International

IMF’s Georgieva calls for ‘carbon price floor’ to curb emissions

AFP/Editor

IMF Managing Director Kristalina Georgieva on Thursday called for adoption of “an international carbon price floor” for large emitters such as the G20 countries in order to limit the rise in global temperatures.

The head of the Washington-based crisis lender made the appeal during a virtual climate summit hosted by US President Joe Biden, which is bringing together 40 heads of state including Chinese President Xi Jinping and Russian President Vladimir Putin.

“Over 60 pricing schemes have been implemented, but the average global price is currently $2 a ton, and needs to rise to $75 a ton by 2030 to curb emissions in line with the goals of the Paris Agreement,” Georgieva said, referring to the deal which calls for action to keep the planet’s temperature within 1.5 degrees Celsius (2.7 Fahrenheit) above pre-industrial times.

“Because of the urgency to act, we propose an international carbon price floor among large emitters, such as the G20,” she said. “Focus on a minimum carbon price among a small group of large emitters could facilitate an agreement, covering up to 80 percent of global emissions.”

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Georgieva said any system should be “pragmatic and equitable, with differentiated pricing for countries at different levels of economic development.”

A carbon tax combined with increased investment in environment-friendly infrastructure could raise global GDP 0.7 percent per-year and create millions of jobs, she said.

International

Erin brings strong winds and storm surge despite weakening offshore

Hurricane Erin weakened to a Category 2 storm on Tuesday but continues to pose a threat to parts of the U.S. East Coast with potentially dangerous flooding, according to meteorologists.

Although the hurricane’s eye is expected to remain offshore, experts are concerned about Erin’s size, as strong winds extend hundreds of kilometers beyond the storm’s center.

In its 18:00 GMT bulletin, the U.S. National Hurricane Center (NHC) lifted tropical storm warnings for the Bahamasand Turks and Caicos Islands, but kept them in effect for parts of North Carolina.

Erin was located several hundred kilometers southeast of North Carolina and was moving northwestward.

“This means there is a risk of potentially life-threatening flooding of 60 to 120 centimeters above ground level,” said NHC Director Michael Brennan.

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He also warned of the possibility of destructive waves, combined with storm surge, that could cause severe damage to beaches and coastal areas, making roads impassable.

International

Three U.S. Warships deploy near Venezuela to combat drug trafficking

Three U.S. naval vessels are moving toward the coasts of Venezuela, according to international media reports on Tuesday, after White House spokesperson Karoline Leavitt confirmed that President Donald Trump is ready to combat and curb international drug trafficking.

Reports indicate that the ships will reach Venezuelan waters within the next 36 hours as part of a recent U.S. deployment aimed at countering international narcotics operations.

The announcement coincides with Leavitt’s statement that Trump is prepared to “use the full extent of his power” to halt drug flows into the United States. The naval deployment involves approximately 4,000 military personnel.

“The President has been clear and consistent. He is ready to use every element of U.S. power to prevent drugs from flooding our country and to bring those responsible to justice. The Maduro regime is not the legitimate government of Venezuela—it is a narco-terror cartel,” the spokesperson said during a press conference.

International

Cuban authorities free salvadoran convicted in 1997 hotel bombing

Salvadoran national Otto René Rodríguez Llerena was released after serving a 30-year prison sentence for his involvement in a terrorist attack at a hotel in Cuba in 1997, the Cuban Ministry of Foreign Affairs reported.

During his trial, Rodríguez Llerena admitted to placing an explosive device at the Meliá Cohiba Hotel under the orders of anti-Castro exile leaders. He was arrested the following year when he returned to Havana with another load of explosives that failed to detonate.

“The Cuban government reiterates its commitment to combating terrorism, respecting human rights, and the need for the international community to hold accountable those who promote such acts,” the statement read.

He was released on August 15 and is the second Salvadoran to complete his sentence. In December of last year, another Salvadoran, Ernesto Cruz León, was released after planting bombs at tourist centers, one of which killed an Italian tourist identified as Fabio Di Celmo.

A third Salvadoran, Francisco Chávez Abarca, also received a 30-year sentence from Cuban courts in 2010 after being extradited from Venezuela through Interpol for actions against Cuba.

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Rodríguez Llerena had requested conditional release in 2016, arguing that his actions had not caused any direct fatalities, but no further information was released about his situation until now.