By Alister Doyle OSLO (Reuters) - Global spending on infrastructure will total $90 trillion in the next 15 years and is the key to greener economic growth after the Paris agreement on climate change won a formal go-ahead, a study said on Thursday. A global commission, including former heads of government, business leaders and economists, said resilient infrastructure from the design of roads to rural water supplies could limit both global warming and pollution and ensure economic growth. "Investing in sustainable infrastructure is the wisest decision we can take for our future," former Mexican President Felipe Calderon, head of the Global Commission on the Economy and Climate, said in a statement. On Wednesday, the 2015 Paris Agreement on climate change passed a key threshold of support needed to enter into force in what President Obama hailed as a historic day for protecting the planet. "We have agreed a global climate agenda, now we should act on it," Calderon said. The study took a broad view of infrastructure saying it encompassed energy supplies, public transport, buildings, water and sanitation as well as what it called the "natural infrastructure" of forests and wetlands. Overall, it projected infrastructure investments from now until 2030 of around $90 trillion, roughly double recent levels and mostly in developing nations and cities. Investment needs will rise partly because of a rising global population. A billion more people will live in urban areas by 2030, roughly the equivalent of building a city the size of Washington every month, Calderon told Reuters. The projected investments in the period to 2030 are slightly bigger than the World Bank's estimate of global gross domestic product of $73 trillion for 2015. The report called for a rapid phase-out of fossil fuel subsidies, which it estimated at $550 billion in 2014, to help greener investments, and wider pricing of emissions of carbon dioxide, the main man-made greenhouse gas. Nicholas Stern, of the London School of Economics and a co-chair of the commission, said governments and investors needed to adopt new policies for investments in the next two or three years, given long lead times. He said the world economy had been weak since the financial crisis around 2008, despite government attempts to spur growth. "Many things have been tried, but what hasn't been tried properly ... is strong investment in sustainable infrastructure," he told an online news conference. (Reporting by Alister Doyle; Editing by Catherine Evans)
Trump resented having to sign letters for US troops killed in Afghanistan during his presidency because he didn't want to 'attach his name to a war he disliked,' a book says
"Aides were struck that he seemed rattled by the number of deaths involved," Maggie Haberman writes in her new book of Trump's view of Afghanistan.
Tom’s Teammate Announced He’s Retiring to Be a ‘Full-Time Dad & Husband’—Can Someone Check on Gisele?
Gisele Bündchen has entered the chat.
Lee is survived by her husband, wrestler Cory Weston, and their three young children.
"Gentrification Is Real": This Woman Says Neighbors Offered Her $800K For Her Grandfather's Multi-Million-Dollar Home
Keisha Credit inherited her grandfather's home in a multi-million-dollar neighborhood. However, shortly after his passing, she started receiving offers as low as $800,000. "That’s good money, but absolutely not. It's disrespectful and assumes I don’t know the value of my home," she said.View Entire Post ›
- The Daily Beast
Photo Illustration by Erin O’Flynn/The Daily BeastFirst, she stopped FBI special agents from even glancing at the classified documents they recovered from Mar-a-Lago. Then she appointed a special court referee that former President Donald Trump wanted to slow down the investigation over his mishandling of classified documents.But now, it’s clear District Court Judge Aileen Cannon already knew the Department of Justice was ready to hand Trump back a ton of personal records six days before she cla
The woman appeared to tell the Princess of Wales, "Ireland belongs to the Irish"
Meghan Markle and Prince Harry's strained relationship with the royal family is far from fully healed, but royal expert Katie Nicholl's book on the family, The New Royals, had rare detail about how King Charles III sees his daughter-in-law.
(Bloomberg) -- Former President Donald Trump’s lawyers were told by a federal judge to “stop wasting time” after they tried halting the deposition of former White House Press Secretary Stephanie Grisham in a defamation lawsuit minutes after it began, citing her painkiller medication. Most Read from BloombergMusk's Twitter Takeover Hits Snag Over Debt-Financing IssueKremlin Lets State Media Tell Some Truths About Putin’s Stalling WarNord Stream Leaks Caused by Detonations in Sign of SabotageTrump
- USA TODAY
The suspect in the kidnapping and killing of a central California family was a former employee of the family who had a longstanding dispute with them.
- Yahoo Sports
Richard Sherman blows a gasket after watching Russell Wilson lose on a pass at the goal line (again)
Richard Sherman had thoughts after watching Russell Wilson repeat history.
Chris Geldart, a DC Deputy Mayor for Public Safety and Justice has been charged with assault and battery after a parking lot altercation at a Gold's Gym in Arlington.Dustin Woodward, a trainer at Gold's Gym in says DC's Deputy Mayor Chris Geldart grabbed him by the neck in the gym's parking lot.
- USA TODAY Opinion
GOP leaders will rally around the professed anti-abortion candidate because they want power. They wouldn't care if he blew up the planet Alderaan.
- The Daily Beast
George Rose/GettyAt least eight people were stabbed, two fatally, on the Las Vegas Strip on Thursday by a suspect wielding a large kitchen knife, witnesses and Nevada authorities said.The attack occurred around 11:45 a.m. near the Wynn hotel and casino, according to Las Vegas Metropolitan Police. The wounded victims, three of whom remain in critical condition, were brought to local hospitals.A suspect was taken into custody in front of The Venetian, a resort less than a mile away from the Wynn.
- The Daily Beast
AFP via GettyWhile Ukraine’s military has been successfully chasing Russian troops out of one territory after another, Vladimir Putin’s foot soldiers have apparently been turning their weapons on each other as the Russian leader’s “special military operation” continues to come apart at the seams in spectacular fashion.The Kremlin’s flailing bid to get an edge on the battlefield by deploying mercenaries from the Wagner Group—which now includes hundreds of prison inmates—has reportedly backfired a
A lot of thought went into this yellow dress (which yep, you can shop RN).
The National Motorsports Appeals Panel on Thursday amended the September penalty to NASCAR Cup Series driver William Byron for his intentional contact to Denny Hamlin under caution at Texas Motor Speedway, which sent the No. 11 Joe Gibbs Racing driver spinning into the infield and out of the top five Byron, a two-time 2022 winner […]
A trio of Democratic lawmakers wants to pull all U.S. troops out of Saudi Arabia and the United Arab Emirates after an alliance of oil-producing countries announced it was slashing production, a move which is expected to drive up U.S. gas prices.
- Business Insider
Trump said the FBI found classified documents at his home because federal workers packed them. But emails Bloomberg got show boxes were already packed when movers arrived.
Emails show a GSA agent repeatedly telling Trump's team they can't use tax dollars to ship personal items, including gifts and a Trump painting.
- Rams Wire
Wagner is not amused by the streaker's action, and showed no remorse for his actions.
Not many people are buying this one.