1. The Development Committee met today, October 15, 2021. 2. The global economy is experiencing an uneven recovery, with uncertainty about the path of the pandemic. Low-income countries (LICs) and middle-income countries (MICs) continue to see high COVID-19 caseloads, risks of new variants, vaccine supply bottlenecks, and obstacles to vaccination.…
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The COVID-19 crisis has caused enormous loss of human life and triggered economic devastation of unprecedented proportions. However, in responding to the crisis, we have an opportunity to build back in a way that can tackle the mounting threat of climate change and environmental degradation. Globally, the last seven years have been the hottest on record and the concentration of heat-trapping carbon dioxide in the atmosphere spiked to a record high recently. Rising temperatures pose a fundamental threat to growth, stability, and poverty reduction, which is why climate change is not just an environmental problem; it is an economic one.