What if there was a way to invest money and change the world? The global green bond market may be the answer.
The potential of these bonds to facilitate global change is irrefutable. Green bonds are similar to other fixed-income instruments in their financial attractiveness but they are unique in their ability to provide a positive social and environmental impact.
The capital raised is dedicated to programs that benefit the environment and encourage more prosperity within nations, such as delivering clean water, promoting renewable energy sources and increasing efficiency.
Developed and developing countries alike face rising financial challenges from changing climate conditions and environmental hardships, but often it’s the poorest nations that suffer most. The green bond market finances many life-changing development strategies that support sustainable development, focusing on poverty reduction and inclusive growth. They are innovative financial tools to finance railways, roads, airports, buildings and energy and water infrastructures, while simultaneously achieving positive returns for the environment and society.
The green bond market has seen explosive growth and increased attention from investors in recent years. Launched by multilateral institutions less than a decade ago, green bonds have seen a 38 percent increase in the first half of 2017 compared to the year prior.
The Climate Bond Initiative, an international nonprofit focused on this niche, estimates that the total amount of green bonds issued in 2017 could reach upwards of $150 billion; this is a monumental increase from the $3 billion worth of green bonds that were issued in 2012.
This surge in interest can be explained by an increased desire by consumers to invest in an impact-driven market; this has caused a record number of public and private entities to join or issue green bonds.
The number, and nature, of the financial players involved in the green bond market have also contributed to the rapid growth. Development banks, such as the World Bank and the European Investment Bank, large corporations, including Apple and Intesa and sovereign states, like Poland and France, have all emerged in the green bond market.
Individual projects by each green bond issuer carry great reach. Just one project by the World Bank to improve sustainable water management in Brazil benefits 2.6 million people and provides 164,000 people with improved sanitation, enhancing the overall quality of life.
The interest that the green bond market has sparked is helping to change how investors think about their investments and how issuers think about the projects that they finance. So long as investors continue to ask questions about the expected social and environmental impacts of their investments, green bonds will continue to build a meaningful new capital market, providing financial support for environmental and sustainability initiatives around the world.
– Jamie Enright
Photo: Flickr
The Putting Children First Conference: Fighting Child Poverty
Africa currently faces extreme poverty. It is estimated that 233 million people in sub-Saharan Africa where undernourished in 2014 to 2016. Forty-seven percent of the population in Africa is living on less than $1.90 a day, which is the current global poverty line.
Organizations around the world recognize the issue of child poverty. As such, the Putting Children First Conference was held and attended by End Child Poverty, The Impact Initiative, U.K. Aid, the Comparative Research Programme on Poverty (CROP), the Economic and Social Research Council, the Ethiopian Research Development Institute, the United Nations and Ethiopia Ministry of Women and Children Affairs.
The objectives of the conference included:
The speakers at the event included Demitu Hambisa (Minister of the Ministry of Women and Children Affairs), Leila Pakkala (Regional Director for Eastern and Southern Africa-UNICEF), Agnes Akosua Aidoo (International Board of Trustees-ACPF), and Jane Kabubo-Mariara (Executive Director-PEP) among others.
The conference resulted in a call to action written collaboratively by the people in attendance. The call to action states six steps that should be taken to benefit children who are the most likely to be living in extreme poverty.
The Six Steps to Eradicate Extreme Child Poverty
This conference allowed people to network and take steps towards creating a better world for children living in poverty.
– Téa Franco
Photo: Google
Water Quality in Tanzania: An Ongoing Battle
In 1971, the Tanzanian government established a Rural Water Supply Program in response to a desperate need for water in the poorest areas of the country. However, it was largely unsuccessful. The program was followed by the implementation of the National Water Policy in 1991, which also proved to be ineffective.
By 2003, the World Bank intervened in Tanzania’s national water crisis, threatening to take away funding and aid if the country did not privatize its water sources. Unfortunately, this only worsened the country’s water crisis. Since then, the water quality in Tanzania remains poor despite the government claiming that access to adequate water is a basic human right.
Currently, 23 million people in Tanzania do not have access to clean water. Due to limited access locally, women and children typically spend several hours a day collecting water. Often, women face violence in their attempt to travel long distances to find water.
Several other issues are faced by the local population in relation to water. The low quality of water means that citizens continue to be plagued with waterborne illnesses. Only 15 percent of the population has access to toilets, contributing to health complications and diseases as well.
In spite of this, some policy implementations by the World Bank have proven to be somewhat successful in the last decade. The Water Sector Development Program has connected customers in urban areas to water supplies, built 539 new water points and provided 2.7 million urban residents with clean and safe drinking water by June 2014. Despite this, the most disenfranchised places in the country continue to struggle.
Organizations such as Water Aid are trying to combat the low water quality in Tanzania. Means of doing so include the use of moderately priced technologies that can have sustainable and long-term benefits.
For example, pumps often solve the issue of emptying latrines in slums. Similarly, mapping technology has the ability to record the location and condition of water areas throughout the country.
Water Aid continues to seek improvements to water quality in Tanzania. Currently, the organization is inviting drilling contractors to submit bids for a geophysical survey and drilling works for a Community Supply Scheme in Arusha, Tanzania.
– Melanie Snyder
Photo: Flickr
Water Quality in Namibia: Misled by Bottled ‘Mineral Water’
In some cities, tap water is contaminated; in others, it may be safe to drink. In cities such as Keetmanshoop and Tsumeb, it is said that all water is considered contaminated and that it is recommended to bring all tap water to a rolling boil if you wish to drink, brush your teeth or make ice cubes with it. Otherwise, it is recommended to buy capped bottled water from reputable sellers.
In cities like Swakopmund, Walvis Bay and Windhoek, the water is considered as ‘may be safe to drink’ because the water is chlorinated. This means that locals can drink water from the tap without issue. Despite this, many still choose to avoid the water due to instances of some small strains of local E. coli being present in the water. This bacteria can cause diarrhea to new visitors.
As a result of water contamination, retail chains in Namibia, such as Pick ‘n Pay, Spar and Fruit and Veg, to make significant profits selling bottled water to consumers hesitant to drink the tap water.
However, in some shops, like the Pick n’ Play in Windhoek, tap water is labeled as ‘mineral water’ and sold to the consumers unknowingly. There are very little safety measures in place to protect the consumers from being misled by the retail shops that sell bottled water in Namibia.
While explaining the water quality in Namibia and how tap water is treated in cities, Maximilian Herzog of Omaruru Beverages, a leading bottled water company in the local market, said, “nobody controls water quality at the point of use – the tap at home.” This means that from the treatment point, water can flow kilometers through unclean and old pipelines. Water remains one of the most difficult products to bottle and transport through pipelines due to accidental contamination issues. Furthermore, high chlorine levels and unbalanced mineral contents in tap water lead to unpleasant tastes.
Herzog maintains that it is important that the consumer is clearly informed with appropriate labeling and packaging on what they intend to buy, whether it be mineral water or purified water.
In order for this issue to be addressed, it is imperative for the National Standards Institute (NSI) to create regulations for bottled water sales. This will ensure that consumers are no longer misled or in danger of drinking contaminated tap water. Until then, be aware of the water quality in Namibia.
– Drew Fox
Photo: Flickr
US Helps Fight Food Insecurity in the Central African Republic
It was reported that the 500,000 people being assisted by the World Food Programme will include displaced people, refugees and students. These groups are considered to be the most disadvantaged groups in the country.
The donation will partly help fund meals in schools in order to help students achieve their educational goals more efficiently and effectively. The relationship between academic success and hunger has been widely studied, and it is often reported that students tend to perform worse in school when they are hungry.
For instance, according to the Global Citizen, it is important that students eat healthy meals in order to succeed, because the brain needs energy to understand information and solve problems. Thus, the World Food Programme’s donation to the Central African Republic will help students focus better on their studies in order to learn the skills that are necessary to thrive as adults.
Furthermore, the Central African Republic has experienced a lot of political instability throughout its history. According to the World Food Programme, “the Central African Republic has the second-to-lowest level of human development in the world.” Many of the people that have been displaced throughout the country have been affected by the violence that has been incited by various rebel groups. Furthermore, there are heightened religious tensions between such groups, which has caused approximately 600,000 people to be displaced.
However, the government of the United States is making an important effort to assist the most disadvantaged groups through the World Food Programme so that food insecurity in the Central African Republic will be addressed and solved. Then, perhaps, other issues can be solved, too.
– Emily Santora
Photo: Flickr
Counteracting Hunger in Paraguay
Paraguay is one of the poorest countries in Latin America. The poverty rate is around forty percent. U.N. Special Rapporteur, Hilal Elver, visited the country in 2016. She said, “Paraguay has struggled to address inequalities -higher than in most neighboring countries- and important segments of society are still excluded from the country’s economic development and suffer from food insecurity.”
Overall, ten percent of the population live in extreme poverty, while the number grows for people living in rural areas. Over fifty percent of indigenous peoples live in extreme poverty. The people in the rural areas suffering from poverty rely heavily on agriculture for their livelihood.
The inequalities between elite landholders and the rural poor only exacerbate the consequences of poverty. After conducting her report, the U.N. Special Rapporteur reported that 10 percent of people in Paraguay face hunger and malnutrition. This is despite the impressive economic growth and the fact that Paraguay produces food for almost nine times its population.
While other issues are to blame for the underlying causes of poverty and hunger, the outlook is a hopeful one. A lot is being done to counteract hunger in Paraguay. The country is on track to reach its goal of ending undernourishment by 2020.
Organizations such as the World Food Programme are instituting plans and projects to help fight hunger in Paraguay. Their current programs partner with other organizations, specifically those operating locally in Paraguay, to ensure food security.
Working with these vulnerable communities who not only suffer from economic inequality, but also hunger, will help the current situation in Paraguay. It is imperative that a country with vast food resources feed its people. Hunger in Paraguay should not be a problem, especially with its growing economy.
– Emilia Beuger
Photo: Flickr
Building Economic Capacity With Savings Clubs
An estimated 10 million people are involved in savings groups worldwide. By saving as a group, small sums of individual contributions add up which gives the the group significant lending power. These groups keep interest rates lower than formal banks and can help a member who is struggling to contribute rather than punish them. Many groups use funds to construct a school, clinic or well. This model allows locals to take charge of their own community’s development.
Judy, a mother of seven in Kenya, applied to Care International to become a promoter of their Group Savings & Loans programs. She understood the value of owning a business from opening a bookshop more than 20 years prior. Judy was selected to be trained as a franchisee in western Kenya. The franchise model offers benefits for both Care International and franchisees, and the model has rapidly expanded into rural communities. In 18 months, Judy has mobilized 7,552 people to join over 200 savings clubs. These groups manage a total of $193,705.
These clubs have become popular in many places including Vietnam, South Africa, Kenya, Nigeria, Ghana, Eritrea and Ethiopia. A major motivator for this type of money management is to save up for expensive cultural events. In South Africa, a funeral can cost a year’s worth of income, so four out of five people are members of savings groups focused on funding funerals. When a woman gets married in Bangladesh, a lavish celebration and dowry is expected, which requires the bride’s family to save a significant amount of money.
An assumption that many people make is that the poor cannot afford to save money. Actually, smart management of money is crucial when there is no room for error. In addition to the lack of money, the poor must provide for themselves with an unpredictable, inconsistent income. Savings clubs have proven to be an effective strategy for utilizing the power of community and money management to improve the financial situation of the poor.
– Kristen Nixon
Photo: Flickr
Social Impact and the Green Bond Market
The potential of these bonds to facilitate global change is irrefutable. Green bonds are similar to other fixed-income instruments in their financial attractiveness but they are unique in their ability to provide a positive social and environmental impact.
The capital raised is dedicated to programs that benefit the environment and encourage more prosperity within nations, such as delivering clean water, promoting renewable energy sources and increasing efficiency.
Developed and developing countries alike face rising financial challenges from changing climate conditions and environmental hardships, but often it’s the poorest nations that suffer most. The green bond market finances many life-changing development strategies that support sustainable development, focusing on poverty reduction and inclusive growth. They are innovative financial tools to finance railways, roads, airports, buildings and energy and water infrastructures, while simultaneously achieving positive returns for the environment and society.
The green bond market has seen explosive growth and increased attention from investors in recent years. Launched by multilateral institutions less than a decade ago, green bonds have seen a 38 percent increase in the first half of 2017 compared to the year prior.
The Climate Bond Initiative, an international nonprofit focused on this niche, estimates that the total amount of green bonds issued in 2017 could reach upwards of $150 billion; this is a monumental increase from the $3 billion worth of green bonds that were issued in 2012.
This surge in interest can be explained by an increased desire by consumers to invest in an impact-driven market; this has caused a record number of public and private entities to join or issue green bonds.
The number, and nature, of the financial players involved in the green bond market have also contributed to the rapid growth. Development banks, such as the World Bank and the European Investment Bank, large corporations, including Apple and Intesa and sovereign states, like Poland and France, have all emerged in the green bond market.
Individual projects by each green bond issuer carry great reach. Just one project by the World Bank to improve sustainable water management in Brazil benefits 2.6 million people and provides 164,000 people with improved sanitation, enhancing the overall quality of life.
The interest that the green bond market has sparked is helping to change how investors think about their investments and how issuers think about the projects that they finance. So long as investors continue to ask questions about the expected social and environmental impacts of their investments, green bonds will continue to build a meaningful new capital market, providing financial support for environmental and sustainability initiatives around the world.
– Jamie Enright
Photo: Flickr
Child Labour Impedes Education in Cyprus
It is difficult for the Cyprus government to recognize the necessity of basic education in Cyprus when their Gross National Income (GNI) has decreased significantly from $32,560 in 2009 to $23,680 in 2016.
Cyprus is divided into two communities with separated laws and ideals. The Republic of Cyprus provides free basic education to children over age 3 or 4, whereas the Turkish Republic only allows children between ages 6 and 15 to access free education. Considering both communities make basic education accessible to the poor is a positive step forward.
However, one thing both communities agree upon is that child labour should not be completely eradicated, only monitored, so that children are working in acceptable conditions with an agreeable salary. Their laws state that only children 15 years and older are permitted to work any job, rather than attend school. It is also stated that a child must be at least 11 older in order to work after-school hours.
Although children in Cyprus are not being treated unfairly, allowing them to work is only encouraging them to drop out of school and feel as if education in Cyprus is not necessary or of any value.
UNICEF enforces that child labor worsens, or at least continues, the endless cycle of poverty by preventing children from receiving opportunities with higher pay and status. Although their education may be affordable for families, it is socially conditioned that the children must aid their family financially. Despite the opportunities that may be extended to them upon completing their education, many disregard the importance of education.
The denial of education is a threat to children’s basic human rights and puts Cyprus’s economy at risk with long-term consequences. Therefore, organizations like UNICEF are devoted to ending societally conditioned attitudes that permit child labour. They make the effort to bring awareness to the effects of disregarding basic education to countries like Cyprus.
– Brianna White
Photo: Flickr
How to Become a Representative for Congress
How does one become a representative for Congress? The journey to becoming a Member can be difficult and demanding. However, the privilege to represent one’s country can be very rewarding.
The U.S. Congress is divided into two chambers. The requirements vary by chamber, as do the roles they serve. To become a member of Congress one must first decide whether one wants to serve in the House of Representatives or in the Senate. Once having made this decision, one must meet certain specifications to qualify for office.
How to Become a Representative
The U.S. Constitution requires Members of the House be at least 25 years old, have been a U.S. citizen for at least seven years, and live in the state–though not necessarily the same district–they represent. Article VI, clause 3 requires that all Members take an oath to support the Constitution before they exercise the duties of their office.The Constitution was deliberately written to make becoming a Member of the House more accessible, to making this chamber closest to the people. Founders wanted it to be possible for ordinary citizens to obtain office and for elections to be frequent.To be eligible for the Senate, candidates must be at least 30 years old, have been a U.S. citizen for at least nine years and reside in the state they plan to represent at the time of election.
Members of Congress are representatives of their constituents. To become a representative for Congress, potential candidates need to determine and articulate issues that are relevant and important to voters. One must have strong knowledge of current political affairs and one’s stance on current and future policies.
Connections and relationships are key to running a successful campaign. According to Business Insider, this factor is causing many hopeful millennials to lose congressional races. In a blog post by hopeful House Member Erin Schrode, a 24-year-old activist from Northern California who hoped to be the youngest woman elected to the House, told readers a man told her after voting he would have voted for her instead of the incumbent–had he known who she was. Name recognition is an essential component of a successful campaign.
Money matters in elections. Funds pay for advertisement, media exposure, branding, letters to potential voters and commercials. While there is no minimum amount required to run for office, more funds equate to better efficiency and exposure.
Wendy Carillo, a thirty-six-year-old who arrived in America as an undocumented immigrant recently launched a race for Congress. In an interview with Medium, she suggested a candidate should raise at least $100,000 to pay for the “mini enterprise” one creates when running for office.
According to BallotPedia, federal law requires all candidates to file a statement of candidacy within 15 days of receiving donations or funding costs for their campaign that exceed $5,000. This is the only part of ballot access that is mandated by federal law. To have one’s name printed on an election ballot, a congressional candidate must do one or both of the following: collect and file petition signatures and/or pay registration fees. Once this is satisfied, requirements vary from state to state.
The final and most crucial task is to campaign. Talk to voters. Learn what matters to them. Appeal to their desires in your language and actions. Congressional candidates can spend up to 18 hours a day campaigning. A successful candidate must know and act on what matters to voters.
Still want to become a representative for Congress after having read up on how to? Stay grounded in the fact that campaigning does not have to be difficult or tiresome. Listening to the needs of constituents and turning them into policies make the work rewarding and gratifying. Our country truly becomes a nation for the people, run by the people when members of Congress remember this principle.
– Jeanine Thomas
Photo: Flickr
John McCain Against Ethnic Cleansing in Burma
In his address, Senator McCain withdrew his support of the National Defense Authorization Act for Fiscal Year 2018 (NDAA), which sought to expand a military relationship between the United States and Burma. Specifically, Senator McCain criticized Burmese leader Aung San Suu Kyi and her lack of interference with the ethnic cleansing in Burma, stating, “I can no longer support expanding military-to-military cooperation given the worsening humanitarian crisis […] against the Rohingya people.”
According to Council on Foreign Relations Senior Fellow for Southeast Asia Joshua Kurlantzick, Suu Kyi, who is a Nobel Peace Prize recipient for her work with democracy and human rights, “has never demonstrated much sympathy” to the Rohingya people. Suu Kyi has remained mostly silent throughout the humanitarian crisis; however, she has claimed that the ethnic cleansing in Burma was burdened by an “iceberg of misinformation,” which has further enabled the country’s continuous Buddhist nationalist movement.
The Rohingya people, a minority group within Burma‘s largely Buddhist population, are not recognized as an official ethnic group by the country’s government. The attacks against the Rohingya people escalated on August 25, 2017, when the Arakan Rohingya Salvation Army (ARSA) targeted multiple Burmese police and military officials.
Approximately 270,000 Rohingya people have fled Burma in order to find safety and solace in Bangladesh. Additionally, tens of thousands of Rohingya people remain displaced throughout Burma. However, the Burmese government has suspended all foreign aid to the Rakhine State, which has left all of the Rohingya people without necessities like food or health services.
Human Rights Watch has called upon the United Nations, the Association of Southeast Asian Nations and the Organization of Islamic Cooperation to place pressure on the Burmese government in order to allow access to foreign aid for the Rohingya people. Suu Kyi’s silence has had a significantly negative impact on the attacks against the Rohingya people, but she can help stabilize the situation by allowing foreign aid to reach the misplaced Rohingya people.
The World Food Programme (WFP) is an organization that has provided approximately 580,000 Rohingya refugees in Bangladesh with food, which is particularly important for pregnant women and young children. Also, the WFP’s nutritious food has slightly lessened the risk for disease outbreaks among the Rohingya refugees, as nutritious foods help to strengthen the immune system.
The Rohingya people still remain displaced throughout Bangladesh with no shelter; however, the WFP’s food delivery to the Rohingya people, and Senator McCain’s address, are important beginning steps to helping the refugees obtain better lives.
– Emily Santora
Photo: Flickr