Zimbabwe faces worsening food crisis due to El Niño droughts
© WFP/Matteo Cosorich
As a result of the El Niño weather pattern, record droughts, food insecurity is increasing in Zimbabwe, according to a new UN research. Almost 7.6 million people are in danger of experiencing acute hunger as a result of the drought, which destroyed more than half of the nation’s harvest. This has happened barely two months after UN humanitarians designated Zimbabwe as a hunger hotspot. With a fifth of students missing school and major water shortages, the El Niño event—which has been made worse by the climate crisis—has had a serious negative impact on Zimbabwe’s economy. Officials in Zimbabwe proclaimed a state of emergency across the country in April, predicting that during the peak famine period of January to March 2025, 57% of rural communities would experience food shortages. Due to low economic opportunities and high food prices, humanitarian needs are predicted to stay high until the harvest of 2025. Although just 11% of a $429 million flash appeal has been financed, the UN and World Food Programme have been collaborating with the Zimbabwean government to give help. The Democratic Republic of the Congo, Madagascar, and Malawi are among the other Southern African nations that have been impacted by the droughts, and they all urgently need humanitarian aid.
Sand mining worsens Mekong’s saltwater problem
Vietnam’s agricultural heartland, the Mekong Delta, is under attack. A lesser-known factor contributing to the region’s problems is riverbed sand mining, even if climate change, upstream dams, and land subsidence are well-known risks. The destructive phenomenon known as saltwater intrusion—which happens when seawater seeps inland, especially during droughts—is being accelerated by this practice. Sand mining reduces the natural barriers of the river against saltwater by deepening the riverbed and removing sediment. Millions of people experience economic hardship as a result of rising saline levels, crop damage, and freshwater shortages. The severity of the crisis is highlighted by the effects of the droughts in 2016 and 2020, which were made worse by sand mining. Stricter laws governing sand mining, sediment restoration, better water management, and the encouragement of crops resistant to salt are some of the tactics required to lessen these difficulties. The Mekong Delta and its people can be safeguarded against the growing danger of drought by tackling the intricate interactions between human actions and natural cycles.
Adoption rates for climate transition plans are still low in Asia despite increased awareness and demand
Despite Asia’s extreme climate vulnerability, investors in the region are taking a while to implement practical risk-reduction and opportunity-capitalization measures. Only a tiny percentage of firms have actual climate action plans that are in line with global targets, despite the fact that climate change is widely acknowledged as a substantial issue. The report draws attention to a disconnect between knowledge and action. Even though businesses are aware of the potential hazards and opportunities associated with climate change, it is still difficult to translate this understanding into concrete plans. Progress is hampered by elements like the difficulty of harmonizing business models with climate science, ambiguous market conditions, and striking a balance between profit and decarbonization. Businesses must create solid plans for the climate transition in order to expedite climate action. These strategies must include detailed procedures for cutting emissions, preparing for climate change, and finding new low-carbon commercial ventures. Furthermore, investors need a standardized reporting system to accurately evaluate the performance of their companies. In the end, making the shift to a net-zero economy calls for capable leadership, cooperative efforts from all parties involved, and helpful government regulations. Asia can realize the potential of a future resilient to climate change by tackling these issues.
Singapore’s banks and regulators can do more to drive a regional coal phaseout
Private banks need to stop financing new coal expansions and shift their investments in the direction of renewable energy, grid infrastructure, and decommissioning coal assets to accomplish a true phase-out of coal. With coal accounting for more than 50% of its electricity, Southeast Asia has enormous challenges in making the switch to sustainable energy. Singapore has committed to combating climate change, but its banks—DBS, UOB, and OCBC—remain committed to supporting large coal companies like Glencore and the Adani Group, undercutting the country’s efforts to phase out coal. Despite having scaled back their coal financing since 2019, Singapore’s banks have nevertheless given the coal industry close to US$2 billion in loans and capital market issuances over the previous four years. This ongoing backing runs the risk of sustaining the growth of coal and runs counter to climate aspirations. Financing for enterprises with ambitions to expand their coal operations should be excluded in favor of stricter coal rules. Climate-specific capital requirements and mandated financial disclosures about climate change are just two examples of the explicit frameworks regulators must use to impose these changes. Setting global norms for financing coal phaseout and encouraging sustainable investments are two ways Singapore may take the lead. Southeast Asia can fulfill climate commitments by guaranteeing inexpensive access to power and promoting the energy transition by stopping coal finance. A robust energy future in the area may be made possible by Singapore’s aggressive stance.
References
https://news.un.org/en/story/2024/08/1152936
https://www.eco-business.com/opinion/sand-mining-worsens-mekongs-saltwater-problem
