Economy

WHO/COP26 Special report on Climate Change and Health for Glasgow climate summit

WHO/COP26 Special report on Climate Change and Health for Glasgow climate summit

Tuesday, October 12th 2021 – 08:00 UTC


“We need a comprehensive approach to the debt problem, including debt reduction, swifter restructuring and improved transparency,” said World Bank Group President David Malpass

Countries must set ambitious national climate commitments if they are to sustain a healthy and green recovery from the COVID-19 pandemic.

The WHO COP26 Special Report on Climate Change and Health, launched on Monday, in the lead-up to the United Nations Climate Change Conference (COP26) in Glasgow, Scotland, spells out the global health community’s prescription for climate action based on a growing body of research that establishes the many and inseparable links between climate and health.

“The COVID-19 pandemic has shone a light on the intimate and delicate links between humans, animals and our environment,” said Dr Tedros Adhanom Ghebreyesus, WHO Director-General. “The same unsustainable choices that are killing our planet are killing people. WHO calls on all countries to commit to decisive action at COP26 to limit global warming to 1.5°C – not just because it’s the right thing to do, but because it’s in our interests. WHO’s new report highlights 10 priorities for safeguarding the health of people and the planet that sustains us.”

The WHO report is launched at the same time as an open letter, signed by over two-thirds of the global health workforce – 300 organizations representing at least 45 million doctors and health professionals worldwide, calling for national leaders and COP26 country delegations to step up climate action.

“Wherever we deliver care, in our hospitals, clinics and communities around the world, we are already responding to the health harms caused by climate change,” the letter from health professionals reads. “We call on the leaders of every country and their representatives at COP26 to avert the impending health catastrophe by limiting global warming to 1.5°C, and to make human health and equity central to all climate change mitigation and adaptation actions.”

The report and open letter come as unprecedented extreme weather events and other climate impacts are taking a rising toll on people’s lives and health. Increasingly frequent extreme weather events, such as heat waves, storms and floods, kill thousands and disrupt millions of lives while threatening healthcare systems and facilities when they are needed most. Changes in weather and climate are threatening food security and driving up food-, water- and vector-borne diseases, such as malaria, while climate impacts are also negatively affecting mental health.

The WHO report states: “The burning of fossil fuels is killing us. Climate change is the single biggest health threat facing humanity. While no one is safe from the health impacts of climate change, they are disproportionately felt by the most vulnerable and disadvantaged.”

Meanwhile, air pollution, primarily the result of burning fossil fuels, which also drives climate change, causes 13 deaths per minute worldwide.

The report concludes that protecting people’s health requires transformational action in every sector, including on energy, transport, nature, food systems and finance. And it states clearly that the public health benefits from implementing ambitious climate actions far outweigh the costs.

“It has never been clearer that the climate crisis is one of the most urgent health emergencies we all face,” said Dr Maria Neira, WHO Director of Environment, Climate Change and Health. “Bringing down air pollution to WHO guideline levels, for example, would reduce the total number of global deaths from air pollution by 80% while dramatically reducing the greenhouse gas emissions that fuel climate change. A shift to more nutritious, plant-based diets in line with WHO recommendations, as another example, could reduce global emissions significantly, ensure more resilient food systems, and avoid up to 5.1 million diet-related deaths a year by 2050.”

Achieving the goals of the Paris Agreement would save millions of lives every year due to improvements in air quality, diet, and physical activity, among other benefits. However, most climate decision-making processes currently do not account for these health co-benefits and their economic valuation.

“The COVID-19 pandemic has shone a light on the intimate and delicate links between humans, animals and our environment,” said WHO chief Dr Tedros

The report comes ahead of the UN climate COP26 climate summit to be held in Glasgow next month.

WHO calls on all countries to commit to decisive action at the Glasgow COP26 to limit global warming to 1.5°C, because it’s in our interests

WHO’s new report highlights 10 priorities for safeguarding the health of people and the planet that sustains us.”

The report is launched at the same time as an open letter, signed by over two-thirds of the global health workforce calling to step up climate action

Low-Income Country debt rises to record US$860 billion in 2020

Governments around the world responded to the COVID-19 pandemic with massive fiscal, monetary, and financial stimulus packages.

While these measures were aimed at addressing the health emergency, cushioning the impact of the pandemic on the poor and vulnerable and putting countries on a path to recovery, the resulting debt burden of the world’s low-income countries rose 12% to a record US$860 billion in 2020, according to a new World Bank report.

Even before the pandemic, many low- and middle-income countries were in a vulnerable position, with slowing economic growth and public and external debt at elevated levels. External debt stocks of low- and middle-income countries combined rose 5.3% in 2020 to US$ 8.7 trillion. According to the new International Debt Statistics 2022 report, an encompassing approach to managing debt is needed to help low- and middle-income countries assess and curtail risks and achieve sustainable debt levels.

“We need a comprehensive approach to the debt problem, including debt reduction, swifter restructuring and improved transparency,” said World Bank Group President David Malpass. “Sustainable debt levels are vital for economic recovery and poverty reduction.”

The deterioration in debt indicators was widespread and impacted countries in all regions. Across all low- and middle-income countries, the rise in external indebtedness outpaced Gross National Income (GNI) and export growth. Low- and middle-income countries’ external debt-to-GNI ratio (excluding China) rose to 42% in 2020 from 37% in 2019 while their debt-to-export ratio increased to 154% in 2020 from 126% in 2019.

In response to the unprecedented challenges posed by the pandemic and at the urging of the World Bank Group and the International Monetary Fund, in April 2020, the G20 launched the Debt Service Suspension Initiative (DSSI) to provide temporary liquidity support for low-income countries. The G-20 countries agreed to extend the deferral period through the end of 2021. In November 2020, the G20 agreed on a Common Framework for Debt Treatments beyond the DSSI, an initiative to restructure unsustainable debt situations and protracted financing gaps in DSSI-eligible countries.

Overall, in 2020, net inflows from multilateral creditors to low- and middle-income countries rose to US$ 117 billion, the highest level in a decade. Net debt inflows of external public debt to low-income countries rose 25% to US$ 71 billion, also the highest level in a decade. Multilateral creditors, including the IMF, provided US$ 42 billion in net inflows while bilateral creditors accounted for an additional US$ 10 billion.

“Economies across the globe face a daunting challenge posed by high and rapidly rising debt levels,” said Carmen Reinhart, Senior Vice President and Chief Economist of the World Bank Group. “Policymakers need to prepare for the possibility of debt distress when financial market conditions turn less benign, particularly in emerging market and developing economies.”

Greater debt transparency is critical in addressing the risks posed by rising debt in many developing countries. To facilitate transparency, International Debt Statistics 2022 was expanded to provide more detailed and disaggregated data on external debt than ever before. The data now gives the breakdown of a borrowing country’s external debt stock to show the amount owed to each official and private creditor, the currency composition of this debt, and the terms on which loans were extended. For DSSI-eligible countries, the dataset was expanded to include the debt service deferred in 2020 by each bilateral creditor and the projected month-by-month debt-service payments owed to them through 2021. The World Bank will also publish soon a new Debt Transparency in Developing Economies report that takes stock of debt transparency challenges in low-income countries and lays out a detailed list of recommendations to address them.

International Debt Statistics (IDS) is a longstanding annual publication of the World Bank featuring external debt statistics and analysis for the 123 low- and middle-income countries that report to the World Bank Debt Reporting System (DRS).

 




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