UNLOCKING FINANCIAL RESOURCES FOR INVESTMENTS IN CLIMATE CHANGE AND ENERGY TRANSITION

Women’s leadership is one of the key drivers for gender equality worldwide. Women Heads…

On July 15th leaders of the BRICS nations agreed to establish a New Development Bank (NDB) while attending the group summit in Fortaleza, Brazil. This announcement has caused extraordinary attention all around the world, marking the undeniable significance for the future development of the BRICS, as well as the entire foundation of the international financial institutions. Naturally, the NDB creation initiative has prompted optimistic feedback as well as raised questions and skepticism. WEJ has invited two renowned experts to explain the meaning of the BRICS New Development Bank announcement and attempt to predict what this initiative might bring to global financial and economic development.

Ever since the shale gas revolution in the US that received its recognition in the second half of the 2000s, the majority of global energy experts have spoken of the gigantic changes to the market that the US will bring in the near future. Although the US LNG has not yet changed the face of the global energy supply chains, it has all the potential to redraw the energy maps after 2017-2018 when the mass exports of liquefied gas would begin. But in the midst of the US energy breakthrough, small attention is given to what we believe might be yet another “game-changer”.

On June 27 the EU signed an Association Agreement with three post-Soviet states: Ukraine, Moldova, and Georgia. Traditionally, the EU uses Association Agreements to strengthen economic ties with countries outside the Union. The EU simplifies trade and harmonizes certain standards, including technical and legal ones, by creating a more favorable environment for economic cooperation. But in the cases of Ukraine, Moldova, and Georgia, the Agreement has obvious political significance.

The new book “Russia and the World on the Way to Sustainable Economic Growth” was released recently by the World Organization of Creditors. This work was prepared on the basis of WOC analytical studies, published in the World Economic Journal in 2013-2014 years.
While reading this book, it becomes obvious that the current economic crisis is threatening mankind with a real catastrophe. And the financial issues are just the tip of the iceberg. So there can be no simple or quick solution to the crisis. If they want to avoid a social disaster, leading countries need to push to recover industrial production, to ensure that businesses and capital return home, to create new jobs, and to provide tax breaks for investors. And the task of servicing financial institutions is to provide investment, and to create opportunities for investors to obtain a real income.