On power and paper tigers.

Bitingly cynical from Tooze.
adamtooze.substack.com/p/chartbook-26…

Even going by proponents' optimistic analysis, carbon offset proposals are projected to raise tens to a hundred-odd of billion dollars a year.

Those who hold an optimistic view about carbon credits should come up with evidence they can raise trillions.
ft.com/content/b07edf…

Yes, we need to stop the construction of new coal plants around the world (👀China)

But slowing retirements in the OECD is more worrying

We have to finish the job - no time to take our eyes off this prize

Good effort these... dotted around World Bank HQ

'Innovative funding sources' mooted by UN Climate Change in 2007. A cynic might say it's 2024 and we're still discussing ideas proposed by Yvo de Boer et al nearly 20 years ago.

🚨 New: US pushed behind scenes for approval of corporate carbon offset plan

Advisers to John Kerry heavily lobbied the world’s top corporate climate targets oversight group SBTi to reverse its opposition to the use of controversial carbon credits

ft.com/content/b07edf…

'this is failure, failure on a spectacular scale, failure for hundreds of millions of people, failure driven by the core logic of our economic system—the pursuit of profit by huge volumes of private capital—a core logic that public institutions systematically fail to counteract'

We have most of the tools to reach net zero in our hands right now. It’s up to us whether we choose to use them, or not.

We can have lots of arguments about regulatory and political barriers. Believe me, it is most of what I think about on this topic these days!

But please, let’s drop the scaremongering that we can’t scale up to meet the challenge of climate change. We have already scaled up!

This is insanely good news.

For those keeping track, 660GW of solar panels per year is what we need to be producing — in 2030! — to get on a path to net zero.

It’s what China *on its own* is producing *right now* in 2024.

Back from the IMF/World Bank Spring meetings, where — six weeks after the beginning of the work at the G20 on a coordinated taxation of the super-rich — there was palpable 'tax the rich' energy in the room

A few notable developments 🧵

“It’s an open secret that Axel van Trotsenburg’s old-guard ways are major blockers to climate progress and debt reform at the World Bank,” said Andrew Nazdin, director of GAT. “The debt crisis and climate crisis are getting worse every minute that passes, we need leaders who are

Today we held an early retirement party for Axel van Trotsenburg 🎊🎊🎊

It’s been fun, but we think it's time for Axel to step up for the climate or step aside.

glasgowactions.com/axe-axel

The Columbia Law School Human Rights Institute stands with students exercising their fundamental human rights and calls on Columbia University to protect rights to expression and assembly: hri.law.columbia.edu/hri-statement

Apologies, this one is a little dark.

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'2023 was a disaster in terms of support for the developing world... the private sector collected $68 billion more in interest and principal repayments than it lent to the developing world'
project-syndicate.org/commentary/imf…

HAPPENING NOW: “V20 Ministerial Dialogue XII: Unlocking Growth and Prosperity through Innovations in Climate Finance and Debt” in Washington, D.C. Stay tuned for live updates. #WBmeetings #IMFmeetings

Two amazing Global South progressives and a Nobel prize winner walk into an Oxfam panel on post-neoliberalism

New piece looks at the state of play on US international climate finance:
-What Congress appropriated in FY24
-What President Biden requested for FY25
-Unpacking Department of State reporting on total 🇺🇸 climate finance
-The narrow pathway to deliver Biden's $11.4bn pledge
nrdc.org/bio/joe-thwait…

New piece looks at the state of play on US international climate finance:
-What Congress appropriated in FY24
-What President Biden requested for FY25
-Unpacking Department of State reporting on total 🇺🇸 climate finance
-The narrow pathway to deliver Biden's $11.4bn pledge
nrdc.org/bio/joe-thwait…