I am truly glad that the Glasgow Climate Pact mentions the need to phase out fossil fuel subsidies.
And I despair that this is the first time, in 27 years, that a final COP statement has included even a passing glance at fossil fuel subsidies. Because, well, it is a complete no-brainer that we have to leave the coal and oil in the ground, to have any hope of avoiding absolute climate chaos. The science is as clear as a contrail in the winter sky.
As the International Energy Agency states, to keep within the 1.5 degrees temperature limit, more than 40% of the world’s existing 8,500 coal plants will need to close by 2030, and no new ones can be built.
I am also glad that the COP 26 agreement calls for a “phase down” of coal, because, well – see above.
And I tear my hair out that the Pact did not commit to, or even call for, a phase out of coal – as it would have, but for the last-minute intervention of some developing countries. India, China and South Africa were the main culprits, reportedly.
But it is not only fossil fuel subsidies that have us in trouble. A report by three UN agencies says that 90% of the USD540 billion in subsidies given to farmers every year is bad for the environment. Beef and milk, which produce the most greenhouse gases, receive the largest subsidies. And, surprise, surprise, large industrial agricultural companies are best able to access the subsidies.
This level of system dysfunction cannot continue.
So that we all, starting with the most vulnerable amongst us, can have a future to look forward to, and so that our biosphere can continue to be bounteous
We need immediate subsidence on subsidies
So that we can continue to subsist.