cost of living crisis hits ordinary households hard
“The money I now spend in the supermarket to buy three day’s worths of food for my family, last year was enough for an entire week’s worth of groceries,” Anna
A Hidden System of Exploitation Underpins US Hospitals’ Employment of Foreign Nurses
TALLAHASSEE, Florida — When Rachel started her job as a nurse in the internal medicine unit at Tallahassee Memorial HealthCare last year, it felt like the realization of a dream
‘Time to Exit ISDS’: Hundreds of Groups Call On US to Ditch Corporate-Friendly Trade Regime
More than 200 civil society groups on Thursday called on the Biden administration to protect climate, health, and other public interest policies across the Americas by dismantling a trade regime
Investors are unsettled as funding is drying up for Africa’s startup ecosystem
VC funding in the African startup ecosystem has steadily declined in 2023, causing experts to worry about the future of the once fast-growing sector. With fewer investors willing to bet
Crumbling buildings and broken dreams: China’s unfinished homes
Taichung, Taiwan – Around a tiled square on the outskirts of the Chinese city of Nanjing, a cluster of apartment buildings rise like concrete columns towards a grey sky. At first
Rishi Sunak carries out Liz Truss plan to axe cap on bankers’ bonuses
Rishi Sunak is pushing ahead with Liz Truss’s plan to axe the cap on bankers’ bonuses despite warnings that boosting bumper payouts for the rich is “obscene”. Scrapping the limit on multimillion-pound bonuses
NGOs launch 2024 EU elections manifesto calling for bold action on sustainable finance
(Thursday 26th October) Today, a group of over 20 NGOs coordinated by ShareAction through the European Responsible Investment Network (ERIN), has published a manifesto for the EU elections calling on
When Recycling Comes to the Construction Industry
When calculating our environmental footprint, people usually consider their consumption of things like food, flights, and fuel for heating or run the car. But a major contributor to carbon emissions
Warren Buffett’s company joins oil-buying frenzy this week by resuming its Occidental Petroleum buys
Investor Warren Buffett joined the recent oil-buying spree in the market this week by resuming Berkshire Hathaway’s purchases of Occidental Petroleum stock for the first time in four months. Buffett’s
Indonesia: Corruption scandals escalate as election nears
Indonesia has been hit by a series of corruption scandals whereby several leading officials have been accused of wrongdoing. The latest allegation came against the former Minister of Agriculture Syahrul Yasin Limpo. Earlier
Exxon in talks to join UN-led methane reporting pact -sources
Oct 19 (Reuters) – Exxon Mobil (XOM.N) is considering joining a U.N.-led initiative that would require disclosing more details of its global methane output, two people familiar with the matter told Reuters, a
Argentina’s gig workers are rallying against regulation — and supporting the libertarian candidate
Activist gig workers are handing out ballots and campaign materials as part of their delivery runs. The incumbent party has introduced a bill to classify gig workers as employees, stoking
Government slammed over ‘bizarre’ use of Amazon to give fuel poverty advice
A joint campaign by Amazon and the government to offer struggling families money-saving advice has been slammed by an employee of the tech giant who said its own staff are
Why is Goldman Sachs suing Malaysia over 1MDB scandal?
The United States investment bank Goldman Sachs has sued Malaysia in a London arbitration court amid rising tension over a settlement deal reached in connection with the bank’s role
Claudia Goldin wins Nobel Prize in Economics 2023
The Royal Swedish Academy of Sciences on Monday awarded the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel, more commonly known as the Nobel Prize in Economics,
US: As climate risks mount, the insurance safety net is collapsing
“We’ve got ourselves a little monster out there,” anchorman Jim Cantore warned, facing the camera in the Weather Channel’s newsroom on a sultry August weekend in 1992. At first, few in
Analysis: How the UK has spent its foreign aid on climate change since 2011
A new investigation by Carbon Brief reveals exactly how much of the UK’s foreign-aid budget is being used – and how – to help nations in the global south to
Australia to rejoin Global Climate Fund it abandoned in 2018
Australia has announced it will rejoin the United Nations climate fund set up to help poorer countries deal with the challenges of a heating planet ahead of a key donor
Japan’s sleep-deprived employees embrace the workplace nap
Japan’s ministry of health and welfare has called on the public to sleep longer and better after two recent reports determined that Japanese people are not getting enough shut-eye. And
Laid-off workers hesitate to rejoin Pakistan’s yo-yoing phone assembly industry
Pakistan’s mobile assembly industry was poised to take off, but a foreign exchange crisis caused the nascent, import-dependent sector to crash. Only 10.6 million phones have been manufactured so far
A new study finds returns on ESG ETFs to be “unremarkable”
Investors searching for alpha—to beat the market—won’t find it in socially responsible investing. A new study examining a decade of data finds portfolios of exchange-traded funds (ETFs) that follow environmental, social, and
Rishi Sunak to sign UK-India trade deal without binding worker or environment pledges
LONDON — Prime Minister Rishi Sunak’s trade deal with India will not include legally enforceable commitments on labor rights or environmental standards, five people briefed on the text have told
Rising poverty grips Argentina as runaway inflation takes its toll
BUENOS AIRES, Argentina (AP) — With tired faces, residents of a homeless shelter in Argentina’s capital pass through the main entrance and line up to receive a hot drink and
Brazil’s Supreme Court upholds Indigenous rights to reclaim land
The justices of Brazil’s Supreme Court voted 9-2 last week against a legal framework that would have made it impossible for Indigenous tribal leaders to reclaim traditional land and that
How India is seeking to gain ground on China
At first glance, the scene is just one of countless images of India’s contrasts. A child walks naked down a dusty street near a group of huts with corrugated iron roofs,
Singapore’s clean image under scrutiny amid money laundering scandal
Singapore – Singapore’s image as a squeaky-clean business hub is under scrutiny amid a huge money laundering scandal that has so far resulted in 10 arrests and the seizure of assets
Google Recruiting Propels Zurich Home Prices Past London, Paris
Zurich has become one of Europe’s hottest housing markets, with prices surging past London and Paris and showing how local shortages can offset interest rate hikes. With demand in the Swiss
U.S. aids Pakistan IMF bailout with secret Ukraine arms deal
SECRET PAKISTANI ARMS sales to the U.S. helped to facilitate a controversial bailout from the International Monetary Fund earlier this year, according to two sources with knowledge of the arrangement,
Panama Canal drought: Rolling ecological crisis is raising prices everywhere
It’s been another summer of extreme weather and the relentless drumbeat of climate change syncopating with the warm-water Pacific Ocean cycle of El Niño has reverberated across the globe. Floods in the
China denounces Europe investigation of EVs
China on Thursday warned that looking into Chinese state subsidies for electric vehicles would have a “negative impact” on economic and trade ties between the bloc and Beijing. The Chinese commerce ministry deemed the
Muhammad Yunus, the father of microfinance, is facing a prison sentence
Among foreign economists and civil society activists, the Nobel laureate Muhammad Yunus is an icon for extending microloans to those too poor to access conventional banks. But at home, in Bangladesh, he has
The U.S. is racing to source chips from Vietnam — but engineers are scant
The U.S. and Vietnam have leveled up their diplomatic relationship, including with an agreement that would put CHIPS Act funding towards growing the semiconductor industry in Vietnam. But for the
Norway will deliver gas to Europe for as long as needed, climate minister says
OSLO, Sept 15 (Reuters) – Norway will continue to deliver natural gas to Europe for as long as needed while also working to decarbonise the continent’s energy systems, its climate
New report exposes high number of anonymous UK property owners
Over two-thirds of properties in the UK held by overseas shell companies still do not publish information about the identity of their owners. That’s according to new research from the London School
India seeks a greater voice for the developing world at G20 but the Ukraine war may overshadow talks
NEW DELHI (AP) — It’s never been easy for the leaders of the world’s largest economies to find common ground, but Russia’s war on Ukraine has made it even harder
The International Monetary Fund: ‘Dollarization is not a substitute for a sustainable fiscal policy’
Latin America is suffering the economic effects of the post-pandemic period, but Chilean Rodrigo Valdés, 56, the economist responsible for the Western Hemisphere Department of the International Monetary Fund (IMF),
Ecuador faces economic dilemma after vote to ban oil drilling in the Amazon
Ecuador’s historic vote to leave the Amazon rainforest’s oil reserves underground contrasts sharply with the results of the presidential elections held on the same day, and leaves the troubled country
Philippines’ Marcos orders price cap for rice amid ‘alarming’ price surge
The Philippines has imposed a price cap on rice as the Southeast Asian country grapples with some of the highest inflation in the region. President Ferdinand Marcos Jr signed an
As the UN designs a new carbon market, experts call for a different approach
Back in 2015, when 174 countries and the European Union came together to finalize the Paris Agreement, each agreed to do its part to slash greenhouse gas emissions. Signatories put forward
UK weighing exit from controversial energy treaty
LONDON — The U.K. is reviewing its membership of the Energy Charter Treaty, a controversial international investment agreement, over fears it could hold back the country’s net zero plans. Energy
How Lebanon was plundered by its own central bank
Before the start of the economic crisis in Lebanon in 2019, the governor of the country’s central bank, Riad Salameh, had a strong reputation as one of the world’s best. But by the
Nigeria’s currency devaluation is a disaster for startups
In July, when Nigerian agritech startup Winich Farms shared its quarterly financial report with stakeholders, it reported all the figures twice. One version used the old official currency rate of
Japan eyes over $14 bln in green transformation spending – govt
TOKYO, Aug 23 (Reuters) – Japan aims to spend over 2 trillion yen ($14 billion) on green transformation to promote local production of storage batteries, semiconductors and equipment to produce
Climate change is making debt more expensive – new study
Earth is overheating due to the greenhouse gas emissions from burning fossil fuels. This is “the biggest market failure the world has seen” according to economist Nicholas Stern. The rational behaviour
Queues for bread and no formula milk: Motherhood in blockaded Nagorno-Karabakh
Mary Grigoryan’s day starts when the electricity is switched on, so she can heat up sugarless tea for her children’s breakfast. Energy use in the disputed territory of Nagorno-Karabakh, which
Renewables are exacerbating modern slavery — how businesses can act
When Mahendra Pandey was a teenager, he traveled from his home country of Nepal to Saudi Arabia for work. He said his passport was confiscated upon arrival, and he was
H&M probes alleged Myanmar factory abuses as pressure intensifies
H&M, the world’s second-largest fashion retailer, is investigating 20 alleged instances of labour abuse at Myanmar garment factories that supply it, Reuters news agency has reported, just weeks after Zara-owner Inditex, the
LNG supplies: Why Europe is spooked by Australian strike
Prospective strike action by workers at Australia’s second-largest liquefied natural gas (LNG) plant is being closely watched by European policymakers, concerned that a second winter of soaring energy prices could cause inflation to rebound. European
US escalates trade dispute with Mexico over limits on genetically modified corn
The U.S. government said Thursday it is formally requesting a dispute settlement panel in its ongoing row with Mexico over its limits on genetically modified corn. Mexico’s Economy Department said it
Toronto Takes on Silicon Valley to Become AI Startup Hub
Few figures have loomed larger in recent public dialogue over artificial intelligence than Geoffrey Hinton, the groundbreaking AI researcher who famously left Google Brain in May, saying he wanted to be free
Offices: how bad will the coming property crunch be?
There has been much talk for a while about offices heading for the buffers. The nightmare scenario is many thousands of office buildings being deemed virtually worthless as leases come up for
What the Amazon Summit means for deforestation and climate change
At a meeting in Belém, Brazil, on 8-9 August, heads of state and foreign ministers gathered to discuss how to take a cooperative approach to a range of issues, including
Another week, another push to “Make in India”
The Indian government has made yet another attempt to give its flagship Make in India initiative a push. On August 3, India said companies importing laptops, tablets, and PCs into
India’s wild price swings for tomatoes make and lose fortunes
“Tomato King” Ramesh Pangal, a farmer in the north Indian state of Haryana, had a good yield despite a heatwave that began earlier than usual this summer. By May, the
The US government’s debt has been downgraded. Here’s what to know
WASHINGTON (AP) — Late Tuesday, Fitch Ratings became the second of the three major credit-rating firms to remove its coveted triple-A assessment of the United States government’s credit worthiness, a move that
Failing UK anti-pollution scheme needs ‘complete rethink’, experts say
Scientists and campaigners have slammed the government’s decision to hand unexpectedly large subsidies to the biggest polluters – making it far cheaper to pollute in the UK than in the
Russia strikes Ukraine’s Danube port, driving up global grain prices
KYIV, Aug 2 (Reuters) – Russia attacked Ukraine’s main inland port across the Danube River from Romania on Wednesday, sending global food prices higher as it ramped up its use
Deep-sea mining risks costing everyone – including mining companies – the Earth
Deep-sea mining is the subject of ongoing discussions at the International Seabed Authority (ISA). Such mining would pose substantial risks to marine life and ecosystems, as well as humans, which are
Clean fuel storage attracts big business amid energy shift
With Europe’s deepening commitment to decarbonizing the energy it uses — and to weaning itself off Russian imports — comes a desperate need to replace its fossil fuel habit with green alternatives. As 70%
Yellen visits Vietnam to build US ties and push supply chain diversity to offset tensions with China
The U.S. considers building strong economic and security ties with Vietnam a priority, U.S. Treasury Secretary Janet Yellen said Thursday as she met with Vietnamese officials in a visit aimed at fortifying
Greenhushing, explained: Why companies have stopped talking about their climate pledges
Not long ago, the world’s biggest companies were making splashy promises to tackle climate change. Even those in the business of selling fossil fuels — like BP and Shell —
Novatek set to oust Gazprom as Russia’s top gas supplier to Europe
MOSCOW, July 21 (Reuters) – Increased supplies of liquefied natural gas (LNG) from Russia’s Novatek (NVTK.MM) mean the company is close to overtaking Kremlin-controlled Gazprom (GAZP.MM) as the country’s leading fuel supplier to Europe,
As Cuba’s private sector roars back, choices and inequality rise
Güines, Mayabeque – “Capitalism must be uprooted, parasitism must be uprooted, the exploitation of man must be uprooted,” cried Fidel Castro in 1968 to rapturous applause, explaining his decision to ban
Europe’s latest energy security tactic: hoarding Chinese solar panels
Russia’s invasion of Ukraine last February, and Moscow’s subsequent throttling of natural gas supplies to Europe, threw global energy markets into disarray. Europe panicked as it confronted the ugly reality of its fragile
New visa programs spark brain drain fears across Africa
When Edmund Ekott, a Nigerian front-end developer, decided to relocate to Germany in 2022, he had to deal with an exasperating immigration process. He went through a prolonged back-and-forth with
Rice crops are being threatened by El Nino after grain supplies were disrupted by the war in Ukraine
NEW DELHI (AP) — Warmer, drier weather because of an earlier than usual El Nino is expected to hamper rice production across Asia, hitting global food security in a world
International negotiators just missed a deadline to regulate deep-sea mining. Now what?
This month, a small group of diplomats is meeting to hash out a plan that could affect the future of nearly half of Earth’s surface — including regions containing metals that are vital for
Rishi Sunak hikes public sector pay — but the devil’s in the details
LONDON — Rishi Sunak’s finally splashing the cash. But will his latest round of pay rises be enough to calm restive public sector workers? On Thursday the U.K. prime minister
Revealed: Major US banks are funding anti-LGBTIQ groups
The Bank of America and Goldman Sachs have both been lauded for their LGBTIQ-friendly workplaces. But tax filings uncovered by openDemocracy show nonprofit foundations linked to the banks have also
World’s richest people added $852 billion to their fortunes in the first half of 2023
The world’s 500 richest people added $852 billion (about €780 billion) to their personal fortunes in the first half of the year, according to Bloomberg data. On average, each member
Mexico’s growing e-commerce infrastructure is built on top of its smallest shops
Online sales in Mexico grew by 80% in 2020, and they’ve since kept growing by over 20% every year. Amid this trend, neighborhood corner shops, laundromats, and office supply stores
How holidaying in developing countries affects local inequality
A few years ago, one of us (Alex) went for a vacation to the Dominican Republic. The motivation was similar to millions of other tourists every year: escape the daily
UK-US: What’s happened to their free trade deal?
US President Joe Biden’s upcoming European trip, where he will be popping in to see UK Prime Minister Rishi Sunak, will no doubt reinforce the optics of the “special relationship,” but
The key points of Sri Lanka’s plan to restructure domestic debt
The Central Bank of Sri Lanka (CBSL) has unveiled a far-reaching domestic debt restructuring plan aimed at restoring stability in the crisis-hit country. The move on Thursday comes as the
Public Pension Funds Have Lost Billions on Their Fossil Fuel Investments: New Analysis
For U.S. public pension funds, divesting from oil, coal, and gas would result in overall higher financial value. That is the key takeaway from a new study examining the past decade’s portfolio
Chinese businesses want more trade as EU becomes more sceptical
As the EU starts using a more political lens to analyse its trade relations with China, Chinese companies are still trying to convince Europeans of the benefits of a close
‘Climate washing’ lawsuits jump as more activists challenge corporate claims, report shows
LONDON, June 29 (Reuters) – “Climate washing” litigation has risen sharply in the last two years as environmental groups and governments grow frustrated with corporate claims about their contribution to
Greenwashing concerns: Is Brazil paper company sustainable?
Members of the Curvelandia community in Brazil’s north-eastern Maranhao state used branches and palm fronds at the beginning of this year to create a barricade across the red dirt road that runs
Cost of living is driving one in four workers globally to look for new jobs
The rising cost of living is causing employed people to look for either higher pay with a new job or take on additional jobs, according to the recently released Global Workforce Hopes and
Pivotal case against UK fossil fuel project gets its day in the Supreme Court
A legal challenge against an onshore oil project in Horse Hill, Surrey will be heard in the Supreme Court on 21 and 22 June. The years-long case challenges Surrey County Council’s failure
Are low-traffic neighbourhoods greenwashing? Here’s what the evidence says
Since the pandemic, a series of low-traffic neighbourhoods (LTNs) have been installed across the UK. LTNs are designed to curtail car use in residential streets and promote active modes of travel such
US: Renewable group shifts position, shakes up hydrogen debate
One of the nation’s largest renewable trade groups unveiled revised recommendations Thursday on how “green” hydrogen emissions should be counted under the Inflation Reduction Act, highlighting the challenge facing the
How Emefiele, Nigeria’s powerful central bank chief lost his seat
Lagos, Nigeria – Last Friday Nigeria’s new President Bola Tinubu suspended the country’s Central Bank Governor Godwin Emefiele. On Saturday, Nigeria’s secret police confirmed the erstwhile top banker has been arrested
Africa’s Richest City Is Crumbling Under Chaos and Corruption
Solomon Owa’s fingers work quickly as he speaks over the hum of his sewing machine. That’s because the hum of his sewing machine might stop at any moment. “In a
Net zero targets among world’s largest companies double, but credibility gaps undermine progress
Bonn, 12th June 2023: The globally-agreed mission to curtail climate change will be impossible unless national & sub-national governments and the largest companies urgently strengthen their targets, reports the Net Zero
India’s central bank sets a vision for a net-zero economy
India’s goal of achieving net zero emissions by 2070 raises important questions for policymakers regarding potential risks to the financial system and necessary policy reforms. These concerns are particularly relevant
China’s factory deflation steepens as demand wanes
BEIJING, June 9 (Reuters) – China’s factory gate prices fell at the fastest pace in seven years in May and quicker than forecasts, as faltering demand weighed on a slowing
Pakistan’s 4-day internet shutdown was the final straw for its tech workers
On May 16, frustrated with an unexpected internet shutdown in Pakistan, Karachi-based app developer Wajahat Karim posted a poll on LinkedIn. The 32-year-old asked his connections if they wanted to move
Revealed: Labour taking free staff from scandal-hit consulting firms
Labour went cap-in-hand to two scandal-hit consultancy firms that its own shadow chancellor said should be broken up, openDemocracy can reveal. The party has quietly accepted more than £230,000 worth
Europe sees inflation drop to 6.1%, but real relief for consumers will take months
FRANKFURT, Germany (AP) — Europe’s inflation took a positive turn with a significant drop to 6.1%, but prices are still posing a pinch to shoppers who are yet to see
Glencore a big winner of Germany’s Colombian coal binge
The German and Colombian governments both have detailed decarbonization strategies to take on climate change. Still, the real beneficiary of this green transition is actually based in Switzerland. Almost a year
US: CEOs got smaller raises. It would still take the average worker 2 lifetimes to make their annual pay
After ballooning for years, CEO pay growth is finally slowing. The typical compensation package for chief executives who run S&P 500 companies rose just 0.9 percent last year, to a
Straightening Turkey’s economy: The main challenge of Erdogan’s new term
Prices that double every year, the Turkish lira at record lows, the Central Bank’s foreign exchange reserves in negative for the first time in 21 years, a tangle of regulations
How an energy giant helped law enforcement quell the Standing Rock protests
By March 2017, the fight over the construction of the Dakota Access Pipeline had been underway for months. Leaders of the movement to defend Indigenous rights on the land —
Belgium’s De Croo slams degrowth, joins call for a regulatory break
Belgian Prime Minister Alexander De Croo on Monday (22 May) criticised the idea of not growing the economy for environmental reasons, joining calls to stop environmental and health-related regulation to
Tiger protection in India also saved 1 million tonnes of carbon emissions – new study
The year 2023 coincided with the 50th anniversary of India’s groundbreaking Project Tiger, an innovative programme designed to rescue the country’s iconic big cat from the precipice of extinction. In
Nigerians look to president-elect Tinubu for economic turnaround
Ilorin, Nigeria – On Monday, as Nigeria’s president-elect Bola Tinbu is sworn into office, Olusegun Badmus will be one of several million people watching. But for the 57-year-old bus driver
UK plays catch-up in chips war with £1B semiconductor strategy
LONDON — The U.K. will invest £1 billion over the next decade to secure semiconductor supplies and boost its chip design sector, Prime Minister Rishi Sunak announced in the early hours
Russia’s rupee problem risks harming trade ties with India
India has emerged as a major buyer of Russian oil over the past year, after Moscow’s invasion of Ukraine triggered Western sanctions, forcing Russia to offer its crude at discounted rates. The South
HGV driver says training more Brits won’t solve awful working conditions
A lorry driver has said Suella Braverman’s plan to end reliance on foreign workers by training more Brits ignores the awful working conditions putting people off the job. The home
Japan’s sleepy tech scene is ready for a comeback
Sho Hayashi might be a walking cliche in San Francisco or Austin. The 33-year-old founder, with two successful startups and a string of degrees to his name, met me in
The super-rich are gobbling up prime London properties at a rate not seen since Brexit
Everyone with a mortgage in London—and the rest of the UK—woke today (May 11) to the unwelcome news that interest rates, and therefore the cost of paying for their homes, are likely
The “Electrify Everything” Movement’s Consumption Problem
In 2019, Thea Riofrancos was splitting her time between researching the social and environmental impacts of lithium mining in Chile and organizing for a rapid energy transition away from fossil fuels
A Mysterious Mumbai Company Has Been Shipping Large Quantities of Russian Oil: Report
New Delhi: A mysterious Mumbai company registered as an exporter only on March 31 this year, has grown into a giant of international oil shipping in the last 18 months, Financial Times has
Yellen says G7 members looking at how to counter China’s ‘economic coercion’
NIIGATA, Japan, May 11 (Reuters) – U.S. Treasury Secretary Janet Yellen on Thursday said many members of the Group of Seven advanced economies shared U.S. concerns about China’s use of
AI: When the machines tell you where to invest: ‘You won’t always win’
It is eleven o’clock in the morning at the Madrid headquarters of the Renta 4 bank and a group of eight young people from various countries are typing away concentrated
Head of the UN’s COP28 climate conference claims fossil fuels still have a role to play
The United Arab Emirates (UAE) will host the UN‘s COP28 climate conference in November 2023. One of its senior politicians, sultan Al Jaber, is set to head up the event. However,
Effective Altruists Want to Engineer People to Sleep Less So They Can Work More
“Sleep is for the weak.” This expression is often tossed around jokingly. However, some effective altruists believe there is a moral imperative to get the human race to sleep less,
Digital bank runs: social media played a role in recent financial failures but could also help investors avoid panic
A crisis of confidence in the US banking sector led people to pull their money from banks including Silicon Valley Bank and Credit Suisse, and more recently, First Republic Bank and California-based PacWest
10 years after Rana Plaza, fast fashion still resists change
The collapse of the Rana Plaza garment factory building on the outskirts of Bangladesh’s capital city, Dhaka, on April 24, 2013 killed 1,138 people. Its legacy one decade on is a mix of
Half of Europe unable to spend enough to meet climate targets under current borrowing rules
New EU rules restricting government borrowing would prevent all but four European countries from investing enough to meet their Paris climate commitments and limit global heating to 1.5C, according to
Ukraine is reforming its welfare system as the cost of war rises
The Ukrainian government is continuing with wide-reaching reforms to its social welfare system as the country faces the ever-increasing cost of war with Russia, now in its second year. National
Africa fell in love with crypto. Now, it’s complicated
Amid waning consumer trust and regulatory pushbacks, African crypto startups are dealing with the lack of venture dollars needed to gain competitive advantage against local and global counterparts. Chiamaka, a
US: The Meat Industry Is Advertising Like Big Oil
Later this month, the National Cattlemen’s Beef Association (NCBA) will head to the 2023 National Agri-Marketing Association’s conference to see if its public relations campaign about beef’s sustainability can secure the national
China says drafting plans to boost recovery, expansion of consumption
BEIJING, April 19 (Reuters) – China is formulating plans to boost the recovery and expansion of consumption, the state planner’s spokesperson Meng Wei said on Wednesday, signaling officials are worried
In Peru, forest communities are fighting to regain ownership of protected land
On the morning of July 27, 2022, a small coalition of Shipibo fishers and local farmers living inside a protected area in the Peruvian Amazon steered their boats across a
IMF wants Egypt to make reforms before bailout review: Report
The International Monetary Fund wants Egypt to enact more of the reforms that Cairo has committed to before it conducts the first review of the country’s $3bn rescue package, Bloomberg
New India-born World Bank chief: Real change or rebranding?
The incoming president of the World Bank was born in India and forged his early business success there, a fact supporters say gives Ajay Banga valuable insight into the challenges faced by
Progress on forced labour products ban too slow, says leading rapporteur
The Swedish Presidency’s progress on the regulation to prohibit products made with forced labour from the EU is “good news, but not enough”, according to the European Parliament’s co-rapporteur on
Barcelona bets on green to boost city’s mental health
There are plenty of reasons for major cities to go green: to adapt to climate change, to lower emissions, to tackle air pollution. In Barcelona, urban planners are motivated by
NHS paid private firms £500m to ‘ease backlog’. Fewer patients got seen
The government handed almost half a billion pounds to private healthcare companies to fix the NHS backlog last year, yet is still struggling to treat any more patients than it
How company profits are keeping prices high
When major oil companies announced record earnings in February, even US President Joe Biden was appalled. The White House said it was “outrageous” that ExxonMobil had raked in a profit of $56 billion (€51 billion) in
M-Pesa has been huge for Kenya’s economy — and for scammers
In January 2022, Peter Mwanzo, a senior Nairobi police officer, became a high-profile victim of mobile money fraud. Scammers replaced his SIM card remotely, transferred 597,100 Kenyan shillings ($4,575)
World Bank falling short on climate action and locking countries into fossil fuels
Following the release of the Intergovernmental Panel on Climate Change’s (IPCC) ‘final warning’ report on the climate crisis, UN chief António Guterres warned: “Our world needs climate action on all fronts:
Zurich Insurance becomes second firm to quit climate alliance
LONDON, April 5 (Reuters) – Zurich Insurance Group (ZURN.S) said on Wednesday it was withdrawing from the Net Zero Insurance Alliance (NZIA), becoming the second founding member to quit the climate group
‘The Billionaire Bailout’: FDIC Chair Says the Biggest Deposit Accounts at SVB Held $13 Billion
In prepared testimony for a Senate Banking Committee hearing slated for Tuesday morning, the chair of the Federal Deposit Insurance Corporation reveals that the 10 largest deposit accounts at Silicon Valley Bank
The EU is wielding a new weapon in its trade battle with China
The European Union knows all too well what it means to be the target of economic coercion. Russia’s move to cut off gas flows to Europe is one example. China’s boycott and blockade of Lithuanian
Crypto sector sees an existential moment in the U.S.
Crypto businesses have warned for months that the Biden administration is quietly moving to push them out of the U.S. Now, with the collapse of three crypto-friendly banks, they say
Companies need more transparency on employee satisfaction and human rights – new Workforce Disclosure Initiative report reveals
For the sixth consecutive year, ShareAction’s survey of the world’s leading companies has revealed the trends of how these companies respond to the needs their workforces and supply chains. The
How Boris Johnson raked in £5m in 6 months after leaving office
Boris Johnson’s outside earnings have now hit £5m in the six months since he left office, new figures suggest. His latest disclosures, which came as he was grilled by MPs
Climate change could spur severe economic losses, Biden administration says
Climate change is generating major economic problems in the United States, the Biden administration said in an annual report published this week. The assumptions that higher-income countries like the U.S. would
How Nigerians are using WhatsApp groups to fight food inflation
As inflation rises above 20%, middle-class Nigerians are forming WhatsApp groups to buy food items in bulk directly from producers and share among themselves. For Cecelia Anahobi, a single mother
Italy’s Model for Renewable Energy Communities
San Giovanni a Teduccio is a working-class neighborhood on the outskirts of Naples, Italy. Once an industrial center, today it’s home to abandoned factories that sit in ruins by the
Honduras says economic factors fuelling pursuit of China ties
The Honduran foreign minister has said that a decision to pursue diplomatic relations with China and ditch ties with Taiwan was motivated by economic interests rather than ideology. Speaking to the Canal
South Korea yields on extended 69-hour working week after backlash from young workers
The government of South Korea has been forced to reconsider a proposal to raise the cap on weekly working hours to 69, due to widespread rejection by young people, who
DRC’s dilemma: Generate oil wealth or combat climate change?
The Democratic Republic of Congo wants more money for climate projects. Otherwise, oil drilling could replace fishermen in the world’s largest peat bog. And that could spell devastation for the
EU countries seek to weaken livestock emission limits
BRUSSELS, March 16 (Reuters) – European Union countries agreed on Thursday to try to reduce the number of farms covered by proposed rules to cut pollution and greenhouse gas emissions
Liquid gas industry fights to weaken EU climate plans ahead of key vote
Liquid gas companies are casting themselves as champions of rural communities in a bid to weaken proposals to slash the carbon emissions produced by heating Europe’s buildings, according to dozens
German workers want green transition, but not with lower pay
As industrialised countries shift towards climate neutrality, some industries such as coal mining will have to disappear, meaning workers need to retrain to find employment in other sectors. Other industries,
Anti-strike bill akin to modern slavery, legal experts tell MPs
The government’s plans to give employers powers to force striking workers back to work is akin to modern slavery, legal experts told MPs. Last month, business secretary Grant Shapps unveiled plans that
Power outages are killing South Africa’s gig economy
Bongani Mlilo started driving for the ride-hailing company Bolt in Thembisa, east of Johannesburg, in 2020. Things were smooth for the first two years. Mlilo earned about 6,000–7,000 rand ($325–$380)
Sri Lanka workers defy strike ban to protest IMF bailout plan
Sri Lankan workers have gone on strike in defiance of a government ban to protest against a rescue plan for the bankrupt island nation, forcing the closure of some hospitals,
UK government climate ‘aid’ set to displace indigenous villagers in India
“We are saying with folded hands that the only thing that we want is our lands to be saved. And if not land, then at least our houses.” The Canary spoke
Citizenship-by-investment programs are on the rise in Africa
African economies looking to attract fresh investments are turning to innovative programs that offer residence and dual citizenship opportunities to investors with deep pockets. Migration investment programs allow people to purchase
Countries split on plastics treaty focus as U.N. talks close
WASHINGTON, Dec 2 (Reuters) – The first round of negotiations on a global plastics treaty ended on Friday with agreement to end plastic pollution but a split on whether goals
President Muhammadu Buhari’s questionable legacy
In 2015, when he was elected president of Nigeria, Muhammadu Buhari made history in more than one sense. It was the first time an opposition candidate assumed the helm peacefully. And
China beats Tesla to Nigeria’s lithium riches
Kaduna, a state in northwestern Nigeria, has selected China’s Ming Xin Mineral Separation Nig Ltd. (MXMS) to build the country’s first lithium-processing plant, with a plan to manufacture batteries for
Home Office paying asylum seekers £1 an hour to clean detention centres
The Home Office has paid asylum seekers £1 an hour to carry out more than a million hours of work in the past five years, openDemocracy can reveal. The government
US nominates Ajay Banga for World Bank president
WASHINGTON (AP) — The United States is nominating former Mastercard CEO Ajay Banga to lead the World Bank, President Joe Biden announced on Thursday, crediting him with critical experience on global
Barclays scales down oil sands finance following investor pressure
(Wednesday 15th February) Today, Barclays published its annual report, where it committed to new restrictions on oil sands, following a long-term campaign from shareholders on the issue. From July, the bank will
Turkey cracks down on contractors of quake-struck buildings
Dozens of contractors were detained over the weekend in Turkey, as anger grows over the consequences of the devastating earthquakes and the government vows to take action against construction negligence
Big Oil’s Been Secretly Validating Critics’ Concerns about Carbon Capture
Last February, ExxonMobil announced it would further expand its only active carbon capture and storage (CCS) operation in the United States, located at a gas processing facility in LaBarge, Wyoming. Shute Creek is the
One year on, Ukraine exposes the limits of well-funded international aid
As the power returns following one of the now frequent electricity cuts that ripple across Ukraine, Kylyna Kurochka logs on to her laptop and finds herself faced with dozens of
‘iPhones are made in hell’: 3 months inside China’s iPhone city
Chinese factory laborers call jobs like Hunter’s “working the screws.” Until recently, the 34-year-old worked on the iPhone 14 Pro assembly line at a Foxconn factory in the central Chinese
‘Stop Union-Busting’: After 1,000+ Days Without Contract, NBC News Workers Walk Out
After working more than 1,000 days without a contract, more than 200 unionized NBC NewsDigitalworkers on Thursday launched a 24-hour walkout to protest the media giant’s ongoing “unfair labor practices,” including
The world needs lithium more than ever, and Latin America knows it
German chancellor Olaf Scholz flew to Latin America this week looking for one thing: lithium. Meeting with the leaders of Argentina, Chile, and Brazil — home to the so-called lithium triangle —
Shell’s board of directors sued over ‘flawed’ climate strategy in first-of-its-kind lawsuit
Shell’s board of directors are being personally sued over their alleged failure to properly manage risks associated with the climate crisis. The lawsuit says the British oil giant’s 11 directors
Hope for jobs drives recruitment by militant groups in Africa – report
JOHANNESBURG, Feb 7 (Reuters) – Hope of employment more than religious belief is driving people to join fast-growing extremist groups in sub-Saharan Africa, according to a report by the U.N.
Environment plan for England asks farmers to restore nature – but changes are likely to be superficial
The UK government’s environment improvement plan pledges to restore 500,000 hectares (1.2 million acres) of wildlife-rich habitat, create or expand 25 national parks, invest in the recovery of hedgehogs and
EU’s green industrial plan vague on clean tech, finance, critics say
The Commission’s ‘Green Deal Industrial Plan’, unveiled on Wednesday (1 February), promises simplified EU regulation for clean technologies, but critics say it lacks clarity and opens the door to unrestricted
UK government promises ‘confidentiality’ for Putin allies fighting sanctions
The government has promised Vladimir Putin’s cronies total privacy if they launch a legal bid to be removed from the UK’s sanctions list. The Foreign Office said it would be
‘Beyond imagination’: Pakistan PM warns of IMF bailout conditions
Pakistan’s Prime Minister Shehbaz Sharif has said that the government will have to agree to International Monetary Fund (IMF) bailout conditions that are “beyond imagination”. Sharif’s comments on Friday came
ShareAction response to European Parliament’s Economic and Monetary Affairs Committee decision to enhance the financial sector’s due diligence obligations
The European Parliament’s Economic and Monetary Affairs Committee (ECON) have committed to enhance the obligation on the financial sector to undertake due diligence on human rights and environmental impact. Commenting
A US research firm has accused Adani of pulling “the largest con in corporate history”
A US-based financial forensic firm has alleged that India’s Adani Group, led by the world’s third-richest person Gautam Adani, is involved in a massive and “brazen stock manipulation” and “accounting
How gold mining in Brazil is connected to hundreds of deaths
In mid-January, Brazil’s President Luiz Inacio Lula da Silva accused the country’s former president, Jair Bolsonaro, of facilitating genocide against the Indigenous Yanomami people, who live deep in the Amazon rainforest along the border
Greenwashing on food, drink, toiletry labels to be scrutinised in UK
LONDON, Jan 26 (Reuters) – Britain’s competition regulator will consider whether companies selling food, drink and toiletries are wrongly labelling products as “sustainable” or “better for the environment” in its
US: Financial world celebrates slowing wage and employment growth in new jobs report
The drops in both new jobs and wage growth contained in a Department of Labor report released on Friday elicited cheers from financial world insiders. “This is a really terrific jobs
Pedro Castillo: The 180 minutes that made Peru tremble
In the early days of his presidency, he was acclaimed by crowds in public squares as the humble man representing those who had never held power in Peru. On Wednesday,
Davos struggles to get used to a world without Russia
DAVOS, Switzerland — For the second year in a row, Western sanctions have prevented Russian officials and oligarchs from attending the World Economic Forum in Davos, the Swiss ski-resort town
Revealed: more than 90% of rainforest carbon offsets by biggest provider are worthless, analysis shows
The forest carbon offsets approved by the world’s leading provider and used by Disney, Shell, Gucci and other big corporations are largely worthless and could make global heating worse, according to a
Five political decisions that drove the NHS to the brink
Rishi Sunak was once again forced to deny that the NHS is facing a crisis this weekend, claiming that the service is merely “under pressure”. The prime minister has continued
€60bn earmarked for EU Covid recovery could go to fossil-fuel projects
Billions of euros ringfenced for Europe’s post-Covid recovery could be diverted into a raft of new fossil-fuel infrastructure projects, deals which may lock Europe into contracts for the next 20
Is aid from the richest countries really at a record high?
Aid from the world’s biggest donors is reaching record levels, according to the latest assessments. But as usual, there’s nuance behind the numbers. Official development assistance (ODA) from the world’s
Washington state just started capping carbon emissions. Here’s how it works.
Washington state rang in the New Year with the launch of its most ambitious plan to slash carbon pollution. The new “cap-and-invest” program is designed to follow in the footsteps
European investors give China the cold shoulder
As tensions between the EU and China rise, European companies are turning to Southeast Asia for investment. This trend will likely continue, despite Beijing relaxing its strict Zero-COVID policy. Following
Guidance on corporate nature targets is on its way
Guidance on corporate targets and measurements is coming for the land sector after the announcement of qualitative global commitments. When cutting carbon emissions for the good of the planet became
Heard of “Net-Zero Oil” or “Carbon Negative” Bioenergy? In 2023 You Will
Last year, DeSmog chased ambitious stories all along the climate spectrum. We investigated allegations of workers exposed to radioactive oilfield waste, reported from the frontlines of climate-fueled extreme weather and climate migration, expanded our coverage
Japan’s million-yen idea to tackle demographic decline
Japan’s government will pay families three times more to leave Tokyo and relocate to less densely populated regions of the country. Since the 2019 fiscal year, parents have been able
Liberal Sweden put to the test as transatlantic trade war looms
On timing, Sweden could be forgiven for cursing its luck. Just as the country embarks on its EU presidency, the bloc is facing not only an economy-hammering war on its
Latin America’s pink tide is preparing for the green revolution
Luiz Inácio Lula de Silva’s narrow victory over incumbent Jair Bolsonaro in Brazil’s recent presidential election has reinvigorated the Latin American left. Despite recent setbacks in Peru and Argentina, left-wing governments in the
COP15 Global Biodiversity Framework – ShareAction response
(Monday 19th December) Commenting on the adoption of Kunming-Montreal Global Biodiversity Framework at COP15 in Canada today, Katie Leach, Head of Biodiversity at responsible investment NGO ShareAction, said: “World leaders have today
How 2022 shocked, rocked and rolled global markets
LONDON, Dec 30 (Reuters) – Trillions of dollars wiped off world stocks, bond market tantrums, whip-sawing currency and commodities and the collapse of a few crypto empires – 2022 has
Secret files reveal how UN climate advisers ‘greenwashed’ for BP
The PR firm advising the UN on climate change campaigns has been accused by US lawmakers of helping BP “greenwash” its fossil fuel investments, openDemocracy can reveal. Internal BP documents released to
What do politicians really think of economists? New research explains why relations fell apart after 2008
As countries across Europe and around the world grapple with high living costs and impending recession, voters are concerned about the economy and how their elected representatives will fix it. For many,
Sanders’ Bill to Expand Worker Ownership Passes Senate in Omnibus
Legislation that Sen. Bernie Sanders unveiled 13 years ago to help boost workplace democracy and curb worsening inequality in the United States was included in the $1.7 trillion omnibus package approved by
‘An amazing year’: Scotland sees renewables generation soar 55 per cent
Renewable energy generation in Scotland during the third quarter of the year rose a massive 55 per cent year-on-year, according to new figures from the Scottish government released yesterday. The data
HSBC announces it will no longer finance new oil and gas fields – ShareAction response
(Wednesday 14th December) Responding to today’s announcement that HSBC, the UK’s biggest high street bank and one of the world’s biggest financers of fossil fuels, will no longer finance new
Why the US is backing the Africa Continental Free Trade Area
More investments in Africa could see the Biden administration reduce China and the EU’s dominance in trade with Africa The US is optimistic that if the Africa Continental Free Trade Area (AfCFTA)
India: Families of migrants who died in Qatar seek answers
Mammai Bhoo Laxmi’s husband went to Qatar to work on its FIFA World Cup infrastructure as a construction worker. Within one week of arriving, he was reported dead. Eight years
Weekend showdown looms for EU carbon pricing revamp
Europe’s carbon market expansion plans could hardly have come at a worse time. Starting Friday, EU institutions will attempt to finalize an extensive revamp of the bloc’s Emissions Trading System (ETS),
Labour’s plan to ‘abolish’ the House of Lords: what exactly has been proposed – and the chances Keir Starmer will adopt it
A commission led by former prime minister Gordon Brown has called for a future Labour government to replace the controversial House of Lords with an elected upper chamber, in a
Landlords’ efforts to turn students against new renters’ rights
The UK’s largest landlord body has sent letters to more than 20 university unions representing thousands of students in its drive to get students cut out of new renters’ rights.
Historic Offshore Wind Lease Sale in California Gets Over $750 Million in Winning Bids
Climate and environmental campaigners on Wednesday hailed the first-ever U.S. government offshore wind power lease sale off the Pacific coast, an auction that drew over three-quarters of a billion dollars in
MPs Advocate for NHS Privatisation While Being Funded by Private Health Firms
A lobbying group led by Conservative MPs and peers has released a report recommending the further privatisation of the NHS while being funded by private health companies, Byline Times can reveal.