Transcripts For ALJAZ Counting 20240703

A category 8 flight thats dropped off, much needed emergency relief. Yeah, it also includes medical equipment, medicine, food, tents. We know the bang gauzy, although effective as no pain is davis states as that the town of dun and which is around 350 kilometers from here. So all the equipment, all the i even see being delivered here is going to be taken to the as quickly as possible because we know that there are thousands of people still missing. There be more of the shots and more okay. For the last week is massive as quake the desk told is or isnt very 3000 small for an aid is arriving as emergency cruise. So through revel in remote mountain areas of israel is being blamed for 2 as tries targeting, syria is western region. The 1st strike hit near the post. Steve taught us can be at least 2 soldiers, the serial. I mean, theres another attack on how much caused some material losses. Dozens of people have been killed in his rating strikes in the past year. At least 7 people have been killed in renewed fighting between rival fractions of the largest count for Palestinian Refugees in lebanon. It happened as representatives from the war in groups met for torques conjunction has found full and unconditional support to russia, north grizzly to has held towards with president Vladimir Putin at a Russian Space launch facility. So young ones, rush and expertise for it. So i Flight Program must go once more weapons, for example, in ukraine jobs the United Nation special envoy to see done full capacity as has resigned becomes months off to the head of students, really and counsel abdul fucked up a quote for his removal. Thats it for the headlines. Got more news coming up right after we go to counting the cost for that in depth analysis of todays headlines, 1000000 euros to help students here address migration. Is it going to ease the micro crisis . Will make it worse, informed opinions, we need more investors and more people that make keep decisions to embrace human footfall. Frank assessments. This balance between to toe and zones via shoals is truly important for the industry show. A side story on al jazeera, the 11 oclock visit account of the call. So now to 0, we can look at the world of business and economics this week. A private say it is not just victims are for, can lead us the amount more funding to transform the continent to a clean energy pow house. Also held back by mountains of that african nations demand relief to health and long funds for climate solutions. The plus part is done is a feeling the pinch of pallet bills and anchor is mounting of the impact of strict performs, imposed by the i am at the site. A results for its confident that contributes at the least of global warming. Africa loses up to 15 percent of its economic outputs every year. So the devastating impacts of carbon emissions. And yet the confidence has received only a fraction of the funds needed to help tackle extreme where the africans have long been seen as victims of Climate Change. But now late as in the region, once a transform that narrative and become champions of climate solutions. At the 1st Africa Climate summit in kenya, theyve demanded, wealthy nations pay the fisher and invest in the confidence Green Energy Potential African Leaders propose new Global Carbon taxes to Fund Climate Change auction. Millions of dollars with pledge to help reduce global warming. And that includes boosting carbon credits, which of both buy companies to offset their emissions, become pain and say the approach allows large corporations to continue polluting the well. Well discuss all of that with all gas shortly. But 1st, the kind of government says Climate Change and relate to the effects of overtaking poaching as the main threat to wildlife. A new approach, the Wildlife Conservation is underway in the nation, where people and wild animals living side by side, michael level as this to the elephant nelson, all the right, the drive through lands that all almost unrecognizable compared to just a few years ago. All of this was an over greys dustbowl. Locals built fences to keep wild animals of the land. But now thats all changed. The fences have been taken down and animals have been welcomed into a new Conservation Area. The community was facing a pretty full in los of land. So when we came in, we had to get rid of 25 kilometers long lines of fences. Its high season for tourist. Many your heading to the nearby mass sign morrow reserve to watch the great to build a b as to migration, but very little economic benefit ever flow to local communities. Thats why the Natural Light Conservation Area decided to do things differently. We will weary about approaching those institutional fund, those funds for trans conservation because and then they will tend to amenities and we wanted to buy a new yeah. A model that is Community Lead that they want to create one of the longest migration car doors in the region linking by sy mara, to the reserves and the serengeti. 200 people are working on the project. They say theyre already seeing the benefits of working together, living spend. Thatd be a lot of work with the us down to the things improved. We put aside money for our childrens education through this refund. One time to hold, especially during a Drought Community members deep into that contributions to help provide food and other basic commodities. Tourists often stop over at the village to sample the traditional way of life. Its hope the natural lie. Initiative can inspire others and make conservation a groceries phenomenon. Mike level for counting the cost. Well, lets take this all 9 join now from that cape town by carlos lopez whos the chair of the African Climate Foundation and professor at the university of cape town. Tell us, welcome to the program at sight from conservation to energy transition. All need big finance. Fos, and there are lots of finance places as you know from the, at the Africa Climate summit. The pledges are easy to make it easy to break. What do you think of those commitments and will they be met . You know, most of the cases of promises in brooklyn, nations, the induced summits dont have that real meaning and people have become quite the april critical about the display. Just uh, the reason is that we have now 14 years of records in terms of promises that have not been met. And i think uh this the announcements of about 23000000000. 00 for the african climate summit. The are likely to be exactly the same. What we know for sure is that climate financing so far in terms of constitutionality is part of the official development assistance, is part of aid. And what we know, because a destruct by the we c d is that there is a reduction of the a, the envelope in direction of africa, of about 7 percent a year. So what we know is that we are likely to see more of the labeling rather than new money. What about this idea of global tax is carbon taxes. How is that . What does that have any traction . And youll be, its something that has been under discussion for quite some time to gain some traction in the product. Somebody put a new financial. Ready packed, and i think the africans are very keen on having some mechanisms that will be more global, more predictable than the kind of pledges that we have seen so far. It looks like uh, in the areas like model time, but our sports and uh, certain logistics and fossil fuel profits, it makes a lot of sense equal penalize, uh polluters. And it will be very much in line with the idea that we have a all calm and responsibilities but differentiated their responsibilities as well. The government responsibilities are basically the fact that we have to save the planet, but we have not to contribute to the problem. The same way and the optic ends up being very much in the demanding side for the operations, for not having being part of the disaster that we are witnessing right now. And not having being compensated even with access to finance and the same terms as the others. Right, well one form of compensation being pays on a massive scale is carbon credit and big the summit. Big potential source of revenue tube is a lot of criticism is the and ga power shift advocate puts that just a wolf in sheeps clothing. I think squares for police has to keep on polluting. Once you will take was part of a team put together by the secretary general United Nations, to look into green washing. And this is one form of green washing that has become quite common. And our report is about integrity and if you look into the integrity that is necessary for a couple of credits and the capital markets, you will conclude that it is possible to repair some of the damage that has been done in terms of reputation for this very good way of contributing to fixing some of the patient difficulties that the africans and other Vulnerable Countries pop out or facing. But in order for us to do the right thing, we really need to make clear that wherever it is going to buy carbon credits is going to do it as part of a package that should include a very strong mitigation efforts. First. And 2nd, we need to make sure that the intermediaries are not going to melt away and not allowing actually the ones that should receive the credit is to have the major advantage of this market. Because right now, what africans are getting for the real carbon credits emitted is basically less than 10 percent. So this is becoming a bit of a colonial, trapped of using a different type of commodities ation. And thats why the n g o is not up in arms, but i think, you know, were not, were not in a situation where we can just disregard this possibility entirely to all right. Hang on the call us, cuz i wanna come back to you in a seconds on this bone has recently completed. The task is 1st, that for nature swap deal with 500000000. 00. The agreements are arranged by the bank of america low as the Interest Rates on the nations debt and prolongs repayment periods and return double, and will spend millions of dollars to wide number, reading, reserve, and strength, and fishing regulation. But a recent queue in the nation has sent invest, scrambling to assess the impacts of the security situation on the contract at back to carlos, chair of the African Climate Foundation. So that for nature swaps what do you make of them . Are they the way forward . I think we need to see this discussion about that because there is an impression that africans are trapped in that when you fact that the g p ratio is rather low. What they actually confess is a situation where they pay for whatever they have to the contract in terms of somebody in funds at levels of Interest Rates that others cannot even think of between 6 and 15 percent. When countries in europe and america in United States can actually afford to have the subsidies that will allow them to not to really be in a plane level field. And yet, you know, in terms of default in terms of the capacities of africa, we have to generalize the fact that most of the country theyve been quite responsible in the way they have dealt with that southern and responsibilities. You have a few exceptions that have not been able to to meet that or that that, that the targets and thatll be a good shift. But what we have right now is a liquidity presence. And because we have liquidity, prizes, we need money. And one possibility is actually to use that as a way of entering into the climate debate and making sure that we have a type of restructuring that is commensurate with the sort of broken emissions that people are making. And thats why that, for nature makes sense. But i think we are not yet at the scale that is necessary. We are really testing the grounds. We have some sort of pilots double on being one case. So shells being another, but we are really far from the 1. 00 trillion dollars that the africans need to address the climate. Yes, its a huge amount of money, isnt it . A huge amount of investment required, but kind of investors be confident of investing in africa when it is a situation is what we see in the bone and elsewhere in west africa going on the keys and conflicts and general mismanagement of investment funds. Well, its a, its a fair, its a fair question to ask whether the investors will be confident with a political situation that is demonstrating instability and new forms of come to station. And it sort of uh, uh, cools, that are very much linked to this new funds of contestation. But what we have to also realize is that probably most of these schools are a result of the vulnerabilities that resulted from defendant may be wanting a crane decline with crisis. So countries are really in the limits of what they can afford in terms of social programs. And did you add these b is actually quite to recover into the secondly and region. And the most of the owner of africa is also affected by it. So you have a situation where a lot of these countries are really in the edge. And part of this is because they are not being able to access liquidity in international markets. And obviously, if this continues, i expect that well have more and more crews or other forms of contestation. So thats why the questions of the investment have to be turned into something that is bigger. Most structural, we have to address the Global Financial, the governors systems that im not allowing africans to be uh, you know, treated the same way as the others, places for renewables. You have investments that are made everyone in the world right now. So there are more than money investments. The best 3 tons on investment according to every knowledge has made enough. Because we have 60 percent of the renewables potential because you know, the, the characteristics of the investments are completely different. And yet, this is where you have least investments, its about 3 percent of the total, me and you. You can repeat this story over and over and come to the conclusion that africans are really in a situation where, you know, we are putting the entire, the entire continental vicious circle. Okay . Thats why, you know, used to be me, will perform the rest, the kind of stand by because its, i want to come back to on somebody youve already alluded to. And that is african need is urging reform to the Global Financial system that has left african nations paying any 5 times more to borrow money than others off. Because external debt raised 5 fold between the 202020 the confidence public debt regional. My 700000000000. 00 nearly 3 years ago and 12 percent of that money is owed to chinese lenders. So call us this reform of the Global Financial system, which is spearheaded by the bridge town agenda. Prime minister barbados is not going to come through. Do you think what, how is it gonna shape up . I think the calls for the, for most the printed was easy, pollutions are now he did by is different. The process is that these institutions themselves have put in place. I have no doubt that well have some progress progress on the capital. I do proceed that will allow for liberating more and more possibilities of multiplying concession ality with additional money from the private investors. Because you do risk some of the investment projects. You have certainly ways of using this, the special throwing bribes, just like the i m f currency that would allow for a multiplication of projects that with the address some of the transition requirements. You have also issues over represent that the africans are asking for an additional seat in the i m f and also model presentation the world bank. So i have no doubt that this reforms are going to see the lights and this year is going to be a crucial year for those reforms. This being said, this proposal for a breach stall as good as the, the not enough to address the volume and the scale of the problems that africa facing. Thats why in this article the lab and submit the off. It comes out a bit more them dishes and theyre put to across a certain number of proposals, particularly your relation to how you deal with fiscal sovereignty. And now youre dealing with the global fisco problems such as the profit, the shifting that is allowing for about 24000000000. 00 a year to leave the company in the shop, you leasing the financial flows and the issue of actually contributing for an increase of opportunities within the African Market with the continental free trade that yeah, so based off some responses that compliment just doing what the breach style and what the Bretton Woods facing, cushions are putting in place themselves. And you know, its the, its a much more ambitious agenda. The color slip as chair of the african clement foundation. Thank you. Thank you. The now the debt crisis does the fact to move in 3000000000 people that soulmates halls of the worlds population. Thousands of developing nations are forced to spend more money pay interest on that spend on health and education. Many of them are at risk of default practice done needs move in at 22000000000. 00 to service its data and pay bills next year. The country has secured a 3000000000. 00 deal with the International Monetary fund to avoid a default on his debt. About the global lender demanded popular subsidies be flashed as part of the conditions for the bailout package. Petrol and electricity prices have rocketed while the record, the depreciation of the rupee against the dollar has depleted peoples purchasing power. Thousands of traders went on strike last week against the rising cost of living. Lets hear what some practiced on a cell phone is and people at the say, yes, the 2nd people have been bearing this for the past 70 years, but now it is reached an unbearable level. May god have mercy on us, otherwise we dont see any hock lookout false currencies depreciating against the dollar. It seems like in the future we will take money in the 2nd to buy bread. There is the issue of our currency as well. That a man goes for electricity, a very high inflation is high to actual prices have gone outreach. We are labors, we are daily wages. How can we afford this is very difficult. Thats too much. Prices have risen more than 200 percent. The iron 50000 rupees. A month and i have received an electricity bill for 26000. 00 rubies, and i can either pay this bill or buy groceries. I also have to pay bills for gas and then have to pay for school fees for my children to family last month. I have to sell a gold chain belonging to my wife to pay for my childrens overdue school fees. Want to discuss all of this . Im joining now from is low. Im a bad by. Im a, have you con is a non resident senior fellow at the atlantic council, south asia center, also the chief executive officer at the credit book, the financial services. Im a con, welcome to al jazeera. First up. Tell us more about the impact of the electricity price height on ordinary people. The price high has been disastrous for a lot of houses because theyre not expecting the height to be this much. The surprises have been consistently increasing. I would say they have doubled in less than 3 years, and incomes have not changed accordingly. So obviously electricity prices continue to make up a significant portion of the household income. Now we must spencer, during the diag for the inflation over the last one year has been 50 percent. So Household Incomes are disposable income is already fairly stretched. And when you add to the increasing electricity or utility bills, that just a lot of stress and strain the process due to this, its been very difficult for how so is particularly for house or, and which i, i work on and i find customers which may go about 60 percent of the door benedictions in the country, people are releasing the electricity consumption, but theres so much consumption that you can renew at a certain fine. Whats actually happening right now is because electricity bill, something be so much cheaper, do not have the capacity band anymore. Some people are actually doing the forwarding on their payments are being less. This one of those in a higher line bosses are lower collections as a government is not able to collect the bill, but youre used to for the problems as a read the side is fee of that. And it could be city prices of impatient dipping. Point at the stage is its just on the removal of the subsidies. Thats to blame here. And its not really the movement of the subsidies, a subsidy that i was unfairly blamed here. Whats really happened is the government has kept on increasing the taxes off and it puts the price is because the government continues to run a physical defense. Authentic has been running a physical deposit for the last many years. It utilizes electricity bill as a crutch to increase the tax revenue. So even right now im done with the with investigate data, 30 percent of the data. What i would say 33 percent of that data is just government taxes. So because of the increase in taxes that collect or higher builds, so its not really subsidy, but more in that expectation which isnt hurting the more vulnerable households, more than anyone else. And the government has come up with an electricity relief plan, which is being turned down by the i m f. What do you make of belindas conditions . Do you think they could benefit text on the people . But the lender here, the items ready claytons mind. It just was a physical surplus of primary surplus that the government for revenue are greater than its expensive. It will not specifically talk about electricity bills. What it was actually the government to start increasing its revenue to the government goes with the plan. Good. Hey, we reducing taxes on that for the best buy, right . Including taxes and other areas that shouldnt be fine as well. So i just feel that the im, if its just me and a skin board in this whole process. But its actually the responsibility of the government to actually increase more direct taxes brought in the tax net rather than just taxing the most of the house or again and again, lots of countries offering loans to pack is done including china. But is that just leading the country into that trumps in the country is already in a desktop desktop right now as we speak. And thats not, you know, extra number of factors or extra little countries. Its not going to go into effect as well because, or the last 12 to 15 months. We havent been able to raise a lot of extra another deck or dollar, but is there any way . So whats really happening is we just amazing. A lot of local then a lot of really denominated debt, which means that a lot of our local expenses are increasing and the same are being covered to their so we have already in a desktop right now, what is china is actually doing is maybe helping ferguson it moves some of the been by restructuring some of the board sector loans providing support as in, rendered way. But if i look over the last plug for b must not, im not know externally that has come on the bottom side. If anything, extra under the day 4. 00 time is actually the newest in the last would be month. And thats not good because then we havent gotten any Additional Debt or what they wouldnt need it to be. Bid has been repaired without it being refinanced overall. What do you think is a way out of pocket sounds, debt crisis and might things improve off to be election . Do you think the only way out . Why do we think that that is a structural fundamental question . We did that because expenses are greater than revenue. So theyll be out of this is essentially trying to fix stuff is kind of our fiscal position. We need to review whats on expenses and lots of sports expenditure. The pending is still happening and increase their revenue was once that equation starts to change, the cumulative, the real 0 me is grad, really going to go down and we can slowly instead they come up with this crisis. But if the do not stop spending, if he keep on spending, if you keep on running more and more different, eventually be able to reach a point, we would have to keep adding more and more data. In the point, it gets unsustainable. If the same, the new, the stock is still continues. This may have worse and the situation, if theres a new government in this document, have a mind, it would be more aggressive in terms of data expectations. Definitely have a clear mind in belgium producing expenditure. So yes, a new roman is extremely critical at this juncture. Because back when have the mandate big more right or more structured on long term decisions. And in durham, government may not have the capacity. If youve already been demanded for being such decisions, great to get your perspective on this. I. Com. Thank you. Thank you. And that is all show for this week. If youd like to comment on editing, youve seen, you can tweak may clock out just please use a hash tag. Acdc, well, just drops an e mail content and calls out is there a dot net is our address. Plenty more of you online at ads or adult coma slash cdc. Thatll take you straight to our page, which is individual reports, links, and indeed entire episodes for you to catch up on. Thats it for this edition of kind of the cost on the cloud and the whole team. Thanks for joining us. The news on al jazeera coming right to the, the the to the seems to have the right to boycott. Anyone i want to and the state has no business getting involved in that. A new 3 part series explodes, the implications of us and people. The freedom of speech and 1st amendment got chosen and blessed us because we protect israel. Im going to continue. Do you want to state level all that i cant support that whenever you see injustice regardless of what space or gender, whats going on. You see that you have to Say Something facing liliana, teens. Does the un fits the purpose was like many critics sites just obsolete and doesnt get anywhere near enough done to the amount of money that is put into its hard hitting interviews. You think look to their lives on washing, its enough for money to go on its own and built, its on a thought provoking on for centuries, people have been taken care of are. So i have every confidence that future generations will do it as well via the story on told to how does era examine the, the impact of todays headlines . Setting the agenda for tomorrows discussions. International filmmakers, some world class journalists, bring programs to inform and inspired on al jazeera, the more bodies recovered in libya or the death toll from the devastating floods rises to over 5000 noonday clock. This is out turn life and also coming up, rescue work is in morocco racing against time to find survivors instead of 8 in areas hit by last week. So its quite renewed fighting between rival palestinian fractions and 11 and leave 70 people