Connect with us


Blue sky thinking: 5 things to know about air pollution



Blue sky thinking: 5 things to know about air pollution
Spread the love

Around the world, more than 90 per cent of people breathe in air that the World Health Organization (WHO) considers potentially harmful.

While the source of air pollution varies – some come from vehicle emissions, some from power plants, some from crop burning – the outcome is the same: airborne contaminants are a dire threat to human health.

Every year, they cause about 7 million premature deaths from ailments such as stroke, heart disease, and lung cancer. Many air pollutants, like carbon dioxide, are also potent greenhouse gases that feed climate change.

That has made it all the more important for cities to improve their air quality, said Maria Neira, the Director of Environment, Climate Change and Health with the WHO.

“We need to reconsider the way we consume resources and the way our cities are built. This is at the heart of the future development of our society.”

Many urban areas are beginning to do exactly that. From implementing ultra-low emissions zones to banning cars, here are five cities that are taking innovative steps to clean their air.

1. Paris, France

The French capital has barred the most polluting vehicles from entering the city centre, banished cars from the Seine River quayside and reclaimed road space for trees and pedestrians.

With the onset of the COVID-19 pandemic, city officials recorded a significant drop in nitrogen dioxide — a pollutant emitted by vehicles; particulate matter— a potential cause of respiratory disease; and carbon dioxide. To solidify those gains, and give coronavirus-wary residents an alternative to driving, the city also expanded its network of bike lanes. Now, the mayor of Paris, Anne Hidalgo, is aiming to transform Paris into “a walkable city”, where the needs of residents can be met within a 15-minute stroll.

“Air pollution has been improved a lot in Paris,” said Karine Leger, director-general of Airparif, an organization that monitors air quality. “Since there is a link between COVID-19 and air pollution, improving air quality will also be a focal point in the attractiveness of the city for both tourism and economic activities in coming years.”  

2. Seoul, Republic of Korea

Korea has made headlines for its state-of-the-art campaign against air pollution. 5G-enabled autonomous robots scan industrial complexes to monitor air quality, while a satellite monitoring system offers real-time air quality data to the public.

City leaders have also announced plans to create the first “wind path forest” in Seoul, planting trees close together along rivers and roads to channel air into the city centre. The forest is expected to absorb particulate matter and bathe downtown Seoul in cooling breezes. The city has already transformed an abandoned viaduct above Seoul’s main railway station into an elevated arboretum.

By 2030 it hopes to increase green space by 30 per cent and make sustainable modes of transport, such as walking, biking, and public transportation, account for 80 per cent of trips.

3. New York CIty, United States of America

The concrete jungle of New York City is going green. In an effort to improve air quality, New York Governor Andrew Cuomo announced $1.4 billion in funding for renewable energy projects, including solar plants and wind farms, which will power 430,000 homes. It is the largest single commitment to renewable energy by a state in American history. The projects, which are expected to be in use by 2022, will reduce carbon emissions by 1.6 million metric tons, equivalent to taking 340,000 cars off the road.

In another first for the country, a congestion charge will be introduced for drivers in the Manhattan area. Cars passing by checkpoints in the city’s Midtown area will be charged $10-15. As well as aiming to reduce emissions by keeping cars off the road, the initiative is expected to raise $15 billion that will be reinvested in the public transport system.

4. Bogota, Colombia

With the onset of the COVID-19 lockdown, Bogota— like other cities— saw a dramatic drop in air pollution. Encouraged by this, the city has set out a series of initiatives to try to clean up its transport sector permanently, which Mayor Claudia López says is responsible for 70% of Bogotá’s air pollution. The city has plans to impose strict emissions standards on trucks and other heavy-polluting vehicles; develop a fully electric metro rail system capable of transporting its 8 million residents, and add an additional 60 kilometres to the existing 550 km bicycle paths. Since March 2020, the city has added 80 km, which the mayor says are being used constantly.

“We’re going to take advantage of the fact that the pandemic allowed us to speed up this agenda of clean air and pursue different modes of clean and green transportation,” said López.

5. Accra, Ghana

Accra, Ghana, became the first African city to join the BreatheLife campaign, a joint campaign by WHO, UN Environment Programme, World Bank and the Climate & Clean Air Coalition, to mobilize cities to act on air pollution.

The city is also part of the pilot of the WHO-Urban Health Initiative. Through it, the Ghana Health Services and the WHO work to encourage a switch from coal-based cookstoves to ones powered by gas or electricity in order to protect mothers and children from household smoke. They also run a sensitization initiative on the health impact of burning waste. According to WHO, if all open waste burning was stopped by 2030, 120 premature deaths could be avoided yearly.

“In our part of the world, air pollution is not prioritized as a health concern – even in the way we cook,” said the Mayor of Accra, Mohammed Adjei Sowah. “But the statistics are so staggering that we have to wake people up to take action. We have to talk about it loudly so that it becomes part of our discourse in the urban political space.”

UN Environment



Spread the love


Inquiry on General Babangida’s Involvement in Conventional Banking despite Introduction of Islamic Finance in Nigeria




Spread the love

Dear Editor,

I hope this letter finds you well. I am writing to express my curiosity and seek clarification on a matter that has caught my attention, specifically pertaining to General Babangida’s involvement in the conventional banking industry despite his role in introducing Islamic finance during the financial reforms of his military government in Nigeria. Vide your special article commemorating his 81st Birthday published in your esteemed news website:

It is indeed noteworthy that General Ibrahim Babangida played a pivotal role in shaping the economic landscape of Nigeria by introducing Islamic finance principles. It is fascinating to witness the implementation of Islamic finance in Nigeria, as it promotes principles that align with religious and ethical values. General Babangida’s efforts to introduce this form of finance were undoubtedly commendable, reflecting his commitment to establishing an alternative financial system that adheres to Islamic principles.

However, recent observations suggest his active participation in the conventional banking sector in Nigeria. Certainly, it is intriguing to see General Babangida’s continued involvement in the conventional banking industry, which operates under different principles. While some may argue that his involvement in both sectors is simply a matter of personal choice, it raises questions about the compatibility of his actions with the ideals and principles of Islamic finance. While the former is interest driven, the latter prohibits interest related transactions completely.

I wonder if General Babangida has ever publicly addressed this matter or explained his reasoning behind being active in both sectors. It would be enlightening to hear his perspective on how he reconciles his involvement in conventional banking with his efforts towards promoting Islamic finance. This has raised questions in my mind and perhaps in the minds of others as well.

I am keen to understand the rationale behind General Babangida’s dual engagement in both Islamic finance and conventional banking. Does this reflect a strategic approach to diversify Nigeria’s financial sector, or are there specific reasons behind his involvement in conventional banking despite advocating for Islamic finance principles?

Additionally, it would be interesting to explore the potential impact of his dual involvement on the perception and growth of Islamic finance in Nigeria. Does his presence in the conventional banking industry hinder the progress of Islamic finance, or does it have the potential to bridge the gap between the two sectors?

I believe that delving into these questions could provide valuable insights and generate constructive discussions within the Islamic finance community in Nigeria. By shedding light on General Babangida’s dual involvement and the potential implications, we can further enhance our understanding of the challenges and opportunities faced by the Islamic economy in our country.

Thank you for considering my questions, and I look forward to reading more about this topic in your esteemed Focus on Islamic Economy.



Abba Musa Mamman Lagos


Spread the love
Continue Reading


10 Megatrends Shaping the World in 2024




Spread the love

The report, “Navigating Megatrends Shaping Our Future in 2024”, was launched during the first day of the World Governments Summit (WGS) 2024, being held under the theme “Shaping Future Governments” from 12th-14th February in Dubai. The report examines the indicators that shape these megatrends, supported by evidence from today as well as future expectations. These trends inform decision-makers and foresight experts about various sectors and the potential opportunities in each.

Khalfan Belhoul, CEO of Dubai Future Foundation, said, “This report has been launched in line with DFF’s efforts to identify and communicate those trends with the most potential to shape opportunities and strengthen local and international partnerships to overcome current and future challenges.”

“The challenges that face us on our journey to the future require that we are agile enough to be able to adapt to rapid change. It is vital we pay attention to the signals we detect – only then can we be prepared to overcome challenges and seize opportunities. The World Governments Summit provides a platform for discussing these challenges and exploring the opportunities.”

Materials revolution

New types of materials will create a shift in the industry, with solutions based on artificial intelligence (AI) such as biopolymers, biorefineries, and chemical recycling paving the way. These solutions will facilitate the development of new biological and novel materials that could rival plastics.

Boundless Multidimensional Data

Enabled by developments such as 5G and 6G in addition to advanced connectivity, the availability of raw data will vastly increase. The Internet of Things (IoT) will continue being deployed in healthcare, agriculture, and smart cities, especially in the Middle East.

Technological Vulnerabilities

The cybersecurity sector will boom amid a sharp rise in smart home devices and wearable tech. According to a report by Allianz, the annual cost of ransomware is projected to reach around $265 billion by 2031. Meanwhile, the debate on the future of decentralised finance will continue.

Energy Boundaries

Advances in tech and the growing demand for energy will drive the pursuit of alternative sources of energy. Novel materials and machine intelligence will enhance current sources of energy, including their distribution around the world – and in space.

Saving Ecosystems

Approaches to conservation will be more interdisciplinary and future-focused, taking into account both societal and environmental factors. Driven by resource scarcity, climate change, and shifts in social values, environmental impact management will become increasingly holistic.

Borderless World – Fluid Economies

The world is witnessing a rise in unmediated transactions in finance, health, education, trade, services, and even space, which are blurring boundaries and creating more cross-border communities. Advances in communications, computing, and advanced machine intelligence will accelerate the creation of a borderless world that will change the way we work, live, and connect.

Digital Realities

The spread of 5G and 6G networks will enhance the applications of autonomous technologies and IoT. As quantum technologies become scalable and reliable, immersive experiences will become even more realistic.

Living with Autonomous Robots and Automation

Robotics and automation will increasingly be deployed across industries beyond automotive, manufacturing and supply chain logistics. This will provide opportunities for efficiency and innovation, although there will also be ethical challenges to address.

Future Humanity

New workplace norms will emerge, with people needing to adapt to non-traditional skill sets in areas such as digital literacy, communications, culture and sustainability.

Advanced Health and Nutrition

Accelerated progress in advanced machine intelligence, nano- and biotechnology, additive manufacturing, and IoT will transform health and nutrition, improving health and wellbeing for people of all ages. Technology will reduce, if not eradicate, some communicable and non-communicable diseases and enhance the sustainable use of and access to water and food.

Spread the love
Continue Reading


Africa’s New Online Foreign Exchange System will Enable Cross-border Payments in Local Currencies – what you need to know




Spread the love

The high cost of making cross border payments on the African continent has driven governments on the continent to seek options of settling trade and other transactions in local currencies. This has given birth to the Pan-African Payment and Settlement System which was formally launched in Accra, Ghana, in January 2022.  Development economist Christopher Adam, who has studied the exchange rate policies of African countries, answers some key questions.

Why are African countries exposed in the international currency market?

Three main reasons. First, African economies are small and as such are highly dependent on trade with the rest of the world. Their exports are dominated by primary commodities including oil and gas, minerals and cash crop agriculture. On the import side, they purchase a whole range of goods – from essential commodities not produced at home such as fooddrugs and medicines, to capital goods and energy. A large proportion of these are sourced from China and other major economies of the global north. But because African countries are small relative to their trading partners they rarely have the power to determine the prices of imports and exports. They are “price takers” in world markets. And with world prices being set in the major reserve currencies of the world (the US dollar, euro, yen and renminbi), African countries are exposed to movements in these world prices. Second, “intra-African” trade is still a relatively small proportion of the total trade of African countries.

Finally, since African countries’ currencies mostly can’t be directly exchanged in international transactions, the dollar remains the most widely used currency in trade, even between African countries.

What’s required for the system to get off the ground?

The basic idea of the system is to be able to settle trade between African countries without having to use the US dollar.  There are two major challenges with that. First, intra-African trade accounts for less than 15% of Africa’s exports at present (although supporters of the African Continental Free Trade Area expect this to grow significantly over the coming decades). The African payment system therefore does not eliminate the role of the dollar (or other foreign currencies) in trade settlement entirely.

The second issue is that trade is not balanced between African countries. For example, Kenya exports goods of higher total value to Ethiopia than it imports from Ethiopia. If Ethiopia paid in its own currency, Kenya would end up with Ethiopian currency that it didn’t need. Some form of settlement currency that is acceptable to all is required – most likely the US dollar.

What are the challenges and potential risks?

Since trade rarely occurs instantaneously, some institution in the trade financing chain carries the exchange rate risk. Because of the gap between placing an order for imports and receiving them to sell in the local economy, there is a risk that the value of local currency will change relative to the currency in which the import is denominated.

In the “old” system, this risk is borne by the trader because everything is priced in dollars. The local currency value of the income from exports or the local currency cost of imports will change with movements between the local currency and the dollar, but the banks and those counterparts pricing in the dollar are protected.

Under the new system the same allocation of risk will remain in “external trade”. This currency risk is also present for intra-African trade.

An important question for the new African payment system is: who bears the exchange risk if one African currency depreciates relative to another? Should the importer carry the risk, or the exporter? Can and should the African payment system bear this risk of exchange rate movements itself? Where both currencies are volatile, traders might still prefer the relative stability of settlement through the US dollar.

The success of this system also depends on scale. The more trade settlement is routed through it, the easier it will be to settle in local currencies. Large currency imbalances will be less common. But until the system achieves this scale, the African payment system will need a strong balance sheet so that traders and participants can have confidence that settlement will be swift and risk free. It is unclear at the moment how this is to be achieved.

What is the best case scenario?

If the system can address the trade imbalance problem, provide clarity on risk management and reach scale, it could be very successful. But this is all going to be driven by underlying economic performance. Improved settlement will help but what is really driving this is the structure of trade. The more the economies of Africa can develop intra-African trade and the less dependent they are on extra-African trade, the less will be dollar dependence in trade. This growth in trade depends to some degree on trade settlement and trade financing but much more on production, consumption, trade policy and fiscal policy.

Christopher Adam is a Professor of Development Economics, University of Oxford

Spread the love
Continue Reading


Copyright © 2023 Focus on Halal Economy | Powered by Africa Islamic Economic Foundation