COP28 ends with an agreement that signals the "beginning of the end" of the fossil fuel era.

COP28 closed today with an agreement that signals the “beginning of the end” of the fossil fuel era by laying the ground for a swift, just and equitable transition, underpinned by deep emissions cuts and scaled-up finance.

In a demonstration of global solidarity, negotiators from nearly 200 Parties came together in Dubai with a decision on the world’s first ‘global stocktake’ to ratchet up climate action before the end of the decade – with the overarching aim to keep the global temperature limit of 1.5°C within reach.

“Whilst we didn’t turn the page on the fossil fuel era in Dubai, this outcome is the beginning of the end,” said UN Climate Change Executive Secretary Simon Stiell in his closing speech. “Now all governments and businesses need to turn these pledges into real-economy outcomes, without delay.”Read the UN Climate Press Release

Geopolitics and the geometry of global trade

McKinsey Global Institute (MGI) published their latest research which looks at current evidence on trade patterns and what might happen in the future. Analysis includes:

The changing geometry of global on four dimensions: trade intensity, geographic distance, geopolitical distance, and import concentration. Since 2017, China, Germany, the United Kingdom, and the United States have each reduced the geopolitical distance of their trade by four to ten percent. The United States has also reduced the geographic distance and diversified the origins of its trade. Economies of the Association of Southeast Asian Nations, Brazil, and India are trading more across the geopolitical spectrum and over longer distances.

The interaction between these four dimensions. Trade between geopolitically distant economies accounts for nearly 20 percent of global goods trade but close to 40 percent of trade in globally concentrated products—products such as laptops and iron ore for which three or fewer economies provide at least 90 percent of global exports. 

What does this mean for businesses? 

Business leaders need to position their organizations for uncertainty. This positioning can involve cultivating an insights edge, anticipating and adapting with scenario planning, developing a portfolio of strategic actions, and building geopolitical muscle. Businesses can also embrace cooperation to contribute to, and help shape, the discourse on the evolution of global connections. Read the full report here:Geopolitics and the geometry of global trade


World Bank Report shows positive trend in Human Capital Index in West Africa

The Human Capital Index (HCI) combines indicators of health and education into a measure of the human capital that a child born today can expect to obtain by their 18th birthday, on a scale from 0 to 1. Higher values indicate higher expected human capital. World Bank Report shows improvements across countries in West Africa, notably, Ghana, Togo, Senegal and The Gambia. The "Africa of tomorrow is built in our schools today." 

But more remains to be done to preserve human capital in the region. Millions of children remain out school or cannot read and understand a simple text by the time they reach the age of 11. There should be coordinated effort between governments and private sector to strengthen policies, institutions and investments that improve development outcomes. The Africa Human Capital Plan Year 3 Progress Report.

What We’re Still Getting Wrong About Performance Management

This article by a talent expert explains the nuances between measuring and improving performance and how creates problems for organisations who try to incorporate both into a cohesive assessment of an employee's performance. 

"Measuring and improving performance are two separate objectives best achieved through two distinct processes."

How should organisations tackle this issue?

Performance management needs to be completely rebuilt with two distinct processes to measure and accelerate employee performance: separate processes with separate outcomes. Employees win by getting more attention from their managers; managers win by removing the time-consuming, emotionally burdensome traditional appraisal process; and the organization wins by getting more real-time access to performance data and improved employee performance.

Read the full analysis here: What We're Still Getting Wrong About Performance Management.