So far there is little evidence that international emissions trading mechanisms have delivered meaningful reductions in greenhouse gas emissions. In the novel, the world of finance takes this shift in its stride and the carbon coin becomes just like every other commodity, in the process “hedging the apocalypse”. In the book, the Ministry for the Future, a fictional body set up under the Paris Agreement, issues a new currency called the carbon coin, in support of projects that sequester carbon from the atmosphere such as forestry. The book can be read as “a vast scenario exercise showing how the transformation of finance becomes part of the solution to the climate crisis,” according to Nick Robins, professor of sustainable finance at the London School of Economics. Deadly heatwaves that kill millions in a week, devastating acts of eco-terrorism, acute water shortages and accelerating extinction rates. Kim Stanley Robinson’s 2020 novel The Ministry for the Future tells a horror story of climate breakdown.
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