Just in time for Durban: US backs off on UN Green Climate Fund

Thanks perhaps in part to Climategate 2, it is looking less like success and more like FAIL at Durban. The US has backed off and now refuses to agree to structure and funding of the United Nations Framework Convention on Climate Change (UNFCCC) “Green Climate Fund”. Just the name alone juxtaposed with the UN makes you want to run from it.

FT.com reports:

The US is refusing to sign off on a flagship global climate fund, as already fraught negotiations intensify ahead of next week’s UN climate summit and carbon prices plummet to new lows.

It was already feared that souring economic conditions and next year’s US presidential election would make it difficult for the UN summit – which opens on Monday in Durban, South Africa – to make headway on a new global warming deal before the main provisions of the Kyoto protocol climate treaty expire at the end of 2012.

More at the FT.com

http://www.ft.com/cms/s/0/95d58012-16c2-11e1-bc1d-00144feabdc0.html#ixzz1efbLUK1h

Info on the UNFCCC “Green Climate Fund” here

Advertisements

  Subscribe  
newest oldest most voted
Notify of
Papa Harding

I’d lean more towards the fact that the US is 99.9% debt to GDP. Literally, the US doesn’t have the money.

Gail Combs

I am not sure but this “framework” could have some real teeth like the World Trade Organization has. That would make it a heck of a lot worse than Kyoto.

Yesterday I got an email about Venezuela’s Hugo Chavez submiting a Durban proposal for a tax of 5% on all shipping to and from developed countries to fund the UNFCCC.
Fat chance!

Philip Peake

Sorry, but I am not signing up to read their articles.
8 articles per 30 days — wow! the generosity is overwhelming.
If this is accurate, it will be reported in more reasonable publications.

Camburn

I am sure if the USA had any money it would contribute. We don’t have any spare change. In fact, it seems we don’t even have change.
We will take all donations. Send the check to the US Treas.
Thank you in advance.

Gail Combs

Papa Harding says:
November 24, 2011 at 5:09 pm
I’d lean more towards the fact that the US is 99.9% debt to GDP. Literally, the US doesn’t have the money.
_________________________
Yes that got their timing a bit wrong. Everything was supposed to be sign, sealed and delivered at Nopenhagen two years ago before the people in the USA/EU found out we were dead broke.
Allegedly David Rockefeller said at the Business Council for the UN, on Sept. 14, 1994
“This present window of opportunity, during which a truly peaceful and interdependent world order might be built, will not be open for too long – We are on the verge of a global transformation. All we need is the right major crisis and the nations will accept the New World Order.”
Whether he said it or not, the idea is correct. The timing has to be good or people wake-up and the opportunity is then lost. However this is but one battle in a long war and we are losing it by inches with every new law that “Harmonizes” national laws with international laws.
Thank goodness for blogs like WUWT!

handjive

Meanwhile, in the land of Oz, where money grows on trees….
“In Cancun, Parties recognised the fast-start finance commitment undertaken by developed countries to scale up new and additional resources to a level approaching US$30 billion, for the period 2010-2012 (the ‘fast-start’ period)
In June 2010 Australia(n govt) announced a fast-start package of A$599 million for the three years from 2010 to 2012.”
[ http://www.climatechange.gov.au/government/international/finance.aspx ]
BBC, 13 November, 2011:
Only 8% of the “fast-start finance” pledged in Copenhagen, it says, has actually found its way to recipients.
[ http://www.bbc.co.uk/news/science-environment-15698183 ]
Wave good bye to those hard earned tax dollars… no value there or accountability.

Paul in Sweden

Hillary Clinton’s comments at Hopenhagen regarding the US contribution commitment were conditional. Her phrasing stated that specific actions and agreements with the developing countries would be required first.
While the developing world does not take CAGW seriously, they do take massive handouts very seriously.

H.R.

Yeah, Papa Harding. The US is broke, but that doesn’t seem to stop anyone in Washington DC from spending. I’m just wondering when the waiter will return to the US dinner table and say, “I’m sorry, but none of your credit cards are any good. You’ll either have to pay in cash or wash dishes.”

so we have had nopenhagen and Cantcun now we can look forward to DUSTBIN in Durban hopefully 🙂
By the way in Australia money only grows on trees in Wayne Swan and Juliar Gillards private gardens the rest of us struggle with weeds of no value sadly.

Thanks for the good news. This is one more thing to be thankful for on Thanksgiving.

cui bono

handjive says (November 24, 2011 at 6:09 pm):
“Only 8% of the “fast-start finance” pledged in Copenhagen, it says, has actually found its way to recipients.”
I wonder which countries were stupid enough to give even 8%. Oz and the UK, probably. Groan.

2012 is not to soon for that thing to die and only a fool would attempt to revive it.

davidmhoffer

I’d think that the wheels of government turn far too slowly for CG 2.0 to have had any impact on the decision. This was just announcement day, the decision was made a long time ago, it just had to go through all the paperwork before it could become public.
But there is no doubt in my mind that the current U.S. debt load had a lot of influence on that decision. There, unfortunately, is the one thing that can stop the CAGW nonsense (or whatever replaces it) from continuing. When employment is high and the economy growing, people aren’t happy about their taxes increasing, but they will put up with it, particularly if they think it is for a good cause. Ahem. “The Cause”.
But when the kids are hungry and need new shoes and the landlord is threatening to kick you into the street because you are behind on the rent, suddenly you just don’t give a flying $$$$$ about “the cause” or ANY cause. It is all bullsh*t as far as you are concerned because every penny counts, and the pennies are far more important than the temperature in five years.
Sad though it may be, while I think that CG 2.0 tore another giant hole in the CAGW ship, the darn think sinks slowly. Sadder still, national poverty will sink it completely long before CG 1, CG 2 and lots of really good science possibly could.

Ken Methven

Let’s hope that Donna’s book is being embraced by governments that contribute to the activist organisation which is IPCC and its boss UNFCCC, and withdrawing funding….I am sure there are a few other causes…significantly more worthy than this one!

“US backs off on UN Green Climate Fund”
Now there’s some good news.
While he’s at it, any chance President Obama will swap out the current EPA chief for one less determined to cripple the US economy and drain everyone’s retirement fund via pointlessly overpriced energy sources?

davidmhoffer

Hey Anthony. Any chance you could start a thread based on a skeptic article that has a few glaring holes in it?
I want to see if the trolls come out of the woodwork in droves or not. I haven’t heard from my favourite ones since CG 2.0 hit, and I’m worried about them. Did their heads implode? Are they curled up in their beds sucking their thumbs? Being treated for severe depression?
I hope they are OK. Seriously, I do. I sorta miss them (the more accomplished ones at any rate). People send you stuff all the time, there must be something in your in box that could entice them back out?

Looks like Durban is pretty much down to Britain and Australia voluntarily offering to commit national suicide. Other Western countries talk big carbon, but are no longer willing to put their lives on the line.
Remember the story about the Little Dead Hen?
“And who will stick their heads into the oven with me?” asked the Little Dead Hen.
The Bear said “I will.” The Dog said “I will.” The Cat said “I will.”
So the Little Dead Hen stuck her head in the oven.
The End.

Outtheback

Well the wheels are falling off now.
Even the BBC is reporting that CO2 has less of an impact on global climate than previously thought. http:// http://www.bbc.co.uk/news/science-environment-15858603
Based on the last ice age being less cold then thought. Interesting thought that one.
Looks like everyone from the IPCC down wants to distance themselves from the drama.
As no one in that camp will ever say: ‘we were wrong’, the best we can hope for is these sorts of reports slowly getting people used to the fact that everything is going to being ok after all.

gbaikie

If measuring the planet’s temperature by 1/10th, why can’t we be informed of how much tax payers paying “to save the world” to the nearest million dollar.

crosspatch

These people with their patronizing, condescending view of the people of the world make me ill. It is as if we are people they must “take care of” somehow lest we walk ourselves into oblivion.
Just who do these people think they are? The truth is that they have become everything they hate. They have become just the same sort they would work against. They would wish to control policy and manipulate the playing field in order that the “right” people have an advantage. They are doing the same sorts of things that the generations before them did with other issues and that those previous generations believed were just as noble a cause and they believe they are now.
Leave us with our liberty. Allow the markets, unencumbered, to choose what is more efficient. Stop trying to be so benevolent. Stop trying to “manage” the world and just let go and allow us to manage on our own, please.
Pomposity isn’t really a virtue.

davidmhoffer

Pomposity isn’t really a virtue.>>>
That’s because they didn’t throw enough virtues into it.
No, wait. That was Pompei. Oh, and it wasn’t virtues it was virgins.
Well, no difference at days end. They’ve appointed themselves the high priests and are insisting on throwing our virgins into their volcano. And our sheep, goats, cattle, cars, trucks, grocery stores, central heating, air conditioning, mines, smelters, factories….

ntesdorf

Is UNFCCC short for ‘unfunctional’?

fredb

Whenever one talks of an event being a FAIL or otherwise, I think the measure of that assessment needs to be explained. If the expectation that COP17 will be the solution to all AGW actions, then of course its a fail! If the view is, however, that COP17 is a step along a process, then one needs a very much more nuanced measure of evaluation.
CPO17 is a continuation of a negotiation, that will continue again next year and the year after.
For myself, COP17 is about opportunities to make course corrections. From that perspective, the measure for myself is whether the course correction is *toward* that outcome I believe is a value outcome. The agreement on a fail or success then is dependent on whether we view COP as making a course correction in agreement with our own values.

davidmhoffer

fredb;
If the view is, however, that COP17 is a step along a process, then one needs a very much more nuanced measure of evaluation. >>>
Is there an AGW problem to be solved? Read the emails fredb. They invented it. Do you know what they call a solution to a non existant problem?
FAIL!

charles nelson

UNFCCC
United Nations Fraudulent Climate Change Caper?

DDP

I’m sure the likes of Buffhune and Cameron will gladly offer to make up the difference so they can be the greenest government in the world…..EVAAAAAH!!
Sadly the well has long run dry. Buffhuhne blames runaway rising global temps….news at eleven.

charles nelson

U.N.F.C.C.C.
United Nations Fraudulent Climate Change Caper?

Pete

“and carbon prices plummet to new lows.”
Now at a minus value?

Anon

From “Eisenhower´s Farewell Address to the Nation,” January 17, 1961, at http://mcadams.posc.mu.edu/ike.htm :
— “The prospect of domination of the nation´s scholars by Federal employment, project allocations, and the power of money is ever present – and is gravely to be regarded.” [Birth of junk science, and junk scientists.]
— “Yet, in holding scientific research and discovery in respect, as we should, we must also be alert to the equal and opposite danger that public policy [global warming hoax] could itself become the captive of a scientific-technological elite.” [IPCC.]
Defund all “Green Economy” companies, IPCC, and all of their subsidies, as well.
SAY NO TO GLOBAL WARMING HOAX
SAY NO TO JUNK SCIENCE

We may yet be in big trouble in 2012 when it comes to carbon and AGW, according to RealClearpolitics the DEMS are winning the generic ballot for congress :-(. If repubs don’t get senate, and lose the house…. Lisa Jackson keeps her job, carbon pricing on power plants goes into effect, XL pipeline doesn’t get build, coal plants will be history…. middle class GONE.

Geoff Alder

I live 30 minutes south of Durban, and can provide a swift weather report. Almost the whole of November has been unusually wet and rather cold. Much rain yesterday, as many Delegates must have been arriving. Cold and miserable today, with no sun. If these folk are counting on good beach weather to get a tan, it seems they might just be disappointed! As they say around here: “Ag, shame”.
Geoff Alder

Pete if this is true, then there goes their Christmas bonus. I mean those stupid enough to invest in them, although others have been conned into it, and look as if their investments will not flourish as expected. The BBC has been reported that they invested some of their superannuation scheme in carbon credits. Whose going to buy carbon credits from Australia, at $23 per tonne? Certainly not those who are trying to sell or buy them when the market has crashed elsewhere. Australia is stuffed and still advertising for investors in clean energy? Windmills and solar. Recall The World Bank warning in June. Carbon credits/trading are going to crash if they don’t receive more investors. And then they warned the world temps would go up 3 – 4 C before 2015.

Geoff same here on the Northern Tablelands of NSW. Heavy rain, flooding, and cold too. Mind you we have experienced this before some years ago. And that year we had snow on high altitudes, on 22nd December, our summer.

jason lawrie

I live in Australia, and I am starting to feel like a big fat turkey, thrilled with my invitataion to attend a thanks-giving feast. Now that my mission is to lead “by example” the rest of you lot down the plughole, the least you can do is pretend to follow us?

Peter Whale

Someone coined the phrase “Green Cancer” it looks like the cure is on the way.

Lawrie Ayres

Our Minister for Climate Change, Greg Combet, is leading a group of 57 to Durban for the pig out. Last year in Cancun it was 42 and in Copenhagen, 114. They must know it may be the last so a few more have found it absolutely necessary to be there. Greg wants to crow about his carbon tax and how he single handedly screwed the Australian economy. May he suffer a severe case of frostbite at the conference.

Greg Combet has given everyone else the trotskies – may he too get an immense dose of them while in Durban…….

John Marshall

Good for the US.
There has been an admission that the proposed climate change rules are nothing to do with climate change but ALL to do with the redistribution of wealth to the Developing World. Complete error because the only way to develop and retain your new found wealth is to work for it and save the proceeds. Giving the peoples of the Developing World money would be wasted. Helping them to develop in their own time and way they learn faster and become proud of their own efforts to improve. That way we all benefit.

richard verney

Geoff Alder says:
November 24, 2011 at 11:24 pm
///////////////////////////////////////////
Keep the weather updates coming.
About 3 or 4 weeks ago, I posted a comment expressing hope that Durban would be unseasonally cold during the forthcoming conference. It would be ironic to see this happen.

Bloke down the pub

Outtheback says:
November 24, 2011 at 8:33 pm
Well the wheels are falling off now.
Even the BBC is reporting that CO2 has less of an impact on global climate than previously thought. http:// http://www.bbc.co.uk/news/science-environment-15858603
——————————————————————————————————-
After I read that link, I had to go check that the author wasn’t the same Jennifer Carpenter as on Dexter. Shame really, it would have put an whole new perspective on investigative journalism.

john
Frank K.

Ahhh yes. The Climate Ca$h! Where would climate science and global warming policy making be without the (taxpayer-funded) Climate Ca$h?
Here’s what our Climate Overlords Elites say about the “Green Climate Fund” (from the UNFCCC link):
“The Fund will be governed by the Green Climate Board comprising 24 members, as well as alternate members, with equal number of members from developing and developed country Parties. The assets of the Green Climate Fund shall be administered by a trustee only for the purpose of, and in accordance with, the relevant decisions of the Green Climate Fund Board. The World Bank was invited by the COP to serve as the interim trustee of the Green Climate Fund, subject to a review three years after operationalization of the Fund. The COP also decided that an independent secretariat shall support the operations of the Fund.”
So there you have it! A big wad of Climate Ca$h to be administered by 24 unaccountable U.N. board members and The World Bank! What could possibly go wrong?

Carbon prices in Europe are diving, as a result of Climategate 2.0:
http://ecotretas.blogspot.com/2011/11/carbon-trading-in-crash-mode.html
Just in time!

kadaka (KD Knoebel)

AFP November 23, 2011 (bold added):

EU demands right to dictate national budgets

The EU has rules on annual deficits and cumulative debts but these have been trampled over for years by its governments.
This time, the Commission wants the power to send inspectors in to finance ministries around Europe, and demand changes it believes better meet the needs of the common good before funds are legally allocated.

And what qualifies more as a need of the common good than saving everyone from the catastrophic ravages of unregulated unauthorized climate change that threatens the entire planet?
Don’t worry. No matter what, Brussels will see to it the partially-sovereign interdependent client states of the EU will all contribute their fair share. Money for windmills or decorative sun-catchers on EU lands, or to send off to some territorial entity with UN membership where someone with a WWF/Greenpeace connection will promise to eventually cut or absorb carbon emissions in return for hard currency now (preferably something better than Euros, like Yuans)… Brussels will make sure the common good is served.

john

@ Ecotretas,
Nice find… here is a bit of recent history regarding carbon markets. I used your link as the grand finale…
Flashback:
Death of a carbon salesman: Chicago Climate Exchange
http://wattsupwiththat.com/2011/08/09/death-of-a-carbon-salesman-chicago-climate-exchange/
[snip]
CHICAGO—IntercontinentalExchange Inc. told traders Friday that it would shut down its U.S. emissions derivatives platform, a year after acquiring its parent only to suffer sparse trading as the prospects of a federal carbon-reduction plan remain dim.
The money-losing Chicago Climate Futures Exchange venture will continue operating through the first quarter of 2012 before closing, exchange officials said in a notice. ICE will then list over-the-counter emissions contracts mirroring products listed on the platform.
Then this…
http://www.environmentalleader.com/2011/08/09/ice-adds-21-emissions-contracts-to-replace-futures-exchange/
ICE Adds 21 Emissions Contracts to Replace Futures Exchange
[snip]
Intercontinental Exchange has announced plans to launch 21 over-the-counter North American emissions contracts.
The announcement follows on the heels of news that ICE will shut its emissions derivatives trading platform, Chicago Climate Futures Exchange, by the end of Q1 2012.
The new contracts will mirror products to be lost when the futures exchange closes, the Wall Street Journal reported. New products include derivatives linked to emissions reductions plans in California, Massachusetts, New Jersey and Connecticut, ICE said.
Now this.
Carbon trading in crash mode
http://ecotretas.blogspot.com/2011/11/carbon-trading-in-crash-mode.html

O frabjous day! Callooh! Callay!
The price of UN-backed certificates of emission reductions (CER), which polluters buy to offset their output of greenhouse gases, fell on Thursday to an all-time low of €5.90, down more than 50 per cent since June. The price of European allowances (EUA) under Brussels’ six-year-old emissions tscheme also fell to a record low on Thursday, hitting €7.80, below the previous low of €8.05 set in February 2009. EUA prices have fallen 15 per cent this week.
“We do not expect the pricing outlook to improve materially in the foreseeable future,” said Isabelle Curien at Deutsche Bank in Paris. Trevor Sikorski, at Barclays Capital in London, said: “The risks are biased to the downside.”
http://www.ft.com/intl/cms/s/0/29f0761c-1691-11e1-be1d-00144feabdc0.html#axzz1eizKjDu2

Chuck Nolan

much tax payers paying “to save the world” to the nearest million dollar.
crosspatch says:
November 24, 2011 at 8:57 pm
These people with their patronizing, condescending view of the people of the world make me ill. It is as if we are people they must “take care of” somehow lest we walk ourselves into oblivion.
————————————————————
When did we put the hall monitors in charge?

bill

“There has been an admission that the proposed climate change rules are nothing to do with climate change but ALL to do with the redistribution of wealth to the Developing World”
But what I would like to know, is why does this assemblage of strange bedfellows so want to give money to the Third World. (a) We’ve been doing that for years, in the shape of ‘aid’ and its yielded precious little. (b) Is it some kind of internationalist version of the usual Lefty rant, “its all soooooooooo unfair” (and somehow giving the third-worlders some of my money [with a nice little commission in passing for the Lefty ranters] makes ‘it’ more fair) (c) Is it some cunning big business thing, capitalists alarmed by the limits to growth in the advanced world, can see that the future is to sufficiently enrich the third-worlders so they have enough money to buy fridges and cars and stuff. After all capitalist growth only really exploded when the workers got well paid enough to buy the products of the factories they themselves worked in. Perhaps our post modern capitalists have figured out that giving people money to let them become consumers is as good as their working for it. And if getting money into the hands of the third worlders only requires Jones et al to produce some dodgy verbiage, well, job done, surely?

john

From a few days ago…
New wind-energy label gains Deutsche Bank support
http://www.rawstory.com/rs/2011/11/18/new-wind-energy-label-gains-deutsche-bank-support/
From this morning…
Deutsche Bank Exercises In MADness: “Crisis Likely To Get Worse Before It Can Get Better… If Indeed It Ever Does”
http://www.zerohedge.com/news/deutsche-bank-exercises-madness-crisis-likely-get-worse-it-can-get-better-if-indeed-it-ever-doe