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Planet’s first catastrophic climate tipping point reached, report says, with coral reefs facing ‘widespread dieback’

Unless global heating is reduced to 1.2C ‘as fast as possible’, warm water coral reefs will not remain ‘at any meaningful scale’, a report by 160 scientists from 23 countries warns Sign up for climate and environment editor Adam Morton’s free Clear Air newsletter here The earth has reached its first catastrophic tipping point linked to greenhouse gas emissions, with warm water coral reefs now facing a long-term decline and risking the livelihoods of hundreds of millions of people, according to a new report. The report from scientists and conservationists warns the world is also “on the brink” of reaching other tipping points, including the dieback of the Amazon, the collapse of major ocean currents and the loss of ice sheets. Sign up to get climate and environment editor Adam Morton’s Clear Air column as a free newsletter Continue reading... from The Guardian https://ift.tt/O0bGgzr via IFTTT
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China ‘world’s biggest debt collector’ as poorer nations struggle with its loans

Country, estimated to be owed up to $1.5trn, is increasing penalties for late payments and cutting back on infrastructure projects

China has become the world’s biggest debt collector, as the money it is owed from developing countries has surged to between $1.1tn (£889bn) and $1.5tn, according to a new report. An estimated 80% of China’s overseas lending portfolio in the global south is now supporting countries in financial distress.

Since 2017, China has been the world’s biggest bilateral lender; its main development banks issued nearly $500bn between 2008 and 2021. While some of this predates the belt and road initiative (BRI), Beijing’s flagship development programme has mobilised much of the investment in developing countries.

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