News
African countries shouldn’t have to borrow money to fix climate damage they never caused – economist
As COP29 approaches, African nations urgently seek increased public finance for climate adaptation. The reliance on loans exacerbates their debt, impeding progress. Systemic biases and bureaucratic barriers hinder access to essential climate funding, demanding coordinated efforts.
Carlos Lopes, University of Cape Town
As we approach the global annual climate change conference, COP29, the need for increased public finance from the global north to address climate adaptation in Africa has become more urgent than ever.
However, framing the finance debate solely around this need risks deepening mistrust and downplaying the scale of the challenge. The financial burden of addressing climate change, coupled with limited fiscal space, creates a precarious situation for many African countries. African countries bear no historical responsibility for causing the climate crisis. However, they rely heavily on external financing to solve climate change problems.
Unfortunately, much external climate finance comes from loans rather than grants. This only worsens Africa’s debt burden. There is also not nearly enough money being channelled to Africa to pay for climate change adaptation.
At COP29, African negotiators will undoubtedly focus on reducing dependence on debt, and improving access to finance. I’m an economist who specialises in climate change and governance, with a long background at the United Nations and the African Union. Without robust commitments from public financial institutions, Africa will continue to face the dual crises of climate vulnerability and debt.
African countries must use COP29 to tackle systemic biases that inflate risk perceptions, minimise African achievements and inflate its problems. These biases drive up borrowing costs, and worsen commodity dependence.
The climate finance gap
The African Development Bank has estimated that Africa needs between US$1.3 trillion and US$1.6 trillion in total climate financing every year between 2020 and 2030. This will enable African countries to meet their commitments to reduce greenhouse gas emissions, known as nationally determined contributions.
The Global Center for Adaptation estimates that Africa requires at least US$52.7 billion annually for adaptation every year until 2035. However, this figure could rise to US$106 billion. This is because data gaps allow for double counting of financial contributions. There is also very little transparency about the real amounts of climate finance being disbursed. Because nationally determined contributions are focused on mitigation, carbon depletion tends to be measured without accurate calculations of the amount of emissions that are captured, or carbon that is conserved.
The United Nations Development Programme says that Africa’s nationally determined contributions mean the continent needs about US$2.8 trillion by 2030 for climate mitigation. However, Africa contributes only 4% of all greenhouse gas emissions currently. It needs funds for adaptation to adjust to climate change that is already changing the lives of many, rather than for mitigation.
But only about half of the climate finance received by Africa in 2022 was for adaptation (US$4.6 billion). The rest of the climate finance addressed mitigation or a mix of both, in line with the global north’s agenda.
Worse still, 64.5% of adaptation financing came from loans, which need to be repaid. This will increase the financial strain on African nations.
Loans versus grants for climate change adaptation
Multilateral financial institutions such as the International Monetary Fund (IMF) and the World Bank, and the Organisation for Economic Co-operation and Development through their Development Assistance Committee, handed out US$8.33 billion to Africa in 2022 for climate action. But most of this – US$5.4 billion – was loans. Only US$2.9 billion was grants, with a small fraction in equity investments.
These loans come with lower-than-market rates or extended repayment terms. But they still add to Africa’s external debt, which reached US$1.12 trillion in 2022. African countries’ debt repayments are twice what they get as climate finance.
The United Nations Framework Convention on Climate Change says developed countries are responsible for financing climate adaptation in vulnerable regions. But loans that create a huge debt burden only enrich global financial institutions at the expense of African countries.
The effects of climate change are causing unprecedented floods, drought and other disasters across Africa. Yet it is becoming more difficult for African countries to access the climate finance they need to adapt to a warming world.
Why is the situation worsening?
First, access to climate finance remains a bureaucratic nightmare with complex application processes. There also needs to be more transparency in fund allocation. The recently established Loss and Damage Fund could assist. It is meant to channel money to countries worst affected by climate change to pay for the damage caused.
Second, the focus on reforming Bretton Woods institutions and development finance institutions is shifting attention away from the obligations developed countries have signed up for. This distracts developing nations from making reforms in trade, taxation and financial regulations that could drive more meaningful results.
Third, there is a lack of liquidity (access to fresh money) needed to propel investment or allow countries to bridge their budget deficits. African countries are forced to juggle paying for healthcare, education and infrastructure development with paying back debt. Some spend more on debt repayments than healthcare.
Increased tax efficiency and domestic savings, such as the savings maintained by pension funds, could be used. This should be the priority while the fight for better international conditions continues.
Fourth, the distinction between development finance and climate finance is becoming an impediment to progress. The conversation should move away from getting African countries to prioritise greenhouse gas emission reductions at the expense of other development priorities. Climate action is under-implemented and underfunded. The focus must be on excessive dependency on aid and rather promote market incentives to encourage the private sector to invest in climate adaptation in Africa.
Fifth, African negotiators must address the structural barriers that limit access to finance. For example, biased risk perceptions by credit rating agencies prevent African countries from securing finance. Restrictive prudential rules from the Bank for International Settlements intended to preserve international financial system integrity have proven unfavourable to the transformation of the African economies.
Sixth, Africa should make use of regional climate finance platforms and set up cross-border climate change adaptation projects that benefit more than one country.
This will allow Africa to pool resources, coordinate demands and make it easier to negotiate better terms for climate finance. Just energy transition partnerships create an opportunity for countries to secure renewable energy funding for the transition from fossil fuel. Success will depend on effective coordination and regional solidarity in international climate negotiations.
Seventh, African countries have strong potential to use carbon markets to finance climate initiatives, provided they have control over them. Nature-based solutions can go hand in hand with reforestation, sustainable land management or conservation, while generating carbon credits. These are additional funding opportunities for climate adaptation efforts in Africa.
This moment demands bold leadership and a united front to rewrite the rules. African countries must secure the commitments and resources at COP29 that are needed to build a sustainable future.
Carlos Lopes, Professor at the Nelson Mandela School of Public Governance, University of Cape Town
This article is republished from The Conversation under a Creative Commons license. Read the original article.
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Economy
6 Wild Truths About America’s 2025 Spending Habits: Fetch Reveals Surprising Consumer Trends
The Fetch Finds Report reveals that in 2025, Americans balanced hard work with self-care, reflecting a mix of discipline and indulgence. Notable trends included a resurgence in meat sales, increased dining out, a focus on organization, and a rise in comfort-related purchases.
The Fetch Finds Report reveals a year of hustle, comfort, and delightfully chaotic shopping carts
Americans in 2025 were a study in contradictions. We hit the gym but also hit the couch. We decluttered our homes while filling our carts. We powered through demanding days with energy gels and powered down with weighted blankets and candles.
That’s the picture painted by Fetch’s first-ever full-year Fetch Finds Report, which analyzed more than $179 billion in consumer transactions. With 12 million receipts submitted daily, the data tells a story that’s equal parts discipline and indulgence—a snapshot of a nation trying to balance the hustle with some much-needed comfort.
6 Wild Truths About America’s 2025 Spending Habits: Fetch Reveals Surprising Consumer Trends
The Six Spending Surprises of 2025
1. The Meatless Revolution Has Expired
Remember when plant-based everything was the future? In 2025, Americans said “thanks, but no thanks” and brought meat back to the table. Fresh beef sales jumped 13%, pork climbed 12%, while refrigerated plant-based alternatives dropped 11%. Despite rising grocery costs, consumers chose the real deal over the meatless alternatives.
2. America’s Eating Out—and Sushi’s on a Roll
Even with tighter budgets, dining out surged. And the big winner? Sushi, with a massive 45.6% increase in trip growth. Mexican restaurants saw a respectable 13.9% bump, and pizza grew 6.7%. But sushi absolutely dominated the dining-out conversation this year.
3. Endurance Nutrition Takes a Victory Lap
Energy chews and gels jumped 27.4% in 2025. Whether Americans were actually running marathons or just trying to survive Monday morning meetings, endurance nutrition became a go-to for powering through demanding days.
4. The Great American Declutter Hit Overdrive
Self-care became shelf-care. Household storage bags surged 55.8%, charging valets climbed 37%, and cleaning gloves rose 13.4%. Getting organized wasn’t just about tidiness—it became an act of wellness. A clean space, a clear mind.
5. Protein Moved into the Pantry
Protein isn’t just for gym bros anymore. Everyday staples got a protein makeover:
- Protein-labeled breakfast cereals: +69.8%
- Protein granola: +45.9%
- Protein dry pasta: +35.4%
Consumers wanted their regular foods to work harder, turning breakfast and dinner into opportunities to fuel up.
6. America Powered Down and Got Comfortable
Comfort became the ultimate status symbol. Loungewear sales soared 218%, weighted blankets climbed 45%, and candles rose 20%. After all that hustle, Americans made winding down a priority—and they weren’t shy about investing in it.
What This Tells Us
The Fetch Finds Report captures something real about 2025: Americans were navigating a shifting economy with a mix of practicality and self-care. We pushed hard during the day and gave ourselves permission to relax at night. We organized our homes, fueled our bodies with protein, and treated ourselves to sushi dinners and cozy nights in.
“Fetch sees what others can’t: how people actually spend based on billions of purchases,” said Jacob Grocholski, Vice President of Analytics at Fetch. “This year, we saw a chaotic mix of discipline and indulgence that defined how people navigated 2025.”
About the Data
The findings come from Fetch, America’s Rewards App, which captures billions of spending transactions annually using AI and machine learning. With more than 6 million five-star reviews and users submitting 12 million receipts daily, Fetch has unmatched visibility into what consumers actually buy—at the item level, across every channel and retailer.
Want the full breakdown? Read the complete Fetch Finds Report for all the details on America’s 2025 spending habits.
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News
CES 2026: The Exhibitors and Moments That Stood Out for Entertainment + Tech Fans
CES 2026 delivered big entertainment-tech moments—from Sony Honda’s AFEELA to streaming, smart glasses, AI PCs, and robots that stole the show.
CES 2026 (Jan. 6–9 in Las Vegas) didn’t feel like a “future tech” show as much as a “right now” show. The big shift: AI wasn’t treated like a standalone product category anymore. It was the invisible layer powering everything from streaming discovery to robots that can actually do work.
For STM Daily News readers who live in the overlap of Entertainment and Tech, here are the exhibitors and trends that stood out most—plus why they matter beyond the show floor.
1) Sony Honda Mobility (AFEELA): The car as a rolling entertainment platform
Sony Honda Mobility’s AFEELA presence reinforced a direction CES keeps leaning into: the next generation of vehicles is competing as much on software and in-cabin experience as it is on horsepower.
What made it stand out:
- AFEELA represents the “car as a connected device” idea taken seriously—where the cabin becomes a screen-first, service-driven environment.
- It’s a clean example of how mobility and entertainment are merging: navigation, safety, personalization, and media all living in one interface.
2) Netflix + Amazon Prime Video + Roku + Xumo: Streaming is evolving into ecosystems
CES 2026’s Content & Entertainment story wasn’t about “who has the most subscribers.” It was about streaming as an ecosystem: bundling, ad-supported growth, and smarter discovery.
What made it stand out:
- CES highlighted how streaming platforms are pushing beyond simple libraries into bundles, premium originals, and integrated experiences.
- FAST (free ad-supported streaming TV) continues to gain traction, and device/platform players are positioning themselves as the front door.
3) Dolby: The quiet power behind the best-looking, best-sounding experiences
Dolby isn’t always the flashiest booth, but it consistently shows up as the tech that makes everything else feel “premium.”
What made it stand out:
- In a year where screens, XR, and immersive venues are everywhere, audio and imaging standards are the difference between “cool demo” and “wow.”
- Dolby’s relevance keeps growing as entertainment moves across phones, living rooms, cars, and wearables.
4) Meta + XREAL: Smart glasses keep inching toward mainstream
Wearables at CES 2026 weren’t just about steps and sleep. The momentum was in smart glasses and AR—especially as generative AI voice interfaces make hands-free use feel more natural.
What made it stand out:
- CES noted smart/AR glasses evolving with features like real-time translation, recording, and AI voice interfaces.
- For entertainment fans, this is where “watching” and “doing” start to blend—live overlays, creator tools, and new ways to capture experiences.
5) Samsung + LG + TCL: Screens are still the show’s main stage
Even in an AI-everywhere year, CES still belongs to display tech. Big brands kept proving that TVs aren’t just TVs—they’re hubs for gaming, streaming, smart home control, and ambient experiences.
What made it stand out:
- Display leaders continue to set the tone for how entertainment is consumed at home.
- The conversation is shifting from specs to experience: personalization, AI-powered recommendations, and multi-device continuity.
6) NVIDIA + AMD + Lenovo: The “AI PC” era is no longer theoretical
CES 2026 made it clear that the next wave of consumer computing is built around on-device AI. That matters for creators, editors, and anyone who lives in content.
What made it stand out:
- CES highlighted AI’s move from “digital transformation” to “intelligent transformation,” including edge/enterprise and physical AI in robotics.
- AMD’s CES keynote emphasized AI across devices from PCs to data centers, underscoring how quickly this is becoming standard.
7) Unitree + Richtech Robotics + Hyundai: Robots were the surprise crowd-pleaser
If CES 2026 had a “you had to see it” category, it was robotics. Not just novelty bots—machines built for real environments.
What made it stand out:
- CES framed robotics as “physical AI,” where generative AI and simulation training help robots learn faster than traditional programming.
- Humanoid robots, in particular, are moving from single-task demos toward more collaborative assistant roles.
The big takeaway for STM Daily News readers
CES 2026 wasn’t about one killer gadget. It was about convergence:
- Entertainment is becoming more interactive, more personalized, and more portable.
- Cars are becoming screens.
- Wearables are becoming interfaces.
- Robots are becoming the next “device category” people actually want to watch.
And underneath it all: AI is becoming less of a headline and more of the operating system for modern life.
Here’s a list of what stood out to us at CES 2026:
- Sony Honda Mobility (AFEELA): The car as a rolling entertainment platform
- Netflix + Amazon Prime Video + Roku + Xumo: Streaming is evolving into ecosystems
- Dolby: The quiet power behind the best-looking, best-sounding experiences
- Meta + XREAL: Smart glasses keep inching toward mainstream
- Samsung + LG + TCL: Screens are still the show’s main stage
- NVIDIA + AMD + Lenovo: The “AI PC” era is no longer theoretical
- Unitree + Richtech Robotics + Hyundai: Robots were the surprise crowd-pleaser
Sources
- CES press release recap and exhibitor/topic highlights (Jan. 9, 2026): https://www.ces.tech/press-releases/ces-2026-the-future-is-here
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actors & performers
T.K. Carter, The Thing and Punky Brewster Actor, Dies at 69
Actor T.K. Carter, known for The Thing and Punky Brewster, has died at age 69. A look at his career and lasting legacy in film and television.
T.K. Carter in Punky Brewster (1984) Image: IMDB
Veteran actor T.K. Carter, best known for his roles in The Thing and the popular 1980s television series Punky Brewster, has died at the age of 69.
Authorities confirmed Carter was found unresponsive at his home in Duarte, California. No foul play is suspected, and an official cause of death has not yet been released.
A Career Spanning Decades
Born Thomas Kent Carter, T.K. Carter built a career in film and television that spanned more than four decades. He became a cult favorite portraying Nauls in John Carpenter’s 1982 horror classic The Thing, a film that continues to influence the genre today.
Television audiences widely remember Carter for his role as Mike Fulton on Punky Brewster, where his comedic timing and grounded performances helped make the show a lasting favorite of the era.
Film and Television Legacy
In addition to his best-known roles, Carter appeared in films such as Runaway Train, Ski Patrol, and Space Jam. His television work included guest appearances on a wide range of series throughout the 1980s, 1990s, and beyond.
Known within the industry as a reliable and versatile performer, Carter often brought authenticity and warmth to supporting roles that left a lasting impression, even in brief appearances.
Remembering T.K. Carter
As news of his passing spreads, fans and colleagues alike are reflecting on T.K. Carter’s contributions to film and television. While he may not have always been the leading name on the marquee, his work helped shape stories that continue to be watched and appreciated by new generations.
T.K. Carter is remembered for his enduring performances, professional dedication, and the quiet but meaningful legacy he leaves behind.
Related Coverage
- Los Angeles Times: Actor T.K. Carter Dies at 69
- People Magazine: T.K. Carter, ‘The Thing’ and ‘Punky Brewster’ Actor, Dead at 69
- Entertainment Weekly: T.K. Carter, ‘Punky Brewster’ and ‘The Thing’ Actor, Dies
- ABC News: Veteran Actor T.K. Carter Dies at 69
Stay with STM Daily News for updates to this developing story and more independent coverage of entertainment, history, and culture. Visit www.stmdailynews.com for the latest.
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