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Posted on Nov 14, 03:57PM | UNI
Global challenges such as pandemics, refugees flows, transnational crimes and climate change demand updated global institutions fit for the 21st Century, said UN Development Programme (UNDP) Administrator Helen Clark.
"We live in an era of unprecedented globalization and interdependence, in which global public goods cannot be secured and protected by any single nation and emerging threats and challenges require coordinated responses," Ms Clark said in a statement issued by UNDP here today.
"UNDP is acutely aware of how crises generated in the developed countries quickly spread affecting the poorest and most distant nations, which saw weaker demand and lower prices for their exports, higher volatility in capital flows and commodity prices and lower remittances," she said.
Ms Clark, the former Prime Minister of New Zealand and the first woman to lead the organisation (UNDP) maintained that greater global financial stability is unlikely without more coordination of financial regulation and oversight.
"Global warming, the spread of pandemics, cyber-war and transnational crime, trade barriers, and the flow of refugees and other migrants will all be challenges in the 21st Century," she said, adding "Those with the least power and voice to influence solutions tend to sustain the most damaging blows." "One of the most visible 21st Century challenges is climate change. Coordinated action to combat global warming is badly needed, and the risks from failing to tackle the problem effectively are high," she said.
"It would be a tragedy for future generations if leaders today prove incapable of taking the bold decisions needed to stop catastrophic and irreversible change to the world's climate," she said.