Accountancy is the distraction international climate institutions pursue. They err because reducing emissions would imply devaluing the fossil fuel assets of powerful actors. 🧵

#assets #assetStranding #carbonPricing #fossilFuels #carbonCredits #offsets #industrialPolicy #climatePolicy #economy #windfallProfits #carbon

"The cause of climate change is the extraction and combustion of fossil fuels. But instead of focusing on the fundamental root cause, we’ve been focused on the interim product, emissions.
"But what I show in the book is that managing tons is an extremely narrow and technical understanding of the problem of climate change."

Jessica Green: https://yaleclimateconnections.org/2026/03/the-big-flaw-in-climate-policy-were-trying-to-solve-the-wrong-problem/

#assets #carbonPricing #fossilFuels #carbonCredits #offsets #industrialPolicy #climatePolicy #economy #windfallProfits

@ApaulD
Yes, everything you say resonates loud & clear. Why don’t they [Big Oil, Big Gas] surprise us all by agreeing pleasantly to share their “windfall profits” with the country that hosts them? (Don’t answer: rhetorical!)

#bigOil #bigGas #AusPol #windfallProfits #profitSharing #profiteering

#EU senior diplomats meeting on Wednesday agreed a compromise on using the estimated €4.4bn #WindfallProfits to aid #Ukraine, smoothing over a dispute about #Taxation and #ManagementCosts in #Belgium, the country where most of the frozen assets are held.

The EU deal opens the door to a broader discussion in the #G7 about using #Russia’s frozen billions of assets,

EU reaches deal on using profits from Russia’s frozen assets for Ukraine
https://www.theguardian.com/world/article/2024/may/08/eu-reaches-deal-on-using-profits-from-russias-frozen-assets-for-ukraine