The bill, if passed, would force the Conservative UK government to implement 10-year public investment plan with a view to “decarbonise the United Kingdom economy and to eradicate inequality”.
The IGCC, a group that represents institutional investors such as super funds, with total funds under management of about $2tn, has told its members Morrison’s “climate solutions package” won’t change the current trajectory of rising emissions because it is “small scale and unlikely to be a durable policy framework through time”.
The Green New Deal borrows its name and ethos from the New Deal – introduced in the 1930s by then US president Franklin D Roosevelt to kickstart an economy crippled by the Great Depression. But are strategies which echo the needs of the 1930s and 1940s – ending the Depression and defeating Nazism – suitable for the rapid transition from fossil fuels that defines our needs in the early 21st century?
Costa Rica is one of the few developing countries to have submitted an absolute and unconditional target for cutting emissions by 2030 under the Paris climate agreement, according to Climate Action Tracker. It aims to keep net emissions below 9.37 million tonnes of CO2 equivalent by 2030, which would amount to a 25% reduction from 2012 levels.