Latest news with #globalinequality
Al Jazeera
30-06-2025
- Business
- Al Jazeera
Once-in-a-decade UN conference on development aid kicks off in Spain
The United Nations Conference on Financing Development has opened in the southern Spanish city of Seville, as member states are expected to discuss global inequality amid a significant financial loss following the United States Agency for International Development (USAID) funding cut. The once-in-a-decade event will be held from Monday to Thursday, aiming to address pressing global concerns, including hunger, poverty, climate change, healthcare, and peace. At least 50 world leaders gathered in Seville, including UN Secretary-General Antonio Guterres, European Commission President Ursula von der Leyen, French President Emmanuel Macron, and Kenyan President William Ruto. More than 4,000 representatives from businesses, civil society and financial institutions are also participating in the fourth edition of the event. But the group's most significant player, the US, is snubbing the talks following President Donald Trump's decision to slash funding shortly after taking office in January. In March, US State Secretary Marco Rubio said the Trump administration had cancelled more than 80 percent of all the USAID programmes. Moreover, Germany, the United Kingdom, and France are also making cuts to offset the increased spending on defence, being imposed by Trump on NATO members. But the series of cuts to developmental aid is concerning, with global advocacy group Oxfam International saying the cuts to development aid were the largest since 1960. The UN also puts the growing gap in annual development finance at $4 trillion. 'Seville Commitment' The conference organisers have said the key focus of the talks is restructuring finance for the 17 UN Sustainable Development Goals (SDGs) adopted at the last meeting in 2015 and expected to be met by 2030. But with shrinking development aid, the goals of reaching the SDGs in five years, which include eliminating poverty and hunger, seem unlikely. Earlier in June, talks in New York produced a common declaration, which will be signed in Seville, committing to the UN's development goals of promoting gender equality and reforming international financial institutions. Zambia's permanent representative to the UN, Chola Milambo, said the document shows that the world can tackle the financial challenges in the way of achieving the development goals, 'and that multilateralism can still work'. However, Oxfam has condemned the document for lacking ambition and said 'the interests of a very wealthy are put over those of everyone else'.
Fast Company
20-06-2025
- Business
- Fast Company
3 ways brands can win back consumer confidence
'It was the best of times, it was the worst of times, it was the age of wisdom, it was the age of foolishness, it was the epoch of belief, it was the epoch of incredulity, it was the season of light, it was the season of darkness, it was the spring of hope, it was the winter of despair.' Those words written by Charles Dickens are surprisingly on point, despite the author being dead for well over a century. We continue to live in febrile and perplexing times with many of us expecting to see all four horses of the apocalypse over the horizon at any time. Confidence, so central to people's willingness to spend, is at best fragile. Our two biggest global economies—the United States and China—are on the back foot and we're all feeling the impact. As consumers, we're increasingly resentful, angry, and ready to withhold our hard-earned cash. Not only has people's trust in many institutions diminished in recent years, according to a recent study conducted in 28 countries, a staggering 61% of those surveyed hold grievances against government, business, and the wealthy due to perceived inequalities and unfairness. The list of causes for people's concerns is growing fast—from geopolitics to the cost-of-living crisis, misinformation and disinformation, bad actors, and the dizzying speed of technological change, including the rapid rise of AI, to name just a few. Also growing is the need for a marketplace response, specifically from the brands and organizations that are the primary drivers of action, and in which consumers still invest a degree of trust. What brands need to do Brands should listen, empathize, and demonstrate, not just with words, but with tangible actions that they understand their customers and can support them in achieving what they want. However, in today's challenging climate this might not be enough. When consumers are feeling so aggrieved, I see three actions that can help brands move consumer sentiment in a more positive direction. Make the first move, however small In challenging times, an entrenched position can seem appealing. Yet an 'I'm right, you're wrong, you don't understand' defensive mindset often brings inertia. When the company makes the first move and bends a little, it can be easier to move things forward. For example, in 2018, KFC's UK operation almost collapsed when it ran out of chicken. The company's FCK campaign made international news; to make amends, KFC ran an apology ad rearranging the letters of its name to spell out 'FCK' on a chicken bucket. This response, which harnessed humility, humor, and honesty, was well-received and showed how timely communication and gestures can make all the difference. Contextual adaptability is more valuable than ever, especially as younger audiences gravitate toward brands rooted in community and co-creation. Transparency matters, but what truly sets brands apart today is how they respond and adapt once the reactions start kicking in. That is where real connection and loyalty are built. Duolingo recently faced backlash over its new 'AI-first policy,' which clashed with the human touch users expect from the category, and especially from such a personality-driven brand. While transparency was a good start, their response —deleting posts and posting a tone-deaf attempt at humor—came off as insincere and dismissive. What was missing was genuine openness and willingness to adapt. By listening to feedback and engaging with users' concerns, Duolingo could have turned criticism into a chance to build trust and further strengthen their cult-like following. Demonstrate you understand what matters A key pillar of conflict resolution is demonstrating that you understand what matters. It's also a central component of brand building—–and one that's even more important at a time when customers are rife with anger and resentment. Showing empathy in difficult times does more than offer immediate reassurance, it creates a powerful ripple effect. Seen optimistically, it is a rare opportunity for brands to earn lasting customer loyalty and brand resonance. Today, technology enables an unprecedented array of ways to leverage greater customer personalization to demonstrate a brand's appetite to serve and move things forward in audience-relevant ways. IKEA, for example, leverages data and consumer research to support their customers through the cost-of-living crisis. They actively work to make products more affordable to match local and individual tastes. They also track visits and clicks on their online store to ensure they manage the price reductions while keeping an eye on their own long-term financial sustainability. In addition, their knack for quickly bringing trends like dopamine décor, kidulting, and bed-rotting to life in their stores helps them connect with their audiences, providing them with some much-needed joy and comfort, while times feel bleak. Create a sense of togetherness It takes time to ease frayed nerves, misconceptions, and mistrust. Great storytelling and tone are tangible markers of a company's commitment to its customers. Volvo's recent EX90 For Life ad, which imagines how an unborn child's future could be erased without the brand's groundbreaking safety technology, is a human story universally relatable, yet directly brand-relevant. It powerfully demonstrates how finding and cultivating points of connection with your customer are the secret to building, maintaining, and energizing any productive relationship with consumers. Engaging, uniting, and connecting is central to us as humans and necessary to build and re-build trust. The same applies to brands and the businesses behind them. Geopolitics and economic volatility are beyond any single business's control. Yet, in the current climate, brands that bear down on each interaction and experience at every touchpoint will move consumer sentiment onto more positive ground.
Mail & Guardian
30-05-2025
- Business
- Mail & Guardian
Africa's green industrial future hinges on global trade and investment reform
The continent has what is needed to lead the green industrial revolution but it can't do it without building its trade and investment partnerships. (File photo) South Africa's G20 presidency identified green industrialisation as one of its priorities for the Working Group on Trade and Investment. Africa faces a pivotal moment as climate-related trade measures tighten and the global economy reconfigures around decarbonisation. This framework supports the integration of developing countries in global green value chains. The continent has the resources, the demographic dividend and the ambition to lead in the emerging green economy, but without an enabling global trade and investment environment, we risk this opportunity slipping away. The G20, as the world's most influential economic forum, must recognise that green industrialisation is not just an environmental imperative but a development strategy. The Africa Future Policies Hub's recent Green competitiveness for inclusive growth The global push toward decarbonisation is reshaping trade flows, production systems and industrial policy. From carbon border taxes, like the EU's Carbon Border Adjustment Mechanism, to green subsidies and technology standards, countries are adjusting the rules of engagement in the name of climate action. But, if these changes are not matched with complementary support for developing economies, they could further entrench global inequality. Africa's contribution to historical emissions is minor but many industries, some of which are carbon-intensive and still in their infancy, face new barriers to export. Instead of punitive trade measures that disregard the continent's development realities, the G20 should champion an agenda of cooperative green competitiveness — one that recognises differentiated responsibilities, fosters innovation and builds productive capabilities across regions. Renewable energy and mineral value chains must be effectively leveraged to serve as a foundation for new industrial models. To realise these benefits, market shifts, coordinated policy efforts and global partnerships are needed. Inclusive green initiatives must be strategically targeted and embedded within strategic value chains that have the potential to expand industrial capacity. Existing regional initiatives can be harnessed to design pilot projects that are scalable. The scale and nature of financing mechanisms and investments play a crucial role in targeting and shaping green pathways. To be successful, there must be access to sufficient, highly concessional and patient capital, which is essential for a sustainable green industrialisation agenda. A path forward: Local strength, global partnership Green industrialisation in Africa must begin with sectors where the continent has clear comparative advantages and potential for value addition: renewable energy, transition minerals, green fertilisers and low-carbon construction materials like cement, for example. But building competitiveness in these areas is not simply a matter of targeting sectors; it requires deliberate investment in industrial ecosystems. This includes infrastructure; access to affordable and clean energy; skills development and strong institutions. It means creating industrial clusters where firms, technology providers and research institutions co-evolve around shared innovation. Public-private partnerships, as well as 'climate-smart' PPPs, hold the potential to bridge technical and financial gaps in critical infrastructure and new industrial sectors. At the same time, Africa cannot industrialise in isolation. The scale of transformation required depends on deep and equitable global partnerships with capital, technology and know-how flowing in ways that preserve sovereignty and generate mutual benefit. African countries must work together. Local development strategies must be aligned with regional trade frameworks like the African Continental Free Trade Area to scale up demand and anchor value chains within the continent. Cross-border cooperation holds significant potential to open up opportunities for advancing green industrialisation Financing the future One of the biggest barriers to Africa's green industrial transformation is finance. Green investments, whether in grid infrastructure, hydrogen production or decarbonised manufacturing, are costly, risky and long-term. In a context of rising debt burdens and constrained fiscal space, few African governments can shoulder this alone. The G20 must prioritise reforms to the global financial architecture that unlock concessional, patient capital for green industrial development. This includes expanding the mandates and capital base of multilateral development banks, enhancing their ability to take on early-stage risk and developing blended finance instruments that can crowd in private capital. Crucially, financial support must be channelled through platforms that align with country-led strategies. Models like the Türkiye Industrial Decarbonisation Investment Platform, driven by the EBRD and the World Bank, offer promising templates. Regional banks like Afreximbank also have a critical role to play in facilitating green trade finance and scaling African-driven solutions. From technology transfer to knowledge partnerships Technology needs to be approached differently. Traditional models of 'technology transfer' often imply a one-directional, donor-recipient relationship. But building green competitiveness demands a more collaborative approach. It is one where technology is co-developed, adapted to local contexts and accompanied by institutional and human capacity building. Initiatives like the Industrial Transition Partnership between India and Sweden, facilitated by the Leadership Group for Industry Transition (LeadIT), show how structured, multi-stakeholder collaborations can produce strategic decarbonisation projects that reflect shared interests. African countries should be supported to participate in — and lead — similar arrangements. Major economies that impose carbon pricing or border adjustment measures should channel a portion of revenues into co-innovation and green technology diffusion funds. These funds should be earmarked for developing countries. This would not only help mitigate trade imbalances but also build trust in global climate cooperation. The G20's responsibility For the G20, the challenge is clear — align global trade and investment rules with a just, inclusive green transition. That means putting developing countries, not just as aid recipients, but as equal partners in global production, at the heart of climate-compatible growth strategies. It means recognising that industrial development is not incompatible with climate goals; if done right, it's the very pathway to achieving them. Green industrialisation can deliver cleaner economies and more resilient, diversified and dignified livelihoods across the Global South. Africa stands ready. But readiness without partnership is not enough. The G20 must rise to the moment by enabling the policies, incentives and institutions that allow all regions to thrive in the green economy, not just a few. The cost of inaction is not just lost opportunity, it's deepening global fragmentation at a time when cooperation has never been more critical. Maria Nkhonjera is a senior policy officer: public finance at African Future Policies Hub and Shimukunku Manchishi a senior policy officer: trade also at the hub.
Asharq Al-Awsat
20-05-2025
- Politics
- Asharq Al-Awsat
Greece's Top Diplomat Calls War in Gaza a ‘Nightmare'
The world is facing the most turbulent times since World War II, Greece's top diplomat says, pointing to a crossroads in democracy and saying Europe is facing a 'political identity crisis.' In a wide-ranging interview with The Associated Press, Foreign Minister Giorgos Gerapetritis weighed in on two of the globe's major conflicts, saying the 'nightmare' and escalating death toll in Gaza must end and Greece stands by Ukraine. He also noted that US President Donald Trump's tariffs are not 'good news.' A crisis in democracy tied to inequality Gerapetritis, whose country holds the rotating presidency of the UN Security Council this month, said inequalities between nations and people are challenging 'the essence of democracy and the rule of law.' As a result, 'we have turned into an era where populism and demagogues are essentially ruling the state,' he said. He said global turmoil is also the result of technology and the world's mobility, which mean every challenge — from pandemics to climate and migration — touches everyone. The upheaval also follows a crisis in overall global cooperation and belief in international organizations, which have failed to address challenges in recent years. Nonetheless, Gerapetritis said, Greece believes 'democracy has a self-corrective mechanism' and what's needed at this challenging time is strong leadership in major nations and international organizations 'to make people believe in the noble cause of being together in peace and prosperity.' The Greek foreign minister said the European Union's requirement that decisions be adopted unanimously by its 27 members — giving a single nation veto power — has become an obstacle. On the other hand, he said, the veto reflects national interests that should be at the core of European politics. At the moment, Gerapetritis said Europe is in a 'political identity crisis.' 'It seems that on occasions, we forget what are the essential elements that brought us together as Europeans, and we do suffer from some divergences and conflict,' he said. 'And now we're suffering the post-shock syndrome after the war in Ukraine. So I think Europe needs again to find its resilience and identity.' Greece stands by Ukraine because it supports the rule of law and its sovereignty and territorial integrity, he said. As for EU and US sanctions against Russia over its invasion of Ukraine in February 2022, Gerapetritis said they have been only partially successful because Moscow has found ways to circumvent their impact. The economic penalties have not become 'a turning point for peace,' he said. Greece has good relations with both Israel and the Palestinians Gerapetritis said his country supports a two-state solution, has discussed it and Gaza's reconstruction extensively with Israel and the Palestinians, and sees itself as an 'honest broker.' 'We would like to be actively involved, but to be totally honest, it's not a matter of who mediates, it's a matter of stopping the nightmare,' he said. Hamas' killing of 1,200 people and taking of hostages from Israel on Oct. 7, 2023, was absolutely inhumane, he said. Also, 'I cannot really tolerate what is happening now in the Middle East,' he said, pointing to the more than 53,000 Palestinians killed in Gaza, mostly women and children, according to its health ministry, which doesn't differentiate between civilians and combatants in its count. Gerapetritis, who will preside at a Security Council meeting Thursday on protecting civilians in conflict, called for massive humanitarian aid for Gaza and a speedy ceasefire. The first few aid trucks entered Gaza this week following nearly three months of an Israeli blockade of food, medicine and other supplies. Israel says a new distribution system will launch to prevent Hamas from accessing aid, which Israel says the group uses to bolster its rule in Gaza. US tariffs Gerapetritis said US-Greek ties are growing, citing investments by Amazon, Google, Pfizer and other companies, including in the energy field. Tariffs imposed by the Trump administration haven't had a major influence in the country, he said, 'because we are not overexposed to that type of bilateral trade.' But Greece is in favor of free trade, he said, and while 'we do not consider that tariffs are good news ... we do believe that there must be a modus vivendi,' a Latin phrase that in international relations often means a compromise between parties. Trump imposed a 20% levy on goods from the EU amid a series of such moves against trading partners, but later paused them to give a chance to negotiate solutions to US trade concerns. Countries subject to the pause will face Trump's 10% baseline tariff.
Arab News
16-05-2025
- Politics
- Arab News
Meeting diplomats, pope highlights inequality, injustice
VATICAN CITY: Pope Leo XIV recalled his immigrant roots as he spoke out Friday against global inequality and injustice, including "unworthy" working conditions, in a speech to diplomats accredited to the 69-year-old, who became the first US head of the Catholic Church on May 8, also highlighted climate change, migration and artificial intelligence as some of the world's key challenges."In this time of epochal change, the Holy See cannot fail to make its voice heard in the face of the many imbalances and injustices that lead, not least, to unworthy working conditions and increasingly fragmented and conflict-ridden societies," the pontiff said."Every effort should be made to overcome the global inequalities -- between opulence and destitution -- that are carving deep divides between continents, countries and even within individual societies."The son of a father of French and Italian descent and a mother with Spanish origins, the Chicago-born pontiff recalled how "my own story is that of a citizen, the descendant of immigrants, who in turn chose to emigrate"."All of us, in the course of our lives, can find ourselves healthy or sick, employed or unemployed, living in our native land or in a foreign country, yet our dignity always remains unchanged: it is the dignity of a creature willed and loved by God."The pope, who spent around two decades as a missionary in Peru, added that "my own life experience, which has spanned North America, South America and Europe, has been marked by this aspiration to transcend borders in order to encounter different peoples and cultures".He highlighted as "challenges of our time" issues including "migration, the ethical use of artificial intelligence and the protection of our beloved planet Earth".Leo has made several calls for peace in his first week as pontiff, echoing his late predecessor, Pope this context, he said there was "a need to give new life to multilateral diplomacy and to those international institutions conceived and designed primarily to remedy eventual disputes within the international community".Citing traditional Catholic values, he emphasised the importance of "investing in the family, founded upon the stable union between a man and a woman".He also encouraged "respect for the dignity of every person, especially the most frail and vulnerable, from the unborn to the elderly, from the sick to the unemployed, citizens and immigrants alike".Although the audience was private, the audio of Leo's speech was relayed to journalists in the Vatican press office, with an official transcript provided.
