From NOT A LOT OF PEOPLE KNOW THAT
APRIL 11, 2022
By Paul Homewood
Get your wallets out!
Eight emerging markets — India, China, Indonesia, Kenya, South Africa, UAE, Nigeria and South Africa — will together need $94.8 trillion in transition finance from developed markets if they are to meet climate goals
India will need investments worth $12.4 trillion, nearly half of U.S. GDP, from developed nations and investors to help its economy transition to net-zero carbon emissions by 2060, according to a report.
Without capital inflows and grants from the developed world, emerging economies including India’s will see household consumption fall by 5% on average each year, according to a study by Standard Chartered Plc.
Eight emerging markets — India, China, Indonesia, Kenya, South Africa, UAE, Nigeria and South Africa — will together need $94.8 trillion in transition finance from developed markets if they are to meet climate goals without affecting their citizens’ cost of living, the report said. China alone will need $35.1 trillion, the calculations show.
Developing economies have raised concerns about richer nations not meeting their climate finance commitment of $100 billion, made in Paris in 2015. India sought $1 trillion in funding from the developed world to help meet its net-zero goal by 2070, during the global climate talks in November.
If India’s financial needs are provided by developed markets, household spending in its economy could increase by $7.9 trillion. Instead, if India were to self-finance its transition costs, the average Indian household spending could fall by as much as $5.8 trillion, according to the report.
The study suggests a mix of blended finance or joint spending by the public and private sectors to subsidize the cost of capital to cut investments risks, coupled with issuing sovereign green bonds by emerging markets as possible solutions to bridge the funding gap for climate change.
“If developed markets fail to channel net-zero investment into emerging markets while working on their own transition, there will be devastating implications for the planet,” the report said.
Statistics and numbers generated from studies funded by pro-Green Energy will only show the most favourable view of Green Energy. If DuMarier and Winston had funded studies from which they gained their data, then the only way to save the planet is for everyone to start smoking.
No wonder the hedge funds and big fund managers are salivating so heavily. Think of the huge profits generated from the tax loss financing.
And China. Whew. That’s a lot of product to sell.
Excuse me…but if Climate Change is going to destroy the world, then wouldn’t it behoove India and China to make the change? I mean, they are part of “the world” are they not? Why is it always up to the U.S. to pay for everything?
Eight emerging markets — India, China, Indonesia, Kenya, South Africa, UAE, Nigeria and South Africa
Eight? Are there two countries called South Africa?
The second South Africa should probably read ‘South America’ and, yes, before you correct my classifying South America as a single country I’m only saying that because the top 10 emerging markets also include Mexico, Argentina and Brazil. Basically the article should have mentioned the top 10 and included the last 3 if we’re going to be particular about such things.
Well, that’s a non-issue now – we’ve been assured by the media and governments and of course alarmist scientists that unreliable “renewables” are the cheapest sources of energy so no transition required. These countries already have plans to grow their energy economies usually by several multiples of what they have now, so by the woke ‘facts’ and logic, as they build out their grids and systems with wind and solar, etc., alone their power production will naturally get ‘greener’ and greener.