Developing countries are most vulnerable to the devastating impacts of climate change. It is therefore of utmost importance to empower these countries to cope with the loss and damage already happening as a consequence of climate change. However, next to these necessary adaptation measures it is also important to mention, that the Global South can accelerate the economic development along a green trajectory while reducing poverty through the development of renewable energies. This has to be taken into account when discussing the design of newly emerging international funding mechanisms such as the Green Climate Fund (GCF) of the United Nations Framework Convention on Climate Change (UNFCCC).
November 12, 2013 No Comments
It’s not every day I find myself on the same side of the fence as market liberals. After all, markets work well only until they fail. (And when it comes to the climate they have failed miserably.) But there is one thing we see eye-to-eye on: the damage done by fossil fuel subsidies.
This concurrence was recently highlighted by a US Republican House staffer who argued that fiscal conservatives are, by definition, natural supporters of phasing out fossil fuel subsidies. [Read more →]
July 17, 2013 No Comments
Some very good news last week: Dutch bank Rabobank and Norwegian financial services group Storebrand are the latest companies to withdraw their investments in fossil fuels.
Storebrand will pull its investments away from 13 coal and six oil sands enterprises, while Rabobank will ban loans to “unconventional” energy projects, namely the extraction of shale gas and oil sands. It will also stop lending money to farmers who lease their land to shale gas extraction companies.
July 15, 2013 No Comments