The first day of a COP is usually dominated by fights over the agenda

#COP28 avoided this battle, in part b/e the EU dropped its push for an agenda item on aligning all financial flows with climate goals.

Why does this goal matter? How can it secure broader support?

A 🧵: Context: Climate consistency of finance flows - the EU's abandoned agenda item - is one of the three long-term goals of the Paris Agreement, captured in Article 2.1(c).

But it's been on the backburner due to fights over climate finance - especially the unmet $100 billion pledge.

Around 60% of low-income countries are already in or near debt distress. 

60%.

📢 SIXTY PERCENT. 📢

How will soaring indebtedness affect climate action, particularly the negotiations at #COP27?

A thread 🧵 on climate finance with (I suspect) some unpopular views: 1/ First, why is debt rising?

From 2014-19, it was largely due to:

1️⃣ Historically low interest rates enabled countries to deploy riskier/more costly financing options.
2️⃣ Improved macro-fundamentals and stronger local debt markets enabled countries to borrow more.

Prime Minister Mottley of Barbados is in the spotlight at #COP27, but the Bridgetown Agenda is not the only movement working towards reform of the multilateral development banks.

What could the MDBs and their shareholders do differently? 🧵8 1/ It's important to recognise that MDBs are already major contributors to the $100 billion climate finance goal. Without their capacity to raise cheap capital and leverage their balance sheets, this target wouldn't even be in sight.

The UK has long been a real leader on climate policy, having roughly halved territorial emissions relative to 1990 levels.

It was therefore very disheartening to read about the UK's new energy strategy in parallel with the latest IPCC report this morning.

A gloomy 🧵: The IPCC: Nuclear power faces cost overruns, high upfront investment needs, challenges with final disposal of radioactive waste, and varying public acceptance and political support levels.

The UK: We will build up to eight new nuclear reactors.

Hey friends! We're all feeling apprehensive about the weeks and months ahead. I'm hoping to escape into books, and will be tweeting about one of my favourites every day. Please share your own recommendations!

#lockdownlibrary DAY 1: "My Family and Other Animals", by Gerald Durrell.

My favourite book of all time. The book that inspired me to study environmental science. That captures the magic and richness of the natural world like no other. That still makes me cry with laughter.

#lockdownlibrary

CHAPTER: The pathway to inclusive, zero-carbon cities. To hold temperature increases to no more than 1.5°C, science tells us that cities everywhere must reach net-zero CO2 emissions by mid-century. The #UrbanOpportunity report shows how to achieve that.