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UN vote called ‘epic’ win for climate justice

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UN General Assembly voted to pass a resolution asking the International Court of Justice to define obligations of states to combat climate change

“Today we have witnessed a win for climate justice of epic proportions,” said Vanuatu Prime Minister Ishmael Kalsakau.

His comments came after the United Nations General Assembly voted to ask the world’s top court for an advisory opinion on national climate obligations.

The legal opinion could drive countries to take stronger measures and clarify international law.

“Importantly, the court will tell us what the legal consequences are for states that disregard these laws and cause climate and environmental harm,” he said.

Countries will submit input over the next year and it could take the court around 18 months to issue an advisory opinion.

The Republic of Vanuatu was the driving force behind the four-year campaign, leading a core group of 18 countries ranging from Costa Rica to Germany.

The United States did not support the resolution.

A spokesperson for U.S. President Joe Biden’s administration said “diplomacy – not an international judicial process – is the most effective path forward.”

Vulnerable countries like Bangladesh are applauding the move.

The country’s foreign secretary said the resolution’s passage was a ‘defining moment’ that could help bridge the gap between promised climate financing and what is being delivered.

“We hope this resolution and the consequent advisory opinion will provide a better understanding of the legal implications of climate change under international law and the rights of present and future generations to be protected from climate change.”

The resulting advisory opinion could be a vital input to the burgeoning climate-driven lawsuits around the world.

There are upwards of 2,000 cases pending worldwide.

Other international courts and tribunals are also being asked to clarify and define the law around climate obligations, including the Inter-American Court of Human Rights and the International Tribunal for the Law of the Sea. #trending #featured

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Gold plunges 5% in biggest drop since 2013

Gold prices plummet over 5%, raising global market concerns as investors react, says Chris Weston from Pepperstone.

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Gold prices plummet over 5%, raising global market concerns as investors react, says Chris Weston from Pepperstone.


Gold prices have crashed over 5% in a single day, sparking concerns across global markets and sending investors scrambling.

Chris Weston from Pepperstone breaks down the causes and implications.

#Gold #Markets #Investing #Commodities #GoldCrash #PreciousMetals #ASX #GlobalMarkets #Finance #Trading


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Trump and Xi set for high-stakes APEC showdown

Trump and Xi to meet at APEC, seeking to ease trade tensions and revive dialogue amid tariff threats.

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Trump and Xi to meet at APEC, seeking to ease trade tensions and revive dialogue amid tariff threats.


President Trump and President Xi Jinping will meet for the first time in six years at the APEC summit, aiming to ease trade tensions and revive dialogue amid tariff threats.

#Trump #XiJinping #APEC #Trade #China #USPolitics #Economy #Tariffs #AsiaPacific #GlobalSummit


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Trump to meet Xi at APEC amid trade tensions

Trump to meet Xi at APEC summit as trade tensions escalate and tariffs loom

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Trump to meet Xi at APEC summit as trade tensions escalate and tariffs loom

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In Short:
– Trump will meet Xi Jinping at the APEC summit in South Korea later this month amid trade tensions.
– China has reshuffled its trade team, appointing Li Yongjie as the new WTO representative.
President Donald Trump confirmed he will meet Chinese President Xi Jinping at the Asia-Pacific Economic Cooperation summit later this month in South Korea.
It marks their first face-to-face encounter in six years amid ongoing trade tensions.Trump expressed hope about achieving a “fantastic deal,” despite escalating disputes. He is prepared to impose significant tariffs on Chinese imports if no agreement is reached. Current U.S. tariffs on Chinese goods average 55%, with a potential increase to 155% looming.

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Trump mentioned that he believes an excellent trade deal would benefit the U.S., China and the global economy. He acknowledged the importance of the negotiations, stating that China respects the U.S. but is always seeking advantages in trade.

China’s Trade Reshuffle

China has reshuffled its trade negotiation team. Li Chenggang has been removed from his position as the representative to the World Trade Organization, while retaining his role as vice minister of commerce. This change aligns with Beijing’s strategy to adjust its trade diplomacy amid tensions.

Li Yongjie has been appointed as the new WTO representative. This team transition comes after scrutiny from U.S. officials and reflects China’s commitment to recalibrating its approach within the ongoing trade discussions.

The upcoming APEC summit will gather leaders from 21 economies, representing a significant portion of global GDP. It serves as a pivotal platform for dialogue, despite the backdrop of intensified trade negotiations.


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