The world facing global warming, conflict and economic intervention

The world is facing global warming, conflict, and economic intervention. Human activities contribute 90% of the problem, with the remaining 10% resulting from natural climate variability.

The image above is for illustration – credit  WEF

.

The world facing global warming, conflict and economic intervention.

.

By Ammour Benhalim, Former Senior Executive at the Bank of Algeria

23 June 2024 El Watan

 

I— The world is in the throes of a rapidly escalating global warming crisis. A recent study published in an international journal on earth sciences on June 5, 2024, unveiled a profoundly alarming trend—the world is now heating up at an unprecedented pace. This alarming shift is primarily attributed to human activities, contributing a staggering 90% to the problem, with the remaining 10% resulting from natural climate variability.

According to the study, the high rate of warming is not surprising given that greenhouse gas emissions remain very high when they should be declining. According to the study, greenhouse gas emissions are caused by the combustion of fossil fuels (coal, oil, gas), which account for 70% of the total. According to the study, this increase in emissions has led to an unprecedented rise in the concentration of greenhouse gases in the atmosphere. We are currently witnessing, all over the world, cascading consequences of the causes linked to global warming: loss of life, displacement of populations, and drought. The areas affected by climatic hazards grow yearly and undeniably represent increased risks. In the coming years, it doesn’t seem easy.

II- Conflicts. The world is a battlefield. All the indicators are flashing red. The world has transitioned from exclusion to war without delving into chaos theory. We are currently witnessing, almost everywhere in the world, a surge in conflicts, in Ukraine, in Africa, in Palestine, and the exhaustion of interventions to curb these conflicts and the inability and lack of will on the part of some member states of the Security Council, to deter their traditional alliances, from gaining more influence on the peace process.

Much of Europe has a vision that can guarantee lasting peace, which includes a strong emphasis on diplomacy, multilateral cooperation, and respect for international law, but needs more courage to use it. Unfortunately, the American administration is in a dilemma between the values advocated and the interests defended. The UN system needs to be blocked by dissension between members of the Security Council and divergent interests and visions of member states.

III- Economic interventionism- We are— currently witnessing, almost everywhere in the world, the greater integration of States to stabilise economies.

In most countries, significant measures are being taken to slow inflation, mainly to resolve the tightening of monetary policies. Many countries around the globe have put sufficient emphasis on fiscal consolidation and a brake on public debt. In the face of structural weaknesses, many countries worldwide have implemented targeted reforms. They engage in greater economic cooperation, such as forming trade agreements and sharing financial resources, to strengthen productivity growth and debt sustainability.

There is currently a slight decline in inflation worldwide, a slowdown in growth, a slow recovery in employment, and an inevitable adaptation of populations to global warming.

CONCLUSION: There is every reason to be concerned about what is happening in the environmental, political, and economic spaces, but we can make a difference. This could include reducing personal carbon footprint by using public transportation or energy-efficient appliances, supporting sustainable businesses, advocating for peace and diplomacy, and staying informed about global issues. These actions can help reduce global warming, stabilise the financial environment, and shape international relations differently.