The New York Times (5/20) was one of many major U.S. publications to report on President Obama’s May commencement speech, delivered at the Coast Guard Academy in Connecticut. In the speech, the President called out climate change as a serious threat to global security and an immediate risk to U.S. national security.
The Washington Post (5/20) also covered the speech, reporting that the President pointed to drought and crop damage as factors contributing to the rise of Boko Haram in West Africa and to Syria’s civil war.
Elsewhere, Reuters (5/15) reported that China and India released a joint statement on climate change during Prime Minister Narenda Modi’s visit to China. In the statement, both countries said they would submit their plans to curb greenhouse gas emissions well before global climate talks in Paris this December. China and the United States agreed last year to limits on carbon emissions, starting in 2025.
Finally, the Guardian (5/18) reported the release of a new IMF working paper on fossil fuel subsidies. The working paper estimates that fossil fuel companies benefit from more than $5 trillion in global subsidies annually, or $10 million every minute. The paper goes on to conclude that the potential fiscal, environmental and welfare impacts of energy subsidy reform are substantial.