Tag Archives: Oman

‘Catastrophic Failure to Tackle Inequality’ Left World Unprepared for Pandemic: Global Index

“Millions of people have been pushed into poverty and hunger and there have been countless unnecessary deaths.”

By Jessica Corbett, staff writer for Common Dreams. Published 10-8-2020

Photo: Sarah Wy/flickr/CC

With the world’s death toll from Covid-19 above one million and confirmed cases surpassing 36 million, a pair of advocacy groups on Thursday released an analysis illustrating how governments’ failures to implement policies that reduce inequality left countries “woefully unprepared” for the coronavirus pandemic.

The Commitment to Reducing Inequality Index, updated annually by Oxfam International and Development Finance International (DFI), ranks 158 governments based on three core pillars: spending on public services (meaning health, education, and social protection), progressive taxation policies, and workers’ rights. Continue reading

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Citing $69 Trillion Price Tag by 2100, Moody’s Warns Central Banks of Far-Reaching Economic Damage of Climate Crisis

“There is no denying it: The longer we wait to take bold action to curb emissions, the higher the costs will be for all of us.”

By Jessica Corbett, staff writer for Common Dreams. Published 7-3-2019

Arid soils are shown in Mauritania in 2012, when crops failed because of a severe drought which led to a food crisis that impacted millions of people across West Africa. (Photo: Oxfam International/Flickr/cc)

Noting previous warnings that the human-caused climate crisis could cause trillions of dollars in damage to the global economy by the end of the century, a new report from Moody’s Analytics explores the economic implications of the international community’s failure to curb planet-warming emissions.

Moody’s Analytics chief economist Mark Zandi told The Washington Post—which first reported on the new analysis—that this is “the first stab at trying to quantify what the macroeconomic consequences might be” of the global climate crisis, and it comes in response to European commercial banks and central banks. The climate emergency is “not a cliff event. It’s not a shock to the economy. It’s more like a corrosive,” Zandi added. But it is “getting weightier with each passing year.” Continue reading

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