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tv   Counting the Cost  Al Jazeera  April 6, 2021 8:30am-9:01am +03

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we defeated the enemy at. around 75000 people used to live in palmer most escaped the attack around 2000 displaced people made it to the city of pemba but the influx is putting pressure on local services and families peter angry took in 7 relatives and is now struggling to make ends meet. it's a big sacrifice i used to buy one sack of rice which was enough for all of us but now i have to buy 23 sex because we have so many people to feed food is expensive much more expensive with all these refugees the u.n. says more than 20000 people stayed in palm a despite the attack it's hoped as he left will be able to return home soon victoria gates and be al jazeera. your child is there with me so rob a reminder of our top news stories a u.s. police chief has testified against one of his former offices he's accused of
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murdering george floyd's he told the jury in minneapolis that derek broke rules on respecting the sanctity of law yes it is my firm belief that the one singular incident we will be judged forever on will be our use of force and so while it is absolutely imperative their officers go home at the end of their shift we want to ensure and ensure that our community members go home to and so sanctity of life is happily vital that that is the pillar for use of force we are oftentimes going to be the 1st ones to respond to someone who needs medical attention and and so we absolutely have a a duty to render that aid. jordan's royal courts prince sums up in his signed a letter pledging his allegiance to the king jordan's government to accuse the former crown prince of trying to destabilize the country. 30 is underway on the biggest day of india's state assembly elections being seen as
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a measure of support for the party of prime minister narendra modi after a turbulent year. the death toll from flash floods and landslides in indonesia in east timor has risen to at least 155 with dozens more missing rescuers are calling for more heavy equipment to help reach isolated communities he zealand and australia have agreed to create a quarantine free travel bubble on the 19th of april people will be able to travel freely between the 2 countries australia and new zealand have been praised for quickly controlling outbreaks with strict measures high level talks about reviving the 2015 iran nuclear deal will begin in australia in the coming hours representatives from the u.s. china germany russia you can france and iran are gathering in vienna and you can follow those stories on our web site at al-jazeera dot com it's updated through the day i'll have more news for you in the half an hour next on al-jazeera it's counting the costs to stay with us. the launch of one of the i overindulged. but my
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sister saved me. a lot of my life she shared with my family. the reality of addiction in the arab wild and the struggle of recovery. or just me. out to see our wells goes inside a rehab clinic in the nile downtown. rehab egypt edge of addiction on al-jazeera. hello i'm sam is a band this is counting the cost on al-jazeera your look at the world of business and economics this week have the bankers finally had enough of brazil's president also narrows handling of the pandemic cripples the economic recovery. green nature how the world plans to use financial instruments to reduce carbon emissions
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. and have batteries for world travel europe's auto industry attempts to stay relevant. as the death toll from the pandemic inch towards 300000 present jailable so narrow told brazilians to stop whining and move on his tone towards the pandemic has been dismissive since the outbreak with brazil recording the 2nd highest death toll after the united states ever the populist and with criticism of bankers and billionaires ringing in his ears also narrow appeared to be more conciliatory pledging to speed up vaccinations or a tall order for a country that has failed to buy vaccines in significant numbers criticized supply china and is only managed to vaccinate 6 percent of the population with the health system a breaking point and on its 4th health ministers since the crisis began the prognosis for the economy looks bleak brazil's economy has contracted 4 point one percent in
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2020 the most since $990.00 in the final 3 months of 2020 the economy grew though 3.2 percent that was thanks to a $56000000000.00 cash transfer to millions of poor families that sent debt hurtling towards 90 percent of g.d.p. though and that only looks likely to rise. having failed to prepare for the 2nd wave it's paying out billions more the currency near record lows last month at cent inflation to a 4 year high the central bank has been forced to raise interest rates to 2.75 percent from 2 percent. economists predict interest rates may rise rapidly to 5 percent by the end of this year with the economy predicted to underperform ex-president lou the silver cleared of corruption also now rosana
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a lot of pressure is more ministers quit or a fired. reports from rio de janeiro. is brazil school the death toll keeps growing women across brazil have joined hands when broidery their grief and the names of all those who died from corbett 19 this bright note in those matters remember this panel has 2 and a half meters per presents only 0 point one percent of the number of victims we would need $1000.00 panels like this one for all the victims that's another 2 and a half kilometers of. pressure against presidential aide will so narrow has been mounting as infections and death continue to spiral out of control brazil's bar association has asked the attorney general to charge president. with criminally mishandling the pandemic $500.00 bankers economists and business men wrote a letter asking the government to stop boycotting measures aimed at controlling the
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new wave of infections and to start heaving to the advice of doctors and scientists . also never went on television to say he was in favor of the vaccines he had criticised in the past and was slow to start fine rob brazil his words were greeted with hot banging protests with next year's presidential election in mind also narrow met wednesday with representatives from congress in the supreme court one year after couvade 19 struck brazil the government has finally announced a committee to deal with the pandemic on a national level. meanwhile in this square 19 year old in weezer castro embroidered the names of her daughter in law and a friend she says she can deal with the sorrow but not with the anguish of watching nothing being done. to fix it and everybody silent was president j. boss and out of scorns the virus the masks and the vaccine even the church which
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threw up against of the day the ship is holding its tongue i'm feeling very anguished knowing i have nobody to turn to she decided to write a letter to the pope but while waiting for an answer to her prayers in luisa and her friends will continue using their needle and thread to keep alive the memory of brazil's 300000 dead monica inaccurate i'll just sirrah we are designer. so balsa naro facing possible criminal charges for his handling of the crisis let's get some analysis now with jaya lugo cando director of executive and graduate education at northwestern university in cars and good to have you with us so is this basically 1st of all a situation where we see the president the government changing its sort of nonchalant approach to the pandemic in the health crisis because of pressure from the business community yes there is fundamental changes in the in the least in the
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way that the government of brazil. is handling this situation but how wanting to mean that the value of the changing not because of what the actual health crisis is shaping up to be but because of pressure from money well you know it's not right wing government after all it does have a constituency in the big business corporations and also also the right and that's what they you know that's their constituencies. and until now they concede at the beginning of the crisis was more concerned with the economy keep going down with the and then it could shelf and now has to change and therefore the government also just changes its approach so the change indicates no doubt some damage serious damage is going on to the economy can you estimate that for us well actually i mean obviously the plant them big ass have a huge impact particularly among the poorest and according to all the international
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organizations that money to poverty inequality in brazil there's been a huge setback for very vulnerable segments of the public how the economy as such has surprisingly show itself much more resilient i mean in the last quarter of last year and despite some very negative predictions the economy actually bonds back and it's still growing and started to grow. the last quarter that we account for in brazil is to be point one in growth and that's after a huge fall last year but still and one of the main difference that the government of also not one has made is that it injected a lot of cash into the economy through cash handouts to the poorest 56 this 1000000000 is basically what's kept growth going the 36000000000 handed to the poorest families right absolutely absolutely but we have to be very clear in this
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because it's it's we need to pass judgment in this in a way that really reflects what's happening don't remember that exports and imports in brazil i mean foreign trade only accounts for less than 30 percent of their whole g.d.p. most of the d.p. is produced within the economy of the country so by injecting money into the economy what pulls or not isn't a station has managed to do is to reactivate the economy in the worst pretty the possible now if you compare that to for example mexico that did not do that and saw its g.d.p. shrunk even further than brazil then you can see that at least that in that type of policy also not one has got it right i mean as many of you know he hasn't tossed to the poorest right you can say for whatever one would criticism criticize him for for his approach nonchalant approach the plan that he has. absolutely i'm not going to judge his intention i don't know you know we i'm not going to do it she didn't want to judge what he actually did which is to inject money into the hands of the
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poorest is you know this is something that the left propose in the united states in europe to do the. you know get me corman propose exactly this type of policy 2 years ago and this is now being done by a right wing president not bill so not a strange character he doesn't really fit into this i think of he's very right wing in terms of values and joseph approach it defeats close in as the military but in terms of economics he's shown to be a very pragmatic guy more against in the approach to the economy and you know we see our growth in the industry there's you know over 200000 new employments been created in brazil in this year which is amazing considering how bad the situation over it was managed in how how hard was brazil hit by this but we have actually net growth in the employment exports are also in certain areas and
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going up but. and that is a good sign but also not all still faces the biggest challenge of all which is the debt this service of the debt which now is almost 91 percent of the u.p. which is very worrying for maint many analysts and this is something that he inherited from he's put this answers but he has not fixed that problem actually has gotten much worse since you mentioned the debt let me jump in his to ask the question will international investors maintain an appetite to hold on to that as long as both are now or is in power and as you said we've called it at 90 percent of g.d.p. yeah i mean i get this is a program the for all the 4 rules and not all or for anybody who is in power in the next few years but a seal has accumulated. amount of will in my opinion and that's something that he has some this dead responsibility structural issues. and also when you say there
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unmanageable what does that mean for the 20 percent of that that needs refinancing this year well that that he will have to make a really strong hard case to the to dip terrorists who will keep at least the current ratings of the country to keep the interest rate on that at least has he made that case do you think i i mean he's in the economy again is is recovering he's growing the team he has in place it seems to know what they're doing and all the sinaloa is that but it doesn't only depend on him the political the polls in this are this shows that he's popularity is it decline and that the party you know of the last hour or 2 the 2 candidates would win an election to the 8 if the election were today don't mention will team that you mentioned their defense minister was 53 armed forces chiefs of resigned foreign minister resigned i mean
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when you talk about the team is the team ready there how crippling is this football sanaa politically as well as economically. then pursers care about the economic team and that it continues to be in place that have not been so far he's so far been careful not to meddle in that area and he's apparently listening while they're saying it's been an absolutely fascinating chant thank you so much thank you. vaccines provide a route out of the pandemic governments akin to bankroll the recovery through green sustainable eco bonds these greener bonds accomplish a number of goals from supporting new jobs to cutting emissions last year governments and businesses raise $490000000000.00 from green social and sustainable bonds that's going to rise to 650000000000 this year now that sounds like a lot of money but it's
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a drop in the ocean when you consider the bond market is worth $260.00 trillion dollars as the world transitions to net 0 carbon emissions 20 trillion dollars in assets like oil energy and mining could become worthless that poses a huge financial risk for the global economy at the same time environmentalist say central banks should stop buying bonds of polluters the european central bank has hovered up 20 percent of green debt as part of its bond buying program now governments are also considering a new mechanism for rewilding with nature bonds failed enable governments to restore vast tracts of land back to nature they could be useful for projects like this argentina's iberia wetlands are one of the most biodiverse regions in the world but they've been severely impacted by industrial farming conservation groups are now working to reverse that damage to raise about reports from my beer a national park in korean to us. here it means in the local
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indigenous white any language water that chimes and here in the province of korean this in northeastern argentina there is plenty of it but in the past few decades the wild life in the event and national park that covers more than a 1000000 hectares of land began disappearing because of human activity. and that's what people like my long trying to change all of us of a condoleezza that i mean that we are working to do you wild argentina this means to be introducing crucial species that disappeared from the ecosystem in this case we are working with the jaguars the main objective is to generate a sustainable population. at least jaguars now will and dioceses are kept here so their cubs can one day repopulate the area jaguars are seen as
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a threat to agricultural settlements in the area and that's why their numbers have plummeted and this past years in fact in the province of korea because they have been extend for over 70 years now and that's why projects like this one are crucial to reintroduce this kind of species into the eco system because of a little but there are 7 other jaguars who have almost no contact with the humans and i ready to be released they are kept in 30 hector corel's it's extremely difficult to see them but using our stay one of them might be what needed a g.p.s. collar changed. he's. going to be said free this is likely the last contact we will have with her so we are digging all the possible samples that she's and then bio meant in the area. the project is part of rewilding argentina more than 20 years ago american philanthropist douglas
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tompkins and his wife kristen began buying up land in argentina and chile to protected and then donated to a national park 3rd world in argentina has now given thousands of hectares of land to at least 6 national parks and would rather not have beena. it's very strange in argentina that a private owner donates to the state but when we do it all the prejudices scramble we start to see the projects because the animals start to appear like the giant and cheetah the pampas deer the tourists start to come and the communities get involved this is a model of producing nature because it leaves resources to communities it's an economic alternative. argentina has tough economic problems to deal with and that's not being helped by the coronavirus pandemic which is why preserving nature is a major challenge but it's not just about protecting the wildlife it's the wildlife
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that would generate alternative work opportunities that would convince locals to protect their natural wealth they already have. already in this argentina. and joining me now from london via skype is professor nick robins neck is professor in practice of sustainable finance at the london school of economics grantham research institute on climate change and the environment good to have you with us so we hear a lot about how that 0 is going to lead to a lot of job creation are those predictions accurate i think that's right i mean that the shift in those areas are seen sensual from a climate perspective but also it is a huge driver of economic opportunity the estimates suggest there are about 60000000 people for example in the energy sector in the moment in a sort of net 0 scenario this could rise to about 100000000 582050 this is about 15
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percent more than these are current high carbon models so yes a shift to net 0 is going to lead to more jobs the crucial is your proceeds to sure these are good jobs as well but these are good jobs with good conditions and so on and i think a big priority that we see in the new plans to climate plans from u.s. president biden right center bankers such as christine lagarde head of the c.v.s. saying they're putting green concerns at the top of the agenda how quick are slow central banks to respond well i think it's really one of the most remarkable shifts in the financial sense system the what was central banks doing if we look back to 5 years ago when the paris agreement of climate was signed hardly any central banks are really considering climate change is a key factor in terms of financial stability and risk we now have nearly 90 central banks and supervisors who are signed up to the network for greening the financial system this includes the people's bank of china includes the bank of england the
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bond of france the central banks of brazil's in the pool and of course now the u.s. u.s. fed and all of them are saying tackling the risks of climate change is at the core of our mandates and our mandates to look after and make sure that the financial system it is is secure and safe and sound. so that is a that is a remarkable shift and what we're seeing i think is we're perhaps entering a new phase we've discussed sort of net 0 already but i think we're seeing the the need for central banks to really make a more explicit a commitment to how they're going to support the financial system to achieve net 0 so the 1st reason is obviously and that's their economies going to be much the best outcome for central banks as they try and deliver financial stability cool cool goals would have less destruction in terms of climate shocks and so on but the 2nd is many many central banks also have a sort of secondary mandate to support the economic policies of their governments
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and now that we have over $120.00 governments with nets there are plans if follows the central bank should be thinking about how they can compliment the activities of governments in the work that they are steering and supervising the financial system and we're seeing really some of the 1st signs of this sort of net 0 central banking starting to come through in the last few months so it sounds like listening to what you're saying that there really is a chance of a new phase as you put it or a new era does there have serious risks of stranded assets though as we move towards that 0 what consent for banks do to protect sort of financial stability. well i think i think that's right i mean a think since in the last decade the organization contract a sort of ready put the stranded assets is your only agenda as we go through most any transition and this is a climate driven transition assets that we previously thought were valuable no longer become valuable and as you've seen through kind of it in many sense the
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credit crisis has accelerated some of the trends we see 70 to friends towards electric vehicles to transport renewables and also the recognition that the economy is really one of the great opportunities as we come out of this crisis so yes social banks and supervisors many of them are now actually introduce him stress tests for the companies that they regulate in the systems they have to see and that's important to really get information about how banks and insurance and pension funds opposition in alternative scenarios in terms of scenarios of a destructive transition in terms of ones where we have on mitigating climate change huge amounts of physical shocks so this is really important and and this is also being being being austral by by by investors i think a complement of that is also for central banks and supervises. to really follow up
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from these stress tests to require the financial institutions they regulate to introduce net 0 transition plans is one thing to assess the risk then you actually need to take action on the basis of this so i think we're again seeing increasing interest in actually the role of central banks and supervises requiring the banks and investor investment and sushi's they regulate to come forward with these net 0 transition plans not least to ensure that we have consistency and credibility in these plans across the markets i think there are beginnings of fish maybe a risk of of green washing in some of these a net 0 statements that are being made causing great healthy thanks so much for your thoughts. well thank you so much and demand for electric vehicles is booming worldwide with governments in europe making plans to phase out fuel burning cars but the continent risks falling behind in the race to build the vehicles if the allows asia to dominate the battery development sector paul reste reports from god
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from bergen sweden. further faster cheaper and greener demand for electric cars is rising and so are the demands placed on the the swedish chinese pollstar to is one of the latest vehicles trying to tempt drivers away from petrol diesel why is this a psychic term for the electric cars because it's finally happening because finally not nice anymore but other aspect whole can you still at all think that the combustion engine oriented car has a future proof business pole star is a joint european asian vehicle made by volvo and their chinese owners but the emerging electric industry is about intense intercontinental competition as well as collaboration. cars like this are developing extremely rapidly as engineers try to match the speed and range of petrol driven very coals and whoever makes the biggest leap forward now is likely to win the race to dominate the transport industry of
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the future. in europe that race is being run from here the laboratory in uppsala north of stockholm because when it comes to electric cars the advantage is all about the battery like this the lab is the standard bearer for the battery 2030 plus project the consonance bit to take back some of asia's dominance in the development and sale of electric batteries the europe wide group is led by chemistry professor christina edstrom we need to be finding a new materials a new battery cause to help europe in the hard competition in asia they're good in asia they're doing new existing batteries if we want to have industry in europe we need to catch up. there's a lot of catching up to do you factories for the current generation of lithium ion batteries are being built in sweden and germany but europe makes just 3 percent of car batteries globally while asia led by china japan and south korea produces 85
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percent to change that europe needs to find a battery that provides greater mileage charges faster underlies less on the damaging effect of mining from mineral such as cobalt the problem with the fact is today they don't hold enough energy in their container we want to make it back to something future and we need to understand what's going on really are the fundamental to mystic level that could be the ace up europe sleeve the world's most powerful neutron source a kind of x. ray for atoms is also nearing completion in sweden in time to join the hunt for a new car battery a breakthrough will be needed to stop asia putting the rest of the world in its rear view mirror for good paul reese al-jazeera gothenburg sweden. and that's our show for this week but there's more for you on line of al-jazeera dot com slash t.t.c. that'll take you straight to our page which has an entire episode for you to catch
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up on. i'm sam is a band from the whole team on counting the cost thanks for joining us the news of al-jazeera is next. capturing a moment in time snapshots of other lives other stories provided a glimpse into someone else's wow i am the voice we are the voice witnesses on al-jazeera. a footballer from spain traded battling opponents on the page for fighting fascism at home and abroad. footballing legend at accountant introduces up the nino in the bottle. a warning it could be used his beloved game to help himself and others survive the horrors of the nazi concentration camp. football rebels on al-jazeera.
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al-jazeera is newsnight on the biggest stories of the week delivered to your inbox . analysis and opinions that have to well. subscribe if the conversation. your child is there with means the whole robin in doha a reminder of our top news stories in a movie us police chief has testified that the officer accused of murdering george floyd broke rules on respecting the sanctity of life he says trayvon acted in a way that was against police training by nailing mr floyd's neck for more than 90 minutes on the streets of minneapolis ellen fisher has more from the trial. an important cultural moment when a police chief took the stand to testify against why.


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