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    carbon tax

    Chairperson of the African Union Commission Moussa Faki Mahamat (R) receives Senegalese President Macky Sall (C) at the Africa Climate Summit 2023

    African Climate Leaders Say Nairobi Summit Fell Victim to Corporate Interests, False Solutions

    "The solutions do not lie with private capital and the age-old profit driven model," said one advocate.

    Julia Conley
    Sep 08, 2023

    The historic Africa Climate Summit held in Nairobi, Kenya this week marked the first time leaders from across the continent convened to focus on the climate crisis, but campaigners on Friday said the voices of the most vulnerable were largely silenced during the three-day summit while leaders drafted a declaration that critics say fell prey to "distracting false solutions."

    While the Nairobi Declaration on Climate Change and Call to Action was applauded by advocates for its call to boost Africa's renewable energy capacity to 300 gigawatts (GW) by 2030, critics said leaders across the continent showed they are still too eager to bend to the interests and desires of the fossil fuel industry and its financial backers.

    Keep ReadingShow Less
    News
    climate emergency
    passengers toast champagne on a private jet

    Wealthiest 10% of US Households Responsible for 40% of Greenhouse Gas Emissions: Study

    "Without policies such as regulations or taxes on very polluting investments, it's unlikely that wealthy individuals making a lot of money from fossil fuel investments will stop investing in them," says one economist.

    Brett Wilkins
    Aug 17, 2023

    The richest tenth of U.S. households are responsible for 40% of all the nation's greenhouse gas emissions, a study published Thursday revealed, underscoring what progressives say is the need for regulations and taxes on carbon-intensive investments.

    Published in PLOS Climate, the study—which was led by University of Massachusetts, Amherst sustainability scientist Jared Starr—analyzed 30 years of U.S. household income data and the greenhouse gas emissions generated in creating that income.

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    News
    greenhouse gas emissions
    Ration Fossil Fuels to Fight the Climate Crisis

    Ration Fossil Fuels to Fight the Climate Crisis

    In the wake of cap-and-trade’s failure to reduce emissions, “the cap-and-ration” approach establishes a cap that declines over time to eliminate dependency “in a way that ensures sufficiency, equity, and justice for all.”

    John Feffer
    May 23, 2023

    The burning of fossil fuels—oil, coal, natural gas—is responsible for nearly 90% of global carbon emissions. Despite almost-universal recognition of the need to reduce the use of those fossil fuels, the industrialized world is having the hardest time breaking its addiction. The economic rebound from the Covid-19 shutdowns generated the largest ever increase in global emissions from fossil fuels in 2021—around 2 billion tons. The increase in 2022 was considerably more modest—thanks to a surge in renewable energy investments—but it was an increase nonetheless. Meanwhile, subsidies for fossil fuel consumption rose to a record $1 trillion last year.

    The prevailing approach to reducing dependency on fossil fuels has been price-based—either by way of a carbon tax or some form of emissions trading scheme. Around two dozen countries levy carbon taxes: establishing a price for carbon and making emitters pay that price per unit of carbon consumed. Meanwhile, under the various “cap-and-trade” systems in place in the European Union and other places, a “cap” on emissions is established through the issuance of permits. But industries can exceed their “cap” by simply paying a penalty, while those that don’t use the full value of their permit can effectively sell their allowance to others.

    Keep ReadingShow Less
    Opinion
    fossil fuels

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