Is the World Bank Snatching Climate Defeat From the Jaws of Victory?
Here’s a headline for climate action advocates to love: Wind and Solar Crushing Fossil Fuels. It’s Bloomberg New Energy Finance’s summary of the current state of play in global energy markets, and it’s got striking data points to support it.
In 2015, record investment in new wind and solar electricity was twice as high as dwindling capital flowing into gas and coal. More remarkable, for the first time clean energy investment topped oil and gas capital expenditures combined. Because the prices of wind and solar are plummeting, the volume of new energy being constructed grows faster than the dollars being spent: annual wind installations have doubled four times since 2000, solar a stunning seven! New bids for wind in North Africa and solar in Mexico are coming in below $0.04 kwh, half the price of new coal plants with pollution controls that meet modern health standards.
But here’s a sobering counter-point, in a forward by UN Secretary General Ban Ki Moon to another report on stunning rates of renewables growth: Sustainable, renewable energy is growing, but not quickly enough to meet expected energy demand. And the BNEF numbers support this worry, showing that by 2040 at least 50 percent of new cars sold will still rely on gasoline or diesel, and that developing countries other than China continue to add more new fossil fired electrical capacity which will either be shut down prematurely or, if fully utilized, blow the world way past acceptable levels of greenhouse pollution.
So what’s the problem? While clean energy is cheaper to buy and operate than fossil, it is requires more capital at the front end—because the benefits of free sun and wind flow over time, while the expenses of turbines, panels and batteries come all at once. That’s not a big problem in industrial nations, where capital is plentiful and cheap—in fact investors are desperate for the kinds of yields clean power can bring. So fossil generation is dropping in Europe and the U.S. And it’s not a problem in China which holds enormous foreign exchange reserves—which is why China appears to be at or close to its peak emissions a full decade before it promised. But in the rest of the developing world capital is scarce or expensive or both, which makes it cheaper to buy a new coal turbine and pay for the fuel over time than to pay the whole cost of a solar or wind farm in advance.
So the name of the game is to loan cheap, abundant capital from the industrial world to clean energy projects in developing nations. The technologies themselves are not risky—by now solar panels and wind turbines can be counted on to generate electrons years after year for decades. And the skills to construct and operate these projects are broadly available in the major developing economies.
But loaning money to a foreign country to be repaid over 20 years creates a series of risks unrelated to the project. What will happen to exchange rates over those periods? Will the government be stable enough to ensure that contracts are honored? Will there be a war or revolution that might destroy the panels or turbines?
Banks know how to guarantee loans against these risks—and the major industrial nations have agencies which will enable GE, say, to build a nuclear project in Kenya, by guaranteeing GE’s loans. The more innovative of the two U.S. agencies, the Overseas Private Investment Corporation, managed to leverage $20 million in guarantees for clean energy in Africa into a total lending pool of nearly $1 billion of finance for clean energy.
But the world lacks a global institution which will do this for all countries and all commercially sound clean energy projects; OPIC is too small, and can only guarantee where the suppliers or funders are Americans. And so far the industrial nations which control development banks like the World Bank have refused to bring the needed financial creativity to ensure that a lack of borrowing capacity does not lock the world into a fossil fuel future.
In the run-up to Paris the World Bank took the lead in trying to solve the problem of climate finance. Its efforts were widely dismissed by the developing countries as providing far too little affordable finance for the clean energy revolution needed. Now, post-Paris, the World Bank has come forward with its new offer, claiming that it is bold and different. Heralding its own efforts, the World Bank said it would help finance 30 gigawatts of renewable power, provide early warning systems on drought failure for 100 million people and develop "climate-smart agriculture investment plans for at least 40 countries."
It’s hard to assess the scale of these commitments from the press release, but the full document suggests that there is much less here than meets the eye:
- The Bank Group does plan to ramp up its investments in climate, and place greater emphasis on dealing with climate change impacts on poor countries than previously. Its total portfolio mix will shift from 21 percent climate related to 28 precent by 2020.
- Direct funding from the World Bank’s various arms will rise to $16 billion by 2020.
- By 2020 World Bank loans will be leveraging $13 billion a year in additional private sector funds, making a 2020 total of $29 billion available.
The Bank heralded this as represented 1/3 of the $100 billion in climate finance that OECD countries pledged six years ago in Copenhagen. By itself, this sounds impressive—and was widely reported as such. But if you look at the scale of the challenge as reported by BNEF, or as outlined in the national commitments made by the developing economies in Paris, it’s alarmingly modest.
India’s Paris commitment, for example, involves adding nearly 30 gigawatts of clean electricity every year, so the World Bank’s five year plan would cover only one-fifth of India’s needs with nothing left for the rest of the developing world. Total clean energy investment in 2015 was $321 billion—the World Bank promises that by 2020 it will enable a pathetic 10 percent increase in today’s investment levels.
Missing from the World Bank’s Climate Change Action Plan are any indication that it will follow through on the G-7 pre-Paris call for it to dramatically increase total lending by leveraging its own balance sheet. Instead the Bank is primarily shifting funds from other development activities to climate—a step which will infuriate the developing world, for whom less money for health and education to pay for climate puts the whole burden of climate action on the poor.
Nor is the World Bank stepping forward to use aggressive private sector loan guarantees ala OPIC to maximize the leverage of public sector funds. The World Bank’s private sector commitment is only $3.5 billion of its $16 billion total, and anticipates a leveraging ratio of only 4-1. (OPIC got at least 20-1 in Africa).
Even if other development banks collectively make up the rest of the Copenhagen $100 billion pledge, low carbon development in emerging nations will still be credit starved. Let’s be clear. The problem here is not cost—clean energy is cheaper—nor a lack of capital—there are trillions of dollars sitting in investment funds in advanced economies which would love the 6 percent returns that properly guaranteed clean energy investments yield.
The problem is that the industrial nations, which created the climate crisis, are unwilling to deploy modest creativity in reshaping global financial arrangements to overcome it. Liquidity shortages were not permitted to bring down the global banking system in the crisis of 2008. Even unstable developing countries are always able to obtain long-term, low-interest loans to purchase tanks and fighter jets from the Global North.
But from every indication, while much of the Global South is trying to invest aggressively in low carbon development, the OECD countries are still starving these ambitions by refusing to provide adequate credit. Financial arrangements envisaged at Bretton Woods in 1947 are still dominating the conversation in 2016.
Global development banks may yet snatch climate defeat from the victory enabled by Paris. The Global South is moving. Will the industrial world keep up?
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By Sara Lindberg
Whether you've hit a workout plateau or you're just ready to turn things up a notch, adding more strenuous exercise — also known as high-intensity exercise — to your overall fitness routine is one way to increase your calorie burn, improve your heart health, and boost your metabolism.
However, to do it safely and effectively, there are some guidelines you should follow. Keep reading to learn more about the benefits of vigorous exercise and how to safely dial up the intensity of your workouts.
What Is Considered Strenuous Exercise?<p>When it comes to exercise, the intensity of how hard you work out is just as important as the duration of your exercise session. In general, exercise intensity is divided into three categories:</p><ul><li>low</li><li>moderate</li><li>vigorous or strenuous</li></ul><p>For an activity to be vigorous, you need to work at 70 to 85 percent of your maximum heart rate, according to the<a href="https://www.heart.org/en/healthy-living/fitness/fitness-basics/target-heart-rates" target="_blank"> American Heart Association</a>. Examples of vigorous exercise include:</p><ul><li>running</li><li>cycling at 10 mph or faster</li><li>walking briskly uphill with a heavy backpack</li><li>jumping rope</li></ul><p>Low to moderate exercise is easier to sustain for longer periods since you work below 70 percent of your maximum heart rate and, sometimes, well below that level.</p><p>To reap health benefits, the <a href="https://www.hhs.gov/fitness/be-active/physical-activity-guidelines-for-americans/index.html" target="_blank">Physical Activity Guidelines for Americans</a> recommends that people age 18 and older get one of the following:</p><ul><li><strong>150 minutes</strong> of moderate-intensity aerobic activity per week</li><li><strong>75 minutes</strong> of vigorous aerobic activity per week</li><li><strong>combination of both types</strong> of activity spread throughout the week</li></ul>
Strenuous Exercise Vs. Moderate Exercise<p>Increasing your exercise intensity is fairly simple to do. You can still participate in your favorite activities — just at a more vigorous pace.</p><p>One of the benefits of more strenuous exercise is that you can reap the same rewards as moderate-intensity exercise but in less time. So, if time is of the essence, doing a more strenuous 20-minute workout can be just as beneficial as doing a slower 40-minute workout session.</p><p>Here are some examples of <a href="https://www.cdc.gov/nccdphp/dnpa/physical/pdf/pa_intensity_table_2_1.pdf" target="_blank">strenuous vs. moderate exercise<span></span></a>.</p><table><tbody><tr><th>Moderate intensity</th><th>Strenuous intensity</th></tr><tr><td>bicycling at less than 10 mph</td><td>bicycling at more than 10 mph</td></tr><tr><td>walking briskly</td><td>running, or hiking uphill at a steady pace</td></tr><tr><td>jog-walk intervals</td><td>water jogging/running</td></tr><tr><td>shooting baskets in basketball</td><td>playing a basketball game</td></tr><tr><td>playing doubles tennis</td><td>playing singles tennis</td></tr><tr><td>raking leaves or mowing the lawn</td><td>shoveling more than 10 lbs. per minute, digging ditches</td></tr><tr><td>walking stairs</td><td>running stairs</td></tr></tbody></table>
Benefits of Vigorous Exercise<p>Besides being more efficient, turning up the heat on your fitness sessions can benefit your health in a variety of ways. Let's take a closer look at some of the evidence-based benefits of a higher intensity workout.</p><ul><li><strong>Higher calorie burn.</strong> According to the <a href="https://www.acefitness.org/education-and-resources/professional/expert-articles/5008/7-things-to-know-about-excess-post-exercise-oxygen-consumption-epoc/?utm_source=Rakuten&utm_medium=10&ranMID=42334&ranEAID=TnL5HPStwNw&ranSiteID=TnL5HPStwNw-hYlKnAcfzfixAUsvnO6Ubw" target="_blank">American Council on Exercise</a>, working out at a higher intensity requires more oxygen, which burns more calories. It also contributes to excess post-exercise oxygen consumption (EPOC) or the "afterburn effect" that allows you to continue burning calories even after you finish working out. This means your metabolism will stay elevated for longer after a vigorous exercise session.</li><li><strong>More weight loss.</strong> A <a href="https://www.healthline.com/health-news/interval-workouts-will-help-you-lose-weight-more-quickly" target="_blank">higher calorie burn</a> and an elevated metabolism will help you lose weight more quickly than doing low- or moderate-intensity exercise.</li><li><strong>Improved heart health.</strong> According to a <a href="https://www.ncbi.nlm.nih.gov/pubmed/16377300" target="_blank">2012 study</a>, high- and moderate-intensity exercise appears to offer low chance of cardiovascular events, even in those with heart disease. Cardiovascular benefits may include improvements in:<ul><li><a href="https://www.healthline.com/health/diastole-vs-systole" target="_blank">diastolic blood pressure</a></li><li><a href="https://www.healthline.com/nutrition/15-ways-to-lower-blood-sugar#TOC_TITLE_HDR_1" target="_blank">blood sugar control</a></li><li>aerobic capacity</li></ul></li><li><strong>Improved mood.</strong> High-intensity exercise may also boost your mood. According to a large <a href="https://www.jstage.jst.go.jp/article/jpts/27/4/27_jpts-2014-736/_article" target="_blank">2015 study</a> that analyzed the data of more than 12,000 participants, researchers found a significant link between strenuous exercise and fewer depressive symptoms.</li><li><strong>Lower risk of mortality.</strong> According to a 2015 <a href="https://www.ncbi.nlm.nih.gov/pubmed/25844882" target="_blank">study</a>, researchers found that vigorous activity may be key to avoiding an early death. The study, which followed 204,542 people for more than 6 years, reported a 9 to 13 percent decrease in mortality for those who increased the intensity of their exercise sessions.</li></ul>
How to Measure Exercise Intensity<p>So, how do you know for sure that you're exercising at a strenuous level? Let's look at three ways to measure the intensity of your physical activity.</p><h3>1. Your heart rate</h3><p>Monitoring your heart rate is one of the most reliable methods for measuring exercise intensity. Exercising at 70 to 85 percent of your maximum heart rate qualifies as vigorous exercise intensity.</p><blockquote><strong><strong>WHAT IS YOUR MAXIMUM HEART RATE?</strong></strong>Your maximum heart rate is the fastest your heart can safely beat. To find out what your maximum heart rate is you need to subtract your age from 220. For example, for a 40-year-old person: <ul><li>220 bpm (beats per minute) minus age</li><li>220 – 40 = 180 bpm</li></ul>To work out at a vigorous pace, you'll want to exercise within 70 to 85 percent of your maximum heart rate. For example: <ul><li>180 x 0.70 (70 percent) = 126</li><li>180 x 0.85 (85 percent) = 153</li></ul>For a 40-year-old person, a vigorous training range is 126 to 153 bpm.<br></blockquote><p>You can check your heart rate while you're working out by wearing a heart rate monitor or <a href="https://www.healthline.com/health/how-to-check-heart-rate" target="_blank">taking your pulse</a>.</p>
How to Add Vigorous Activity to Your Workout<p>Adding strenuous activity to your weekly workout routine requires some careful planning. Fortunately, many of the activities that you do at a moderate level can easily be performed at a higher intensity.</p><p>One way of incorporating vigorous aerobic activity into your routine is to do a <a href="https://www.healthline.com/nutrition/benefits-of-hiit" target="_blank">high-intensity interval training (HIIT)</a> workout. This type of workout combines short bursts of intense activity — typically performed at 80 to 95 percent of your maximum heart rate — with recovery periods at 40 to 50 percent maximum heart rate.</p><p>To sustain this level of training, consider following a 2:1 work to rest ratio. For example, a <a href="https://www.healthline.com/health/treadmill-weight-loss#hiit" target="_blank">treadmill workout </a>or outdoor running session could include:</p><ul><li>running at 9 to 10 mph for 30 seconds</li><li>followed by walking at 3 to 4 mph for 60 seconds</li><li>alternating this work-to-rest ratio for 20 to 30 minutes</li></ul><p>Playing a fast-paced sport like soccer, basketball, or racquetball is another effective way to add strenuous activity to your fitness routine. Participating in <a href="https://www.healthline.com/health/benefits-of-a-spin-class" target="_blank">cycling classes</a> or swimming laps are other ways to build more strenuous exercise into your workouts.</p>
Safety Tips<p>Before you turn up the intensity on your workouts, it's important to keep the following safety tips in mind.</p><h3>Check with your doctor</h3><p>If you have a health condition or you haven't been active in a while, make sure you talk to your doctor before you start a high-intensity exercise routine. Your doctor can advise you on a safe level of exercise or how to become more active in the safest way possible.</p><h3>Build up the intensity slowly</h3><p>Going from low- or moderate-intensity workouts to vigorous exercise requires time and patience. While you may be ready to jump in with both feet, the safest way to add more vigorous exercise is to do it in bite-size increments. Pushing yourself too quickly can result in injuries and burnout.</p><p>For example:</p><ul><li><strong>Week 1:</strong> Swap out one moderate-paced cardio session for a HIIT workout.</li><li><strong>Week 2:</strong> Swap one moderate-paced session with a HIIT workout, and also add a circuit strength training session to your weekly routine.</li><li><strong>Week 3 and 4: </strong>Repeat weeks 1 and 2 before you start adding more high-intensity exercise to your weekly routine.</li></ul><p>It's also a good idea to space out your vigorous workouts throughout the week. Try not to do two strenuous sessions back-to-back.</p><h3>Don't forget the recovery time</h3><p>Your body requires more time to recover from a vigorous workout compared to a low- or moderate-intensity session.</p><p>To help your body recover, make sure to always include a cooldown and <a href="https://www.healthline.com/health/exercise-fitness/static-stretching" target="_blank">stretch routine</a> after strenuous physical activity.</p><h3>Stay hydrated</h3><p><a href="https://www.healthline.com/nutrition/7-health-benefits-of-water" target="_blank">Staying hydrated</a> is especially important when you're exercising hard. Not drinking enough fluids can affect the quality of your workout and make you feel tired, lethargic, or dizzy. It may even lead to <a href="https://www.healthline.com/health/dehydration-headache" target="_blank">headaches</a> and <a href="https://www.healthline.com/health/pain-relief/how-to-stop-leg-muscle-cramps" target="_blank">cramps</a>.</p>
The Bottom Line<p>Turning up the intensity of your workout sessions can be an effective way of boosting your overall health and fitness. It's also an easy way to save time when trying to fit a workout into your day.</p><p>To play it safe, always start slow and pay attention to how your body feels.</p><p>While vigorous exercise offers many health benefits, it's not appropriate for everyone. If you have a health condition or you haven't been active in a while, make sure to talk with your doctor before working out at a more strenuous level.</p>
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In January 2015, food sales at restaurants overtook those at grocery stores for the first time. Most thought this marked a permanent shift in the American meal.
Solving the Age-Old Problem of Spoiled Cheese<p>People have eaten pasta and cheese together for hundreds of years. Clifford Wright, the doyen of Mediterranean food history, says <a href="http://www.cliffordawright.com/caw/food/entries/display.php/topic_id/16/id/105/" target="_blank">the first written recipe</a> for macaroni and cheese was created in the court of the king of Naples in the 13th century, while <a href="https://food52.com/blog/9916-the-history-of-macaroni-and-cheese" target="_blank">the first reference</a> in an English language cookbook likely appeared in Elizabeth Raffald's 1769 book "The Experienced English Housekeeper."</p><p><span></span>An internet search for macaroni and cheese recipes will turn up over 5 million hits, but many still prefer to get theirs in a box – the kind with pasta that comes in shapes ranging from shells to Pokemon characters, accompanied by a packet of powdered cheese sauce.</p><p>Boxed macaroni and cheese was one outcome of the quest for ways to keep cheese longer. Some cheese gets better as it ages – a well-aged cheddar is one of life's delights – but once most cheeses hit their prime, <a href="https://www.dairyfoods.com/articles/91548-how-to-maximize-cheese-shelf-life" target="_blank">they tend to quickly go bad</a>. Before household refrigeration became common, many retailers wouldn't even stock cheese in the summer because it spoiled so quickly.</p><p>Processed cheese solved this age-old problem.</p>
When Natural Was Nasty<p>Today, food that's simple, pure and natural is <a href="https://theconversation.com/how-was-french-cuisine-toppled-as-the-king-of-fine-dining-66667" target="_blank">all the craze</a>, while <a href="https://apnews.com/c06a1200807c4b82a03452d08d480692" target="_blank">disdain for processed foods</a> is practically a credo among sophisticated consumers.</p><p>But when Kraft's different forms of processed cheese came out, they found widespread acceptance despite their strange textures. The fact that it wasn't natural didn't seem to bother consumers at all. In fact, as international food historian Rachel Laudan <a href="https://online.ucpress.edu/gastronomica/article/1/1/36/93394/A-Plea-for-Culinary-Modernism-Why-We-Should-Love" target="_blank">has noted</a>, back then, "natural was something quite nasty." She describes fresh milk as warm and "unmistakably a bodily secretion." Throughout the history of cookery, most recipes aimed to transform an unappetizing raw product into something delightful and delectable.</p><p>So for most consumers, processed foods were a godsend. They kept well, tended to be easily digestible and, most importantly, they tasted good. Many of them could be easily prepared, freeing women from spending entire days cooking and giving them more time to pursue professions and avocations.</p><p>In some ways, processed foods were also healthier. They could be fortified with vitamins and minerals, and, in an era before everyone had access to mechanical refrigeration, the fact that they kept well meant consumers were less likely to contract diseases from spoiled, rotten foods. Pasteurization of dairy products virtually <a href="https://www.the-scientist.com/foundations/rethinking-raw-milk--1918-65126" target="_blank">eliminated diseases like undulant fever</a>, while foods processed and canned in large factories were less likely to harbor food-borne illnesses that could crop up due to faulty or improperly sanitized equipment used by home canners.</p>
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They survive underground during the winter and then reemerge the following spring, as documented in places like Alaska. They're called "overwintering," "holdover," or "zombie" fires, and they may have now awoken in the Arctic Circle — a fast-warming region that experienced unprecedented fires in 2019. The European Union's Copernicus Atmosphere Monitoring Service is now watching these fires, via satellite.