Shinichiro Asayama & Mike Hulme, “Engineering climate debt: temperature overshoot and peak-shaving as risky subprime mortgage lending”

Climate Policy (forthcoming)
"Despite the ambitious temperature goal of the 2015 Paris Agreement, the pace of reducing global CO2emissions remains sluggish. This creates conditions in which the idea of temperature ‘overshoot and peak-shaving’ is emerging as a possible strategy to meet the Paris goal. An overshoot and peak-shaving scenario rests upon the ‘temporary’ use of speculative solar radiation management (SRM) technologies combined with large-scale carbon dioxide removal (CDR). Whilst some view optimistically the strategic interdependence between SRM and CDR, we argue that this strategy comes with a risk of escalating ‘climate debt’. We explain our position using the logic of debt and the analogy of subprime mortgage lending. In overshoot and peak-shaving scenarios, the role of CDR and SRM is to compensate for delayed mitigation, placing the world in a double debt: ‘emissions debt’ and ‘temperature debt’. Analogously, this can be understood as a combination of ‘subprime mortgage’ (i.e. large-scale CDR) and ‘home-equity-line-of-credit’ (i.e. temporary SRM). With this analogy, we draw some important lessons from the 2007–2009 US subprime mortgage crisis. The analogy signals that the efficacy of temporary SRM cannot be evaluated in isolation of the feasibility of large-scale CDR and that the failure of the overshoot promise will lead to prolonged peak-shaving, masking an ever-rising climate debt. Overshoot and peak-shaving scenarios should not be presented as a secured feasible investment, but rather as a high-risk speculation betting on insecure promises. Obscuring the riskiness of such scenarios is a precipitous step towards escalating a climate debt crisis."

Darrick Evensen, “The rhetorical limitations of #FridaysForFuture movement

(2019) Nature Climate Change
https://www.nature.com/articles/s41558-019-0481-1  
"The students striking for action on climate change admirably display civic engagement on a pressing issue. Nevertheless, their movement’s message focuses far too heavily on the need to ‘listen to science’, which is at most a point of departure for answering the ethical and political questions central to climate action."

B Craft & S Fisher, “Measuring the adaptation goal in the global stocktake of the Paris Agreement”

(2018) 18(9) Climate Policy 1203-1209
"The Paris Agreement establishes a global goal on adaptation which will be assessed through the global stocktake, the first attempt by the international climate change regime to measure collective progress on adaptation. This policy analysis identifies four main challenges to designing a meaningful assessment. These are: designing a system that can aggregate results; managing the dual mandate of reviewing collective progress and informing the enhancement of national level actions; methodological challenges in adaptation; and political challenges around measurement. We propose a mixed-methods approach to addressing these challenges, combining short-term needs for reporting with longer-term aims of enhancing national adaptation actions."