far sheets of also frozen millions of dollars in company offense. reports of the arrests like to cues that new stance to buy the latest edition of the paper. now, a replica of leonardo da vinci marlisa sold a parish auction for more than $3400000.00. the artwork known as hacking, learned lisa went under the hammer for 10 times its auction estimate. the former owner raymond, hacking spent decades trying to convince the well version of the mona lisa that he owned was the real one. and the live version was a forgery. ah, look at the main stories now and the polls and runs presidential election of clothes with the hotline head of the judiciary and brian rice. the widely tip to when turn out is reportedly low with opposition. parties calling for a boy causes a poll after several candidates were excluded from running. i said bag is in ron

polling station that stayed open past midnight. there's been a final pushed by some nice the reform mr. murder to get people to do a protest vote. in support of him at the but it's still not clear cut what the vote to turn out will be we are in the capital. the captain has about 8000000 people, half the country. they're over 59000000 eligible voters. so they're on is essentially iran and north, they're on their own. there's many different differences here. so it's still very difficult to help out in the headlines that palestinian health ministry is rejecting a vaccine exchange deal with israel. israel had agreed to provide a 1000000 doses of the pfizer corona vars vaccine in return for an equal amount later this year. the palestinian authority says the vaccines had an expiration date sooner than had been agreed. the climate of talk and after the medical

technical teens received the 1st patch to vaccine to saving, they found that they did not match the technical specifications that we had agreed earlier. we contacted the prime minister and the decision was made to deal with canceled. and we will remain committed to buying enough vaccines for our people and depression 5 to provide the vaccines as early as possible. governments across europe scaling by plans to ease restrictions as the delta very into the krona virus spreads the variances by 90 percent of new cases in the u. k, which are at the highest level since february. moscow has a record high of 9000 new cases and algebra seen an advance copy of a new you and report on children. an armed conflict meant to name and shame parties committing gray violations against children, serious government, me and was military and yemen who the rebels are among those names. those are the top stories that fit for myself and the team here in london. for now, we'll be back tomorrow,

counting the cost is the program coming up next. from talk to al jazeera, we can the army were attacking ringer, and now they're attacking everyone in me on my do you regret? well, it's like we listen. absolutely. nigeria with a woman present, it would be great. we meet with global news makers and talk about the stories that matter on sir. ah, hello, i'm how am i here in this is counting the cost on al jazeera. you're look at the world of business and economics this week, china of aging population, the country will become the 1st nation in history to go before it becomes rich. have a political ideology, have filled the country. also this week, as the g 7,

rehash climate change commitment to deliver $100000000000.00 a year to poorer nations. we take a look at how the financial industry is failing to live up to green ideals, despite massive investments in booth and rail, and nike areas. business capital both are still congested. moving to the water, east traffic jams ah, well, china states is sounds the factory of the world is under threats. note from the united states, which along with its g 7 partners, is looking at ways to slow with economic dominance, but from an internal threats falling birthrates demographics really matter. fewer babies been fewer workers to power factories and economic growth back in the 1980 japan was looking like it would overtake the united states to become the biggest

economy, but that's all fell apart. partly as it's working, popular sion began to shrink. well, china looks likely to become the biggest economy by the end of the decades. holding on to that position could become challenging the fast rise in india, which has no limits on the number of children. couples can have. beijing has lifted the t child limits because there were only 12000000 berths in china and 2020 than 18 percent annually. and the 4th street year of the coins, the country's population currently at 1400000000 is expected to peak by 2025. again, states wide range of economic and political dominance, it may come as a surprise that beijing is actively engaged in changing the demographic make up of see young, which the united states is called genocide. it's birth control policies, could carts up to 4500000 births as the weaker and other ethnic minorities in the region within 20 years. as, according to new analysis,

by respect to german research or adrian's ends, china isn't alone in facing challenges. it's fallen birth rates, it's a similar picture in many developed countries, germany to south korea. and then i said, states the population grew at slowest rates since the great depression in the last decade. and its birth rate declined for the 6 straight year last year. but europe in the united states have to some extent, been able to cancer full and birth rates through immigration, with china tightening its security group on hong kong. immigration isn't much of an option of aging. so with fewer people entering the workforce, it means less taxes to look after the elderly, beijing's already looking at increasing the retirement age as katrina you reports of aging. one surely in is 44 and look forward to retiring at the age of 50. but she may need to wait a little longer. the chinese government is set to raise the age of retirement by at

least 5 years. just one of the policy changes expected in response to the country's rapidly aging society. to do that, i couldn't accept my retirement to being delayed much longer. i was very concerned why heard this news? according to the results of a once in a decade census, china's population is growing and growing at its slowest pace. in decades since 2010, it expanded by 5.38 percent to 1.4. 1000000000 people falling short of the government target of 1.4 to abilene. say china is facing a demographic time bomb, and the numbers may be lower than reported to what you do. in the 98025000000 babies were born every year. last year, the figure was 12000000. even if you believe this number is less than half of what the was, the workforce is declining quickly, and china is losing. by policy,

the population is expected to shrink as early as 2022. this will impact china's ability to compete with other countries. and analysts say this could hom, china's economic growth be what it india this will lead to the chinese economy losing its vitality. there is an aging problem with threat has not only china's economy, but his defense and foreign policy. previously, the chinese government predict the economy would be double in 2035. compare with 2020, but that will be mission impossible. now. china's labor 4th will lose an estimated $35000000.00 workers over the next 5 years. people are also living longer, putting immense pressure on china's pension and health system. almost 20 percent of the population of over the age of 60. china's aging crisis with me was moving back right. families are having fewer children. why govern to boost the birthright by ending the one child policy which feeds in 2014 liberty film directed young,

was find more than $1000000.00 for having 3 children. though these penalties no longer apply, china's rising cost of living remains a barrier to families. many are unable to afford having more than one child. increasingly, education, women are also putting off all foregoing having children together, largely because of workplace discrimination. the real problem is actually the long term career. there is no really social arrangement or government support for women with children and how their career should be rebooted. the government is under pressure too bad and child limits altogether. some say it's too late. populations in china's northeast are already shrinking. beijing is focusing on what it says are positive changes, increased urbanized ation and high levels of education. it's dismissed claims. it's census figures are inaccurate. one shred yet except that policy changes are coming

. but hope's work is like her will end up better and not worse off. katrina, you al jazeera aging. right, let's get some analysis now with dr. lauren jones, the research associate at so us china institute loan is also currently working on a world bank from the program about china's demographics or just the person really to speak to you about this. and 1st of all, what says do we mean when we say that china will get old before it gets rich and decent not claims stands up to scrutiny. hi, ala, thanks for having me. on the old before rich phrase care was arrived at in the 1980s because of the one child policy. china could extrapolate how or at least on average, how quickly the population would grow or decline over the next decade. and they realize there was absolutely no probable growth rate. that meant china's economy would become an industrialized and high income economy before the population aging

process had begun. and before china's working age population began to shrink. and so for years and years, china has been really worried that by getting old 1st, that will never get rich because they will need to reallocate money towards pensions in health care without having yet reach the economic frontier. and you know, there be wage inflation. and so on. so you know, this, but is a problem the, the thing is there are some countries struggling under the weight of having a large share of old. and there are others that have managed to enter the high income country, even when they're all of our career mold. i think she may have fallen out again. so actually many countries today get rich off to their old, but you have to have the appropriate policy set. it's a, it's a very finely balanced dynamic, isn't it?

so do you think that the decision that china is taking night like 3 children rather than the previous one or perhaps see it will not help the country or is it too little too late? it's definitely a marginal live at a late stage of the demographic transition. which is the process of moving from high morbidity to low mobility and high fertility to low fertility. it depends what kind of ambition is. so china wants its population to continue growing rapidly, then, or start re growing rapidly, then yes, it's far too little too late. many people are not having one child, but certainly few having to and even fewer having 3. so i think the 3 child policies ack, see more. so i'm that china wants to give a small number of families, the choice to have 3 if they want them. but it's not actually because china is

seeking to recreate and to continue to have this very, very large population and large population growth. so maybe they've even accepted that population declined for some period might be their future prospect. now we heard that report from our corresponded beijing that some people simply don't want to have more than one child because we can't afford c r. do you think china should tackle that? they're going to need to offer a lot more than just tax cuts to get the, the numbers where they want to be. shaw chinese society is super competitive and very expensive and that's urban frontier today. so housing is, is expensive if you want to have even one child affording a house in a major urban center the big enough to have your one child plus possibly your parents at some point is incredibly expensive. learn to have a how big enough for 2 or 3 children. and then of course there's

a lot of discrimination against mothers in the workplace. still. possibly the chinese government could help that by stepping into fund maternity leave, rather than expecting companies to fund maternity leave, for example. and other reforms could include child care. for example, there's very little child care in cities. so again, unless you can afford the space to have your, your mother very close or you know, so on, then it can be expensive to take care of a child alone, 2 or 3. so subsidized child care would be another area that trying to kind of both . well, health care is one aspect, but also we will need to take into account reforms to pensions and health care provision. because this is also a source of tension in the country. not least because of the different social structures within chinese society. what are your thoughts on that?

definitely, there's a, an incredible amount of pension inequality. it is a many people would know pensioner or a tiny negro pension and there's some typically state employees in the rich urban centers who have quite generous pensions. which some argue is compensation for them having accepted a lower wage during their lifetime. but the, the challenge for china is to sustain like, how can you have a fair pension system that's fair to the current old people, but also fair to the future of the country. because once you have, you know, 35 percent or so of your country in retirement, it becomes very, very difficult to be able to afford their pensions without derailing the whole economy. and so this is the balance and then you have the issue of inequality between pension is as well as between generations and so on. so there's really,

there's a whole lot of faxes in this, in this story like super challenging to manage across generations. and between rich and, and poor within china, dr. lauren johnson research associates at the source china institute. thank you. thanks so much for having me. a holler of great talk to the traffic problems in nigeria, the largest city have been growing as fast as this population where it goes. residence, described, long, uncomfortable, are sitting on the grid long roads. now the government's looking at waterways as a potential solution from lagos. i'm the driest reports investment bank because you go to le, moved to lagos from nigeria capital 4 months ago to foss truck arise in korea. but she soon found she has to trade suddenly comforts of our previous office to realize her dream in nigeria as most popular city effects. as i had a lot,

then i'm supposed to be also doing i me own so most of the time and just consider myself the weekend is almost, it's almost just with this saturday to sleep it all off. like millions of like us residents. she must, you and your long hours in traffic getting to and from work extra say the city's population continues to grow faster than any other in the country. passenger safety is a concern, and that's pushing many residents to buy their own cause. with that, probably what you said, that is reliable that you saw what you said you saw it. without that we will contribute to how profit problem in they got it. well, as long as the population is high, last cost people are able to afford private cars. that are more than 6000000 motor vehicle. yeah. and they got a 50 or more than 20000000 people. and that means coffee. some justice with perhaps what not surprisingly can affect business. so the government here is invested in

waterfront or in attempt to take some of the pressure off the little i de luca jetty, isaac albany to print 2 minutes to get to work by boat. that saved him 3 hours. if you were to take a bus on a normal day, our preferred in what way? you really got everybody's on the road. everybody's done. you know, so we living above the core, do i'm some what i was privileged to be he had this by the increasing number, taking boat, the gridlock on lagos, roads continue to defy solutions, legal stuff. it was so many stuck in traffic nigeria as 1st traffic radio station, tries to lighten the mood and provide regular updates on congestion. was staff receiving information from offices on the road when they give us information on

august 14th for me, sean, our job is to just so really house to be forgiving the power reduce that is also interactivity as drivers and commuters calling to report incident businesses in the city continue to count losses in labor hours and revenue, and with the population growing, there are fears, nigeria, commercial capital may soon reach breaking point. i'm a decrease algebra, lagos, nigeria, and the growing number of financial institutions is settings 0 emissions talk for their own businesses. the majority of banks, insurers and asset managers are failing to apply the same scarcity to greenhouse gas emissions of their portfolio, as, according to research by environmental consultancy cd pay, which says greenhouse gas emissions from a financial institutions portfolio are on average $700.00 times greater than their own on the hassle of the schools and financial institutions and only 27 percent of

insurers are taking action to align their portfolios to well below 2 degrees celsius. the consensus agreed long scientists to limit climate change and according to coalition of non governmental agencies, the both biggest 60 banks have provided $3.00 trillion dollars financing for fossil fuel companies since the paris climate deal in 2015. let some pack all the numbers with emily crept the global director of capital markets at cdp and emily jones's now from new york. just 1st of all, why our financial institutions spending a lot of their time and money of breeding their credentials, but failing to tackle their clients. portfolio is why is this? well, good morning. hello, thank you so much for having me. i think from a financial institutions perspective, the, it's easier to start addressing the positive and the opportunity side of the financial institutions. but as they start to understand the impact their portfolios

and how investors in the market will measure that impact, they're starting to look at how they measure the financed emissions. the impact that they have of financing other companies. is it easier to divest than to challenge companies that are slow and moving along the climate track? well, it may be easier to divest, but it's really a risk transfer issue. and one of the concerns that we had as an environmental on profit is really to say, how does that risk transfer? and even if $11.00 bank were to divest their exposure, there will be someone else to pick it up. and so as we look at this from a planetary boundaries perspective, that divestment doesn't achieve what we need to with the paris agreement. so as a bank, if you look at a purely financial terms, as a bank looks to die best, that's a risk transfer both from a business risk and a physical risk transfer that should arguably put be put into the price. and i think that we will see a stop it from an activist perspective in terms of chasing those assets and ensuring that they really are transitioning so that we need to get to a one and

a half degree warming scenario by 2050. having some success stories, notably head on the engine number one, they've taken 3 board seats. so an excellence at boards. do you think this is a sign of things to come? are we likely to see more activist funds and are polluters on notice? i think we are, so it's c d p we're, we're an environmental nonprofit that runs a global environmental disclosure platform for the past 20 years. one of the 1st questions we've been asking for 20 years of any company that discloses to us is what the board oversight a board governance is on environmental issues. and what's very interesting, and you'll see in the report is a number of financial institutions. i'll talk about the board oversight, but then the question is, are the boards moving fast enough? one of the interesting things about the exxon case is that not only have we seen the shareholders step up because they themselves, that made commitments to ensuring that they're getting both the information and the

action that they need from the companies. but also we've seen the banks themselves saying we need to understand what the impact is that we're financing, and we need to make sure that there are credible members of the board who are having good oversight. so i do not expect this trend to, to bait anytime soon. i know when it comes to like the shale, they're particularly keens, offloads, their nigerian oil assets, and they're all reports that they're getting ready to sell some of their us oil producing assets. do you think that's a thing because when these oil assets are in, private hands are no longer being scrutinized by shareholders or environmentalists? well, actually i disagree. i think that even if the assets do transfer into private him, that we do have a community of that tacitly observant shareholders and watchdog to will continue to look after these assets as they move from hand to hand. so i

can't speak very specifically to, to show strategy here, but i think that even as they think about risk transfer, that that risk transfer will, will also be followed from a, an environmental accounting. now we're just coming off the back of the, the g 7 summit. it would be you think of what k nice if that, that summits in particular, this re hashed to be packaged commitments from the g 7 to provide $100000000000.00 a year. is a poorer nations? well, i think it's, it's really important for us to, to have an equitable approach to, to supporting a transition to a low carbon economy. now what we're seeing, as is we focused on from a forward looking perspective, is that we need to transition. so this isn't just about the companies that are currently high letters or low emitters, but we need to put in place the infrastructure, the, the processes and ideally invest in the solutions to, to transfer to, to

a low carbon emission. so when we see the developing countries, the developed countries, part me step up to put more money at work, it's encouraging. but the question really comment cop 26 and glasgow this this fall it to see is this really going to result in further commitments from both the developed and developing world fascinating stuff. we keep a very close eye on that. of course. different emily crept school director of capital markets at cdp. thank you so much for your thoughts, your analysis. thank you for having me. i turkey is hoping to reserve or recover this summer. it's been removed from germany's list of high risk destinations, but others like the u. k and russia are still advising against visiting the country . and of course, you know the reports for stumble. sardar balter runs a chain of small hotels in almost historic something up at district,

like many others here. he's preparing to reopen after a 15 month on closure because if depend on the current a virus called tourist numbers and revenue to slump by 2 thirds last year. and the government is the vaccinating tours on workers and a stair tract at least $30000000.00 visitors. this year and revenue of $23000000000.00. but sir, dar and other operators say that's too optimistic. of course we don't way to be potential about to request. actually. if we start with the exceptions we did for 3540 percent to bonuses and the target is to know the profit actually, but another minus and off to mount will be good for the next months. jealous ganga. re partially reopen his restaurant a week ago. i mean, it is,

but this by some financial support from the government. he's struggling to keep going from the to the child unit. there are very few tourist now. it's very quiet during the week and just a bit lively on weekends. it's not satisfying. we've been spending out of pocket for the last one and a half years. the thing teresa coming today, this or that week, i didn't see better days. we worn out on the many are looking 7 cancelled following an increase in 19 infections and try to last small and travel warning. the elijah family from the united states had planned to visit an april, but postponed the trip for a month. you took turkey imposing, good luck on. they say they visit, it's been worth it for us. it's good enough. it's not empty to feel like we're isn't. and it's not over to crowded to feel, to feel scared. the presence of paper don't say some countries restrictions on

travel to turkey or political. the country's main source of visitors. russia has halted florida and turkey is also on britons travel read list solutions with moscow . has sword after anchor, discuss military support with give over, build up a fresh military forces on the border with the grain. and the enter key are also at odds over oil and gas exploration. in the eastern mediterranean, russia expected to resume like the turkey in late june. an uncle expects a similar move by britain after a native some it's on june 14th, but gillem g, a political pensions. it's still won't fit, and it can reach a school of 30000000 visitors. seen i'm castillo. alpha 0 stumbled about is our show for this week. and there's more for you online. i'll just have a dot com slash ctc that will take you straight to page entire episode to catch up on that for this edition. all kinds of course, on home,

in the whole team for joining us, use on our to for the for some, a robot is a mechanical or even that self driving train of the apple. but androids today can be over the humanoid. robots like, me, will be everywhere else. 0 documentaries, next laid on the weird and wonderful world of robot that learn think, feel, and even trust. i feel like i'm alive, but i know i am a machine. origins of this nation. coming soon on out here. in february 2021, the crippling storm took down, texas is power grid. 4000000 people plunged into darkness with no heating. many died from hypothermia with hundreds suffering from carbon monoxide poisoning,

as they tried to stay with them any way they could plunge investigates where the use of the regulation and prioritizing profits led to the state's power grid failure. the texas blackout on a jesse era, what's most important to me is talking to people understanding what they're going through here. it just either we believe everyone has a story worth hearing. ah . a john set a new direction for iran poles in a closed in the presidential election. cool emerge. has the country's new leader. ah hello and welcome i peter w. are watching out the are alive from our headquarters here. also coming up. no

deal. a vaccine exchange agreement between israel and palestine is off the table near expired vaccines.