Countries behave badly in Poland, investors behave well

It was a strange decision to hold the UNFCCC’s Conference of Parties (COP24) in Katowice, Poland, deep in Poland’s coal mining territory. The main purpose of the conference is to finalize the implementation guidelines of the Paris Agreement.

The conference also received the special report on achieving a 1.5°C global average temperature rise prepared on request by the IPCC. While I had some reservations about the whole exercise, the report a strong wake up call on the need for more urgent cuts. Fossil fuels had to be wound back rapidly. This from Dr. Joeri Rogelj, of the International Institute for Applied Systems Analysis in Austria: