IMF:India Can Balance Curbing Emissions and Economic Growth

 

India India Can Balance Curbing Emissions and Economic Growth Photo Credit: Adobe Stock/Memories Over Mocha India is shifting toward greater renewable energy generation while striving to improve energy access, affordability, and security. It’s also poised to be one of the fastest growing economies in coming years, which will in turn sharply boost energy demand. Whether it meets those needs with fossil fuels or green alternatives has the potential to shift the trajectory of its greenhouse gas emissions for many more years to come. India has made significant progress towards meeting its emissions reductions targets under the Paris Agreement, but with current policies total GHG emissions would nonetheless increase by more than 40 percent by 2030. While a modest increase in short-term emissions may be necessary to meet poverty reduction and energy security goals, a more rapid scaling up of current policies could help lower emissions considerably over the medium-term and bring India closer to a path to net zero by 2070. As in most countries, achieving net zero will require adjustments to how people live, work, and get around—and some of these changes will be costly. But upfront action could lower the cost. First, India is expected to increase investments in coal-fired power plants, but by limiting these investments, substantial irreversible fixed costs could be saved. Second, early scaling up of renewable energy allows for a more gradual policy adjustment, which may be less politically costly, and for a more continual adoption of new technologies. Costs can also be amortized over longer periods. Our research shows an alternative emissions trajectory could be achieved by scaling up current policies. One of our proposals includes a gradual increase in subsidies on the use of renewable energy coupled with higher taxes on emissions, in addition to the many targeted policies that India has focused on. This would have the added benefit of early reduction in the reliance on imported fuels, helping to ensure universal access to energy, and of lessening the negative health effects from pollution. External climate financing and technology transfer would help mitigate costs and ensure sustainability. In our model, combining renewable subsidies and higher tariffs on coal (roughly equivalent to ramping up India’s existing excise duty on coal) would result in nearly one third lower emissions by 2030 compared to current policies. In this scenario, growing energy demand is met through a gradual increase of renewable energy and by allowing coal power to taper off, thus exceeding the goal of 50 percent non-fossil fuel electricity capacity. Under such a policy, not only would the share of renewables rise significantly but overall electricity supply would increase. While this policy has clear environmental benefits, we estimate that the policy will result in a modest reduction in the level of real gross domestic product (relative to projections based on current policies) as firms and consumers pay higher taxes. However, enough fiscal revenues would be raised to compensate the poorest citizen to such an extent that the policy would be progressive overall. Additionally, the small cost of this policy is less distortionary than other options. Lower emissions would have significant benefits. Increasing renewable energy usage and allowing coal to taper-off in this policy scenario would lead to a 2.5 percent reduction in pollution, saving lives and leading to fewer missed school and workdays. It would also decrease coal imports by 14 percent by 2030, thus increasing resilience to global changes in energy prices and improving energy security. **** Margaux MacDonald and John Spray are economists in the IMF’s Asia and Pacific Department. This article reflects research contributions from Geetika Dang and Sneha Thube. RELATED LINKS India and the IMF Staff Report

IMF:How to Close Gender Gaps and Grow the Global Economy

 

How to Close Gender Gaps and Grow the Global Economy Gender equality has come a long way since International Women’s Day was first recognized by the United Nations in 1977, but recent global shocks have stalled and even reversed progress in some countries. IMF research has consistently underscored the benefits of equality, including higher economic growth and greater stability. To mark this International Women’s Day, we present a roundup of our most recent articles, blogs, podcasts and videos on gender and women in economics.

Credit: bestfromeast/iStock by Getty Images How to Close Gender Gaps and Grow the Global Economy Too many women are locked out of economic opportunities, which is not only unfair but also harms growth and resilience for all, the IMF’s Managing Director Kristalina Georgieva, Deputy Managing Director Antoinette M. Sayeh, and Senior Advisor on Gender Ratna Sahay write in a blog. CREDIT: RYZHI | ISTOCK The Digital Gender Gap The advent of digital financial services—such as those that use mobile phones or the internet to conduct financial transactions—is transforming people’s lives. In an article for F&D magazine, IMF economists write that women continue to be significantly underrepresented in both finance and technology. CREDIT: GERALT/PIXABAY The New Economics of Fertility Fertility in high-income countries has been declining for a hundred years, with few exceptions, and it is now extraordinarily low in many areas. In an article for F&D magazine, four leading economists write that people and economies will prosper if policymakers help women combine career and family. Credit:Istockphoto guenterguni Katharine Christopherson on Legal Barriers to Women’s Economic Empowerment When women begin to participate more in the economy, good things happen. So why is women’s labor force participation still so low in so many countries? In this podcast, the Assistant General Counsel of the IMF’s Legal Department discusses the outdated laws that hold women back and what drives countries to reform them. CREDIT: BY SVETAZI | ADOBE STOCK Gender Discrimination in Economics Gender discrimination and the associated biases and barriers to career advancement are unwelcome realities for many working women—and the economics profession is no exception. Ann Mari May’s compelling and well-researched book, Gender and the Dismal Science, offers a rich historical narrative on the long-standing sources of such gender gaps.

Empowering Women in the Global Economy

With too many women facing barriers to economic opportunities, the world is missing out on higher economic growth and resilience for all. IMF Managing Director Kristalina Georgieva, Melinda Gates of the Bill & Melinda Gates Foundation, Nigeria’s Minister of Finance the Zainab Ahmed, and UN-Women’s Sima Sami Bahous discuss how to reduce gender gaps.

Women in Economics Embrace Debate Karnit Flug talks to F&D magazine about the importance of central bank accountability and transparency, and her own personal progression from research economist to the first female governor of Israel’s central bank. “Sometimes being the only woman in a room with 35 or 40 male governors was a little intimidating,” she says.

Betsey Stevenson on Work-Life Balance We often think about the economy as being driven by how productive we are on the job, but the pandemic made it clear that our personal lives and our work lives are in fact deeply linked. In this podcast, University of Michigan economics professor Betsey Stevenson says greedy jobs often force women to choose between their families or their careers.

Seema Jayachandran on How Changing Attitudes Can Change Lives The professor of economics at Princeton University says economic progress improves lives, but can also clash with some of the bigger development problems we face, like gender equality and the environment.

Emi Nakamura on Questioning Assumptions F&D magazine profiles the professor of economics at the University of California, Berkeley, best known for investigating macroeconomic questions using micro data—data that provide information about characteristics of individual people, households, and businesses.

Stefanie Stantcheva on Getting into People’s Heads F&D magazine profiles the Harvard economics professor who uses surveys and experiments to uncover the invisible in traditional economic data. She has been able to get a glimpse into why people support some policies and not others, on issues ranging from redistribution to trade to environmental taxes.

Melissa Dell on Going the Distance The Harvard economics professor pioneered new ways of unmasking legacies of the past. One of her most-cited articles, “The Persistent Effects of Peru’s Mining Mita,” figured prominently in the American Economic Association’s decision in 2020 to give her the John Bates Clark Medal, awarded each year to an outstanding economist under the age of 40.

Latest Research and Publications Tackling Gender Inequality: Definitions, Trends, and Policy Designs Legal Gender Equality as a Catalyst for Convergence IMF Strategy Toward Mainstreaming Gender Women in Fintech: As Leaders and Users

Thank you again for your interest in this special International Women's Day Roundup! Be sure to let us know what issues and trends we should have on our radar.

Nick Owen Editor IMF Newsletter nowen@IMF.org

BORD OF GOVERNORS OF THE FEDERAL RESERVE SUSTEM,update

 

Beige Book  https://www.federalreserve.gov/monetarypolicy/publications/beige-book-default.htm Federal Reserve Board announces termination of enforcement action with Atlantic Community Bankers Bank https://www.federalreserve.gov/newsevents/pressreleases/enforcement20230309a.htm Released by the Board of Governors of the Federal Reserve System The latest G.19 data are now available.   https://www.federalreserve.gov/releases/g19/current/default.htm Statistical Release Z.1 Financial Accounts https://www.federalreserve.gov/releases/z1/default.htm Released by the Board of Governors of the Federal Reserve System

 

Visit us on the web at Federal Reserve Board.

Embrace Equity for International Women’s Day

 

Library blog Wednesday 8 March 2023

● General Secretariat of the Council   Embrace Equity for International Women’s Day, 8 March   This year’s International Women's Day campaign theme in many parts of the world is centred around the theme of embrace equity. Its goal is to encourage discussion on why equal opportunities are not enou

Embrace Equity for International Women’s Day, 8 March

• 8 March 2023
 
• Event report
 
• gsclibrary

Social affairs Education & training

 

This year’s International Women's Day campaign theme in many parts of the world is centred around the theme of Embrace Equity. Its goal is to encourage discussion on why equal opportunities are not enough.

What is Gender Equity?

The European Institute for Gender Equality defines gender equity as the provision of fairness and justice in the distribution of benefits and responsibilities between women and men.

In simple terms, it means giving men and women what they need to be successful.

There is a difference between equity and equality. Equality means each individual or group of people is given the same resources or opportunities. Equity acknowledges the fact that each person has different circumstances and may need different resources or opportunities in order to achieve an equal outcome. 

Inequality disproportionately affects people living in poverty, women and marginalised groups.

The goal of gender equity is to dismantle gender-based systemic and structural barriers that perpetuate inequalities between men and women. Equity means creating an inclusive world. It should be a common concern, and everyone – not just women – can play an important role in promoting it.

Equality of outcome is the goal. Equity is the means of achieving that goal.

Celebrating International Women’s Day 2023

To mark International Women's Day 2023 the General Secretariat of the Council organised a discussion on gender equity. Thérèse Blanchet, Secretary-General of the Council of the European Union, and the first woman to lead the General Secretariat, gave the opening remarks. 

Dr Loes Meeussen from KU Leuven was also invited to discuss gender norms. These may serve a social function, but also have disadvantages for both women and men. She outlined how these norms drive inequalities both at work and in the family and explored ideas on how to best deal with stereotypes.

Council Library resources on gender equity

To help raise awareness, and to mark International Women’s Day, the Council Library has prepared a library guide of resources on gender equity.

Browsing through the tabs, you will find relevant and authoritative books and articles, EU publications, podcast episodes, videos and websites.

• Library Guide on Gender Equity

Embrace equity in all its forms.

Happy International Women’s Day to all!

This post does not necessarily represent the positions, policies, or opinions of the Council of the European Union or the European Council.

The Council Library reading room is open from Monday to Friday from 12.30 to 15.30. The Info Desk operates during office hours from Monday to Friday.

It is open to all staff of the Council of the European Union and the European Council, trainees, permanent representations of member states, staff of other EU institutions and bodies, and researchers and students on request.  Access to some library holdings may be restricted to on-site consultation.

Αντώνης Καπνίσης Ατομική έκθεση

Αντώνης Καπνίσης                                   Ατομική έκθεση                               Raft        Η ΔΛ Gallery παρουσιάζει το Σάββατο 1 Απριλίου 2023 την πρώτη ατομική έκθεση του Αντώνη Καπνίση με τίτλο «Raft » (Σχεδία), στην οποία συμπυκνώνονται η πολυετής έρευνα και οι αισθητικές και θεωρητικές αναζητήσεις του εικαστικού. Μέσα από μια ασκητική διαδικασία, ο Καπνίσης διασταυρώνει τη ζωγραφική με τις τεχνικές του σχεδίου και της χάραξης, θέτοντας ερωτήματα για τα όρια και τις δυνατότητες της ίδιας της εικαστικής πράξης.      Μεγάλων διαστάσεων σχέδια σε χαρτί και  μικρά ακρυλικά σε ξύλο συγκροτούν ένα οπτικό σύμπαν, το οποίο καλεί τον επισκέπτη να εισέλθει. Είτε πρόκειται για ανοίκεια τοπία με αρχιτεκτονικές συνθέσεις, είτε για ουτοπικές κατασκευές με αινιγματικούς λαβυρίνθους και αλλόκοτες πτυχώσεις, στον ασπρόμαυρο κόσμο του Καπνίση κυριαρχούν η αμφισημία και η αμφιθυμία.    Εν τέλει, με την έκθεση Raft ο Έλληνας εικαστικός επιχειρεί να καταδείξει ότι η ζωγραφική είναι μια πρωτίστως πνευματική και διανοητική διαδικασία· μια διαδικασία με την οποία διερευνά φιλοσοφικά και οντολογικά ζητήματα, πάνω στα οποία ο θεατής καλείται να αναστοχαστεί.   Εγκαίνια Έκθεσης: Σάββατο 1 Απριλίου 2023 και ώρα 12:00 έως 18:00   Διάρκεια Έκθεσης: 1 Απριλίου έως 24 Ιουνίου 2023 Ώρες Λειτουργίας:  Πέμπτη / Παρασκευή: 12:00 – 20:00                                  Σάββατο: 12:00 – 16:00 *Η γκαλερί θα παραμείνει κλειστή 13, 14, 15 και 29 Απριλίου. Η είσοδος στην έκθεση είναι ελεύθερη για το κοινό.