KUALA LUMPUR: Rich nations' climate hypocrisy is accelerating global heating, pushing the planet closer to irreversible catastrophe, with its worst consequences borne by the poorest countries and peoples. While ostensibly aimed at reducing emissions, such measures burden developing countries more, further deepening world inequalities. Besides being ineffective, only a tiny fraction of global GHG emissions are subject to carbon taxes, often imposed using biased methods and assumptions. Government fossil fuel subsidies, e.g., to ensure support against Russia after it invaded Ukraine, have undermined the purpose of carbon pricing. However, there is much reason to be skeptical about the effectiveness of such initiatives for reducing GHG emissions.
