“Americans have produced almost a quarter of the excess carbon in the atmosphere; a quarter of the damage should be on our tab,” billmckibben writes. “And yet we have not yet started to pay it.”
, seemed to indicate that coöperation between the carbon superpowers was back on some sort of track, after it was derailed by Nancy Pelosi’s visit to Taiwan. For now, the industrialized world is working on its own energy transformation.twenty-seventh Conference of the Parties
You can imagine the tension—the anger—that comes from watching your part of the world dry up or flood, knowing that the countries whose pollution caused your problems also have enough dollars to repair the damage. The moral argument couldn’t be more straightforward: Americans have produced almost a quarter of the excess carbon in the atmosphere; a quarter of the damage should be on our tab.
Basically, you need to figure out how to de-risk the investment, so that a pension fund feels as comfortable investing in an African solar farm as in a Kansas windmill, as John Kerryto me in October. And the tools for that de-risking belong to the multilateral development banks—the World Bank, the Asian Development Bank, the African Development Bank.
Surprisingly, this is a possibility. The U.S., by tradition, approves the selection of the World Bank president, and the current occupant of that chair, David Malpass, was put there by Donald Trump.
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