In 1950, the average African had almost twice as much income as the average Asian. At 63% of the world’s average, she wasn’t far behind the typical global citizen, either. By 2016, the opposite was true. The average Asian made close to 80% of the average global citizen, but the average African was relatively worse-off, [...]

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January 19th, 2018

A Fiscal Plan for Puerto Rico

Faced with physical and economic devastation, Puerto Rico now has a once-in-a-generation chance to rebuild its infrastructure and economic foundation. To succeed, decisive leadership is required on the island and in the US Congress. A new, far-reaching plan must be set to restore economic growth. Read the full open letter here.

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Green sustainable development has been on multiple discussions channels. Talks, seminars, workshops, you name it. However, financing it has not been thoroughly discussed. How do we finance sustainable green development? Is it profitable for companies who do so? Is the rate of return high enough to cover the cost of investing in green technologies? Read [...]

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Cryptocurrency chaos: Large price drops for Bitcoin, other digital currencies @JeffDSachs https://t.co/wogtLe8t3r — CNN Newsroom LA (@CNNNewsroomLA) January 19, 2018

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This has been a dizzying year for those anxious about climate change. On the policy front, President Trump has worked to unravel President Obama’s progress on climate, reversing two of his signature achievements first by withdrawing from the Paris Climate Agreement in June and then scrapping the Clean Power Plan in October. Read more here.

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Professor Jeffrey Sachs, director of the UN Sustainable Development Solutions Network, also highlighted the need for Hong Kong to combat its air pollution and speed up the reduction of carbon emissions in its energy system. Sachs, a world-renowned economist at Columbia University in New York, spoke to the Post during his visit last week to launch the [...]

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New York City’s decision to sever ties with its fossil fuel investments is set to prove a catalyst to other cities in the face of the Trump administration’s staunch support for coal, oil and gas interests, according to several leading economists. Read more in The Guardian.

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Mr. Buffett believes the bitcoin craze will end in disaster, and is not about to buy a stake in any cryptocurrency. He told CNBC: “In terms of cryptocurrencies, generally, I can say with almost certainty that they will come to a bad ending. “When it happens or how or anything else, I don’t know.” The [...]

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World-renowned expert on sustainable economic development, global macroeconomics and poverty reduction, Jeffrey Sachs will be a member of the Advisory Council for the T20 Argentina, co-chaired by CARI and CIPPEC. Read the full announcement here.

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The Paris agreement on climate change, ratified by world governments a year ago, has failed to ensure major investors are moving away from fossil fuels with the urgency required to safeguard the planet, civil society groups have said. Read more in The Guardian.

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