This year has made it abundantly clear that we are edging closer to climate catastrophe much faster than previously thought. Floods, heatwaves and wildfires across the globe have cost thousands of lives and destroyed the livelihoods of millions more. At the same time, global cooperation on climate change remains lacking. To the contrary, confronted with a steep rise in energy prices, as a result of an unexpected worldwide squeeze on energy supplies over the past year, Global North governments are undermining their own carbon emission reduction targets.