Global News Of Note: UN Wants Bolder Action On Global Warming And China Imports More Aluminum From Russia
What happens abroad impacts MSCI members in North America. Here is the latest economic, trade, and other policy news of note for the last week:
- As The Associated Press reported, United Nations Secretary-General Antonio Guterres last week asked wealthier countries and developing nations to reach net-zero emissions by 2040 and 2050, respectively, a decade earlier than most targets. Guterres’ remarks came after the latest Intergovernmental Panel on Climate Change report, which showed that in order to stay under the 1.5 degrees Celsius target set as part of the Paris Agreement, the world would need to aim to slash 60 percent of its greenhouse gas emissions by 2035 compared to 2019.
- China’s aluminum imports from Russia more than tripled in the first two months of 2023. Specifically, imports rose 266.2 percent due to the fact that buyers eyed rising Chinese demand and Western firms have shied away from trading Russian metals. Total imports from Russia into China were 105,300 tons for January and February combined, up from 28,759 tons the same period a year ago. Read more here.