What was accomplished at the big UN climate conference in Poland? There is quite a bit of variance in the takeaways, depending on what one may have been hoping for. This link has a pretty good overview of the context and the main result. “The two-week-long UN talks in Poland ended with clarity over the “rulebook” that will govern how the Paris agreement of 2015 is put into action, but the crucial question of how to lift governments’ targets to reduce greenhouse gas emissions was left unanswered.”
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A Guardian editorial sees real progress in the fact that the set of rules agreed upon requires all nations to follow certain standards for the way they measure and report the emission cuts they have already pledged to carry out. “Minds will now turn to the next deadline: 2020, when countries must demonstrate that they have met old targets and set new, much tougher ones.”
–Reuters puts more emphasis on the fractious behavior that characterized most of the two-week meeting, and the fact that the rules had to be saved by a last-minute compromise in an overtime session. https://in.reuters.com/article/climate-change-accord/analysis-climate-talks-pass-baton-in-race-to-stop-global-warming-
BBC is in agreement about the importance of the transparency rules, but laments the lack of any sign of real ambition that could be agreed upon for doing more in the way of emission cuts.
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–Another well-known climate writer and activist, Australian Paul Gilding, has much more to say about the financial future of oil and gas companies that fail to completely transform themselves in a timely way, which he thinks will be common to most of them. This prospect could serve as a more practical type of reason for investors to reconsider their current holdings.
A quick look at how technology has fired up the Industrial Revolution, along with and just like the energy of fossil fuels. This chart shows the growth of world GDP per capita over 2000 years, getting a strong push from all the major inventions of just the last two hundred. It really is a different world from the one even our most recent ancestors knew.
Carl