Earth’s ‘life support system’ is being destroyed by global business paradigm, UN expert warns

In a hard-hitting report to the Human Rights Council, Special Rapporteur David Boyd underscored that current business practices, particularly large coporations, pose a severe threat to the planet’s ecological integrity.

‘Colossal impacts’ of the ultrarich

Mr. Boyd emphasized the “colossal impacts” on natural resources, which are being consumed six times faster than the planet can sustain.

“Led by the ultrarich, with their private jets, yachts, massive mansions, space travel and hyperconsumptive lifestyles, humanity is exceeding Earth’s carrying capacity,” the report stated in stark language, singling out the ecological footprint of the world’s most developed nations.

“If everyone consumed like the average American, we would need another four Earths to supply the resources and absorb the wastes,” it added.

Profound consequences

“We are sabotaging Earth’s life support system, with profound consequences for human rights,” he warned.

We are sabotaging Earth’s life support system, with profound consequences for human rights
– David Boyd

He added that States have failed to adequately regulate, monitor, prevent and punish businesses for their abuses of the climate, environment and human rights.

“The situation is further exacerbated as States often encourage, enable and subsidize destructive business activities.”

The Human Rights Council-appointed independent expert highlighted some of the most destructive impacts of business enterprises on the right to a clean, healthy and sustainable environment.

Among them are so-called “greenwashing”, the undermining of scientific fact, enabling corruption and the use of lawsuits to silence debate and intimidate critics. The impacts are documented in a policy brief supplementing Mr. Boyd’s report.

“All businesses are responsible for respecting human rights, including the right to a healthy environment,” he said, stressing States’ duty to protect human rights from actual and potential harm that businesses may cause, and their obligation to hold businesses accountable.

Stark inequalities between the rich and the poor.

A paradox

Mr. Boyd also highlighted a paradox confronting the international community.

He cited the imperative of reducing the ecological footprint to slow climate change while also acknowledging the necessity for increased energy and material use and availability in the Global South.

This, he asserted, is crucial for achieving a comfortable standard of living and ensuring the full enjoyment of human rights, calling on the developed world to spearhead efforts.

“Wealthy States must take the lead in reducing their footprints and financing sustainable and equitable growth in the global South.”

Prioritize benefits, not profits

The independent expert presented several

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Who profits most from America’s baffling health-care system?

ON OCTOBER 4TH more than 75,000 employees of Kaiser Permanente, a large health-care chain, began a three-day strike. The walkout was the biggest in the history of America’s health sector, and called attention to the staffing shortages plaguing the country’s hospitals and clinics. In the same week ten drugmakers said they would negotiate medicine prices with Medicare, the public health-care system for the elderly, following legislation which all but forced them to. It will be the first time that companies have haggled over prices with the government.

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These events are symptoms of deeper malaise in America’s dysfunctional health-care system. The country spends about $4.3trn a year on keeping citizens in good nick. That is equivalent to 17% of GDP, twice as much as the average in other rich economies. And yet American adults live shorter lives and American infants die more often than in similarly affluent places. Pharmaceutical firms and hospitals attract much of the public ire for the inflated costs. Much less attention is paid to a small number of middlemen who extract far bigger rents from the system’s complexity.

Over the past decade these firms have quietly increased their presence in America’s vast health-care industry (see chart ). They do not make drugs and have not, until recently, treated patients. They are the intermediaries—insurers, chemists, drug distributors and pharmacy-benefit managers (PBMs)—sitting between patients and their treatments. In 2022 the combined revenue of the nine biggest middlemen—call them big health—equated to nearly 45% of America’s health-care bill, up from 25% in 2013. Big health accounts for eight of the top 25 companies by revenue in the S&P 500 index of America’s leading stocks, compared with four for big tech and none for big pharma.

Big health began as a constellation of oligopolies. Four private health insurers account for 50% of all enrolments. The biggest, UnitedHealth Group, made $324bn in revenues last year, behind only Walmart, Amazon, Apple and ExxonMobil, and $25bn in pre-tax profit. Its 151m customers represent nearly half of all Americans. Its market capitalisation has doubled in the past five years, to $486bn, making it America’s 12th-most-valuable company. Four pharmacy giants generate 60% of America’s drug-dispensing revenues. The mightiest of them, CVS Health, alone made up a quarter

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Ministry Of Finance And Economic system

Ministry of FinanceThe Ministry of Finance performs a key function in establishing, implementing and reviewing authorities’s economic, fiscal, monetary management and taxation policies. Following German reunification on 3 October 1990, the constructing was utilized by the Berlin branches of the German Finance Ministry and the Federal Courtroom of Auditors. Other parts of the building have been occupied by the Treuhandanstalt, the agency charged with privatising the East German economic system. The agency was based mostly here from 1991 to 1995.

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To offer consultancies and technical help to the government departments in the areas of the purposes of the standard financial system of the Government of the Emirate. Provide leadership in Financial and administrative issues and ship prime quality, professional, financial, and financial companies to the Minister for Finance and Treasury, the Authorities, other Ministries and the wider neighborhood.

The ministry additionally information and publishes annual macroeconomic information on China’s economic system This contains info reminiscent of earlier financial development charges in China, central government debt and borrowing and lots of different indicators concerning the Chinese financial system.

The photos placed on this website are copyright protected by the Creator and Adjacent Rights Regulation of the Republic of Armenia. It is strictly forbidden to repeat, misuse, unfold, exemplify, modify the pictures or use them for every other purposes earlier than prior written permission of the Republic of Armenia Authorities employees.

1997 – 1998 – Deputy Director of the Budget Division, Director of the Department for Public Procurement of the Finance Ministry. Draft laws and regulations on public finance, monetary, accounting management , external finance and debts. Preserve fiscal self-discipline by offering authorities with effective financial and financial advice.

The Ministry of Finance and The Public Service is the principal financial organization of Government of Jamaica with constitutional and legal responsibility for the prudent management of the monetary assets of the Authorities. By means of analysis and planning, it promotes the event and implementation of fiscal … Read more

Enterprise News, Native Enterprise Information, Economic system

Business NewsRepeal of H-4 visa, which permits spouses of H-1B visa holders to work in the US, is in the ultimate stage of clearance, the Donald Trump administration has mentioned. With that, the US government is set to render thousands of H-four visa holders jobless. As soon as cleared, the move is more likely to affect some 70,000 highly-skilled professionals from India. H-4 visas are issued to spouses of these holding H-1B visas, largely popular amongst IT professionals from India. Despite widespread requests by lawmakers and representative of the American IT industry, the Trump administration is planning to finish the Obama-era rule that enables spouses of H-1B visa holders to work legally in the US.

India would shortly achieve the targeted three per cent fiscal deficit stage and it is going to be more everlasting and sustainable in nature, Financial Affairs Secretary Subhash Chandra Garg stated. After this first hurdle, it’s essential begin gaining ranking. As a result of large measurement of the Google database – literally billions of pages – just getting indexed doesn’t do much for you.

The rupee on Friday edged increased to sixty eight.15 in opposition to the US greenback, extending its restoration after falling to 18-month low sixty eight.42 on Wednesday. Regardless of the transient recovery, the rupee just isn’t far away from its all-time low of sixty eight.87 vs US dollar, recorded in November 2016. Besides outflows from home capital markets, a rising greenback and a surge in global crude costs have weighed on the rupee. The rupee is down over 6 per cent in opposition to the US greenback thus far this 12 months. Foreign exchange advisory firm IFA Global says that the opportunity of rupee heading towards 70 per dollar is increasing. There is a still room for further depreciation from current ranges, it adds.

Shares dived in Hong Kong and Shanghai as buyers fret over a possible trade warfare between the US and China after Donald Trump threatened fresh sanctions, sparking warnings of retaliatory measures by Beijing. Domestic foreign exchange market sentiment succumbed to bouts of pressure on revival of fresh international commerce struggle fears and issues about possibility that the antagonistic US trade coverage may have a considerable impression on the Indian economy.

Journal Media does not control and isn’t chargeable for person created content, posts, feedback, submissions or preferences. Users are reminded that they’re totally chargeable for their own created … Read more

Economic system And Finance News From A German Perspective

Business NewsThe corporate mentioned the choice to lift prices was made in response to sustained will increase in wholesale vitality costs on global markets. China fires again in Trump’s trade conflict. Europe’s essential inventory markets have slumped at the beginning of trading, mirroring heavy losses across Asia on global trade warfare fears.

Tightening regulations and commerce tariffs globally will pressure export-oriented sectors corresponding to IT services and auto, however the weakening rupee will somewhat mute this impact, the report added. The employees of public sector banks will go on a two-day strike from Could 30-31 to protest a ‘meagre’ 2 per cent wage hike supplied by the Indian Banks’ Affiliation (IBA).

Within the latest salvo between the world’s two biggest economies on Tuesday, China accused the United States of “excessive strain and blackmailing” and vowed to retaliate after US President Donald Trump threatened to impose a ten per cent tariff on $200 billion of Chinese goods.

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Dr Ali bin Azan al Hashami, deputy secretary of the real estate registry on the Ministry of Housing, stated that the worth of traded contracts in Oman’s actual property sector exceeded RO256mn by the end of Might this 12 months. The collected charges from actual estate transactions stood at RO8.34mn in the course of the first five months of 2018, he stated.

Shares dived in Hong Kong and Shanghai as traders fret over a potential trade war between the US and China after Donald Trump threatened contemporary sanctions, sparking warnings of retaliatory measures by Beijing. Domestic foreign exchange market sentiment succumbed to bouts of strain on revival of recent international commerce struggle fears and concerns about risk that the opposed US commerce policy will have a considerable influence on the Indian economic system.

The rupee on Friday edged larger to sixty eight.15 towards the US greenback, extending its restoration after falling to 18-month low 68.forty two on Wednesday. Regardless of the temporary restoration, the rupee isn’t far-off from its all-time low of 68.87 vs … Read more