April 2024: Global Economy At Risk: Action Mounts Amid Alarms On Planet's Survival

April has seen significant advancements in environmental and climate action. From reports of climate change damage taking a toll on the global economy to initiatives by the Biden government to curb pollution, the month saw essential steps toward sustainability. Meanwhile, experts warn that survival is at risk if immediate steps are not taken. The European Parliament adopted stricter air pollution limits, emphasizing the urgency of addressing environmental challenges. Additionally, increasing financial support from international organizations like the World Bank shows the swiftness of climate litigation and mitigation efforts worldwide. Here's a summary of critical events and initiatives that shaped environmental discourse in April.

Climate Change Damage Could Cost $38 Trillion Yearly By 2050

Damage to farming, infrastructure, productivity, and health from climate change will cost an estimated $38 trillion per year by 2050, German government-backed research finds, a figure almost certain to rise as human activity emits more greenhouse gasses. The economic impact of climate change is not fully understood, and economists often disagree on its extent. A study calculates that climate change will shave 17% off the global economy's GDP by the middle of the century.

Read more: Climate change damage could cost $38 trillion yearly by 2050

Asia Is The Most Climate Disaster-Impacted Region

Asia was the world's most disaster-hit region due to climate-related hazards last year, the World Meteorological Organization (WMO) said, with floods and storms causing the most casualties. In a report, WMO said that 79 disasters linked to hydro-meteorological events had been reported in Asia in 2023. More than 80% of these were related to floods and storms that caused more than 2,000 deaths. Asia is warming faster than the global average, according to WMO.

Read more: Asia is most climate disaster-impacted region

Nature Loss Could Slow UK Growth By 12% By 2030s

Nature loss could cost the U.K. £300bn in economic growth without action, according to a study. Biodiversity loss and environmental degradation create significant risks for the U.K. economy and financial sector. It could slow growth by as much as 12% in the 2030s, Green Finance Institute (GFI) said in the scenario analysis.

Read more: Nature loss could slow UK growth by 12% by 2030s

Two Years To Save The Planet: U.N. Climate Chief

Governments, business leaders, and development banks have two years to take action to avert far worse climate change, the U.N.'s climate chief said, in a speech that warned global warming is slipping down politicians' agendas. Scientists say halving climate-damaging greenhouse gas emissions by 2030 is crucial to preventing a rise in temperatures of more than 1.5 Celsius, which would unleash more extreme weather and heat. Yet last year, the world's energy-related CO2 emissions increased to a record high.

Read more: Two years to save the planet: U.N. Climate Chief

Air Quality In Parts Of The US Worst In 25 Years

About 44 million Americans live in cities or counties that received a failing grade for air quality, which has deteriorated to its worst in 25 years across a swath of the U.S., in part because of wildfires, a report released this month found. The American Lung Association's annual "State of the Air" report said cities with the poorest quality air are concentrated in the West, including Los Angeles and San Bernardino in California and Phoenix, Arizona.

Read more: Air quality in parts of the US worst in 25 years

PM Sunak Sets Britain Back On Climate Change

Prime Minister Rishi Sunak has set Britain back on tackling climate change and must do more on heating and industrial emissions to stop slipping behind other nations, the head of the government's advisory body has said. Chris Stark, who will step down as chief executive of the independent Climate Change Committee next week, told the BBC broadcaster that U.K. climate policy had become less ambitious. "That is extremely hard to recover," Stark said.

Read more: "PM Sunak sets britain back on climate change"

World Bank To Provide $416 Million Loan To Turkey To Reduce Pollutants

The World Bank said on Friday that it signed a $416 million loan agreement with the Development and Investment Bank of Turkey (TKYB) to help Turkish industries reduce air pollutants and greenhouse gas emissions. The loan would unlock long-term financing for Turkish manufacturers via a project aimed at helping the manufacturing sector adopt clean technologies.

Read more: World Bank to provide $416 million loan to Turkey to reduce pollutants

US Sets First Standard To Curb 'Forever Chemicals' From Drinking Water

The U.S. Environmental Protection Agency has announced its first-ever drinking water standard to protect people against toxic "forever chemicals" in many household and everyday items. It offered $1 billion to states for public water system testing, the agency's first significant move to curb the cancer-causing chemicals. Polyfluoroalkyl substances (PFAS) do not easily break down in the human body or environment. These chemicals can be found in non-stick pans, cosmetics, firefighting foams, and stain-resistant clothing.

Read more: US sets first standard to curb 'forever chemicals' from drinking water

New Zealand Announces 'Independent Review' Of 2050 Methane Targets

New Zealand's government said an independent panel of experts would review the country's methane targets to guide domestic climate change goals for 2050. "This independent review, which will report back to the government by the end of the year, will provide evidence-based advice on our domestic 2050 methane target, consistent with the principle of no additional warming," Agriculture Minister Todd McClay said.

Read more: New Zealand announces 'independent review' of 2050 methane targets

Canadian First Nation Declares Emergency After INEOS Chemical Release In Ontario

Canada's Aamjiwnaang First Nation declared a state of emergency due to a chemical release from INEOS Styrolution's plastic manufacturing plant in Sarnia, Ontario. The Frankfurt-based company, a unit of privately owned INEOS Group was issued a compliance order by the provincial environment ministry on April 18 to investigate the cause of the leak at its Ontario factory. The state of emergency will stay in place unless the discharge of benzene drops to acceptable levels.

Read more: Canadian First Nation declares emergency after INEOS chemical release in Ontario

G7 Discussing 2035 End Date For Coal-Fired Power Plants

Energy ministers from the Group of Seven wealthy countries meeting in Italy are discussing setting a common target date of 2035 to shut down their coal-powered power plants, a source close to the matter told Reuters. An agreement on coal would mark a significant step in the direction indicated by the COP28 United Nations climate summit in Dubai last year to transition away from fossil fuels, of which coal is the most polluting. The G7 nations includes Italy, the United States, Britain, France, Germany, Canada and Japan.

Read more: G7 discussing 2035 end date for coal-fired power plants, source says

April saw significant developments towards sustainability amidst concerns about the planet's survival. Reports of climate change damage costing trillions annually by 2050 and Asia experiencing the highest number of climate-related disasters emphasize the urgency for action. Initiatives such as stricter air pollution limits in the EU and financial support from entities like the World Bank indicate a global commitment to combatting environmental challenges. However, quick efforts are crucial to protect the planet for a better tomorrow.