It's very possible that we could act quickly to limit climate change, and yet still end up making the world significantly worse. The best way to ensure we do this is to let the worlds mega-wealthy - the 3,000 plus people who have wealth of over a billion dollars or, even worse, the 15 or so who own over $100b - to keep their wealth. Cover of 'Cobalt Red' If you want to know why this is, read Siddharth Kara's book, Cobalt Red: How the Blood of the Congo Powers Our Lives. Published in 2023, the book is an investigation into the cobalt mining industry in the Democratic Republic of Congo (DRC). Cobalt is an essential component of rechargeable batteries. This means it is integral to the process of decarbonisation. Mobile phones, laptops, electric vehicles, grid-scale 'big batteries' - every electrical device big and small uses cobalt. The end users of this wonder metal are among the world's most recognisable and profitable global corporations - Sams...
Nauru is back in the Australian news which can only mean one thing - Australia is about to exile some more refugees there. Home Affairs Minister Tony Burke went to Nauru last week for a series of meetings that culminated in a deal for Nauru to provide permanent residence for up to 280 asylum seekers. In return, Australia has agreed to pay the Nauru government a one-off $400m and then $70m per year thereafter. It's not clear how long this nonsense will continue but if we assume it will last for five years, it will cost the Australian government a total of $750m, or $2.7m per asylum seeker. Nauru from the air. It just so happens that I went to Nauru for a few days some years ago. I can't tell you what I did there, but I can tell you that it was a depressing place. There were a lot of asylum seekers there at the time, living under a regime known as 'open detention'. That is to say, they were free to roam the island at will. Some were still living i...