Europe’s effort to wean its economy off Russian gas is likely to be a persistent boost to inflation even beyond the current spike, European Central Bank board member Isabel Schnabel says.
Cutting planet-warming emissions to "net zero" by 2050 could lift growth and employment but would require an inflation-boosting $160 per tonne carbon price by the end of the decade, an umbrella group of the world's top central banks say.
As the coronavirus pandemic compounds worsening economic pressures from climate change impacts, small island developing nations on Monday appealed for international financial support to help them avert a looming debt crisis.
The U.S. presidential election pits a politician who plans to tie the country's economic recovery to tackling climate change against another determined to remove as many regulatory hurdles to oil, gas and coal production as possible.
Britain is expected to double spending on flood defenses to 5.2 billion pounds ($6.78 billion) when finance minister Rishi Sunak delivers his budget, the Treasury said on Saturday, following extensive flooding across the country this winter.
