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UN Climate Change Conference in Paris: Between optimism and realism

November 26, 2015
Analyst:
Roughly 150 countries have submitted their national climate protection commitments in the run-up to the United Nations Climate Change Conference in Paris. While these commitments will probably not suffice to meet the 2°C target, related assessments are very favourable nonetheless. Obviously, the bottom-up approach, that is to say the voluntary national climate protection commitments, promises greater progress than the globally coordinated negotiated solution targeted at past UN climate conferences. There is an awareness that the current proposals have shortcomings as regards the 2°C target, but there are hopes that the individual countries will aim for more ambitious targets over the next few years. Sentiment is thus swinging between optimism and realism. Considering the growing demand for energy, the international community is clearly only just beginning to encounter the real challenges of climate protection. [more]

More documents contained in "Talking Point"

175 (157-168)
June 13, 2014
157
Forecast to grow at 8% per year over the next five years, Mozambique is benefiting from mineral wealth and infrastructure development following a 30-year civil war and from a favourable macroeconomic environment. However, the southern African country has a very low GDP per capita (USD 655). It is now facing the challenge of developing its wealth of natural resources, particularly the gas sector, so that this benefits the population at large and leads to sustainable growth. [more]
April 1, 2014
Region:
158
The fundamental transformation of the European banking sector into a leaner, less profitable, low-growth but also more stable industry in the “new normal” continues to make progress. Banks are shedding assets, reducing costs and raising capital ratios, with revenues in 2013 having declined for the third consecutive year. Legacy assets and litigation remained an additional, significant burden. Nonetheless, profitability has improved somewhat from its extremely low levels and may well rise further this year. [more]
December 16, 2013
Region:
159
Following years of struggle and having seen their world turned upside down, European banks may finally be heading for a (somewhat) smoother ride in 2014. Profitability is returning, though so far this is mainly driven by lower extraordinary charges rather than improvements in revenues and costs. Pressure to build capital may lessen thanks to significant progress over the past two years, yet currently banks are still shrinking relentlessly. Much will also depend on regulatory and supervisory actions, especially on how the EU Banking Union is implemented. [more]
November 11, 2013
Analyst:
160
Among the agreed derivatives market reforms, the central clearing of OTC derivatives contracts has a pivotal role that changes the existing risk management and collateralisation practices tremendously. Nevertheless, to date, there is little empirical evidence on the impact of the new market infrastructure on CDS spreads. Controlling for a number of factors, our results indicate that the costs of central clearing seem to be passed on to end-users in the form of increased CDS spreads. [more]
October 14, 2013
161
The East African country has been experiencing impressive economic growth: double-digit between 2004 and 2010, it has averaged 8.7% annually over the past five years thanks to the expansion of agriculture and services. Ethiopia has thus been the fastest-growing economy in Sub-Saharan Africa (SSA). Projected at 6.5% annually over the next five years, it is set to remain on a robust growth path. [more]
June 13, 2013
162
The former Portuguese colony has developed from an agriculture-based economy into one of Sub-Saharan Africa’s main oil and mineral producers and its third largest economy, with strong growth potential. Relative political stability after a 27-year civil war ending in 2002, high foreign investment (current FDI inflows are estimated at USD 15 bn) and strong government spending have propelled Angola onto a robust growth path: annual real GDP growth has averaged 11% over the past decade, it is estimated at over 8% in 2012 and around 7% in upcoming years. The government has embarked on a series of reforms towards economic diversification and more inclusive growth [more]
February 28, 2013
Region:
163
Since 1997, small and medium-sized enterprises (SMEs) in Germany have raised their average equity ratio substantially from 6% to 22%, not least as a reaction to more stringent lending requirements by banks. At the same time, SMEs’ dependence on bank loans declined
whose share in total assets dropped to just 26% from 37%.
Large differences remain between private and public firms. [more]
November 30, 2011
Region:
167
Migration can be an effective way of reducing geographical imbalances on the labour markets. Together with politicians and the larger society, companies have a key role to play in integrating migrant workers. It is also in the interest of companies to make good use of the international pool of qualified labor. With 20% of the population being either immigrants themselves (10%) or second-generation immigrants (another 10% according to the EU Commission) – both in Germany and France – the costs of not fully integrating this potential are high, both for business and society. [more]
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