number kena, but it's not working his fault. this is all of africa today. there is not a country where there is no problem. this problem covers all of africa. as the violence worsens in this, a hail refuge is harder to come by. so they stay here hoping to avoid the next attack in countries struggling to support them. charlotte bellis al jazeera. ah, and these are the headlines pull the closing in a few of these parliamentary election prime minister abbey mids. first electoral test. this boat has been postponed though, in 3 regions, including tig right where the government is fighting rebels. runs, president elect says all nations that signed the 2015 nuclear, you must return to the agreement. for me as president donald trump pulled the us out of the deal in 2018. and his 1st news conference in winning front is election. abraham rice, the also ruled out a meeting with joe biden, that tucker,

how did you don't mind how him can i interrupt action with all countries will be back in any negotiation that is going to be the benefit of the nation will be supported. but negotiation should have an achievement for the great nation of iran and its people who call johan care al stance is that all signatory should return to the 2015 agreement and abide by their commitments. we are asking the europeans not to be pressured or influenced by the americans. our people want their rights to be revived. supporters of armies acting prime minister, holding a victory rally right now in yet as on the one sunday snap parliamentary election, nicole passions party got many 54 percent of the votes. he calls that early polls, ease public anger over the peace deal he signed. so in the war with as a, by john last year the european union, the u. s. the u. k, and canada of all extended sanctions against better ruth. and was there freezing the assets of dozens of allies of president alexander lucas shanker and also

hitting them with travel bands was targeted or accused of election fraud and involvement in the subsequent crackdown on protest. spain's prime minister says he plans to pardon 9 j o capital on separative leaders hetero. sanchez says he intends to release that group on tuesday. met with protests and buffalo nor the separatists were convicted in addition in 2019 for their role in the regions failed independence bid for the 7 and threatens prime minister stefan lawson lost a no confidence motion in parliament. the social democratic leader now has a week to either resign or call us nap election. the right wing sweden, democrats called that no confidence vote last week. after the government lost the support of the left party in sweden. alright, you are up to date with the news on al jazeera, next business, and economics counting the cost with hollow hitting it's just

again, it's a way of life. every, every shows, every gum brings us together. we travel since miles. so we can say we would, we flew every month and going with a game exist unique and together. it's more than just getting 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 niger areas, business capital both are still congested. moving to the water, east traffic jams, ah, well, china states is sounds, the factory of the worlds is under threats. note from the united states, which along with its g 7 partners, is looking at ways to slow it's economic dominance. but from an internal threats falling birthrates demographics, really, master fewer babies been fewer workers to power factories and economic growth in the 1980 s japan was looking like it would overtake the united states to become the

biggest economy. but that's all fell apart. partly as its working population 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 isn't alone in face and challenges to its full and birth rates. it's a similar picture in many developed countries, germany to south korea. and then i just states the population grew at slowest rates since the great depression in the last decades. and it's 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 countries 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 lowest pace in decades since 2010, it expired by 5.38 percent to 1410000000 people falling short of the government target of one point for 2 adult say china is facing a demographic time bomb and the numbers may be lower than reported to what you do. you know, in the 198025000000 babies were born every year. last year the figure was 12000000 . even if you believe this number is less than half of what was the workforce is declining quickly,

and china is losing its all make by polity. 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 slightly moving birth rate. families are having fewer children. why govern efforts to boost the birthright by ending the one child policy, which feeds in 2014 liberty soon directed john moore was find more than $1000000.00

for having 3 children. though these penalties no longer apply, china's rising cost of living remains of barrier 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's 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 sense if big is or an accurate one shred yet accept the 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 and research associates. so as china institute loan is also currently working on a world bank from the program about china's demographics, so 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 claim stands up to scrutiny. hi, ala, thanks for having me. 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, they'll 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, in a major urban center that big enough to have your one child plus possibly your parents at some point is incredibly expensive. level. 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 called care is one aspect, but also is 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 with no pension at all 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, 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. 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, adriece reports, investment bank. believe me, could you go to la, moved to lagos from nigeria, se 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 i 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 the doctor says and then it will 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 costs that are more than 6000000 motor vehicle. yeah. and they got a 50 or more than 20000000 people. and that means coffee congested with perhaps

what not surprisingly, can affect business. so the government here is invested in waterfront or in an 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 on us. so we live in the sub bob, the co 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 release 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 that appears 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 ta gets for their own businesses. the majority of banks, insurers and asset managers are failing to apply the same scarcity to greenhouse gas emissions of bird portfolio, as, according to research by environmental consultancy cd pay, which says greenhouse gas emissions from may 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, as 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. well, let's unpack all the numbers with emily crept the global director of capital markets at cdp. and emily jones is 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 client's portfolio was, 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 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. and 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 good 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 tactically, 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 is, is we focus 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 i, 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 refer bow 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 to them concealed the reports for a stumble. sir balter runs a chain of small hotels in a storm,

most historic sort that up at district like many others here. he's preparing to reopen after a 15 month on closure because it's depend on the current of virus called taurus, numbers and revenue to slump by 2 thirds last year. and the government is 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 big potential about to request. actually if we start with exceptions with the 4 to 540 percent to bonuses and the target is 2, not 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 to under the show cause yet it 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 theresa coming today, this will that week. i didn't see better days. we worn out on the many are looking 7 cancelled following an increase in coverage 19 infections in georgia. last month and travel warning the elijah family from the united things had planned to visit an april, but postponed the trip for a month due to 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 holes at flights, and turkey is also on britons travel read list solutions with moscow has sword, after anchor, discuss military support with give over a 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 is expected to resume like the turkey in late june, an uncle reg specs, a similar move by britain. after a native summit on june 14th gillem, g, a political pensions, it still won't be certain, it can reach a school of 30000000 visitors. st. i'm castillo. l 0. sample about is our show for this week. 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

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