“. . . . Last week Michael Bloomberg committed $242 million to accelerate the adoption of clean energy in 10 countries across the developing world. (The pledge was on top of his commitment of $500 million to buy and close American coal plants.) Mark Carney — a former head of the Bank of Canada and the Bank of England who has taken to describing a 25 percent cut to global G.D.P. as his “base case” expectation for warming — has mobilized companies managing $130 trillion in a corporate alliance for net-zero emissions. The Glasgow agreement urged countries to double their commitments to financing adaptation in the developing world by 2025.
This isn’t nothing. But while philanthropy and finance’s move toward climate action is not an illusion, forensic accounting tells a more nuanced story: Even the headline pledges (which include a fair amount of greenwashed money alongside directed real climate investment) amount to less than a third of the spending necessary to meet the Paris goals, according to the International Energy Agency (and, being largely profit-minded investment, almost entirely neglect the financial needs of those devastated by climate impacts today). This new ambition is real, in other words, and worth celebrating, to greater or lesser degrees.
But as with so much of the climate crisis, finally moving in the right direction, in fits and starts toward only a certain set of opportunities, is not the same as solving the problem whole or giving the world a path to anything we might want to call success. A doubling of adaptation finance, even if fulfilled, could mean as much as $60 billion annually, for instance; the U.N. Environmental Program estimates needs of as much as $300 billion.” . . . .
David Lindsay: Good essay, thank you. Sorry the comments section closed after just 79 comments. I have a fantasy of working as a stand up comic, and saying to the audience, The only problem with the pandemic is that it didn’t kill nearly enough human beings. The ugly truth behind such gallows humor, is that scientists think the correct carrying capacity of humans on earth is probably about 4 billion, if we are going to not cause the sixth great extinction of species. Somehow, Wallace-Wells missed the opportunity to connect these dots. Failures to save human lives is never a completely bad thing, when worring about the horrid effects on other species, or human overpopulation and all their garbage and pollution.