Climate Action or Imposed Energy Poverty? The Hypocrisy of COP26 Fossil Fuel International Finance Bans
On 09.12.2021 by Jonah MessingerBy the end of the United Nations (UN) COP26 climate conference, almost forty nations and finance institutions, the vast majority of which are North American or European, agreed to ban public financing for international fossil fuel projects by 2022. Notably, the agreement neglected to apply such measures to the signatory countries themselves. If acted upon, this ban will likely hinder economic growth and cast doubt on aspirations for modernity in much of the developing world. This agreement pins the burden of decarbonization on the very nations least responsible for global warming and in most need of economic development.