Quantcast
Climate

To Get Out of Climate Debt, the U.S. Needs a CO2 Savings Account

Americans have a serious spending problem. Our nation is $17.5 trillion in debt; we finance new homes, cars and educations as pretty much a rule; we use credit cards like free money. And we spend way beyond our means when it comes to the environment. We borrow—some would say steal—finite resources on a closed-system planet.

We’ve overstretched our climate budget so far, many fear we’ve passed the point of no return. Global food and agriculture organizations have transitioned from pushing out reports filled with dire warnings and red flags, to white papers focused on how best to manage in an already changed climate. Researchers and activists have resigned themselves to the fact that climate change is a debt we cannot pay off.

According to the Consumer Financial Protection Bureau, “A debt-to-income ratio is one way lenders measure your ability to manage the payments you make every month to repay the money you have borrowed.” And our debt-to-income climate ratio is dangerously high.

Our ability to manage manmade emissions has spiraled out of control. Asking politely for industry to stop pumping out greenhouse gases like carbon dioxide just does not work. Attacking the climate crisis simply by trying to reduce manmade emissions is like trying get your finances under control by just paying off credit card debt. You can’t just pay off your credit card debt and expect to get ahead. You have to also start a savings account and change your spending habits.

And, according to author and environmental activist Amy Larkin, the environmental impact of climate change is an actual financial issue: “Would you rather federal, state and local governments spend our money on preventing extreme weather in the future or on recovering from extreme weather? This is not a rhetorical question. This is the real financial equation that has to enter all decisions on public budgets.”

For all the technological wizardry that has been suggested—from injecting carbon dioxide into deep sea beds to creating a sun shade by shooting sulfur out of manmade volcanoes—there is a simple, obvious and immediately available solution. We can put the carbon back to work making food to nourish our growing population. While excess carbon in the atmosphere is toxic to life, we are, after all, carbon-based life forms, and returning stable carbon to the soil can help us grow more food faster. There is no downside.

Regenerative organic farming can reverse climate change.

We have borrowed enough from the future and it is time to start building a carbon savings account that will buy us enough time—give us enough breathing room—to begin changing our spending habits and living in a carbon-smart way.

 

Show Comments ()
Sponsored
vimeo.com

Video Shows Oil Company's Plans to Drill Arctic From Artificial Island

The Liberty Project has posted a video about its proposal to build the nation's first oil production platform in federal waters in the Arctic.

The video was quietly uploaded two months ago and shows Hilcorp Alaska's plan to build an artificial gravel island and undersea pipeline for its offshore drilling project in the Beaufort Sea. Frankly speaking, the five-minute clip—with its all-American voiceover and electric guitar riffs—is something you'd expect from a pickup truck commercial.

Keep reading... Show less
www.youtube.com

Scientists Discover Sea Levels Rose in Sharp Bursts During Last Warming

By Rice University

Scientists from Rice University and Texas A&M University-Corpus Christi's Harte Research Institute for Gulf of Mexico Studies have discovered that Earth's sea level did not rise steadily but rather in sharp, punctuated bursts when the planet's glaciers melted during the period of global warming at the close of the last ice age. The researchers found fossil evidence in drowned reefs offshore Texas that showed sea level rose in several bursts ranging in length from a few decades to one century.

The findings appeared Wednesday in Nature Communications.

Keep reading... Show less
Gemasolar 15 MW Parabolic Power Plant in Spain / Greenpeace

Quitting Coal: New Global Survey Names the Companies, Countries and Cities

More than a quarter of the 1,675 companies that owned or developed coal-fired power capacity since 2010 have entirely left the coal power business, according to new research from CoalSwarm and Greenpeace. This represents nearly 370 large coal-fired power plants—enough to power around six United Kingdoms—and equivalent to nearly half a trillion dollars in assets retired or not developed.

While many generating companies go through this rapid makeover, the research also shows that a total of 23 countries, states and cities will have either phased out coal-fired power plants or set a timeline to do so by 2030.

Keep reading... Show less
Roderick Eime / Flickr / CC BY 2.0

New Evidence Suggests Ancient Egypt Was Brought Down By Volcanoes and Climate Change

Ancient Egypt is often described as an exotic place—pyramids, hieroglyphics, lavishly worshipped kings and queens.

But in many ways, it has a lot of parallels to modern life. It was an economically diverse, culturally vibrant and unequal place.

The millenniums-old society also struggled with a phenomenon that people today know all too well: climate change. And it may have ultimately led to the civilization's demise, according to a new paper by a team of researchers at Yale University.

The team of researchers studied the tail-end of ancient Egypt during the Ptolemaic dynasty between 305-30 BCE.

Keep reading... Show less
Sponsored
Portuguese youth plaintiffs, from left to right: Simão and Leonor; Cláudia, Martim and Mariana; André and Sofia. Global Legal Action Network

Kids Harmed by Portugal Fires Reach Key Crowdfunding Goal for Climate Lawsuit

As Portugal reels from its worst wildfires on record, seven Portuguese children have met an important crowdfunding goal for their major climate lawsuit against 47 European nations.

More than £20,000 ($26,400) was pledged by 589 people, allowing the Global Legal Action Network (GLAN)—the nonprofit coordinating the lawsuit—to identify and compile evidence to present to the European Court of Human Rights in Strasbourg, France. GLAN now has a new stretch target of £100,000.

Keep reading... Show less
Flying insects such as bees are important pollinators. Flickr / M I T C H Ǝ L L

German Nature Reserves Have Lost More Than 75% of Flying Insects

A new study published Wednesday in the journal PLOS ONE adds more evidence that insect populations around the globe are in perilous decline.

For the study, researchers from Radboud University in the Netherlands, alongside their German and English colleagues, measured the biomass of trapped flying insects at 63 nature preserves in Germany since 1989. They were shocked to discover that the total biomass decreased dramatically over the 27 years of the study, with a seasonal decline of 76 percent and mid-summer decline of 82 percent, when insect numbers tend to peak.

Keep reading... Show less
Sponsored
Politics

Pushing Toxic Chemicals and Climate Denial: The Dark Money-Funded Independent Women’s Forum

By Stacy Malkan

The Independent Women's Forum is a 501(c)(3) nonprofit that has taken money from tobacco and oil companies, partners with Monsanto, defends toxic chemicals in food and consumer products, denies climate science and argues against laws that would curb the power of corporations.

IWF began in 1991 as an effort to defend now Supreme Court Justice (and former Monsanto attorney) Clarence Thomas as he faced sexual harassment charges. The group now says it seeks to "improve the lives of Americans by increasing the number of women who value free markets and personal liberty."

Keep reading... Show less
Mladen Kostic / iStock

Toxic Toys? After Nine Years, a Ban on Harmful Chemicals Becomes Official

Phthalates are a particularly harmful type of chemical, used, among a range of other ways, to soften plastic in children's toys and products like pacifiers and teething rings. In response to mounting concern about the serious health impacts of phthalates—most notably, interference with hormone production and reproductive development in young children—Congress voted overwhelmingly in 2008 to outlaw the use of a few phthalates in these products and ordered the Consumer Product Safety Commission (CPSC) to assess the use of other types of the chemical in these products. After much delay, the CPSC voted 3–2 Wednesday to ban five additional types of phthalates in kids' toys and childcare products.

Keep reading... Show less
Sponsored

mail-copy

Get EcoWatch in your inbox