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Denmark has become the first UN member state to pledge loss and damage finance: cash for developing countries to recover from climate losses and damages which couldn’t be adapted to. This is a critical milestone. While the amount pledged is small, the symbol is mighty. In practice, it will demonstrate what loss and damage support can look like on the ground. Part of the money is earmarked for innovative partnerships with civil society groups working to address loss and damage in affected countries. Another chunk is for an existing insurance initiative, which sponsors insurance in poorer countries. These mechanisms have been criticised by some campaigners who argue that poor nations are still left with a bill and that insurance isn’t a solution to slow-onset events such as sea-level rise. Who pays for damages caused by climate disasters remains a difficult conversation. Addressing the UN general assembly in New York, UN chief António Guterres sought to offer a solution. He told advanced economies to tax oil and gas companies’ windfall profits and channel some of the revenues to vulnerable nations recovering from climate impacts.But the most ambitious idea came from Barbados’ prime minister Mia Mottley: an overhaul of the financial systemthat, she says, can deliver trillions of dollars for investing in climate action and resilience. It will require reforming the IMF and the World Bank and a massive expansion of cheap lending to developing countries. Mottley tested out the plan with a select group of leaders during a retreat in Bridgetown this summer. This week, she took it to the rest of the world. Her plan will require the leadership of the top financial institutions. That of World Bank president David Malpass has come under serious questions. Malpass repeatedly refusedto say whether he accepts that burning fossil fuels is warming the planet during an interview with New York Times’ reporter David Gelles. The exchange sparked global outcry and widespread calls for the US, the bank’s largest shareholder, to push Malpass out. The Trump-appointed banker laterrowed back on his comments in an interview with CNN. Yet the row is unlikely to be forgotten quickly.....and more https://mailchi.mp/
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Would you put your child or grandchild on a plane that has a one chance in 20 of a disastrous crash? It’s hard imagining anyone doing that, but it is essentially what we are doing to our kids and grandkids by not raising our voices about climate change and the 1-in-20 chance that disaster lies ahead for them. It is bad enough that we are likely on the path to exceed the 3.6 degree Fahrenheit goal stated in the Paris Agreement, which will result in dire consequences such as increasing droughts and wildfires and inundation of low lying coastal areas because of sea level rise. If we continue on that path without taking the necessary actions to reduce greenhouse gas emissions, there is a 5 percent chance of catastrophic consequences — even an existential threat to humanity by mid-century, according to experts at the Scripps Institute. Would you put your child or grandchild on a plane that has a one chance in 20 of a disastrous crash? Think of one person who is much younger than you whom you care deeply about — a son, daughter, grandchild, sibling, niece, nephew — and whisper their name and put them on that plane and watch them take off on their journey. Then consider what their future holds given what is happening all around us — it’s getting warmer, large wildfires are more frequent in California, it’s getting too hot to fly planes out of Phoenix, there are more downpourshitting New York City and Boston, and Alaska is melting. And then consider what that younger person’s life journey looks like in a changing climate: It’s not going to get better. By attaching the name of someone you care about, it becomes personal and for many, strikes home. We care about our kids and grandkids. In the USA, there are an estimated49 million children under the age of 12, and more than 70 million who are under 18. They can’t vote, and few contribute to political causes or participate in political debates. They don’t have a lot of power, although they are gaining ground on their own in thecourts. They are depending on us to ensure a safe and prosperous future, like that air traffic controller who is keeping your loved one safe, but let’s take a look at what lies ahead for them. Ask yourself, what course, what flight plan, are we setting for their future? Our kids face the consequences of our choices.....read more https://www.usatoday.com/
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Financial meltdown, environmental disaster and even the rise of Donald Trump – neoliberalism has played its part in them all. Why has the left failed to come up with an alternative?.......The ideology that dominates our lives has, for most of us, no name. Mention it in conversation and you’ll be rewarded with a shrug. Even if your listeners have heard the term before, they will struggle to define it. Neoliberalism: do you know what it is? Its anonymity is both a symptom and cause of its power. It has played a major role in a remarkable variety of crises: the financial meltdownof 2007‑8, the offshoring of wealth and power, of which thePanama Papers offer us merely a glimpse, the slow collapse of public health and education, resurgent child poverty, the epidemic of loneliness, the collapse of ecosystems, the rise of Donald Trump. But we respond to these crises as if they emerge in isolation, apparently unaware that they have all been either catalysed or exacerbated by the same coherent philosophy; a philosophy that has – or had – a name. What greater power can there be than to operate namelessly? Inequality is recast as virtuous. The market ensures that everyone gets what they deserve. So pervasive has neoliberalism become that we seldom even recognise it as an ideology. We appear to accept the proposition that this utopian, millenarian faith describes a neutral force; a kind of biological law, like Darwin’s theory of evolution. But the philosophy arose as a conscious attempt to reshape human life and shift the locus of power. Neoliberalism sees competition as the defining characteristic of human relations. It redefines citizens as consumers, whose democratic choices are best exercised by buying and selling, a process that rewards merit and punishes inefficiency. It maintains that “the market” delivers benefits that could never be achieved by planning. Attempts to limit competition are treated as inimical to liberty. Tax and regulation should be minimised, public services should be privatised. The organisation of labour and collective bargaining by trade unionsare portrayed as market distortions that impede the formation of a natural hierarchy of winners and losers. Inequality is recast as virtuous: a reward for utility and a generator of wealth, which trickles down to enrich everyone. Efforts to create a more equal society are both counterproductive and morally corrosive. The market ensures that everyone gets what they deserve. We internalise and reproduce its creeds. The rich persuade themselves that they acquired their wealth through merit, ignoring the advantages – such as education, inheritance and class – that may have helped to secure it. The poor begin to blame themselves for their failures, even when they can do little to change their circumstances. Never mind structural unemployment: if you don’t have a job it’s because you are unenterprising. Never mind the impossible costs of housing: if your credit card is maxed out, you’re feckless and improvident. Never mind that your children no longer have a school playing field: if they get fat, it’s your fault. In a world governed by competition, those who fall behind become defined and self-defined as losers.....read much, much more https://www.theguardian.com/
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From Bill McKibbon (New Yorker) and published in the Guardian. Over those few years the world seemed to have swerved sharply away from democracy and toward autocracy – and in the process dramatically limited our ability to fight the climate crisis. Now that we’ve watched Russia launch an oil-fired invasion of Ukraine, it’s a little easier to see this trend in high relief – but Putin is far from the only case. Consider the examples. Brazil, in 2015 at Paris, had been led by Dilma Rousseff, of the Workers’ party, which had for the most part worked to limit deforestation in the Amazon. In some ways the country could claim to have done more than any other on climate damage, simply by slowing the cutting. But in 2021 Jair Bolsonaro was in charge, at the head of a government that empowered every big-time cattle rancher and mahogany poacher in the country. If people cared about the climate, he said, they could eat less and “poop every other day”. And if they cared about democracy, they could … go to jail. “Only God can take me from the presidency,” he explained ahead of this year’s elections. Vladimir Putin is a man whose power rests almost entirely on the production of stuff that you can burn. Sixty per cent of the export earnings that equipped his army came from oil and gas, and all the political clout that has cowed western Europe for decades came from his fingers on the gas spigot. He and his hideous war are the product of fossil fuel, and his fossil fuel interests have done much to corrupt the rest of the world. The US deep democratic deficits have long haunted climate negotiations, and the reason we have a system of voluntary pledges, not a binding global agreement, is that the world finally figured out there would never be 66 votes in the US Senate for a real treaty. Joe Biden had expected to arrive at the talks with the Build Back Better bill in his back pocket, slap it down on the table, and start a bidding war with the Chinese – but the other Joe, Manchin of West Virginia, the biggest single recipient of fossil fuel cash in DC, made sure that didn’t happen. Instead Biden showed up empty-handed and the talks fizzled. Putin’s grotesque war might be where some of these strands come together. It highlights the ways that fossil fuel builds autocracy, and the power that control of scarce supplies gives to autocrats. It’s also shown us the power of financial systems to put pressure on the most recalcitrant political leaders: Russia is being systematically and effectively punished by bankers and corporations, though as my Ukrainian colleague Svitlana Romanko and I pointed out recently, they could be doing far more. The shock of the war may also be strengthening the resolve and unity of the world’s remaining democracies and perhaps – one can hope – diminishing the attraction of would-be despots like Donald Trump. But we’ve got years, not decades, to get the climate crisis under some kind of control. We won’t get more moments like this. The brave people of Ukraine may be fighting for far more than they can know. https://www.theguardian.com/environment/2022/apr/11/putin-autocracies-fossil-fuels-climate-action?utm_campaign=Daily%20Briefing&utm_content=20220411&utm_medium=email&utm_source=Revue%20newsletter
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Posted November 27, 2021
The human community faces two momentous challenges today that will loom ever larger in the years ahead. One is to establish the social and economic conditions necessary for everyone on this planet to flourish: to live with dignity and purpose and fulfill their life’s potentials. The other is to safeguard the natural environment on which we depend from the callous harm caused by an economy dependent on unrestrained extraction and consumption. These challenges to our collective well-being are bound to grow in severity and urgency over the coming decades.
To meet them successfully calls for a transformation in the vectors that drive the economy both nationally and globally. Our current dominant economic system is pushing us toward a precipice, and we’re careening forward with hardly a thought for the plunge that lies ahead. If the model conforms to the contours of the real world, the policies that flow from it will be realistic, constructive, and socially benign. But if the model is rooted in a distorted picture of the world—a picture that omits some crucial features while giving excessive weight to others—it will lead to unwise policies that damage both the social fabric of our lives and the natural environment. That the model we currently work within involves severe distortions of the actual world, distortions in both its human and natural dimensions, is the crux of our present predicament. The economic model that reigns today is powerful, compelling, and logically rigorous, but as we can see from the inescapable global crises it repeatedly triggers, it is terribly flawed.
The model harbors inherent pathologies that infect both our social order and our relationships with nature. In the social dimension of our lives, the model leads to glaring inequalities in wealth and income, to violations of social equity, to pockets of deep poverty in the midst of plenty, to conflict and wars over vanishing resources. It divides the world into rival military camps that spend billions on weapons of deadly power while millions in their own lands live in utter poverty. Our relationship to the environment is even more vicious. This model promotes a purely utilitarian orientation to nature, an outlook that compels us to chip away at the fragile geophysical and biological pillars that sustain human civilization on this precious planet. If the destruction continues, everything we cherish is bound to collapse.
If we are to successfully resolve these two problems—to promote greater social and economic justice and to preserve a natural environment congenial to human well-being—we need a new economic model directed toward these two overriding objectives. The model must be governed not by mere quantitative measurements of production, growth, and financial profitability, but by standards that reflect a moral point of view. British economist Kay Raworth has proposed the outline of an alternative economic model that captures, in a clear visual image, the goalposts we must pursue to overcome the two interlocked hurdles facing humankind today. A Senior Associate at Oxford University’s Environmental Change Institute, where she teaches Environmental Change and Management, Raworth has designed a model she calls “doughnut economics.” She has presented this model at various conferences, in YouTube videos, on her website, and in a full-length book called Doughnut Economics, which the Financial Times selected as the best work on economics for 2017.
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