Droughts are becoming more frequent and severe due to climate change and land degradation. Building national and regional risk management systems that can endure what is coming will require political will and more international cooperation.
Standardised disclosure rules across the United States will ensure a level playing field, and is in line with what other markets are doing. As it stands, the huge variations in the type and quality of data firms reveal only breed confusion.
The potential of countries' climate policies to damage other countries' economies has not received as much attention as it deserves. Without proper international coordination, well-intended measures in major economies could further widen the income and welfare gap between rich and poor countries.