• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Economy

Bridging data gaps can help tackle the climate crisis

3 years ago
in Economy, Features, highlights, Home, home-news, latest News
6 min read
0 0
0
82
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

Bridging data gaps can help tackle the climate crisis

A famous physicist once said: “When you can measure what you are speaking about, and express it in numbers, you know something about it”.

Nearly 140 years later, this maxim remains true and is particularly poignant for policymakers tasked with addressing climate mitigation and adaptation.

That’s because they face major information gaps that impede their ability to understand the impact of policies—from measures to incentivize cuts in emissions, to regulations that reduce physical risks and boost resilience to climate shocks. And without comprehensive and internationally comparable data to monitor progress, it’s impossible to know what works, and where course corrections are needed.

This underscores the importance of the support of G20 leaders for a new Data Gaps Initiative to make official statistics more detailed, and timely. It calls for better data to understand climate change, together with indicators that cover income and wealth, financial innovation and inclusion, access to private and administrative data, and data sharing. In short, official statistics need to be broader, more detailed, and timely.

The sector where change is needed the most is energy, the largest contributor to greenhouse gas emissions, accounting for around three-quarters of the total.

Economies must expand their renewable energy sources and curb fossil fuel use, but while there’s been a gradual shift in that direction, the pace is still not sufficient. And not only is there a lack of policy ambition in many cases, there also is a lack of comprehensive and internationally comparable data to monitor progress.

chart 1

To accelerate cuts to emissions, policymakers need detailed statistics to monitor the path of the energy transition and assist them in devising effective mitigation measures that can deliver the fastest and least disruptive pathway toward net zero emissions.

chart 2

At the same time, countries also need to monitor how mitigation and adaptation measures affect household incomes, consumption, and wealth. How, for example, will rising fossil fuel costs impact vulnerable households? And how should we prioritize investments to address new weather patterns and more frequent climate shocks?

Robust data are vital—because policies must be based on a clear understanding of the broad impacts of climate change, the green transition, and the associated physical, economic, and financial risks.

Encouragingly, the new Data Gaps Initiative argues for G20 economies to go beyond gross domestic product in their national statistics, by capturing a suite of climate indicators and distributional estimates of household income and wealth. This will help policymakers better weigh the distributional implications of policies.

RelatedPosts

Ghana Link Assures Stakeholders of Major ICUMS Upgrade to Address Downtime Concerns

Troubled Manchester United Boss Amorim Contemplates Future After Grimsby Debacle

African Athletes Shine in 2025 Diamond League: A Celebration of Talent

In welcoming the new data gaps initiative, G20 Leaders asked the IMF to coordinate with the Financial Stability Board, the Inter-agency Group on Economic and Financial Statistics, and statistical authorities across the G20 to “begin work on filling these data gaps and report back on progress in the second half of 2023, noting that the targets are ambitious and delivery will need to take into account national statistical capacities, priorities, and country circumstances as well as avoiding overlap and duplication at the international level.”

The initiative will draw on the collective expertise of the international agencies that are coordinating the work as well as on work undertaken by groups such as the Network for Greening the Financial System to develop a common understanding of climate-related financial instruments.

This work is also closely linked to other IMF initiatives such as the IMF’s Climate Indicators Dashboard, which is another statistical initiative to help supply relevant climate-related data for economic analysis. It is also linked to the IMF joint project to provide implementation guidance on G20 high-level principles for taxonomies and other sustainable-finance alignment approaches.

G20 policymakers have recognized that better data is needed to inform the more complex challenges they face. The data gaps initiative will play a key role in addressing this.

Tags: Bridging data gaps can help tackle the climate crisis
No Result
View All Result

Highlights

BoG Designates Digital Credit Services as Non-Bank Financial Service

Finance Minister Urges Fairer Global Framework as Africa’s Debt Burden Hits $1.3 Trillion 

UK Pledges Support as Ghana Faces GIABA Assessment Amid Gold Sector Scrutiny

BOST Holds 2025 AGM, Tasked to Deliver Profitability and Support Green Transition

Brussels Airlines Adds 5 More A320neo Aircraft to its Fleet

Bog Governor Hints at $4bn Inflows From COCOBOD Financing Deal to Support Cedi

Trending

Business

Ghana Link Assures Stakeholders of Major ICUMS Upgrade to Address Downtime Concerns

August 29, 2025

Ghana Link Assures Stakeholders of Major ICUMS Upgrade to Address Downtime Concerns Ghana Link Network Services Ltd,...

Troubled Manchester United Boss Amorim Contemplates Future After Grimsby Debacle

August 29, 2025

African Athletes Shine in 2025 Diamond League: A Celebration of Talent

August 29, 2025
Governor of the Bank of Ghana (BoG), Dr Johnson Asiama,

BoG Designates Digital Credit Services as Non-Bank Financial Service

August 29, 2025

Finance Minister Urges Fairer Global Framework as Africa’s Debt Burden Hits $1.3 Trillion 

August 29, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.