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Taking stock of nation's climate finance
Taking stock of nation's climate finance

Bangkok Post

time6 days ago

  • Business
  • Bangkok Post

Taking stock of nation's climate finance

If the ravages of extreme weather worldwide were not enough to convince anyone of the need to urgently address and adapt to climate change, consider a sobering fact delivered by the World Meteorological Organization (WMO). In its "State of the Global Climate 2024" report, it said last year was "likely the first calendar year to be more than 1.5C above the pre-industrial era, with a global mean near-surface temperature of 1.55 ± 0.13C above the 1850-1900 average". This makes 2024 the warmest year in the 175 years that have been observed, according to this seminal report which was released in March. The record-breaking year "underlined the massive economic and social upheavals from extreme weather and the long-term impacts of record ocean heat and sea-level rise". Leading concerns Thailand serves as a microcosm of this urgent need. The country has already ranked 30th in this year's list of countries that are most vulnerable to climate change, according to human rights organisation Germanwatch. The United Nations Economic and Social Commission for Asia and the Pacific (Unescap) estimates that Thailand's average annual damage from climate change will amount to almost 1 trillion baht, or 6.6% of the country's GDP per year, under the 2-degree scenario. The cumulative damage of climate change on Thailand's agriculture sector alone is estimated to be between 17.5–83.8 billion baht per year between 2021-2045. Naturally, Thailand needs significant investments in climate mitigation to keep up its commitment on the global stage. In 2024, the Department of Climate Change and Environment estimated that a 30% reduction in carbon emissions by 2030 would require a 5 trillion baht investment in climate finance, while a 40% reduction would require an investment of 7 trillion baht. Tracking finance flows One major drawback for Thailand is the lack of any sense of urgency as well as the financial resources for both climate mitigation (to lower greenhouse gas emissions) and climate adaptation to reduce the negative impacts of climate change. Thailand still lacks a clear picture of the current climate finance flows in the country. As Climate Finance Network Thailand (CFNT) was founded in 2024 with the aim of catalysing more meaningful climate finance in Thailand, we took it upon ourselves to compile as much data from publicly available sources to construct a public "Climate Finance Tracker" (henceforth referred to as the "Tracker") for Thailand -- akin to the Global Landscape of Climate Finance report produced annually by the Climate Policy Initiative (CPI), the US-based organisation that focuses on climate finance and policy. We focus on two main activities: climate mitigation and climate adaptation. We found sources of climate finance come from various areas such as government bodies, multilateral development banks, national and multilateral climate funds, state-owned enterprises, specialised financial institutions, domestic public funds, and international financial institutions. These funds are typically directed through official development assistance (ODA), concessional loans, grants, or public investment programmes. On the other hand, private climate finance also comes from the private sector, for example, commercial financial institutions, corporations, impact investors (including philanthropy), institutional investors, and other non-state actors. It includes investments aligned with clear climate-related objectives through mechanisms such as green bonds, green loans, and blended finance. One key principle used by the CPI that we adopted for our Tracker is the focus on direct investment aligned with climate mitigation and adaptation efforts within the country. In line with the CPI's methodology, the Tracker also excludes any financial flows that do not represent new investments targeting climate-related outcomes. Investments we excluded from our calculation are secondary markets, refinancing, the transfer of ownership of existing assets, and public subsidies that are primarily designed to reimburse initial investment costs, such as those supporting private research and the development of new technologies. Like the CPI, we exclude "carbon emissions lock-in" projects. This refers to cases where investment clings to fossil-fuel based infrastructure despite the low-emission alternatives available that could be deployed. One example of a carbon lock-in project would be an upgrade to improve the efficiency of coal-fired power plants. Financing challenges Climate adaptation is a much more complicated affair to track. Each activity has its own context and characteristics, and a lot of time, effort and resources are needed to monitor adaptation activities to judge whether they are "successful" or not. CFNT attempts to address this challenge by using the Tailwind Taxonomy, a publicly available model to audit the performance of climate adaptation and resilience projects. The model was developed by Tailwind Futures, a strategic venture fund. We chose climate adaptation projects that address the specific vulnerabilities to climate change and climate-related risk, and make assessments from the evidence-based outcomes of these activities. What have we found? From tallying over 2,800 project-level and organisation-level data carried out from year 2018 to May of this year, we conclude that at least 1.7 trillion baht has been invested in climate mitigation projects. Some 82% of this sum derives from corporations, commercial banks, and state-owned enterprises. In terms of contributions by sector, 64% of total investment comes from energy and transport. Zooming into sub-sectors, the most popular climate mitigation activities are rooftop solar installations (17% of the total), electric vehicles (10%), and mass transit and mass railway projects (8%). We also look into climate adaptation activities and projects. Based on data from 670 projects, we estimate that during 2020-2024, Thailand spent 148 billion baht on climate adaptation projects. Some 95% of the money came from Thailand's central government, followed by multilateral climate funds (1.8%). Zooming into sectors, sustainable water management, urban resilience, and sustainable agriculture are key focal areas for climate adaptation. Those who are interested in perusing our Tracker -- reading our detailed methodology and downloading slides featuring our key highlights -- can do so by visiting our website at By making the Tracker publicly accessible and updating the database annually, we hope to assist policymakers in identifying the gap between existing climate finance flows and demands. We seek to jumpstart conversations on climate finance, as well as enabling better allocation of funds into the most urgently needed sectors and sub-sectors in Thailand, especially to those that are the most vulnerable to the worsening impacts of climate change.

Fondation Lombard Odier launches funding programme for international environmental projects
Fondation Lombard Odier launches funding programme for international environmental projects

Zawya

time15-07-2025

  • Business
  • Zawya

Fondation Lombard Odier launches funding programme for international environmental projects

Dubai, United Arab Emirates: Fondation Lombard Odier is celebrating its 20th anniversary and underlining its long-term commitment to strategic philanthropy with a new environmental programme. Building on two decades of experience in targeted project funding, from 2025 the Foundation will support international initiatives that combine climate protection with tangible social benefits. The focus will be on new partnerships with organisations such as the World Meteorological Organization (WMO), the Zoological Society of London (ZSL) and the Giving to Amplify Earth Action Awards (GAEA), with the aim of measurably advancing innovation, the use of climate data, protecting biodiversity and strengthening protected areas worldwide. The Fondation Lombard Odier was established in 2004 to unite the philanthropic activities of the founding families and the Group under one roof. Since then, the Foundation has embodied the Group's humanist values and carried forward the families' long-standing philanthropic endeavours with an innovative vision of philanthropy – a tradition that dates back to the mid-19th century. To date, it has supported almost 350 projects and institutions in Switzerland and globally. Among the first supported initiatives: A WMO project improving humanitarian planning in refugee camps through precise climate data. ZSL research using chemical and satellite data to trace the origin of tropical wood and rubber, helping enforce environmental standards. Support for GAEA to spotlight system-changing climate collaborations, including fossil-free steel and low-carbon agriculture. Hubert Keller, Chairman of Fondation Lombard Odier and Senior Managing Partner, Lombard Odier Group, says: 'As we celebrate the Foundation's 20th anniversary, we reflect with pride on past achievements and look ahead to new challenges, bold projects and powerful alliances that will enable us to continue driving sustainable transformation.' Dr Maximilian Martin, Global Head of Philanthropy, Lombard Odier Group and Secretary-General of Fondation Lombard Odier, adds: 'Our anniversary provided an opportunity to reflect on what truly works in philanthropic practice. We focus our support where early-stage commitment, expert partners and innovative thinking converge. The new environmental programme exemplifies this approach and marks the beginning of a long-term commitment to systemic solutions in the environmental space.' About Lombard Odier Lombard Odier is a global wealth and asset manager. For over 225 years and through more than 40 financial crises, the Group has aligned itself with the long-term interests of private and institutional clients. It has a strong balance sheet with a CET1 ratio of 32% and a Fitch rating of AA-, the highest possible rating for a bank of its size. Structured as an independent partnership, Lombard Odier is solely owned by its Managing Partners. This governance model allows the Group to remain completely client-focused and innovative at the highest level in the organisation. Lombard Odier is an investment house that provides a comprehensive offering of discretionary and advisory portfolio management, wealth services and custody. Asset management services are offered through Lombard Odier Investment Managers (LOIM). The Group has created cutting-edge banking technology, which is also leveraged by other Swiss and European-based private banks and financial institutions. The Group had total client assets of CHF 327 at 31 December 2024. Headquartered in Geneva since 1796, at end-December the Group had 28 offices in 19 jurisdictions and employed 2,900 people. For more information: Lombard Odier Group Rue de la Corraterie 11 1204 Geneva – Switzerland Andreas Kessler Media relations Ellen Birch Media relations Important Information This media release has been prepared by Bank Lombard Odier & Co Ltd, a bank and securities firm authorised and regulated by the Swiss Financial Market Supervisory Authority (FINMA) (hereinafter "Lombard Odier"). It is not intended for distribution, publication, or use in any jurisdiction where such distribution, publication, or use would be unlawful, nor is it aimed at any person or entity to whom it would be unlawful to address such a document. This media release is provided for information purposes only. It does not constitute an offer or a recommendation to enter into a relationship with Lombard Odier, nor to subscribe to, purchase, sell or hold any security or financial instrument. This document may not be reproduced (in whole or in part), transmitted, modified, or used for any public or commercial purpose without the prior written permission of Lombard Odier. © 2025 Bank Lombard Odier & Co Ltd – All rights reserved

WMO report reveals urgent need for action against rising dust storms in Southern Africa
WMO report reveals urgent need for action against rising dust storms in Southern Africa

Daily Maverick

time13-07-2025

  • Climate
  • Daily Maverick

WMO report reveals urgent need for action against rising dust storms in Southern Africa

A new World Meteorological Organization report warns of the exacting toll that sand and dust storms are having on global health and economies. The report pinpoints South Africa's West Coast as a dust hotspot, with some of the highest concentrations in the southern hemisphere. Have you ever noticed a hazy sky, felt grit in the air, or seen a wall of dust approaching while on the West Coast? These are all signs of airborne dust, a natural phenomenon that is increasingly being influenced by human activities and climate change. The World Meteorological Organization (WMO) recently released its Airborne Dust Bulletin, providing a global overview of airborne dust in 2024. This report, along with other recent findings, offers insights into how dust storms affect our health, economies and environment, with significant implications for countries like South Africa. Key findings from the 2015 WMO Airborne Dust Bulletin, its ninth, are that sand and dust storms now affect about 330 million people in 150 countries; there is increasing economic disruption and health impacts from this; and poor land and water management, as well as drought, play a major role in this. Global sand and dust storm hotspots in 2024 Dust is a natural part of our planet's system, but the WMO has emphasised in its latest bulletin that human factors are playing an increasingly significant role in its prevalence. Poor land and water management, ongoing droughts and general environmental degradation are making the problem worse. As WMO secretary-general Celeste Saulo puts it: 'Sand and dust storms do not just mean dirty windows and hazy skies. They harm the health and quality of life of millions of people and cost many millions of dollars through disruption to air and ground transport, agriculture and solar energy production.' The report highlights several hotspots where dust concentrations were particularly high in 2024. In the southern hemisphere, the West Coast of South Africa and central Australia saw their highest dust concentrations, ranging from 150 to 300 micrograms per cubic metre. This directly brings the global issue of airborne dust home to South Africa. This is because vast and remote deserts in Namibia and the Northern Cape are a major natural source of dust, and strong winds pick up this dust and blow it over the West Coast. This leads to extremely high concentrations of dust in the air for areas in the Western and Northern Cape, which, the WMO has confirmed, have levels among the highest recorded. As Leonie Joubert previously reported in Daily Maverick, the Northern Cape may be headed for an irreversible dust bowl following yearslong drought and decades of intensive mining and grazing. Dust storms are rare in South Africa, but they do occur over certain parts of the country. Then, in the northern hemisphere, the bulletin noted that the central African nation of Chad, home to the Bodélé Depression (a major dust source), experienced peak annual mean surface dust concentrations of about 800 to 1,100 micrograms per cubic metre of air. Major dust storm events in 2024 were observed across various regions in the bulletin: Canary Islands (December 2024): A strong 'Harmattan' wind surge from northwestern Africa carried dust from the Western Sahara Desert to Spain's Canary Islands, significantly impacting areas where most people live; East Asia (June 2024): Northern China, including Beijing, experienced rare summer dust storms. This was linked to poor vegetation growth in Mongolia due to high temperatures and drought, showing how extreme weather in a changing climate can drive such events; and West Asia (December 2024): Iraq, Kuwait, Qatar and the Arabian Peninsula were hit by an exceptional winter dust storm, causing widespread disruptions, including flight cancellations, school closures and postponed public events. The increase in dust in some regions is linked to a mix of natural and human-caused factors. These include more intense droughts, stronger winds and changes in how land is used. Things such as overgrazing, cutting down too many trees, poor land management, rapid growth of cities, new buildings and the drying up of important natural areas like marshes all make the soil less stable and more likely to turn into dust. The health implications of sand and dust storms are a major focus of the WMO report. A new indicator, developed jointly by the WMO and the World Health Organization (WHO), revealed a worrying trend: between 2018 and 2022, about 3.8 billion people – nearly half of the world's population – were exposed to dust levels exceeding the WHO's safety threshold. Local challenges and national efforts The WMO report's mention of the West Coast of South Africa as a region with high dust concentrations in the southern hemisphere shows that dust and sand storms are a local reality. South Africa is no stranger to dust storms; they are rare, but they do occur, and they can wreak havoc on agricultural land, damage property, worsen air quality, disrupt road and air travel and cause significant health problems, even leading to loss of life. A large dust storm swept across parts of the country in October 2014, which mainly affected Free State areas and De Aar in the Northern Cape, and another major dust storm affected parts of the country in January 2016. In 2019, people 'watched skies turn red' in Alexander Bay in the Northern Cape on 25 September as fierce winds carried huge plumes of sand and dust westward towards the Atlantic Ocean. This was visible from satellite imagery, according to the Nasa Earth Observatory, while photographs from people in Alexander Bay showed dark, hazy skies and streets that were barely visible. In fact, in a letter dated 10 October 2017, Transnet Port Terminals (TPT) addressed property owners in Vredenburg, Saldanha and Langebaan regarding a project to clean and paint properties affected by iron ore dust. The project's progress has been slow, partly due to Level 3 water restrictions preventing the use of drinking water for high-pressure cleaning. This points to damage to property from iron or dust, and how drought affected addressing the situation locally. Now, the report found that these storms are linked to both natural factors like precipitation and wind, and human factors. But there's also growing concern that the changing climate could be increasing the frequency, intensity and spread of these major dust events. The impact on public health From a public health perspective, understanding the implications of dust storms and sharing preventative measures is crucial. The South African Medical Research Council, in partnership with the Department of Health and the Department of Forestry, Fisheries and the Environment, has developed basic health protection steps for the public to take during dust storms. A study titled 'Exploring Meteorological Conditions and Human Health Impacts during Two Dust Storm Events in Northern Cape Province, South Africa: Findings and Lessons Learnt' (Nkosi et al., 2022) delved into the health effects of two specific dust storms in South Africa. This research, conducted at a large public hospital in Kimberley, on the border of the Northern Cape and Free State, examined hospital admissions for respiratory and cardiovascular diseases, eye irritation and motor vehicle accidents during and after dust storm events in October 2014 and January 2016. While initial statistical analyses didn't show significant changes in admissions directly at the time of the dust storms, a more advanced technique called wavelet transform analysis revealed some delayed effects. They identified a cluster of hospital admissions for respiratory and cardiovascular diseases, eye irritation (and motor vehicle accidents) that were recorded between three and 40 days after the two dust storm events. Specifically, they found a small but statistically significant increase in hospital admissions for eye irritation up to 30 days after a dust storm. This aligns with international findings, since eye irritation is one of the most common health outcomes associated with dust storms. The study also suggested that the admissions might be linked to a combination of temperature and aerosol variations at the start of the dust storms. The researchers acknowledged that other factors, such as high background levels of dust from natural sources and human activities like biomass burning, could also contribute to hospital admissions, making it challenging to isolate the exact impact of dust storms alone. The health consequences of dust exposure can range from immediate effects like skin and eye irritation, decreased lung function and increased cardiovascular issues, to more long-term concerns such as adverse pregnancy outcomes. This research also stated that children, newborns, the elderly, pregnant women and individuals with chronic heart and lung conditions were particularly vulnerable. Unfortunately, South Africa currently has limited long-term national data on dust storm patterns and their precise health impacts, so the researchers noted that there was a need for more research to inform evidence-based policies. Towards a dust-resilient future Recognising the increasing threat of dust storms, the United Nations General Assembly officially declared 2025-2034 as the United Nations Decade on Combating Sand and Dust Storms on 10 July 2024. This global initiative aims to coordinate efforts to prevent, halt and lessen the negative impacts of these storms through shared early warning systems, scientific guidance and sustainable land management. South Africa is also taking steps to address this challenge. The Draft National Dust Control Amendment Regulations, 2025, published by the Department of Forestry, Fisheries and the Environment in May, aim to improve dust control measures within the country. These regulations, which repeal and update the 2013 version, focus on: Identifying specific activities that generate dust; Updating the standard methods for collecting and measuring dustfall; and Improving the requirements for developing, implementing and reporting on dust management plans. Under these new regulations, certain individuals or entities, such as those involved in mining, reclamation or activities that generate dust and cause a nuisance, will be required to develop and submit dust management plans for approval. Failure to comply can result in significant penalties, including fines of up to R5-million (about $270,000) or imprisonment for up to five years for a first offence, with even higher penalties for repeat offences. WMO told Daily Maverick that the message from this latest report is to encourage governments to strengthen the capacity of national meteorological services to improve forecasts and early warnings. They noted that the South African Weather Service already has a very good track record in this respect. DM

Shocking UN report reveals 70 lakh people die prematurely every year due to...
Shocking UN report reveals 70 lakh people die prematurely every year due to...

India.com

time13-07-2025

  • General
  • India.com

Shocking UN report reveals 70 lakh people die prematurely every year due to...

(Representational image: New Delhi: According to the World Meteorological Organization (WMO), a specialized agency of the United Nations, sand and dust storms affect about 330 million people in more than 150 countries, and these are having a serious impact on health, economy and environment. What does WMO say? WMO representative Laura Patterson told the United Nations General Assembly that about 2 billion tons of dust is released every year, which is equivalent to 300 Giza pyramids of Egypt. She said that more than 80% of the world's dust comes from the deserts of North Africa and the Middle East. It spreads hundreds and thousands of kilometers, crossing continents and oceans. What is United Nations General Assembly, in resolution 77/249? The United Nations General Assembly, in resolution 77/249, proclaimed 12 July as the International Day of Combating Sand and Dust Storms, and declared the period from 2025 to 2034 the United Nations Decade on Combating Sand and Dust Storms. General Assembly President Philemon Yang said that these storms are increasingly becoming a global challenge due to climate change, land degradation and non-sustainable practices. He said that the particles generated by these storms cause 7 million premature deaths every year. They increase respiratory and heart diseases. They reduce crop production by 25%, which increases the problems of hunger and migration. How much damage is caused by sand and dust? Rola A. A. H. Dashti, the head of the United Nations Economic and Social Commission for Western Asia, said, 'The annual cost of dealing with these storms in the Middle East and North Africa is $ 150 billion, which is about 2.5% of GDP.' She said that storms in the Arab region this spring filled hospitals in Iraq with respiratory patients. Schools and offices in Kuwait and Iran were forced to close. Dashti stressed that it is important to include sand and dust storms on the global and national agenda. She stressed the need for collective will and funding to implement solutions such as land restoration, sustainable agriculture and integrated early warning systems.

Sand, dust storms affect about 330 million people due to climate change: UN
Sand, dust storms affect about 330 million people due to climate change: UN

Yahoo

time13-07-2025

  • Climate
  • Yahoo

Sand, dust storms affect about 330 million people due to climate change: UN

A new report by the United Nations' World Meteorological Organization (WMO) has found that sand and dust storms are leading to 'premature deaths' due to climate change, with more than 330 million people in 150 countries affected. On Saturday, the UN General Assembly (UNGA) marked the International Day of Combating Sand and Dust Storms and its designation of 2025 – 2034 as the UN Decade on Combating Sand and Dust Storms. The storms 'are fast becoming one of the most overlooked yet far-reaching global challenges of our time', said Assembly President Philemon Yang. 'They are driven by climate change, land degradation and unsustainable practices.' The secretary-general of WMO, Celeste Saulo, said on Thursday that sand and dust storms do not just mean 'dirty windows and hazy skies. They harm the health and quality of life of millions of people and cost many millions of dollars through disruption to air and ground transport, on agriculture and on solar energy production.' Airborne particles from these storms contribute to 7 million premature deaths annually, said Yang, adding that they trigger respiratory and cardiovascular disease, and reduce crop yields by up to 25%, causing hunger and migration. 'About 2 billion tonnes of dust are emitted yearly, equivalent to 300 Great Pyramids of Giza' in Egypt, Laura Paterson, the WMO's UN representative, told the UNGA. More than 80% of the world's dust comes from the deserts in North Africa and the Middle East, added Paterson, but it has a global effect because the particles can travel hundreds and even thousands of kilometres across continents and oceans. Undersecretary-General Rola Dashti, head of the UN Economic and Social Commission for Western Asia, told the assembly the storms' economic costs are 'staggering'. In the Middle East and North Africa, it costs $150bn, roughly 2.5% of gross domestic product (GDP), annually to deal with dust and sand storms, she said. 'This spring alone, the Arab region experienced acute disruption,' Dashti said, citing severe storms in Iraq that overwhelmed hospitals with respiratory cases and storms in Kuwait and Iran that forced school and office closures. Dust from the Sahara Desert in Africa has travelled as far as the Caribbean and Florida, she said. For the United States, dust and wind erosion caused $154bn in damage in 2017, a quadrupling of the amount since 1995, according to a study in the scientific journal Nature. The WMO and World Health Organization also warned that the health burden is rising sharply, with 3.8 billion people – nearly half the global population – exposed to dust levels exceeding WHO safety thresholds between 2018 and 2022, up from 2.9 billion people affected between 2003 and 2007.

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