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tv   Counting the Cost  Al Jazeera  March 6, 2021 12:30pm-1:01pm +03

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term in office that led to violent protests that killed dozens of people because more violence and more deaths leading to december's presidential election something most ivorians don't want to see repeated a comedy al-jazeera. in rio de janeiro thousands of elderly people have had to line up for hours for a corona virus vaccines many killed overnight after a city mayor said jobs would be given to people age 60 and over but only a fraction of those needed in brazil are available lines of vehicles and people stretched for several coma says. this is al jazeera and these are the headlines pope francis has made an appeal for common ground among religious groups catholic leader was speaking at an interfaith
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meeting in the ancient city of move on the 2nd day of his historic visit to iraq earlier he met with iraq's top shia muslim cleric in the shelf the 1st pope to travel to iraq we. believe is a strong element that unifies us terrorism and extremism has nothing to do with religion terrorism exploits religion it is up to us to find solutions it is up to us to face and deal with those who betray religions security forces have used tear gas and stun grenades to break up another day of and see the protests and here mark the u.n. special envoy has urged the security council to take swift action to stop an increasingly violent crackdown. the u.s. has condemns new veto powers proposed by china and hong kong selection of the election candidates view of the legislation on friday at the opening of its largest political meeting the national people's congress the senate has approved additional
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weekly age of $300.00 to a white americans until the beginning of september a compromise between democrats and republicans overcomes one of many obstacles to president joe biden's year 2 trillion dollar coverts $1000.00 will be filled senegalese opposition leader was one some go appears in court for the 1st time since his arrest on wednesday his detention has sparked want process which of killed 4 people some calls facing a charge of rape allegations he denies. pakistan's prime minister and run khan has won a vote of confidence in parliament after suffering a surprise setback in senate elections governing p.t.i. party won the most seats but as finance minister last night prime minister and opposition candidates use a for us rally and that's you up to date stay with us here own al-jazeera counting the cost is up next. we.
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compensate as we listen to the only music you know the most beautiful music in the world is silent meet with. the stories to. 0. hello i'm doubting obligato this is counting the cost on al-jazeera your look at the world of business and economics this week millions of people could be forced to move a sea levels rise but as the cost of building sea defenses increase we ask why wealthy nations aren't delivering on promised money. big investors hand out billions to start ups every year but women and ethnic minorities are missing out. possuelo rich
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americans don't want to pay high taxes they had south to florida despite the pandemic we'll tell you about the migration that's underway. the warnings about the consequences of climate change are arriving at an alarming pace it's vulnerable countries who will be the most affected despite being the least responsible for climate change and it appears we may have miscalculated the impact researchers at the university of copenhagen say sea levels could rise more than previously estimated it may be just an additional $25.00 centimeters but at 1.35 meters by the end of the century it means we need to cut our emissions by an additional 200000000000 metric tons that's the equivalent of 5 years of global c o 2 emissions just to match the previous target but what does that mean in financial terms if sea levels rose by. 1.8 meters or the height of an average man
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it would cost $27.00 trillion dollars a year by 2100 and right now those costs can be mitigated for a sum of 300000000000 dollars a year but that's a 10 fold increase on estimated funding because rich nations haven't stumped up the cash for vulnerable nations to build resilience like early warning systems for storms or regrowing coastal mangroves to protect against storm surge and one place under threat from rising sea levels is the city of st louis and senegal france and the world bank have donated more than $40000000.00 to help people living in the unesco world heritage sites adapt to climate change nicholas hock is in st louis senegal. an unexpected tide to swept away xena who calls home with it a lifetime of memories remember she says to her son at emma how in a matter of hours our living room where you used to watch t.v. kitchen and your bedroom were wiped away by the ocean's currents you now live on
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the outskirts of the city with thousands of others displaced a new life the city council told them to adapt to a sound but being forced to live a difficult life here this was supposed to be temporary and we're living here now for 2 years there's no food no help and no sign from authorities anything will change they won't be able to return home. to save what is left of what used to be the capital of the colonial era french west africa france and the world bank have raised $40000000.00 for what they call climate adaptation the funds have so far been used to buy more tense educate displaced children in construct new embankments but when the tide recedes the oceans destruction appears entire neighborhoods of a historic unesco world heritage site are swallowed into the atlantic in 2006 the city cut a 3 metre breach in an embankment thinking it would empty out the water instead it allowed more of it in with the breach growing to 8 kilometers longer making matters worse you sound formation has made it dangerous for fishermen to navigate. from
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the moment but it's a catastrophe more than 500 fishermen have drowned because of the breach people are desperate now that's why so many young people are leaving sunway to try to get to europe. more than 20000 people made it to spain's canary islands last year many from sandy as a result the spanish coast guards can now be seen patrolling some of the shores. first spain protecting europe from a wave of illegal migration starts here but there is no protection against the rising oceans for this and they believe living here and wild rich polluting countries for countries to adapt to a changing climate people here say the damage is done it's too late woman to get the indignity in the camp an elder takes in a blue son adam aside you have nothing to lose he explains showing him a picture of a young man who is now in madrid with so much loss adapting to
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a changing climate means letting her son go and braved the ocean's tide in search of a safe place to live because hawk al-jazeera. senegal. and joining me to discuss rising seas levels and how we measure and account for economic growth we have 2 experts on the subject from london is university of cambridge professor surprise. he is the author of the u.k. government's independent review on the economics of biodiversity and from copenhagen denmark is asked like grinstead who's an associate professor of physics advised climate and earth welcome to you both thanks very much for joining us on counting the costs for me start with you if you believe that seas are rising faster and higher than previously estimated why is that and put that into context for us and tell us what that means might be beer looked at the data from from $850.00 and or watch and then we can see the sea level rising at their rising faster and then
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they don't that observations of all. and b.p. can from that we can see the that you can extract how sensitive how strongly the sea levels respond to to a warming and then become pad that that's just like the get out simply like how much faster the sea level rise many people on earth by one degree and you can compare that to what we see and in the models that are used to project sea level and we see that they're inconsistent the sensitivity is and that is what leads us to conclude that that the models they're simply not sensitive enough and therefore i expect that sea level should the projections actually should be high right surprise us so are we adequately capturing the economic impact from climate change no not one bit but we have far far far from it because the treatment of the biosphere. includes the effects that are active at these have
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our own climate but it includes a lot more biodiversity loss itself the loss of life nice in the most general sense because it is the diversity of life and we are really eating into it so then with changing the way we measure economic growth help to redress the balance between nature and quote unquote the exploitation that's going on off the earth's resources that's exactly right we have to change it in a big way moving away from g.d.p. which is a measure that doesn't talk does not account for the depreciation or degradation or mother nature that has to be included we ought to be measuring stocks you know other words the the wealth we have which includes nature and movements in wealth will pick up the big relation of capital natural capital nature
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biosphere i'm using these terms interchangeably. so we really have to make it credible just meant to go we assess what we're doing and then of course have policies which will go in line with your vised assessment as lack you were mentioning researcher moments ago let me put this to you because there is some research that came out of the university of leeds and it claims that 28 tons of ice trillion tons of ice that is was lost between 19042017 that's in fact equivalent to a sheet of ice 100 meters thick covering the entire of the u.k. so let me ask you this how do we mitigate for such rises in sea levels and in your opinion is it too late if it is too late like i mean it is. basically committed to a sea level rise and it's it's the question of which path which a is just
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a question of how fast the sea levels will rise it millet militarize and be just have to adapt to it it is obviously going to be much more difficult to adapt to a fast sea level rise. and i mean if we if we follow the worst case. scenarios then then b.h.p. also risking treating some some some collapses of the ice sheets that will be extremely difficult to handle for society rates how do we actually adapt to it though. that that's a difficult from it's it depends on where you are exactly which coastline you are but it is like you cannot stop the seas from rising so. and and the indus short term then of course you can you can protect yourself with physical farias so something like this. bitch but but in the long term i think that it really is such a big sea level rise that that retreat and that is in many places the only
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option in many places the only option that we simply have to remove away from the the coasts right and for profit or moments ago you were saying that almost all governments are exasperating the biodiversity crisis and by paying people more to exploit nature than to protect it so can you actually put a number on that for me and tell me as a time for governments to cut off subsidies well the review estimates office estimates of the global subsidies to nature of the use of nature are the order of $4.00 to $6.00 trillion u.s. dollars per year so that's about low verb 5 percent of global g.d.p. that's a huge amount of subsidy in other words we're paying ourselves to diminish nature. were over you have these large large bodies of not nature
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which we call biomes like the. tropical rain forest which are public goods in the sense that they serve humanity in many many ways throughout. although they're located to clear national geographic jurisdictions they are serving everybody then there of course there are the open oceans beyond the exclusive economic zones large swaths of bio in which. there is living matter and huge numbers of processes undertaking which are being undertaken which are which influence our lives now as the oceans were dead then we would all be dead and yet we use the oceans as a free good we don't pay for the journeys we make the transportation the cruises. in other words pay ourselves because of course nature doesn't offer us a bill submit a bill to us as we're using so we have to create the bills for us our internal
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auditing if you like so that they become more expensive than the negative price but positive price limits are used to reshape our lives in a way that contains the biosphere so that we keep it contained us why do you think rich nations are not delivering on promises to provide low income nations and most importantly nations that have nothing to do with the 02 emissions with money to mitigate against rising sea level i think in some deep sense we are not alert to the damage we are doing to the biosphere is a very elusive subject climate's has caught the imagination because it has some visible impacts the changes in climate have busy will impact extreme weather events drought 6 extended droughts and so forth hurricanes and thus these are predicted climate scientists are pretty good they predicted that they will have greater frequency we'll just that problem with diversity loss which is
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a deeper problem because the boss fear it and its most general is actually keeping their entire fabric of our lives. alive so to speak we are able to maintain ourselves we've enjoyed a rather equitable. background in which to evolve and with bio diversity is diminished much of it may contact any observer so much oh by the of us if he's in the soils for example in the peach lands now you don't observe that they are an observable right much of nature is silent also so appreciating that requires a certain amount of inquisitiveness enquiring mind and we have not been trained for that ok thank you so much sir partha does couped offer joining us in london and i thank you so much for speaking to us from copenhagen but as welcome.
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as california and new york continue their fight against the coronavirus pandemic a dramatic migration is underway wall street firms tech companies on the wealthy are leaving in huge numbers driven out by high taxes strict code restrictions and the new normal of remote working assists a sunnier climates is underway as gallagher reports from miami. tearing down the old to make way for the new miami's construction boom was already well underway before code 19 hit now it's ramping up as businesses keen to escape high taxes cramped cities and expensive real estate look for new opportunities this whole area of when where it is going to be the new. construction for miami across miami spaces of being snapped up faster than they can be built it's all part of a potentially seismic shift as money moves away from states like new york and
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california that have been decimated by coke at 19 i would say utter wild west it's completely $180.00 from what it was about a year ago when. all of a sudden you have every tech firm every major hospitality firm every restaurant group all coming and not just miami of south florida we're seeing a huge increase in numbers and for order del del ray boca raton palm beach no inventory it's a mass migration city officials a keen to embrace the is that been trying to convince businesses that florida has more than just beaches and sunshine one of the most vocal proponents of making the move is miami's mayor francis suarez who's promoting the city in more expensive states like california i think if we're able to continue to capitalize on this moment and truly converted into a movement where things tectonically shift i think miami could catapult very quickly to being one of the most important cities on the planet the exodus includes
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tech companies from silicon valley as california continues to fight covert and wall street firms ready to embrace remote working in take advantage of florida's lower taxes it's not just miami skyline where you can see the changes here on the waterways of miami beach there's so much more traffic the people that can own or rent boats the local residents are complaining it was so. much wealth and power moving to the city what about miami's low income communities affordable housing has been a long term issue here but prices a shop lee rising across the city much of the state is driven by low wage service industry jobs already hit hard by the pandemic something out of a kits for cheaper housing say needs to be taken into account we have over ringback and over and over need in the state of not factoring in who lives here now how can we improve the lives of people who live here now instead of driving and asked and
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so this is you know we've made that mistake many times enough to learn that us threats and has to be part of the deal and so as we look to redevelop for example publicly on land rights you you know create more units of housing right it's got to be built in and we need housing that is resident more affordable level the rapid growth in investment here seem set to continue for some time the state's less stringent approach to tackling the pandemic and keeping businesses open is also attracting new residents in stark contrast cities like new york and los angeles experienced long shut downs something that many business owners push back against miami's mess says all those factors make this city attractive and will benefit new arrivals and those already here and what some content to provision others call economic opportunity and the ability for upward mobility so it's really hard to talk about income inequality and talk about poverty to create opportunities if you
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don't create high paying jobs and obviously there's a 2nd piece to it which is making sure that there's an educational system in place that allows people to be successful and that's something that we're going to continue to work on to make sure that we're on the cutting edge of that as well the pandemic has changed the lives of millions the way we work and where we live what miami becomes in the years ahead is anyone's guess who benefits and who's left behind maybe more consequential. and gallagher ending that report there now the pandemic has exposed the gap in societies with low income workers disproportionately losing their jobs or lives the u.k.'s trade union congress says the pandemic has held up a mirror to the structural racism in the labor market where the unemployment rate among black asian and minority ethnic groups rose to 9 and a half percent by the end of last year that's compared to 4 and a half percent for white workers but there has also been structural problems when women and ethnic minorities try to access money the rise of the black lives matter
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movement has increased scrutiny on wall street silicon valley and london's financial censor with many banks pledging to do more to increase representation now according to reuters black founders of companies received just over 3 percent of the $148000000000.00 given out in the u.s. venture capital in 2020 well joining me now from london is angelica brusca angelica's the chief operating officer at s.f.c. capital thanks very much for your time on counting the costs as i was just saying the venture capital industry doesn't really have a healthy relationship with diversity why is that. yes you are right the recent b.b.c. you know you've explored on the very city an inclusion tells us that less than one percent of u.k. venture funding goes so all female pins at only 13 percent of senior people on u.k. investment schemes are women and almost health of investment schemes have no woman at all. even if it were to come 2019 says that only 17
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percent of approved individuals where females but it's a very complex issue and the industry started to pay more attention to this problem and the reality is that we are still learning and trying to understand as real issues yes the street has to do more has to pay more attention has to bias we has to be. more open for they very city at that they're older problems that are aligned outside of the industry and they're relate the culture to education to the way even how else and its members off. the minority are they that that up have my own you say just on their education and career right so practically then what is needed to push the boundaries and diversity in top jobs for example doesn't start with education training or
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regulation or something else and everything i would say we need collaboration from many actors not just not just decision makers have been in that industry and so to give you some examples woman engine using society part of that in 2018 only 12.37 percent of engineers where women interestingly they also reported that 25 percent and all girls 16 to 18 years old can see let's go see their community in engineering compare. to 50 almost 52 percent of loyce last. week were tips that between 2 cousins 18 and 19 on the one to 3 percent of work force where were all email and 16.4 females in tech jobs so you know it's not just a problem of financial industry and venture capital and it's some of those sorts of
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issues are much deeper and it's you know that's to us how we race goals just think of the 1st ploy that a little girl would be given to problem your goal and avoid for him will give him a year of sucrose here or a toy car that's tells us we're going so i think that there's a lot that has to be down there and we need more system explore conduct child care because. in terms of child care the workload is much bigger on mothers and fathers and so in this way you will equal opportunities before a new generation corms to the markets to the job market they're sending money money needs to change doesn't it because existing pools of money are mostly from very rich white men so how do you democrats eyes that. well that's a very good question and i think that there's not one solution for that it's
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something that will be changing over generations. and we see already that change we see a lot of successful businesswoman out there at even in my case when i was starting my career i was looking up to where i meet and if you know dragon's den or if you know business in the u.k. she's a very successful woman at and she was very helpful to raise the awareness that few know can be the most can be successful even different roles. but democratizing this space is not going to be easy and as i said it acquires a lot of different activist acts to get there and just let me ask you about your own experience since you brought it up i mean you yourself are in a pretty powerful position so was a difficult for you to get there and also when you see women like jane fraser who's the new c.e.o. city the 1st woman to take the top job at one of wall street's 4 biggest banks are
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you hopeful for the future yes i am in terms of my journey. i came where i am through entrepreneurship and my business interests as i said i was looking at a successful woman like that around me then and i wanted to be like her 2nd to along with my own project i started to network to meet people and it's always a combination off a lot of hard lorcan delete will be. so my journey. had to turn when i met stephen page the. founder of a sissy copied and that was a new project for him as well he invited me to join and i decided to jump onto the lot air and i believe the business i am where i am because i stick to the business are i will working on setting up the staff. couldn't that team and we had to be more competitive than that turned on anyone else at the time and i
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think that it is important to get. to success full of business women like jane fraser like that where i meet like i listen the roles bear arms and but not because they are women but because they are looking like they are doing the are better than all their male and female and we need to show got it is a viable option floor our younger generation and to take up bras that we thank you so much for speaking to us very inspiring thank you so much thank you for having me . and that's our so for this week but there's more for you online at al-jazeera dot com plus city scene in battle take you straight to our pay to us has an entire episode for you to catch up on i'm dead and i'm ok don from the whole team thanks for joining us the news on al-jazeera is next.
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it's been 10 years since the most powerful earthquake ever recorded in japan caused a massive tsunami taking 18000 lives and igniting the world's worst nuclear crisis since the chernobyl disaster join us as we revisit those most affected in a series of reports on al-jazeera. what should americans be thinking and doing right now it should be about ideas they don't care about their work is all they care about is making money china is not going to be left out of the calling for the devoted defense budget to be cut the bottom line on u.s. politics and policies america fact of the world. too often on the streets of india really are victims but a new force is that plain. female police officers are combat sexual assault and domestic abuse. but changing society is
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a challenge and so is life behind the badge for india's lady. understand the differences and similarities of cultures across the wound is another matter when you go home with the news and current affairs that matter to you. this is al-jazeera. hello i'm adrian for them this is the live from doha coming up in the next 60 minutes pope francis encourages peace and unity between faiths in the middle east during a visit to an ancient religious site in iraq. more protests but in some places militias are joining the fight for democracy. police
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and salad all fired tear gas at supporters of a jailed opposition leader will be live in dhaka. and later we'll have an update on the masses.


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