Climate change could slash over 5% from Italy’s GDP by 2050 if no action is taken, according to the national budget watchdog, highlighting the urgent need for global emissions cuts.
The watchdog said the fiscal impact of such disasters could jump from 0.2% of GDP in 2024 to 5.1% by mid-century. However, if global carbon-neutrality goals are met, the damage could be limited to just 0.9%.
Recent years have seen floods and droughts wreak havoc across Italy, particularly affecting the less developed southern regions. The report notes that the frequency of extreme weather events in 2050 could be six times higher without policy changes and twice as high under a carbon-neutral scenario.
UPB President Lilia Cavallari emphasized the need for coordinated international action, warning that isolated efforts to tackle climate change may prove both ineffective and expensive. The report also highlighted the growing cost of government subsidies aimed at supporting the transition to cleaner energy sources.
Ukrainian President Volodymyr Zelenskyy has stressed that Ukraine’s priority in ongoing diplomatic negotiations is securing robust, legally binding ...
Türkiye's President Recep Tayyip Erdoğan condemned recent attacks on commercial vessels in the Black Sea, warning that such actions are unacceptable...
Israeli Prime Minister Benjamin Netanyahu held a conversation with U.S. President Donald Trump on Monday, following Trump's call on social media for I...
French President Emmanuel Macron addressed critical issues surrounding Ukraine’s ongoing conflict, the role of American mediation, and European invo...
Venezuela is facing mounting diplomatic and economic isolation as regional governments, airlines and international bodies react to escalating tensions...
Ukrainian President Volodymyr Zelenskyy has stressed that Ukraine’s priority in ongoing diplomatic negotiations is securing robust, legally binding security guarantees from Europe and the United States.
Venezuela is facing mounting diplomatic and economic isolation as regional governments, airlines and international bodies react to escalating tensions between Caracas and Washington.
Rhetoric surrounding Russia’s war against Ukraine is once again shifting toward talk of a possible “diplomatic solution.”
Cyclone-induced landslides and floods cut off roads across western Indonesia on Monday as improved weather revealed the growing scale of a disaster that has killed nearly 800 people across Southeast Asia.
Moscow and Kyiv painted very different pictures of the battlefield on Sunday, each insisting momentum was on their side as the fighting around Pokrovsk intensified.
U.S. President Donald Trump confirmed on Sunday that he had spoken with Venezuelan President Nicolas Maduro, but did not provide details on what the two leaders discussed.
Venezuela's government condemned Trump's comments in a statement posted on Saturday afternoon (November 29), describing them as a "colonialist threat" against the country's sovereignty and incompatible with international law.
U.S. and Ukrainian officials held what both sides called productive talks on Sunday about a Russia peace deal, with Secretary of State Marco Rubio expressing optimism about progress despite challenges.
Palestinian group Hamas continues its patient approach to maintain it despite provocations, says Recep Tayyip Erdoğan.
Authorities in Senegal have launched urgent measures to prevent a potential oil spill after water entered the engine room of the Panamanian-flagged oil tanker Mersin off the coast of Dakar, the port authority said on Sunday.
The death toll from devastating floods across Southeast Asia climbed to at least 183 people on Friday (28 November). Authorities in Indonesia, Malaysia, Thailand and Sri Lanka struggle to rescue stranded residents, restore power and communications, and deliver aid to cut-off communities.
At least 47 people have died and another 21 are reported missing following ten days of heavy rainfall, floods, and landslides across Sri Lanka, local media reported on Thursday (27 November).
Rescuers in Thailand readied drones on Thursday to airdrop food parcels, as receding floodwaters in the south and neighbouring Malaysia brightened hopes for the evacuation of those stranded for days, while cyclone havoc in Indonesia killed at least 28.
Floods and landslides brought about by torrential rain in Indonesia's North Sumatra province have killed at least 28 people by Thursday, with rescue efforts hampered by what an official described as a "total cut-off" of roads and communications.
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