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Farmers’ inclination to sell credits could hinder their corporate relationships, says business group
The ‘flickering’ of Earth systems is warning us: act now, or see our already degraded paradise lost | George Monbiot
When Rishi Sunak granted 27 new North Sea licences this week, he wasn’t thinking about the survival of the living world
Can you see it yet? The Earth systems horizon – the point at which our planetary systems tip into a new equilibrium, hostile to most lifeforms? I think we can. The sudden acceleration of environmental crises we have seen this year, coupled with the strategic uselessness of powerful governments, rushes us towards the point of no return.
We’re told we are living through the sixth mass extinction. But even this is a euphemism. We call such events mass extinctions because the most visible sign of the five previous catastrophes of the Phanerozoic era (since animals with hard body parts evolved) is the disappearance of fossils from the rocks. But their vanishing was a result of something even bigger. Mass extinction is a symptom of Earth systems collapse.
George Monbiot is a Guardian columnist
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French banks have financed $154bn to firms running biggest fossil fuel projects since 2015 climate pact
France is Europe’s biggest supporter of “carbon bomb” extraction projects that hold enough fossil fuels to pump out more than a gigaton of CO2 each, the Guardian can reveal.
Since world leaders gathered in the French capital to sign the Paris agreement in 2015 – where they promised to try to stop the planet heating by 1.5C above pre-industrial levels – French banks have financed companies planning or operating carbon bombs amounting to $154bn.
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Banks pumped more than $150bn in to companies running ‘carbon bomb’ projects in 2022
Exclusive: Projects that risk 1.5C heating target operated by companies receiving financing from European, Chinese and US banks
Banks pumped more than $150bn last year into companies whose giant “carbon bomb” projects could destroy the last chance of stopping the planet heating to dangerous levels, the Guardian can reveal.
The carbon bombs – 425 extraction projects that can each pump more than one gigaton of carbon dioxide into the atmosphere – cumulatively hold enough coal, oil and gas to burn through the rapidly dwindling carbon budget four times over. Between 2016 and 2022, banks mainly in the US, China and Europe gave $1.8tn in financing to the companies running them, new research shows.
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