Connect with us

News

Supercharging economic development through South-South collaboration

Published

on

The Commonwealth joins in marking UN Day for South-South Cooperation, and the 40th anniversary of the 1978 adoption, by consensus, of the Buenos Aires Plan of Action for Promoting and Implementing Technical Cooperation among developing countries.

As a practical example of steps being taken towards greater inclusiveness and collaboration, Commonwealth Secretary-General Patricia Scotland today announced that the Commonwealth Secretariat is to sign a new agreement with the United Nations Office for South-South Cooperation (UNOSSC),

The Memorandum of Understanding (MOU) between the two organisations, to be signed in New York during the UN General Assembly later this month, aims to boost collaboration among countries of the Global South – nations classified as developing or least developed.

The Secretary-General said, “Since taking on the role of Commonwealth Secretary-General, I have become more aware than ever of the challenges facing developing and least developed countries. I know just how deeply exercised leaders in the Global South are by the harsh reality of crushing debt, the constant threat of natural disasters, struggling health and education systems, uncertain global markets and tantalising trade opportunities that are just out of reach through lack of capacity.

“I have also seen how prospects and progress can be supercharged when countries of the Global South collaborate and tap into the talent and ingenuity available within their own populations.”

The MOU will help the Commonwealth Secretariat and UNOSSC to work more closely together towards accelerating economic development by promoting partnerships, coordinated activities, South-South knowledge sharing, and scaling up and showcasing development solutions from the Global South.

It will cover a range of areas including:

  • supporting intra-regional, regional, and sub-regional integration;
  • addressing challenges related to the mandate of each participant such as education, public health, social welfare, infrastructure, women in development, youth leadership and climate change and related areas;
  • reinforcing peacebuilding and sustainable development;
  • and promoting and supporting the implementation of the Sustainable Development Goals.

“We have already been encouraging and facilitating this type of collaboration through initiatives such as our Commonwealth Office of Civil and Criminal Justice Reform, which is strengthening rule of law and regulatory frameworks by enabling countries to learn from each other as they share their legal instruments and legislation,” said Secretary-General Scotland.

She added, “Our Climate Finance Access Hub, draws expertise from all over the Commonwealth and is creating regional and pan-Commonwealth networks that have already unlocked millions of US dollars’ worth of funding for countries. This MOU with UNOSSC will help us to multiply such success stories.”

Continue Reading
Comments

Development

Modi Urges All Countries to Embrace Sustainable Lifestyles

Published

on

NarendraModi

Prime Minister Narendra Modi of India used his address to the Davos Agenda 2022 to call on all countries to shift from a throwaway culture towards more sustainable lifestyles. Modi emphasized that while India is home to 17% of the world’s population, it contributes only 5% of global emissions.

“It is very essential that we move away from today’s take-make-use-dispose economy and towards a circular economy,” he said. India, which co-launched the International Solar Alliance at COP26 to ensure universal access to affordable solar energy, today generates 40% of its energy from non-fossil sources. Modi underlined that the next phase of India’s growth will be “green, clean, sustainable and reliable”.

The prime minister questioned the ability of the world’s multilateral organizations to meet challenges that did not exist when they were created. He said that reforming these institutions is “the responsibility of every democratic country”. In a clear call for greater global cooperation, he said: “Today, more than ever before, countries need each other’s help – this is the only path to a better future.” He offered India’s vision of One Earth One Health as a means of responding to global challenges, from the COVID-19 pandemic to climate change.

India is an entrepreneurial powerhouse that has created 10,000 new start-ups in the past six months and over 40 unicorns in 2021, Modi said, propelling the country into the top three in the world for billion-dollar new ventures. Its digital infrastructure is developing rapidly, with over 4.4 billion transactions taking place on its United Payments interface in the past month alone. Over the period 2020-2021, India attracted $82 billion in foreign direct investment – a new record. Modi said India is committed to becoming a trusted partner for global supply chains.

In a bid to improve the ease of doing business, Modi outlined the measures his government is taking to reduce government intervention to the minimum. He has done away with over 25,000 tax compliances in the past year and deregulated most sectors for investment, except for defence, aerospace and telecoms. His government is investing $1.3 trillion on connectivity-related infrastructure through its GatiShakti National Master Plan, which includes connecting over 6,000 villages through optical fibre. The plan’s aim, he said, is to “give new impetus to seamless connectivity for movement of goods, people and services”. India is also investing $26 billion to boost manufacturing and resilient supply chains.

The Prime Minister also spoke to the importance of collective and synchronized action to face global challenges. He highlighted new technology as an important area for countries to act together, “Another example is cryptocurrency. Given the kind of technology it is associated with, the decisions taken by a single country will be insufficient to deal with its challenges.”

Modi said India enters 2022 “infused with self-confidence”. Its economic growth is projected to hit 8.5%. It has already administered 1.6 billion COVID-19 vaccines. And, he added: “Our multilingual, multicultural environment is a great strength [that] teaches us not just to think of ourselves in times of crisis but to work in the best interests of the world.”

Continue Reading

Finance

China: $1.9 Trillion Boost and 88M Jobs by 2030 Possible with Nature-Positive Solutions

Published

on

Nearly $9 trillion, two-thirds of China’s total Gross Domestic Product (GDP), is at risk of disruption from nature loss. Making China’s economy ‘nature-positive’ could generate $1.9 trillion in additional annual revenue and create 88 million jobs by 2030.

These are the findings of the latest report by the World Economic Forum Seizing Business Opportunities in China’s Transition Towards a Nature-positive Economy.

“Businesses can create a virtuous cycle between people, planet and profit. Investing in and living in harmony with nature will better secure sustained performance and prosperity. Chinese businesses can harness technologies and innovation, while adopting and promoting the UN Global Biodiversity Framework to collectively shape a more resilient and beautiful future for China,” said Gim Huay Neo, Managing Director, World Economic Forum.

The new report, in collaboration with Golden Bee, shows how significant business opportunities can be created if new business practices are adopted across three socio-economic systems: food, land and ocean use; infrastructure and the built environment; and energy and extractives. These systems are interconnected and can unlock untapped economic potential.

The report highlights progress to date, provides case studies and offers recommendations to accelerate new growth across these three systems.

– Food, land and ocean use: Six transitions can generate almost $565 billion in additional annual revenue and create 34 million new jobs by 2030. One of transitions identified would be – eco-tourism, projected to create some $53 billion of additional revenue in China – providing the largest business opportunity in accelerated ecosystem restoration and avoided land and ocean over-exploitation.

– Infrastructure and built environment: Five transitions to transform this system could add roughly $590 billion in annual revenue and create 30 million new jobs by 2030. An example of a key opportunity in this system’s transformation is promoting the use of smart parking – a market worth $94 billion in 2020 but expected to grow to around $219 billion by 2025.

– Energy and extractives: Four transitions could create almost $740 billion in additional revenue per year and 23 million new jobs by 2030. Improving how resources are used or reused throughout the vehicle lifecycle could create roughly $122 billion of commercial value and over 3.7 million jobs by 2030 in China.

“Nature is critical to China’s continued prosperity and social development. It is also at the heart of its ‘ecological civilization’ vision and intrinsically linked to its climate agenda. While our economy is currently facing non-negligible risk from nature loss, this report shows that taking bold action to ‘put nature first’ can secure our economic, social and climate ambitions while creating substantial business value.” said Justin Lin Yifu, Dean, Institute of New Structural Economics, Peking University, Beijing.

The report also sets out how China is well-placed to lead the transition to a carbon-neutral and nature-positive economy by delivering its “ecological civilization” vision and implementing its new national biodiversity conservation strategy.

The potential gains for China in transforming its economy represent nearly 20% of global business opportunities and jobs creation. As the world enters a decisive decade for action on nature and climate, Chinese government and businesses need to work closely to raise global ambition on biodiversity commitments, drive policy and regulatory changes, lead technological innovations, and mobilize investment.

“China is uniquely positioned to lead a global movement towards a nature-positive, carbon-neutral future. As the president and host of the Convention on Biological Diversity’s COP 15, it provides leadership in setting forth an integrated agenda which builds societal, economic and ecological resilience.” said Elizabeth Mrema, Executive Secretary of the United Nations Convention on Biological Diversity.

Continue Reading

Health & Wellness

UN-backed COVAX mechanism delivers its 1 billionth COVID-19 vaccine dose

Published

on

photo © UNICEF/Aimable Twiringiyima

With a 1.1 million jab delivery in Rwanda this weekend, the World Health Organization’s multilateral initiative to provide equal access to vaccines for all reached the one billion milestone.

Along with the Coalition for Epidemic Preparedness Innovations (CEPI), the Vaccine Alliance GAVI, and partners, WHO has led the largest vaccine procurement and supply operation in history with deliveries to 144 countries to date.

According to a press release published on Sunday, as of 13 January 2022, out of 194 countries members of WHO, 36 have vaccinated less than 10% of their population, and 88 less than 40%.

COVAX’s ambition was compromised by hoarding/stockpiling in rich countries, catastrophic outbreaks leading to borders and supply being locked. And a lack of sharing of licenses, technology, and know-how by pharmaceutical companies meant manufacturing capacity went unused”, the agency explained.

On 24 February 2021, Ghana became the first country in the world to receive vaccines through COVAX when 600,000 doses of the Oxford–AstraZeneca vaccine were delivered to Accra. 

The work that remains

COVAX is currently working with governments, manufacturers and partners to ensure that when countries receive vaccines, they can get them to people quickly.

“The work that has gone into this (1 billion) milestone is only a reminder of the work that remains”, the UN’s health agency underscored.

They added that with updated vaccines in the pipeline, citizens should demand that governments and pharmaceutical companies share health tools globally and “bring an end to the death and destruction cycles of this pandemic, limit new variants and drive a global economic recovery”.

COVAX is one of three pillars of the Access to COVID-19 Tools (ACT) Accelerator, which was launched by WHO in April 2020 in response to the pandemic.

The ACT Accelerator is a ground-breaking global collaboration to accelerate the development, production, and equitable access to COVID-19 tests, treatments, and vaccines. 

Continue Reading

Publications

Latest

NarendraModi NarendraModi
Development2 hours ago

Modi Urges All Countries to Embrace Sustainable Lifestyles

Prime Minister Narendra Modi of India used his address to the Davos Agenda 2022 to call on all countries to...

Finance5 hours ago

China: $1.9 Trillion Boost and 88M Jobs by 2030 Possible with Nature-Positive Solutions

Nearly $9 trillion, two-thirds of China’s total Gross Domestic Product (GDP), is at risk of disruption from nature loss. Making...

Health & Wellness7 hours ago

UN-backed COVAX mechanism delivers its 1 billionth COVID-19 vaccine dose

With a 1.1 million jab delivery in Rwanda this weekend, the World Health Organization’s multilateral initiative to provide equal access...

Development9 hours ago

Xi Jinping Calls for Greater Global Cooperation to Tackle Common Challenges

President Xi Jinping of China called for stronger international cooperation in overcoming shared global challenges including defeating COVID-19, revitalizing the...

Style10 hours ago

Start your days with a better morning routine

Your morning sets the tone for the day to come. By starting the day with intent you’ll find yourself in...

Europe12 hours ago

The French Dispatch: The Year 2022 and European Security

2021 has been rich in negative events for European security: the world has witnessed the collapse of the Open Skies...

Africa14 hours ago

Pragmatic Proposals to Optimize Russia’s Pledged Rehabilitation of Ethiopia

Russian Ambassador to Ethiopia Evgeny Terekhin pledged that his homeland will help rehabilitate his hosts after getting a clearer understanding...

Trending