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Lack of Water Linked to 10 Percent of the Rise in Global Migration
August 23, 2021--In the Middle East and North Africa, the region with the highest levels of forced displacement, water resilience is key to long-term growth
As climate change accelerates a global water crisis, rainfall variability is expected to be one of the contributing forces in migration, according to a new World Bank report released today.
The report anticipates that the world's cities, which receive migrants and are now home to 55% of the global population, will face a rising number of "day-zero" events-when taps run dry.
The report, Ebb and Flow, provides the first-ever global assessment of the impact of water on migration. It is based on analysis of the largest data set on internal migration ever assembled, covering nearly half a billion people from 189 population censuses in 64 countries, and several national and global data sets that have been combined for the first time.
Ebb and Flow: Water, Migration, and Development
August 23, 2021--This report examines the link between water and migration,and the implications for economic development. The report is based on analysis of the largest data set on internal migration ever assembled,covering nearly half a billion people from 189 population censuses in 64 countries from 1960 to 2015.
It assesses how rainfall shocks are related to migration relative to other key variables such as age,gender,education,and household size. The report is in two parts. Volume 1 covers water,migration,and development. Volume 2 focuses on water,forced displacement and conflict in the Middle East and North Africa.
1 in 2 Unsure of Globalization's Benefits, Survey Finds
August 19, 2021--Globalization questioned by almost half of those surveyed, with many advocating for trade barriers
Decline in trust and ambivalence likely a symptom exacerbated by the COVID-19 pandemic
For fair outcomes, governments need to work with local officials to create policies related to the environment, jobs and tax, expert says.
Public perception of globalization has declined over the past two years, with almost half unsure of its benefits and more than one-third advocating for trade barriers.
Findings from the latest World Economic Forum/Ipsos market survey of almost 20,000 people in 25 countries show a mix of polarization and ambivalence about free trade, globalization, and protectionist policies.
Trends show 75% of those surveyed agreeing that expanding trade is a good thing, yet almost 40% believe there should be more trade barriers to limit imports of foreign goods and services. Notably, 36% are neutral or have no option.
Chainalysis Releases 2021 Global Crypto Adoption Index To Kick Off Geography Of Cryptocurrency Report Series
August 18, 2021--The index provides insights into the data the blockchain platform provides by measuring cryptocurrency adoption and the methodology behind it around the globe.
Chainalysis, the blockchain data platform, today released its 2021 Global Crypto Adoption Index, the second iteration of its efforts to measure grassroots cryptocurrency adoption around the world. The index is the first part of Chainalysis's series of reports which will be followed by a DeFi index and regional analyses.
As cryptocurrency adoption continues to grow globally, organizations ranging from banks to institutional investors to everyday consumers are taking notice and incorporating digital assets into their financial strategy. But patterns of cryptocurrency usage vary widely around the world.
BIS-Could corporate credit losses turn out higher than expected?
August 18, 2021--Key takeaways
Credit risk forecasts should provide information both about losses in a baseline scenario ("expected losses") and about the potential for extreme outcomes ("unexpected losses").
Policy support measures have kept debt service costs low during the pandemic, thus underpinning benign baseline forecasts of corporate credit losses up to 2024.
High indebtedness, built up when the pandemic impaired real activity, suggests increased tail risks: plausible deviations from the baseline scenario feature ballooning corporate insolvencies.
Spread of COVID-19 Delta variant knocks oil demand outlook-IEA
August 12, 2021--Rising demand for oil abruptly reversed course in July and is set to proceed more slowly for the rest of the year due to the spread of the COVID-19 Delta variant, the International Energy Agency said on Thursday.
"Growth for the second half of 2021 has been downgraded more sharply, as new COVID-19 restrictions imposed in several major oil consuming countries, particularly in Asia, look set to reduce mobility and oil use," the Paris-based IEA said.
IOSCO publishes results of examination of ETF behavior during COVID-19 induced market stresses
August 12, 2021--The Board of the International Organization of Securities Commissions (IOSCO) today published a view more
BIS-Macroeconomic effects of Covid-19: a mid-term review
August 11, 2021--Summary
Focus
The global economy has rebounded strongly from the trough last year, as vaccination paved the way for lifting restrictions. Yet the recovery is uneven and global outlook remains uncertain. Many countries face vaccine shortages, and new virus strains threaten to derail progress made. To prepare for challenges lying ahead, it will be important to draw on experiences to date.
Contribution
This paper evaluates output losses resulting from the pandemic from historical and cross-country perspectives. It discusses challenges in managing the pandemic, notably in balancing health and economic goals. It draws some key lessons, as informed by the literature and model estimates. Findings
Estimates suggest a median output loss of about 6.5% in 2020. This should narrow to around 4% of the pre-pandemic trend by the end of 2021.
Refinitiv Launches USD IBOR Cash Fallbacks Prototype
August 11, 201--The Alternative Reference Rates Committee today welcomed the prototype publication launch of its recommended spread adjustments and spread adjusted rates for cash products by Refinitiv-which it selected in March to publish Libor cash fallback spreads and rates.
Refinitiv is publishing one version for consumer cash products and another for international cash products. Both will be published to five decimal places.
We need to talk about Net Zero bullsh*t
-Pablo Berrutti questions the credibility of disclosures, CCS and scenario analysis in the race to Net Zero
August 11, 2021--After being accused of lying in the 1980 comedy classic the Blues Brothers, Elwood Blues tells his brother Jake that it "Wasn't lies, it was just...bullsh*t".
Fast forward 25 years and what was a funny, slightly crass (and somewhat dubious) distinction, took on an altogether more profound meaning when Princeton University Philosopher Harry Frankfurt released his 2005 book On Bullsh*t.
Frankfurt argued that “bullsh*t is speech intended to persuade without regard for truth”.
"While a liar cares about the truth and attempts to hide it; the bullsh*tter doesn’t care if what they say is true or false, but rather only cares whether their listener is persuaded."
Elwood Blues was more right than he knew.
In matters of sustainability, greenwash is a form of bullsh*t. At its most sinister, it is trying to persuade with green tokenism from a fundamentally unsustainable core, but mostly it is less conscious with elements of truth intertwined. As the greenwasher is less interested in truth than persuasion, it is bullsh*t either way.
In the same way that Elwood Blues discerned the difference between lies and bullsh*t, Duncan Austin divided 'greenwish' from greenwash in his 2019 paper, Greenwish: The Wishful Thinking Undermining the Ambition of Sustainable Business.