Climate Change, Financial Crisis Hurt Progress Towards Millennium Development Goals - Insurance News | InsuranceNewsNet

InsuranceNewsNet — Your Industry. One Source.™

Sign in
  • Subscribe
  • About
  • Advertise
  • Contact
Home Now reading Newswires
Topics
    • Advisor News
    • Annuity Index
    • Annuity News
    • Companies
    • Earnings
    • Fiduciary
    • From the Field: Expert Insights
    • Health/Employee Benefits
    • Insurance & Financial Fraud
    • INN Magazine
    • Insiders Only
    • Life Insurance News
    • Newswires
    • Property and Casualty
    • Regulation News
    • Sponsored Articles
    • Washington Wire
    • Videos
    • ———
    • About
    • Meet our Editorial Staff
    • Advertise
    • Contact
    • Newsletters
  • Exclusives
  • NewsWires
  • Magazine
  • Newsletters
Sign in or register to be an INNsider.
  • AdvisorNews
  • Annuity News
  • Companies
  • Earnings
  • Fiduciary
  • Health/Employee Benefits
  • Insurance & Financial Fraud
  • INN Exclusives
  • INN Magazine
  • Insurtech
  • Life Insurance News
  • Newswires
  • Property and Casualty
  • Regulation News
  • Sponsored Articles
  • Video
  • Washington Wire
  • Life Insurance
  • Annuities
  • Advisor
  • Health/Benefits
  • Property & Casualty
  • Insurtech
  • About
  • Advertise
  • Contact
  • Editorial Staff

Get Social

  • Facebook
  • X
  • LinkedIn
Newswires
Newswires RSS Get our newsletter
Order Prints
May 25, 2010 Newswires
Share
Share
Post
Email

Climate Change, Financial Crisis Hurt Progress Towards Millennium Development Goals

Cape Town, May 25, 2010 (allAfrica.com/All Africa Global Media via COMTEX) -- The global economic crisis and climate change threaten to curtail already slow progress on meeting the social development targets of the Millennium Development Goals, says a new report by the Africa Progress Panel, an international review group headed by former United Nations Secretary-General Kofi Annan.

Economic progress has not increased social benefits to the majority of Africa's people despite the continent's unprecedented economic growth of an average six percent in the five years preceding the crisis, the report says.

It attributes the growth to "healthy macroeconomic policies, lower public debts, increased political freedom, increased openness to trade, and a favourable global environment of strong external demand, ample liquidity, extended concessional financing, and higher commodity prices."

But it notes that social protection and poverty reduction are still lacking.

"Despite strong economic growth, an overall improvement in the policy environment, and many success stories, particularly in the area of primary education, the continent as a whole is lagging behind on each of the relevant goals," the report said. "Progress, already too slow, now risks being further undermined by the effects of the global economic crisis and climate change."

The crisis has not only hurt economic growth and resulted in job losses but it also has affected government spending patterns.

"Effects are being transmitted to African societies through several channels. In terms of public expenditure on social sectors, the crisis is not only squeezing the ability of African governments to sustain the levels of investments they were able to make over the past few years, but it is also resulting in declines in public expenditure on social sectors as a percentage of GDP," according to the report.

"The lack of public social safety nets to offset the negative impacts on individuals and families is compounding the situation, with the working poor and other vulnerable groups enduring the greatest impacts of the crisis."

Progress has been made in meeting education targets, with 30 African countries on track to reach universal primary education by 2015, but much remains to be done with 50 million children still without access to primary education.

Climate change presents not only challenges but opportunities.

While changes in rainfall patterns, as well an increase in the occurrence and severity of natural disasters and lower agriculturalyields, present significant obstacles, climate change "also offers the continent new chances to profit from its vast carbon sinks, leapfrog dirty technologies, and embark on a path of low-carbon growth and clean development," the report says.

African countries are increasingly cooperating on climate issues as was evident from the "common negotiating position" at the COP 15 summit in Copenhagen, Demark.

"Nationally, many of them have formulated National Adaptation Programmes of Action and are pursuing reforms to encourage sustainable land management and combat deforestation."

The Millennium Development Goals were formulated and adopted by all the members of the United Nations in 2000. Eight goals were set with 21 "quantifiable targets" that should be achieved by 2015.

The goals, according to the United Nations Development Programme, aim to:

eradicate extreme poverty and hunger,

achieve universal primary education,

promote gender equality and empower women,

reduce child mortality,

improve maternal health,

combat HIV/AIDS, malaria and other diseases,

ensure environmental sustainability, and

develop a global partnership for development.

The Africa Progress Panel includes former heads of government Tony Blair and General Olusegun Obasanjo, human rights activist Graca Machel, micro-finance pioneer and Nobel Prize winner Professor Muhammad Yunus, Botswana banker Linah Mohohlo and musician Bob Geldof.

Also on the panel are: Michel Camdessus, former International Monetary Fund managing director; Peter Eigen, chairman of the Extractive Industries Transparency Initiative and founder of Transparency International; Robert Rubin, former secretary of the United States Treasury; and Tidjane Thiam, chief executive officer, Prudential PLC.

The Africa Progress Panel aims "to promote Africa's economic, social and political development" by:

contributing to and catalyzing initiatives by leaders, organizations and policy makers to develop clear positions on issues critical to the continent's future;

encouraging and monitoring the role of Africa's trading, donor and investment partners in supporting the continent's progress measured in a number of ways; including the coherence of policies as well as the levels of aid and investment;

engaging and intervening on specific issues, problems and opportunities in a politically timely manner, notably in advanceof critical decision making moments, whether in Africa or on the international stage."

The Africa Progress Panel Foundation is based in Geneva.

Newer

Introducing Insurance CBX – Accelerating Business Process Renovation That Drives Efficiency and Growth

Advisor News

  • Investors aren’t waiting out uncertainty
  • Transamerica and Advo(k)ate Advisors launch pooled employer plan
  • ‘I wish I’d met him sooner:’ Karlan Tucker remembered for integrity, faith
  • Why women must be more engaged in investing
  • SEC moves to simplify electronic delivery of investor communications
More Advisor News

Annuity News

  • Immediate Care Plan: A new solution for funding LTC
  • Delaware Life Launches a New Bonus Fixed Index Annuity Built for Growth, Protection, and Flexibility
  • LIMRA: Annuity sales set new quarterly record with $123.9B in Q2
  • CANNEX names Gary Baker as its new CEO
  • Corebridge adds options to its Power Series of indexed annuities
More Annuity News

Health/Employee Benefits News

  • Immediate Care Plan: A new solution for funding LTC
  • LTCi innovations that protect your client’s independence
  • Coalition calling for a 'healthcare cost freeze' in Pa. as insurers request rate increases
  • HEALTHCARE COSTS SOAR FOR KANSAS FAMILIES AS DAVIDS CALLS FOR RESTORING ACA TAX CREDITS | REPRESENTATIVE SHARICE DAVIDS SKIP TO MAIN CONTENT ABOUT COMMITTEES, LEADERSHIP AND CAUCUSES OUR DISTRICT VOTES AND LEGISLATION HELPING YOU GET ASSISTANCE HELP WITH A FEDERAL AGENCY HELP FOR TAXPAYERS HELP FOR VETERANS HELP FOR SMALL BUSINESSES HELP WITH PASSPORTS HELP WITH GRANTS STUDENT OPPORTUNITIES SERVI
  • New 2026 Study Reveals Long-Term Care Insurance Costs Can Differ By Thousands of Dollars Among Leading Insurers
More Health/Employee Benefits News

Life Insurance News

  • Trademark Application for “DIGITAL ADVISOR SUCCESS HUB” Filed by Jackson National Life Insurance Company: Jackson National Life Insurance Company
  • AM Best Revises Issuer Credit Rating Outlook to Stable for Members of Tennessee Farmers Insurance Companies
  • Unum Group Reports Second Quarter 2026 Results
  • Delaware Life Launches a New Bonus Fixed Index Annuity Built for Growth, Protection, and Flexibility
  • LIMRA predicts strong life and annuity sales for the rest of 2026
More Life Insurance News

NEWS INSIDE

  • Companies
  • Earnings
  • Economic News
  • INN Magazine
  • Insurtech News
  • Newswires Feed
  • Regulation News
  • Washington Wire
  • Videos

FEATURED OFFERS

Press Releases

  • Agent Review Launches Video AI Identity Verification to Help Protect Insurance Professionals, Consumers and Public Trust
  • Prosperity Life GroupSM Launches Prosperity PathWaySM Series, Bringing Greater Choice and Flexibility to Retirement Income Planning
  • Senior Market Sales® Fortifies Annuity Reach With Acquisition of Retirement Planning Firm Stratton & Company
  • RFP #T01625
More Press Releases > Add Your Press Release >

How to Write For InsuranceNewsNet

Find out how you can submit content for publishing on our website.
View Guidelines

Topics

  • Advisor News
  • Annuity Index
  • Annuity News
  • Companies
  • Earnings
  • Fiduciary
  • From the Field: Expert Insights
  • Health/Employee Benefits
  • Insurance & Financial Fraud
  • INN Magazine
  • Insiders Only
  • Life Insurance News
  • Newswires
  • Property and Casualty
  • Regulation News
  • Sponsored Articles
  • Washington Wire
  • Videos
  • ———
  • About
  • Meet our Editorial Staff
  • Advertise
  • Contact
  • Newsletters

Top Sections

  • AdvisorNews
  • Annuity News
  • Health/Employee Benefits News
  • InsuranceNewsNet Magazine
  • Life Insurance News
  • Property and Casualty News
  • Washington Wire

Our Company

  • About
  • Advertise
  • Contact
  • Meet our Editorial Staff
  • Magazine Subscription
  • Write for INN

Sign up for our FREE e-Newsletter!

Get breaking news, exclusive stories, and money- making insights straight into your inbox.

select Newsletter Options
Facebook Linkedin Twitter
© 2026 InsuranceNewsNet.com, Inc. All rights reserved.
  • Terms & Conditions
  • Privacy Policy
  • InsuranceNewsNet Magazine

Sign in with your Insider Pro Account

Not registered? Become an Insider Pro.
Insurance News | InsuranceNewsNet