Tag Archives: Japan

‘Utterly Absurd’: Rich Nations Spending Climate Dollars on Coal Projects and Chocolate Shops

“Essentially, whatever they call climate finance is climate finance,” said one developing nation’s lead climate negotiator.

By Brett Wilkins. Published 6-2-2023 by Common Dreams

Activists including members of frontline communities protest Japanese financing of international fossil fuel projects including coal plants in Matarbari, Bangladesh and Indramayu, Indonesia on October 4, 2021 in Tokyo. (Photo: @market_forces/Twitter)

Wealthy nations are spending money under the guise of “climate finance” to fund projects that have little or nothing to do with tackling the climate crisis and—as in the case of three Japanese-backed coal plants—are sometimes fueling the planetary emergency, according to a Reuters investigation published Thursday.

While media outlets including Reuters have recently reported that rich countries are on track—albeit long overdue—to finally meet their 2009 pledge to invest $100 billion annually in climate financing by 2020, the new Reuters investigation shows that governments are funding climate-harming projects and counting the expenditures toward their giving total.

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‘A Death Sentence’: Green Groups Decry G7 Support for More Gas Investments

“Energy security can only be achieved by rapidly and equitably phasing out fossil fuels and transitioning to renewable energy, not locking in deadly fossil fuels and lining the pockets of oil and gas executives,” said one critic.

By Jessica Corbett Published 5-21-2023 by Common Dreams

Activists with masks of Group of Seven leaders protest fossil fuels. (Photo: 350.org Japan/Friends of the Earth Japan/Oil Change International)

Since Group of Seven leaders on Saturday put out a wide-ranging communiqué from a Japan-hosted summit in Hiroshima, climate action advocates from G7 countries and beyond have blasted the statement’s support for future investments in planet-heating gas.

The statement comes after G7 climate, energy, and environment ministers were criticized for their communiqué from a meeting in Sapporo last month as well as protests around the world this week pressuring the summit’s attendees to ditch fossil fuels and “deliver a clear and just renewable energy agenda for a peaceful world.”

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Global Coal Phaseout Must Speed Up to Avert ‘Climate Chaos’: Analysis

“The transition away from existing and new coal isn’t happening fast enough,” said one expert. “The more new coal projects come online, the steeper the cuts and commitments need to be in the future.”

By Kenny Stancil.  Published 4-6-2023 by Common Dreams

Xcel Energy’s Sherburne County (Sherco) Generating Station, a coal-fired power plant, near Becker, Minnesota. Photo: Tony Webster/Wikimedia Commons/CC

 To avert the worst consequences of the climate crisis, the world must stop building new coal plants and shut down existing ones at nearly five times the current rate.

That’s according to an analysis published Wednesday by Global Energy Monitor (GEM) and nearly a dozen other groups, including Reclaim Finance, the Sierra Club, and the Alliance for Climate Justice and Clean Energy.

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$1 trillion in the shade – the annual profits multinational corporations shift to tax havens continues to climb and climb

Looks like paradise – especially if you’re a multinational corporation in need of a tax haven.
LeoPatrizi/E+ via Getty Images

 

Ludvig Wier, University of Copenhagen and Gabriel Zucman, University of California, Berkeley

CC BY-NC-ND

 

About a decade ago, the world’s biggest economies agreed to crack down on multinational corporations’ abusive use of tax havens. This resulted in a 15-point action plan that aimed to curb practices that shielded a large chunk of corporate profits from tax authorities.

But, according to our estimates, it hasn’t worked. Instead of reining in the use of tax havens – countries such as the Bahamas and Cayman Islands with very low or no effective tax rates – the problem has only gotten worse. Continue reading

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Why America has a debt ceiling: 5 questions answered

The sky’s not always the limit.
AP Photo/Susan Walsh

 

Steven Pressman, The New School

Republicans and Democrats are again preparing to play a game of chicken over the U.S. debt ceiling – with the nation’s financial stability at stake.

The Treasury Department on Jan. 13, 2023, said it expects the U.S. to hit the current debt limit of US$31.38 trillion on Jan. 19. After that, the government will take “extraordinary measures” – which could extend the deadline until May or June – to avoid default.

But it’s not clear whether Republicans in the House will agree to lifting the debt ceiling without strings attached – strings that President Joe Biden and Senate Democrats have vowed to reject. Right-wing Republicans demanded that, in exchange for voting for Kevin McCarthy as speaker of the House, he would seek steep government spending cuts as a condition of raising the borrowing limit. Continue reading

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Nobody loved you, 2022

From devastating floods in Pakistan to Italy’s far-right PM to overturning Roe v Wade, this was a year of extremes

By Adam Ramsay  Published 12-30-2022 by openDemocracy

A flooded village in Matiari, in the Sindh province of Pakistan. Photo: Asad Zaidi/UNICEF

How do you turn 365 days experienced by eight billion people – and billions more other beings – into some kind of story?

Maybe you start with some events?

In which case, 2022 was the year that Covid vaccines kicked in. Daily global deaths hit 77,000 on 7 February, and have declined fairly steadily ever since. It was the year Russia invaded Ukraine, the first war between major European powers since 1945. Continue reading

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Outlook ‘Grim’ Halfway Through Global Biodiversity Summit, Climate Groups Warn

“If Global North countries don’t compromise, the consequences will be dire,” said Greenpeace. “One million species are at risk of extinction, threatening the web of life that holds our planet together.”

By Julia Conley.  Published 12-15-2022 by Common Dreams

Primary Forest Alliance at COP15 on December 7, 2022. Photo: UN Biodiversity/flickr/CC

Disagreements over financing biodiversity protection, the piracy of natural resources, and commitments to protect at least 30% of the Earth’s land and water by 2030 are some of the top sticking points at the United Nations’ global biodiversity summit in Montreal, which is set to wrap up in just four days.

Following a walkout early Wednesday by developing nations outraged over the Global North’s opposition to creating a biodiversity fund, one anonymous negotiator at the 15th Conference of the Parties (COP15) of the Convention on Biological Diversity (CBD) wrote in The Guardian that the summit is at risk of amounting to more of what climate campaigner Greta Thunberg has called “blah blah blah.” Continue reading

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War Industry ‘Celebrating Christmas Early’ as House Passes $858 Billion NDAA

“There is no justification to throw… $858 billion at the Pentagon when we’re told we can’t afford child tax credit expansion, universal paid leave, or other basic human necessities,” said the consumer advocacy group Public Citizen. “End of story.”

By Brett Wilkins.  Published 12-8-2022 by Common Dreams

Class of 2022 cadets participate in a live-fire exercise as part of their Cadet Field Training. Photo: Matthew Moeller (US Army)/flickr/CC

Peace advocates on Thursday slammed the House of Representatives’ passage of a mammoth $858 billion military spending bill as an early holiday gift for the Pentagon and the weapons corporations who benefit from the United States’ ongoing—but largely forgotten—War on Terror.

House lawmakers voted 350-80 in favor of the 2023 National Defense Authorization Act (NDAA), with 45 Democrats and 35 Republicans voting “no.”

The new NDAA authorizes an $80 billion military spending increase over the 2022 bill, and $118 billion more than when President Joe Biden took office in 2021. The 2023 allocation is more than the combined military budgets of China, India, the United Kingdom, Russia, France, Germany, Saudi Arabia, Japan, and South Korea, according to the National Priorities Project at the Institute for Policy Studies (IPS). It’s also more than the annual gross domestic product of countries including Saudi Arabia, Sweden, Switzerland, and Turkey, based on United Nations figures. Continue reading

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‘Heartbreaking’ and ‘Pathetic’: US Obstructs Patent Waiver for Covid Tests and Treatments

“There have been at least 290,000 deaths from Covid-19 since the WTO punted on the question of global access to tests and treatments back in June,” said one advocate. “How many more need to die before the U.S. joins the right side of history?”

By Kenny Stancil.  Published 12-6-2022 by Common Dreams

Global health campaigners denounced U.S. President Joe Biden’s administration for refusing to support a temporary suspension of patents for Covid-19 tests and treatments this year, a move that further delays the possibility of securing a World Trade Organization intellectual property waiver aimed at increasing access to lifesaving medical tools in developing nations.

In a statement released on Tuesday morning, U.S. Trade Representative Katherine Tai said that “over the past five months, USTR officials held robust and constructive consultations with Congress, government experts, a wide range of stakeholders, multilateral institutions, and WTO members.” Continue reading

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Elon Musk’s Twitter is more dangerous than you think

Beyond Musk’s oft-repeated rants about free speech, may lie shadier plans to recoup the $44bn he paid for the site

By Adam Ramsay  Published 11-11-2022 by openDemocracy

The world is burning and Ukraine is trudging into a winter of war. Prices are spiralling and the NHS is limping. The US and Brazil have held the line against fascism, just, while Italy has fallen to the far right. Watching the disastrous takeover of Twitter by the world’s richest bam can feel a little frivolous. So what if it becomes a rich boy’s toy? It often felt like that anyway.

But the thing is, we can’t solve the world’s problems without talking, and social media has become the way we do that. At its best, a space beyond the increasingly oligarch-owned press where citizens of the world can chatter, gossip, joke and revolt; can organise into new collectives and explore new identities and senses of self. At its worst, well, I don’t need to tell you. Continue reading

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