Under a new climate target for 2030, European automakers would need to embrace tougher pollution standards, with new rules that could retire combustion engines to science museums. Energy will grow increasingly cleaner, with an additional 350 billion euros ($415 billion) per year required for investment in production and infrastructure. And to help cut greenhouse gases in agriculture, Europeans would be encouraged to eat less meat.

‘Developing Asia’ to shrink for first time in nearly six decades: ADB

Sep 14, 2020

“Most economies in the Asia and Pacific region can expect difficult growth path for the rest of 2020,” ADB Chief Economist Yasuyuki Sawada said in a statement.

“The economic threat posed by the COVID-19 pandemic remains potent, as extended first waves or recurring outbreaks could prompt further containment measures,” Sawada said.

COVID-19 has set global health progress back decades – Gates Foundation

Sep 14, 2020

“After 20 consecutive years of declines in extreme poverty, we’ve now seen a reversal,” said Mark Suzman, chief executive of the Gates Foundation, in an interview with Reuters. “We’ve had nearly 40 million people thrown back into extreme poverty. That’s well over a million a week since the virus hit.”

The report cited International Monetary Fund projections that, despite the $18 trillion dollars already spent on trying to stimulate economies around the world, the global economy will lose $12 trillion or more by the end of 2021 – the biggest global GDP loss since the end of World War Two.

China coronavirus vaccine may be ready for public in November: official

Sep 14, 2020

A unit of state pharmaceutical giant China National Pharmaceutical Group (Sinopharm) and U.S.-listed Sinovac Biotech SVA.O are developing the three vaccines under the state’s emergency use programme. A fourth COVID-19 vaccine being developed by CanSino Biologics 6185.HK was approved for use by the Chinese military in June.

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