A new @CarbonBubble report is a searing critique of the "dead man walking" state of global climate action, though couched very politely
Here’s - bluntly - some of what it really says
THREAD
Here’s - bluntly - some of what it really says
THREAD
Report: “In the decade since our original Unburnable Carbon report was published, much has changed and yet nothing has changed”
Restated: In the past 10 years, governments, politicians and businesses have talked more loudly about climate action, but done incredibly little
2/n
Restated: In the past 10 years, governments, politicians and businesses have talked more loudly about climate action, but done incredibly little
2/n
“This report shows the absolute urgency for governments to act; for regulators to intervene; and for investors to do their job of analysing and managing risk”
Restated: Governments, regulators and investors aren't doing the work and are standing in the way of climate action
3/n
Restated: Governments, regulators and investors aren't doing the work and are standing in the way of climate action
3/n
“Firstly, governments need to ensure that the debt and equity markets themselves are aligned with net zero and this has to start with no more coal, oil and gas IPOs or bond placements”
Restated: the capital markets are fuelling a worsening addiction to fossil fuels
4/n
Restated: the capital markets are fuelling a worsening addiction to fossil fuels
4/n
“The first carbon bubble report was written [10 years ago] as an appeal for regulators to intervene and ensure world’s key capital markets are stable and resilient to clearly rough times ahead”
Restated: Financial regulators have done almost nothing on climate for 10 years
5/n
Restated: Financial regulators have done almost nothing on climate for 10 years
5/n
“Over 10 years on, the Earth’s carbon budget is nearly entirely exhausted, and [...] we find that financial markets are still heavily entrenched in the fossil fuel system”
Restated: We are out of time and the financial markets are complicit in Big Oil’s obfuscation
6/n
Restated: We are out of time and the financial markets are complicit in Big Oil’s obfuscation
6/n
“Despite growing recognition of the problem, current global actions are implicitly accepting a higher likelihood of ecological disaster”
Restated: The #ClimateCrisis is getting worse, not better
7/n
Restated: The #ClimateCrisis is getting worse, not better
7/n
“We highlight the role of listings authorities; admissions panels of stock exchanges; bankers who prepare prospectuses; and regulators responsible for overseeing the content of prospectuses”
Restated: Bankers, lawyers and regulators are actively pre-empting climate action
8/n
Restated: Bankers, lawyers and regulators are actively pre-empting climate action
8/n
“To limit warming to 1.5°C, 90% of fossil fuel reserves must stay in the ground as unburnable carbon”
Restated: Forget about 1.5°C and 2°C. We are now fighting against 3°C of warming
9/n
Restated: Forget about 1.5°C and 2°C. We are now fighting against 3°C of warming
9/n
Full Carbon Tracker report: carbontracker.org/reports/unburn…
#climate #ActOnClimate #ClimateCrisis
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#climate #ActOnClimate #ClimateCrisis
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