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Climate crisis could justify asylum claims: UN committee
By Dario THUBURN
Geneva (AFP) Jan 20, 2020

'Green Swan': Bankers warn of climate change risks
Zurich (AFP) Jan 20, 2020 - Climate change could end up destabilising the entire global financial system, economists from the Switzerland-based Bank for International Settlements (BIS) and the French central bank said in a report Monday.

With economic damage and uninsured losses, climate risks could generate a "green swan", they warned -- a reference to the concept of an unpredictable and devastating "black swan" event developed by philosopher Nassim Nicholas Taleb.

"The increase in the frequency and intensity of extreme weather events could trigger non-linear and irreversible financial losses," Francois Villeroy de Galhau, governor of France's central bank, said in the report.

The report said that central banks, which aim to preserve financial system stability, can help by developing the analytical tools to measure climate risks or by investing some of their monetary reserves in "green bonds".

Green bonds finance projects with environmental criteria and are the most common vehicles for green finance.

But there is "no silver bullet", said Luiz Awazu Pereira da Silva, deputy general manager of the BIS, which is often referred to as the central bank of central banks.

The authors of the report said banks on their own could not reduce the financial risks, calling on governments, the private sector and civil society to coordinate efforts.

The BIS in September created a new fund to make it easier for central banks to invest in green bonds.

But current shaky global market conditions mean the take-up of green bonds has been relatively low even though the yields can be just as high as regular bonds.

Governments that send refugees back to countries severely affected by climate change could be in breach of their human rights obligations, a UN committee said on Monday.

The independent experts on the Human Rights Committee issued a non-binding but closely watched ruling in a case brought by Ioane Teitiota from the Pacific island nation of Kiribati.

Teitiota was disputing his expulsion in 2015 from New Zealand, where he had applied for protection in 2013.

He had argued that his own island of South Tarawa became badly overcrowded because rising sea levels had made other islands belonging to Kiribati uninhabitable, causing land disputes and reduced access to safe drinking water.

The committee ruled against the claim, saying his life was not immediately in danger, but agreed that "environmental degradation can adversely affect an individual's well-being and lead to a violation of the right to life".

Several Pacific island nations including Kiribati are seen as among the most vulnerable in the world to climate change as they are just a few metres above sea level.

"Given that the risk of an entire country becoming submerged under water is such an extreme risk, the conditions of life in such a country may become incompatible with the right to life with dignity before the risk is realised," the experts said.

The experts said countries planning to deport failed asylum claimants should take into account the effects of climate change in the country of origin or risk breaching their obligations to defend the claimants' right to life.

- 'Ground-breaking' -

Israeli professor Yuval Shany, the committee's vice chair, said the experts were "leaving the door open for such cases".

"We did indicate quite clearly that we can envisage future situations in which individuals will be able to claim a right-to-life violation on the basis of climate change," he said, urging governments to take this into consideration when reviewing asylum claims.

Amnesty International called the case "ground-breaking".

"The decision sets a global precedent," Kate Schuetze, Pacific researcher at Amnesty, said in a statement.

"The message is clear: Pacific Island states do not need to be under water before triggering human rights obligations to protect the right to life," she said.

Schuetze said Pacific Island nations were the "canary in the coal mine for climate-induced migrants".

The UN refugee agency has said it expects more and more people to be displaced by environmental factors in the coming years but the concept of "climate refugees" currently does not exist under international law.

The official definition of a refugee is someone who has crossed an international border "owing to well-founded fear of being persecuted for reasons of race, religion, nationality, membership of a particular social group or political opinion".

The UN Human Rights Committee is made up of 18 independent experts who issue opinions and recommendations that carry reputational weight, but they have no power to compel states to follow their rulings.


Related Links
Climate Science News - Modeling, Mitigation Adaptation


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CLIMATE SCIENCE
Trump and Thunberg face off as Davos warms to climate action
Paris (AFP) Jan 17, 2020
US President Donald Trump will renew his running battle with young climate campaigner Greta Thunberg when they join the A-list movers and shakers attending the 50th anniversary of the Davos conclave next week. From climate change to tensions in the Middle East, via trade conflicts and fears of pandemics, the more than 3,000 delegates at the World Economic Forum will thrash out challenges as imposing as the surrounding Swiss Alps. The WEF has come a long way since its inaugural edition in 1971 an ... read more

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