As COP-26 is upon us, it is useful to reiterate the key issue the world faces. The REMAINING CARBON BUDGET for 1.5 deg. C and even for a reasonable chance of 2 deg. C, is severely limited. The reason for this is high HISTORICAL and CONTINUING EMISSIONS in rich countries. 
2/n ~1.07 deg. C warming that the world is already experiencing is a result of past emissions which are disproportionately from rich countries. Even since 1990 (post UNFCCC), these countries have continued to occupy disproportionately higher carbon space.
3/n After glossing over their inaction by diverting attention to what poorer countries should do, developed countries are now asking that we pat them on the back for declaring net-zero targets 30 years into the future. Action that was needed from them, yesterday.
4/n Rich countries are being helped in this charade by a multitude of first world agencies. Despite historical inaction, they are let off the hook because of intended action in the future. Developing countries are asked to do more. This, it is claimed, is an "opportunity".
5/n The argument is this: Investments in green technology (and a ban on investments in fossil fuels) in the third world, will help the third world, as it will prevent climate change and reduce impacts that are disproportionately faced by the Global South. And this is not all…
6/n Investors in rich countries will benefit from the profits that unexplored markets in the third world offer - Win-win! So essentially, the poor pay the rich for mitigating a problem caused by the rich and rejoice in the hope that this saves them from that same problem.
7/n If this is such an "opportunity", why has so little changed in the last 3 decades in the richest economies? Why are fossil fuel phase out plans so far into the future? How much of the remaining carbon budget are the rich countries going to consume till they reach net-zero?
8/n Their enhanced NDCs and net-zero declarations imply that US-UK-EU will occupy 31% of the remaining carbon budget for 1.5 deg. C (50% probability). China will occupy 89% of the budget. Yes, that adds up to 120%. Is 1.5 deg. Still Alive?
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