Banks and investors have already committed to financing more fossil fuel development than the planet’s atmosphere can safely absorb, according to London-based Carbon Tracker. If we have a chance of keeping average global heating below 1.5°C – a boundary scientists warn us we must not cross if we hope to prevent global catastrophe – many existing fossil fuel development plans will need to be abandoned. In other words, we are past the point of waiting. We must stop additional new fossil fuel development today.

Michael Northrop

Read full article by Michael Northrop in Environmental Finance

More articles

Oct 31 2024

Insurable losses from natural disasters – how have the numbers changed over the years?

by Terry Gangcuanco in Insurance Business Magazine….Canadian insurtech MyChoice has released a new study showing a sharp rise in insurable losses linked to...
Aug 22 2024

Chartbook 310 The shock of the new: Dollar dominance and modern monetary macro in the 1920s. (Hegemony note 5)

by Adam Tooze in Chartbook…The denaturing of the gold standard and the emergence of the new field of monetary macroeconomics combined to pose the question of...
Aug 10 2024

The ‘perfect storm’ of climate risks that is sinking your net worth

by Andrew Behar in Impactalpha…If we don’t all wake up – as a nation – to climate risk, homeowners will soon literally and financially be underwater.

Aug 01 2024

Food as you know it is about to change

by David Wallace-Wells in The New York Times…It can be tempting, in an age of apocalyptic imagination, to picture the most dire future climate scenarios: not just...
Aug 01 2024

Why shifting from prediction to foresight can help us plan for future disruption

by Roger Spitz in World Economic Forum…As the world becomes more complex, foresight methodologies account for a greater set of possible futures. Scenario...
Jul 25 2024

Paraphilanthropy: Giving money its freedom papers

by Bayo Akomolafe….What addressing philanthropy’s colonial legacies asks of this moment.

Jul 25 2024

The status of U.S. oil production: 2024 update everything shines by dimming

by Roger Blanchard in Resilience.org…The fact that U.S. oil production reached a very high level in 2023 and that so much of the production came from Texas made...
Jul 25 2024

A big solar company may be collapsing

by Alana Semuels in Time….One of the largest residential solar installers in the U.S. appears to be on the cusp of failing, the latest sign of the troubled...
Jul 13 2024

Is there a future in the doomsday economy?

by Alexander Nazaryan in The New York Times….With Fortitude Ranch, the entrepreneur Drew Miller is betting on franchised timeshares for people who are worried...
Jul 08 2024

The status of U.S. oil production: 2024 update everything shines by dimming

by Roger Blanchard in Resilience.org…To maximize profitability of deep water fields, the industry cranks up production rapidly to a high production level, say...