Daphne Wysham’s new Financial Times piece delivers a clear warning ahead of Santa Marta: don’t fund a just transition by deepening dependence on fossil revenues. When budgets rely on extraction rents, governments get pulled towards keeping production going, and social spending gets tied to volatile prices.
She points to a stronger alternative: a modest financial transaction tax that could raise hundreds of billions each year, creating stable, non-extractive climate finance. And she underlines the fastest near-term climate win we keep underfunding: rapid methane cuts, which can slow warming within years.
Read the editorial: Do not fund the energy transition by prolonging the fossil era (Financial Times, Sustainable Views, 17 Feb 2026).