Climate Change
Ronald Bailey | 12.8.2023 3:05 PM
Dubai, United Arab Emirates—"A fast, fair, fully funded, and forever phase-out of fossil fuels" demanded climate activist Brandon Wu from ActionAid USA at a press conference today at the United Nations' 28th Climate Change Conference (COP28).
How fast? According a new report endorsed by ActionAid and 200 other activist groups, rich countries like the U.K. and the U.S. should forever cease all extraction of coal, oil, and natural gas by 2031.
What exactly does fair and fully funded mean? Greenpeace Regional Campaigns Manager Ahmed El Droubi at an earlier press conference convened by the 350.org activist group citing a June 2023 study suggested that the wealthy developed countries owe "$170 trillion in climate debt" to poor countries. For reference, world gross domestic product (GDP) in 2022 was just over $100 trillion. And it is worth considering how low world GDP would now stand if humanity had forsworn the vast........