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It's the economy and climate change, stupid

WASHINGTON, DC: In May this year the U.S. Global Change Research Program, mandated by Congress, published its third national climate assessment.

The report confirmed that climate change is affecting every key sector of the U.S. economy and society – including the future viability of 13 major airports and the economies they support.

This was followed in June with the launch of 'Risky Business' - a project to determine the risk assessment of climate change on the U.S. economy. The report has a stark warning: Time is running out for the country and business as usual.

Risky Business is an initiative of ex-U.S. Treasury secretary Henry Paulson, former mayor of New York Michael Bloomberg and Thomas Steyer, founder of Farallon Capital Management.

Just to get the reader's attention, they say that by 2050 existing U.S. coastal property worth US$66-US$106 billion will be below sea level, rising to US$238-US$507 billion by 2100.

Read more in Issue 07 of Freightweek's monthly magazine. Meanwhile, here's Bloomberg and some members of the committee that reviewed the report's findings.



More conflicts mean more logistics

BRUSSELS: The European Commission has donated a further €14 million to the World Food Programme (WFP) to deliver aid to 1.7 million people in South Sudan.

European Union funding now totals €208.5 million, including €83.5 million from the Commission, as seven million Sudanese face famine following the outbreak of fighting in Juba last December that has spread to several states in the world's youngest nation.

Currently more than 1.1 million people have been internally displaced and over 400,000 have sought refuge in neighbouring countries.

"By signing these contracts with the WFP, our biggest partner in food aid, we will save the lives of many South Sudanese people, " said Kristalina Georgieva, the European Union commissioner for International Cooperation, Humanitarian Aid and Crisis Response.

With many areas of South Sudan cut off from road access because of the fighting and the rainy season, the WFP is using aircraft and barges to deliver aid. A four-barge convoy carrying 1,200 tonnes of cereals is currently heading for the towns of Malakal and Melut in Upper Nile State. In Malakal the food will be distributed to people in areas protected by the UN while in Melut it will be given to Sudanese refugees who have sought refuge in Maban County.

Earlier this year a WFP barge convoy was attacked with rocket-propelled grenades as it was delivering food, diesel and jet fuel to Malakal. Four people were reported injured.

Time to reverse?

 The U.S. Reverse Logistics Association values its sector at US$615 billion. It's an integral part of what the Ellen MacArthur Foundation says is a US$1 trillion per annum circular business opportunity.

Earlier this year the World Economic Forum, together with McKinsey & Co, has aunched "Project Mainstream" - a bid to save US$500 million in materials and prevent 100 million tonnes of waste globally by recycling, remanufacturing and reusing consumer goods.

The revenue opportunity for the logistics industry is twofold: it can integrate its behaviour with a growing list of manufacturers to support this process; and it can take advantage of a new trend of leasing rather than owning commercial and consumer technology.

Manufacturers increasingly will rely on logistics to make this a reality.



Reduce trade fraud, reduce development aid

WASHINGTON, DC: According to a 2013 report from watchdog Global Financial Integrity (GFI) and the African Development Bank, African countries lost between US$597 billion and US$1.4 trillion in net resource transfers out of the continent between 1980 and 2009.

Now a new GFI study of trade invoicing fraud, Hiding in Plain Sight, suggests these outflows, and the shadow financial system in which they thrive, represent one of the most damaging conditions undermining economic growth and development, governance, and human rights in Africa and around the world.

The GFI study explores the resultant capital flight and economic impact on Ghana, Kenya, Mozambique, Tanzania, and Uganda.

See the fifth issue of Freightweek's monthly magazine for the complete story. Meanwhile GFI has produced this guide to money laundering:


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