RESOURCES

CLIMATE CHANGE, COMPETITIVENESS, AND TRADE. Chatham House, May 2007. This publication by Chatham House's Richard Tarasofsky and Aaron Cosbey of the International Institute for Sustainable Development (IISD) focuses on the nature of concerns over competitiveness and considers the relationship between the Kyoto Protocol and the World Trade Organization. The authors consider "what trade law might be applicable to each of the various possible instruments states might use to address climate change and competitiveness concerns." The report is available at http://www.chathamhouse.org.uk/viewdocument.php?documentid=8773

BANKING ON VALUE: A NEW APPROACH TO CREDIT RISK IN AFRICA. United Nations Environment Programme Finance Initiative and the African Task Force, 2007. This study highlights how banks in South Africa and Nigeria are increasingly factoring environmental, social, and governance (ESG) issues into their credit risk assessment for corporate and consumer loans. According to the study, the driving forces behind this development include the requirements of multilateral banks and lending bodies to meet ESG standards, as well as 'reputational risks' reflecting concerns by banks over being linked to an environmentally unfriendly or socially damaging project. The study is available at http://www.unepfi.org/fileadmin/documents/banking_on_value.pdf.

GLOBAL TRENDS IN SUSTAINABLE ENERGY INVESTMENT 2007. United Nations Environment Programme, June 2007. Climate change worries together with high oil prices and increasing government support have fueled soaring investment rates in the renewable energy and energy efficiency industries, according to this study. Noting that renewable energy sectors such as wind, solar, and biofuels attract the highest investment levels, the study also stresses that renewable energies are no longer subject to the whims of fluctuating oil prices, but are becoming generating systems of choice for many power companies and countries. The study is available at http://www.unep.org/pdf/SEFI_report-GlobalTrendsInSustainableEnergyInverstment07.pdf.

SUDAN POST-CONFLICT ENVIRONMENTAL ASSESSMENT. United Nations Environment Programme, June 2007. This assessment report argues that environmental degradation is among the root causes of decades of social strife and conflict in Sudan. Investment in environmental management will be a vital part of the peace building effort, says the report, noting that the most serious concerns are land degradation, desertification and deforestation. The assessment report is available at http://sudanreport.unep.ch/UNEP_Sudan.pdf.

POLICY BRIEF: GLOBALISATION, JOBS, AND WAGES. The Organisation for Economic Cooperation and Development, June 2007. Economists have long maintained that open trade and investment policies can be a powerful force for raising living standards. The recent dynamism of China and India demonstrates how trade and investment liberalisation can make a major contribution to raising incomes and reducing poverty in developing countries. But while trade raises overall income and welfare, some workers may lose from globalisation. This policy brief, a shortened version of the OECD's recently released Employment Outlook report, examines how economic globalisation has positively and negatively affected the world's workers. The policy brief is available at http://www.oecd.org/dataoecd/27/1/38796126.pdf