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U.S. VP Harris to announce $10 bln global fund to prepare for future pandemics

The new Global Health Security Financial Intermediary Fund will be created at the World Bank to coalesce resources for pandemic preparedness, the White House official said.

The Biden administration will also request an additional $850 million from the U.S. Congress for the fund, to build on the $630 million in such funding that was secured for fiscal year 2021.

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World Bank and Sri Lanka sign agreement to strengthen Climate Resilience

Sri Lanka is among countries most affected by extreme weather events and is expected to see a 1.2 percent annual GDP loss by 2050 due to climate change. It is estimated that close to 19 million Sri Lankans may live in areas that could become moderate or severe hotspots in terms of floods or droughts by 2050.

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India govt won’t buy Pfizer, Moderna vaccines amid local output -sources

That essentially means the globally popular vaccines, which their makers have pledged not to sell to private parties during the pandemic, will not be available for now in the world’s two most populous countries – China and India. The Indian government has also declined to meet the U.S. companies’ requests for legal protection over any side-effects from the use of their shots, which are currently made only in the United States or Europe, two of the sources said.

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UN climate talks: Faint progress on money, none on pollution

World leaders made “faint signs of progress” on the financial end of fighting climate change in a special United Nations feet-to-the-fire meeting Monday, but they didn’t commit to more crucial cuts in emissions of the heat-trapping gases that cause global warming.In the meeting, vulnerable countries such as the Marshall Islands and the Maldives that are “staring down the barrel” of climate change were “pleading with the developed world to step up to the plate” to provide needed money for them to cope with warming’s impacts, said British Prime Minister Boris Johnson, who hosted the meeting with Guterres.

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Investment consultants advising $10 trln in assets launch climate initiative

“The global transition to a net zero economy means asset owners have to develop their understanding of climate risks, think about changing pathways for their assets and exercise their stewardship rights,” said Luba Nikulina, global head of research at Willis Towers Watson.

“Investment consultants play a vital role in supporting asset owners on this journey and helping them increase their level of climate ambition.”

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