The root of the climate crisis is “not capitalism but the corruption of capitalism”, according to the author of a new book on how people, policy and technology are working to stop the planet from heating. Akshat Rathi, a climate reporter with financial news outlet Bloomberg, argues that smart policies can harness capitalism to cut carbon pollution without killing markets or competition. “It is now cheaper to save the world than destroy it,” he writes, adding that this holds true even when viewed through a narrow capitalist lens. “Capitalism cannot…
Tag: Climate crisis
World’s renewable energy capacity grew at record pace in 2023
Global renewable energy capacity grew by the fastest pace recorded in the last 20 years in 2023, which could put the world within reach of meeting a key climate target by the end of the decade, according to the International Energy Agency (IEA). The world’s renewable energy grew by 50% last year to 510 gigawatts (GW) in 2023, the 22nd year in a row that renewable capacity additions set a new record, according to figures from the IEA. The “spectacular” growth offers a “real chance” of global governments meeting a…
The world in 2024: Guardian writers on what to look out for
The year 2024 will be a critical one. The future of Gaza and the West Bank may hinge in part on whether Donald Trump returns to the White House – as may the outcome of the war in Ukraine. China will be locked in a race against time as its population ages. And the natural world will reach a new series of tipping points. But there are some reasons for cautious optimism. With so much happening, it can be hard to know where to look. Here Guardian correspondents offer their…
Cop28: China ‘would like to see agreement to substitute renewables for fossil fuels’
China would like to see nations agree to substitute renewable energy for fossil fuels, the country’s chief climate official has said, as nations wrangled over the weekend on the wording of a deal on the climate crisis. Xie Zhenhua, China’s climate envoy, would not be explicit on whether China supported or opposed a phase-out of fossil fuels, which more than 100 governments are pushing for at crucial climate talks, the Cop28 UN summit. But he did indicate that he and his delegation were engaging positively to try to find a…
Visualised: how all of G20 is missing climate goals — but some nations are closer than others
Not a single G20 country has policies in place that are consistent with the Paris agreement’s goal of limiting global heating to 1.5C and meeting their “fair share” of emissions reduction. The assessment, based on data up to 5 December provided by the Climate Action Tracker, comes as leaders gather in Dubai for the Cop28 conference. It assesses each country against its “fair share” contribution to the effort to reduce greenhouse gas emissions, taking into account considerations such as the historical emissions of higher-income countries, which may increase their responsibility…
EU climate chief: China must help fund rescue of poorer nations hit by disaster
China and other big developing nations must pay into a fund to rescue poor countries stricken by the climate disaster, the EU’s climate chief has said as world leaders prepare to gather in Dubai for a crucial climate summit. Wopke Hoekstra, EU commissioner for climate action, said there was no longer any reason to exclude big emerging economies with high greenhouse gas emissions such as China and petrostates in the Gulf from the obligation to provide aid to the poorest and most vulnerable countries. “We need so much more money…
From China’s emissions to Australia’s offshore windfarms, things are moving on climate – some even in the right direction | Adam Morton
If you’re searching for some hope on the climate crisis before the Cop28 UN meeting in Dubai this month, try this: China may be changing direction on pollution earlier than expected. Lauri Myllyvirta, a longtime China analyst now with the Centre for Research on Energy and Clean Air, calculated that CO2 emissions from the world’s biggest national polluter are likely to fall next year and could then go into “structural decline”. While the country’s emissions have increased this year – unsurprisingly, given that Beijing lifted zero-Covid controls at the end…
US and China’s joint climate plan leaves key questions unanswered
The US and China’s decision to rekindle a joint effort to tackle the climate crisis has provided sorely needed momentum ahead of crucial UN climate talks later this month, while still leaving some key questions unresolved around calling an end to the fossil fuel era. The difficult relationship between the world’s two largest carbon emitters has somewhat thawed over the issue of global heating, with both sides indicating they see it as a shared menace set aside from other tensions around trade or the status of Taiwan. The US and…
Carbon credits at risk of link to Uyghur forced labour bought by BP and Spotify
BP and Spotify were among companies who bought carbon credits at risk of being implicated in potential Uyghur forced labour, an investigation has found. The credits were sourced from the Bachu carbon project, which was developed by South Pole, the world’s largest carbon consultancy. The project focussed on a biomass power plant in Xinjiang, China, which said it would lower global carbon emissions by using waste cotton stalks from nearby fields to generate electricity. South Pole, whose chief executive, Renat Heuberger, stood down on Friday, marketed credits for their employment…
Aukus will ‘get done’ despite jitters in Congress, Biden tells Albanese at White House meeting
Joe Biden has played down congressional jitters over the Aukus nuclear-powered submarine deal and has revealed he assured Xi Jinping that the countries involved are not aiming to “surround China”. The US president welcomed the Australian prime minister, Anthony Albanese, to the White House and insisted he was “confident that we’re going to be able to get the money for Aukus because it’s overwhelmingly in our interest”. “So the question is not if, but when,” Biden said during a joint press conference with Albanese in the rose garden on Wednesday…