Asking for a climate income to tackle climate change.
On Wednesday UN Secretary General Antonio Guterres made his most hard hitting condemnation of the fossil fuel industry ever. Citing the latest European Commission Copernicus Climate Change Service report showing last month was the hottest May in history, the UN chief said global emissions need to fall nine per cent every year just to keep the…
Green Party MP Caroline Lucas has written an article in Business Green (paywall), (summary in Carbon Brief) about the pointlessness of the Offshore Petroleum Licensing Bill. She points out that annual licensing rounds can and already do happen, so no new legislation is needed; it is just “a political stunt that will harm the UK’s…
While we anxiously await the final outcome of COP28 here’s what IMF head Kristalina Georgieva said earlier about the obvious solution to finding the finance to decarbonise the world. It has been estimated that developing countries will require $2 tn pa to decarbonise, mitigate and adapt (the IMF estimates the global economy is worth about…
Today the Times reported that “The floods that devastated Brechin were not predicted to hit for another 60 years, according to climate change modelling by Scotland’s environmental watchdog”. The 2021 Scottish Environmental Protection Agency (Sepa) flood risk plan had estimated that about 440 homes and businesses in Brechin would be liable to flooding by the…
Rosebank has been given the go ahead today despite the repeated warnings of the IEA. The approval is in no small part due to the fact that there is no price on pollution at the point of production. Ironically the windfall tax has not disincentivised further development because the “investment allowance” allows companies to claim…
COP27 was, as probably expected, not as successful as hoped, with the usual last minute compromises and climb downs. Alok Sharma was once again, visibly upset… “Emissions peaking before 2025 as the science tells us is necessary? Not in this text,”… “Clear follow-through on the phase-down of coal? Not in this text. Clear commitment to…
Was COP26 a success? Ask me again in a few years. As expected, the COP failed to produce adequate finance for developing nations whilst the combined emissions pledges of the world’s governments do not, yet, come near to the cuts required to avoid catastrophic climate change. However, the “Paris Rulebook” was completed which means that…
The first week of the COP26 was a roller coaster of major announcements and frustrations around access. The Glasgow Financial Alliance for Net Zero (GFANZ) now includes 450 institutions controlling $130 trillion that will begin to align with science-based net zero targets. This could have a transformational impact on the mobilization of private-sector capital, and also on…
This is what I’m thinking of asking my MP after getting a reply to my email asking for her and her party’s position on carbon pricing that just lists a load of things her party, Labour, will do to tackle climate change, but doesn’t mention carbon pricing at all, and I’ve barely heard any mention…
In a new paper the IMF estimates global subsidies for fossil fuel energy implied by the underpricing of supply and environmental costs at a staggering $5.2 trillion in 2017, or 6.5 percent of world GDP
