Connect with us

Reports

Public climate finance to developing countries is rising

MD Staff

Published

on

Public climate finance from developed to developing countries totalled USD 56.7 billion in 2017, up 17% from USD 48.5 billion in 2016, according to new data compiled by the OECD.

A new data series for 2013-2017 shows that public climate finance has risen by 44% from USD 39.5 billion in 2013. The year-on-year rise has been steady aside from a small dip in 2015.

The data includes bilateral public climate-related aid from developed countries, multilateral climate finance attributable to developed countries, and officially supported climate-related export credits from developed countries. Updated estimates of mobilised private climate finance flows are due to be provided in 2019. Previously estimated mobilised private climate finance for 2013-14 are provided in the report for completeness.

The 2017 figure is consistent with a linear pathway to the level of public climate finance from developed countries that the OECD projected in a previous report in 2016 would be reached in 2020, i.e. USD 66.8 billion in 2020, excluding export credits.

Public climate finance from developed to developing countries is rising 

The data series shows that bilateral public climate finance increased by 20% from 2013 to 2017 to reach USD 27 billion. Multilateral climate finance attributable to developed countries rose by 79% to USD 27.5 billion, and climate-related export credits increased by 31% to USD 2.1 billion.

Within that, finance for adaptation to climate change rose by 65% from USD 7.8 billion in 2013 to USD 12.9 billion in 2017. Finance for climate change mitigation rose by 38% from USD 28.2 billion to USD 38.9 billion, and finance for cross-cutting activities rose 37% from USD 3.5 billion to USD 4.8 billion.

The relative mix of grants to loans (concessional and non-concessional) was relatively stable over the five-year period. Grants represented over a third of bilateral and less than 10% of multilateral climate finance, while loans accounted for about 60% of bilateral and nearly 90% of multilateral finance. Grant financing rose by 25% from USD 10.3 billion in 2013 to USD 12.8 billion in 2017, while the volume of loans doubled to USD 40.3 billion in 2017 from USD 20.0 billion in 2013. The majority of bilateral loans were concessional; most multilateral loans were non-concessional.

All regions received increasing amounts of public climate finance over the period. Asia, followed by Africa and Latin America, received the largest share of bilateral and multilateral climate finance over the period at more than 80% in any given year.

Continue Reading
Comments

Reports

Urgent action needed to address growing opioid crisis

Newsroom

Published

on

Governments should treat the opioid epidemic as a public health crisis and improve treatment, care and support for people misusing opioids. Overdose deaths continue to rise, fuelled by an increase in prescription and over-prescription of opioids for pain management and the illicit drugs trade, according to a new OECD report.

Addressing Problematic Opioid Use in OECD Countries examines how, over the past few years, the crisis has devastated families and communities, especially in North America. It documents that deaths are also rising sharply in Sweden, Norway, Ireland, and England and Wales.

Between 2011 and 2016, in the 25 OECD countries with available data, opioid-related deaths increased by more than 20%. In Canada, for example, there were more than ten thousand opioid-related deaths between January 2016 and September 2018, with rates increasing from 8.4 per 100,000 people to 11.8 over this period. Opioid abuse has also put a growing burden on health services through hospitalisation and emergency room visits.  

“The opioid epidemic has hit the most vulnerable hardest,” said Gabriela Ramos, OECD Chief of Staff and G20 Sherpa, launching the report in Paris. “Governments need to take decisive action to stop the tragic loss of life and address the terrible social, emotional and economic costs of addiction with better treatment and health policy solutions. But the most effective policy remains prevention.”

The majority of those who die in Europe are men, accounting for 3 out of 4 deaths. However, in the United States, opioid use has been rising among pregnant women, particularly among those on low incomes. Having a mental health disorder was also associated with a two-fold greater use of prescription opioids in the US.

Prisoners too are vulnerable. The prevalence rate of opioid use disorders in Europe was less than 1% among the general public but averaged 30% in the prison population. Social and economic conditions, such as unemployment and housing, have also contributed to the epidemic.

An increase in prescription and over-prescription of opioids for pain management is among the factors driving the crisis. Governments should review industry regulations to ensure they protect people from harm as, since the late 1990s, manufacturers have consistently downplayed the problematic effect of opioids.

Doctors should improve their prescribing practices, for instance through evidence-based clinical guidelines and increased surveillance of opioid prescriptions. Governments can also regulate  marketing and financial relationships with opioid manufacturers. Coverage for long-term medication-assisted therapy, such as methadone and buprenorphine, should be expanded, in coordination with harm minimisation specialised services for infectious diseases management, such as HIV and hepatitis.

Strengthening the integration of health and social services, such as unemployment and housing support, and criminal justice systems would help improve treatment for people with Opioid Use Disorder.

Continue Reading

Reports

Italy should boost spending and strengthen cooperation and integration of employment services

Newsroom

Published

on

Italy should boost spending and cooperation at national and regional levels as part of broader efforts to help more people into work and reduce the country’s high unemployment rate, according to a new OECD report.

Strengthening Active Labour Market Policies in Italy says that the country faces greater labour market challenges than most other OECD countries. The employment rate and labour productivity are low, youth unemployment is still around 30% and the gender employment gap and long-term unemployment are decreasing only slowly.

Regional disparities are high and persistent compared to most other OECD countries. Spending on active labour market policies (0.51% of GDP) is close to the OECD average but well below the average of EU countries and levels in countries with similar unemployment rates. Moreover, active labour market policies are not well targeted to the most effective programmes and people in need, relying heavily on employment incentives. Only 2% of the budget is devoted to services that have internationally proved to be more cost-effective, such as job mediation, job placement and related services.

Public employment services play only a modest role as job brokers. Only about half of unemployed persons in Italy are registered with the public employment service (centri per l’impiego) and only half of them use these services to look for work. Access to and quality of employment services vary greatly across the country.

“To improve the performance of employment services, there is a need for further funding, boosting the local offices’ staff and their skills and modernising the IT infrastructure,” said Stefano Scarpetta, OECD Director for Employment, Labour and Social Affairs, launching the report in Rome. “The ongoing reform started by the Jobs Act and the recent additional financial allocations to the system of public employment services have the potential to improve the performance of employment services in Italy.” 

However, for the real gains to the labour market to emerge, cooperation and co-ordination should be simultaneously introduced in the system. Within the decentralised governance system, national and regional authorities need to agree on a binding framework for accountability, enabling to measure performance of employment offices according to a set of indicators and their regionally-adjusted target levels.

The funding of local offices from the state budget should be somewhat contingent not only on the number of clients to serve but also on improvements in performance indicators, thus providing incentives to improve the quality and effectiveness of services provided.

The recent introduction of the citizen income (Reddito di cittadinanza) adds further responsibilities to the system of employment services as the new benefit recipients should receive support with job-search and should be provided the necessary active measures to succeed in that. As such, improvements in the investment and performance of the system of employment services become today more critical than ever.

Continue Reading

Reports

Oil Market Report: Markets remaining calm

MD Staff

Published

on

The theme we identified in last month’s Report of “mixed signals” is appropriate again this month, with geopolitics and industry disruptions confusing the supply outlook, and the first change to our 2019 demand outlook for several months. The ongoing geopolitical supply concerns around Libya, Iran, and Venezuela have been joined in the past few days by the attacks on shipping off Fujairah and on two pumping stations in Saudi Arabia. At the time of writing, there is no disruption to oil supplies and prices are little changed. The IEA is monitoring the situation, particularly in view of the proximity of Fujairah to the strategically vital Strait of Hormuz. We are also monitoring the impact of the contamination of Russian crude oil passing through the 1.4 mb/d Druzhba pipeline system. The issue will be resolved in due course, eased by commercial and government stock draws by Russia’s customers. One consequence could be a loss of confidence in the quality of the crude flows and thus a search, where feasible, for alternative supplies that could intensify price pressures for heavy/medium sour crude oil.

Despite the difficult geopolitical backdrop and other supply problems, headline oil prices are little changed from a month ago at just above $70/bbl for Brent. In the intervening period, the decision by the United States to cease the waiver programme for buyers of Iran’s crude oil did see Brent briefly reach $75/bbl. However, there have been clear and, in the IEA’s view, very welcome signals from other producers that they will step in to replace Iran’s barrels, albeit gradually in response to requests from customers. There is certainly scope for other producers to step up production with our data showing that in April parties to the Vienna Agreement collectively produced 440 kb/d less than they promised, with Saudi Arabia producing 500 kb/d below its allocation. Of course, as we wrote in the February edition of this Report, there are quality issues for refiners used to processing Iranian barrels and the fact that increases in output come at the cost of reducing the global spare capacity cushion.

In this Report, there is a modest offset to supply worries from the demand side. Our headline growth estimate for 2019 has changed little since the middle of last year, but this month we cut it by 90 kb/d to a still healthy 1.3 mb/d. The reduction is mainly concentrated in 1Q19 on weaker than expected data for Brazil, China, Japan, Korea, Nigeria, and elsewhere lowering growth by 410 kb/d versus our last Report. Even so, slower demand growth is likely to be short-lived, as we believe that the pace will pick up during the rest of the year. An important implication of our revised demand data is that in 1Q19 the oil market saw an implied surplus of supply over demand of 0.7 mb/d, which was higher than previously suggested. As we move through 2Q19, while there is considerable uncertainty on the supply side, it is highly likely that the implied balance will flip into an indicative deficit of about the same size. Stocks in the OECD at the start of April have fallen back to the level seen in July in terms of days of forward cover and other stock indicators are pointing in the same direction.

For now, despite all the supply uncertainty, headline Brent oil prices are little changed from a month ago. However, the backwardation has steepened considerably and front month prices are about $3/bbl higher than for six months out. The decline of 230 kb/d in the North Sea loading programme for June versus May, although not a surprise, is another important factor adding to overall concerns about supply. Elsewhere, contract prices are rising sharply with Asian customers paying significantly more for barrels from Middle East sources as they seek to replace their normal supplies of Iranian crude. Basrah Light, for example, was reported as offered at its highest level for nearly eight years.

The IEA is reassured to see that the challenges posed by the supply uncertainties are being managed and we hope that major players will continue to work to ensure market stability.

IEA

Continue Reading

Latest

Hotels & Resorts42 mins ago

Marriott International Debuts JW Marriott Hotel in Qufu, Birthplace of Confucius

JW Marriott announced the opening of the new JW Marriott Hotel Qufu in Shandong province, China. Owned by Shandong Luneng,...

Middle East2 hours ago

The Iran Question

Will there be war with Iran?  Will there not be war with Iran?  The questions are being asked repeatedly in...

Urban Development4 hours ago

The living air purifiers cities need more of

In our all-too-hectic urban lives, a city park is a great place to unwind. Trees and green spaces have mental...

Reports14 hours ago

Urgent action needed to address growing opioid crisis

Governments should treat the opioid epidemic as a public health crisis and improve treatment, care and support for people misusing...

Intelligence16 hours ago

Central Asian Jihadi Groups Joined Taliban’s “Al-Fath Jihadi Operations”

Al Qaeda-backed jihadist groups Katibat Imam al Bukhari (KIB), the Islamic Jihad Union (IJU) and the Turkestan Islamic Party (TIP),...

Newsdesk18 hours ago

UNIDO and Italy further strengthen cooperation with focus on Africa and innovative partnerships

The Director General of the United Nations Industrial Development Organization (UNIDO), LI Yong, spoke at the opening ceremony of the...

Green Planet20 hours ago

India advances ground-breaking plan to keep planet and people cool

India’s new comprehensive Cooling Action Plan targets an increase in sustainable cooling for the good of its population, while helping...

Trending

Copyright © 2019 Modern Diplomacy