Back in October 131 companies, worth a combined $1 trillion in revenue, joined in the Fossil to Clean campaign, sending a letter to urge the heads of state attending COP28 to commit to a full phase-out of unabated fossil fuels, a tripling of renewable energy and a doubling in the pace of energy efficiency reforms…………
The IMF, Carbon Pricing and Explicit and Implicit Fossil Fuels Subsidies Here are two terms that anyone who wants to preserve a stable climate needs to know: explicit fossil fuel subsidies and implicit fossil fuel subsidies. Explicit fossil fuel subsidies from governments directly reduce the price of fossil fuels, thus making it attractive to investors…
With heat extremes removing all doubt about climate change, let’s deal with the cause: Fossil fuels By Steve Valk With record-shattering heat making headlines around the world, this is a good time to connect some dots to see what’s behind the weather extremes affecting people this summer and what needs to be done to keep…
For about two months Citizens’ Climate International (CCI) volunteers from every continent have been preparing to have a dialogue with the World Bank about the need for reforms to make multilateral banks fit for the needs of the 21st century. The need for reform had been acknowledged and suggested by the US Treasury last year…
The outgoing UN High-Level Climate Action champion, Nigel Topping, has stated that the world could reach Net Zero by the early 2040s, reiterating what other bodies, including Citizens’ Climate International, have been saying. During the two years he was in office he working on encouraging businesses to join the UN Race to Zero initiative which…
The government is consulting on how it delivers its net zero target under the changed circumstances of the current global crisis. This consultation will be more important than previously envisaged since acceptance of the High Court ruling that the net zero strategy is unlawful means the strategy will have to be rewritten! We urgently need…
A Guardian report on the 5th October examines the predictions of a chapter in the current IMF half yearly World Economic Outlook report. It has a chapter titled Near-Term Macroeconomic Impact of Decarbonization Policies. The chapter models the cost of delaying the tackling of climate change until ‘conditions are right’ and current global inflation has…
Last year the IMF called for a globally applied carbon price floor corresponding to a country’s wealth, with a suggested tariff in 2021 of $75 for the wealthiest countries and $25 for less developed countries. Today in the Times (paywall) Mehreen Khan, the economics editor, makes the case for an effective international carbon pricing system rather…
CCI’s latest newsletter has further reflections on what was achieved at COP26. For the whole statement read Glasgow Pact invites historic race to enhanced climate action. From these statements and recent webinars it is clear that CCI is hugely encouraged by the completion of Article 6 ‘Paris Rulebook’ which will facilitate serious engagement with the…
Our monthly national meeting, a few days ago, focussed on the question of what CCL-UK should be doing in the few weeks between now and COP26. We were fortunate to have Joe Robertson (who will lead the International CCL delegation at COP) on the call to give us his opinions on the matter. I think…
