Date: 18/06/21
GWPF & Financial Times
As the geopolitical risks and astronomical costs of the West’s unilateral Net Zero agenda become ever more evident the planned UN climate summit later this year (COP26) seems to be heading for the rocks.
Unsurprisingly, the reluctance of Western governments to deliver its pledge of an annual $100 billion transfer fund to more than 100 developing countries is threatening to unravel COP26.
“A major reason for the discord is that rich countries appear to have missed a target of $100bn in annual climate aid by 2020, creating mistrust among the 191 countries that signed the Paris agreement….”
The West’s geopolitical own goal also provides China, India and other emerging nations a rock solid reason to reject Western pressure on any new or binding commitments.
If Biden, Boris and the EU thought emerging and developing nations would simply cave to their unrealistic Net Zero demands they should think again. It’s not going to happen.
The US and EU leaders have tried and failed to square this circle for the last 30 years. It’s unlikely to go away for decades to come.
There is now a growing risk that COP26 will end in yet another COP-flop, throwing the climate campaign back to the 2009 Copenhagen fiasco.
Weeks of negotiations were overshadowed by cost of meeting demands of Paris agreement
Tensions over climate finance threaten to derail this year’s COP26 summit after weeks of preliminary UN deliberations yielded little agreement over how to proceed with core principles of the Paris climate accord
The downbeat conclusion fuels further disappointment about progress on halting global warming, after the G7 leaders summit in Cornwall failed to produce specific plans for new climate funding.
A major reason for the discord is that rich countries appear to have missed a target of $100bn in annual climate aid by 2020, creating mistrust among the 191 countries that signed the Paris agreement.
The shortfall in funding also sets the scene for a series of difficult discussions in November at the COP26 in Glasgow when it comes to agreeing new goals for climate finance.
“It is unlikely that rich countries hit the target of mobilising $100bn per year by 2020,” said Amar Bhattacharya, co-chair of the UN’s Independent Expert Group on Climate Finance and senior fellow at the Brookings Institution, although official figures are yet to be tallied formally.
At a time when government coffers have already been emptied by the coronavirus pandemic, reaching agreement on climate finance — public and private funding to help developing countries cut emissions and adapt to climate change — is more contentious than ever.
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Come on, man, hookers and blow and booze are expensive, they need every farthing they can scrape up!
I wonder if western leaders are even aware that the road to net zero will lead to devastating effects on the economy. I know they boast about creating millions of green jobs, but do they actually believe that? Perhaps they do. Perhaps they believe in the fantasy that by eliminating cheap reliable energy for expensive and increasingly unrealistic wind and solar they will become “global leaders” etc etc.
The single most important thing to the western bloc – NATO, the EU, G7 – is projection of geopolitical power (enforcement of their “rules based system”). Yet, the economic destruction they would unleash on their own economies with net zero, would necessarily weaken their power to the point that they become irrelevant. Is that the plan? Paving the way to some global governance? I really have no idea.
yeah billions to pharmas for semi useful vax(if it doesnt kill you) plus wage supports etc trade losses and the rest
funny how REAL problems sorta shuffle the imaginary ones to the rear of the line 😉
$100 billion a year, $100,000,000,000 !!!, promised so easily to bribe non-G7 countries to go along with this insanity, but for useful things like clean water and sanitation, technology transfers to jumpstart local industry, decent loans to support basic, reliable infrastructure, etc, nothing even remotely comparable. The signers of the Paris Accords should have known that if it sounds to good to be true….
The Maldives are so concerned about climate and sea level rise they are building massive hotels and a new airport because….
Help me here, why are they building those, since they went under the waves last year?
Its obvious this is just a cash grab by poor countries – and so-called leaders from “rich” countries are eager to play Santa Claus with your money. Its just a circle jerk.
“Foreign aid is taking money from poor people in rich countries to give to rich people in poor countries.”