Essay by Eric Worrall
“… about 70% of that needs to come from the private sector…”
Q&A: How COP26’s UN High-Level Champion for Climate Change sees the world’s climate progress so far
Nov 4, 2022
Lucy Almond
Head of Strategic Communications, Tropical Forest AllianceNigel Topping, the UN’s High-level Champion for Climate Change for COP26, shares his views on where climate action is succeeding with the World Economic Forum.
According to Topping, about $2 trillion a year more is needed in emerging and developing economies, excluding China, to confront climate change effectively.
…
What’s the big picture on the amount of money needed for the nature-positive agenda – and who’s going to have to come up with it?
Nigel Topping: This is about investing for higher productivity and job growth, so I reject the framing of ‘who’s going to have to come up with it’. My question is: Who’s going to make money if they problem-solve to find ways of structuring nature-positive investments that provide returns?
In terms of how much? It’s complicated. But about $2 trillion a year more is needed in emerging and developing economies, excluding China. About 70% of that needs to come from the private sector. Look at Africa, where a large majority of people are working in agriculture. There’s a huge need for investment in smallholder farmers, but also in small- and medium-size enterprises (SMEs). For example, a really exciting start-up in Nigeria is making solar-powered cool boxes that massively reduce food waste while moving vegetables around in a hot, humid country. As well as investing in companies that provide services to the market, we need to provide loans to SMEs that are the backbone of the food system in emerging markets. There’ll be a lot of focus on that at COP27 in Sharm el-Sheikh.
So yes, this is about investment from multinational partners, but also crucially from participants in the value chain and local companies. Remember, this is a growth story, so there’s a reason for investing in changing practices.”
…
Read more: https://www.weforum.org/agenda/2022/11/cop27-united-nations-climate-change-progress-nigel-topping/
At least they said “excluding China” when discussing who is supposed to receive the “investment”.
The reality of course is the reason countries are poor is usually that their kleptocrat leaders keep stealing all the cash. Cash handouts rarely help the recipients, unless you mean the personal bank accounts of the corrupt elites who usually run those poor countries which keep demanding handouts.
If you have any doubts about this, I recommend you read Kenyan economics expert James Shikwati’s “For God’s sake, please stop the aid”.
I’m still waiting for the roadmap of how past money was spent and future money will be spent by the UN on CC. Specifics as to how much and to what country. Not holding my breath.
How much is the UN spending on a help for Ukraine?
Next to nothing, except for the refugee crisis. Russia has veto power on the Security Council.
A dream arrangement for Mr. Putin.
Time to dissolve the UN. It became a cancer.
At least move it off of U.S. soil. I advocate an internationally recognized neutral location like Antartica. I wouldn’t want it on the Moon due to its strategic location – talk about the high ground.
At the bottom of New York harbour would be far enough.
I propose the bottom of the Marianna trench :
South Georgia Island
TOTALLY AGREE It is a nestbed of Communists.
As a young man I used to laugh at the John Birch Society roadside signs urging “Get the US out of the UN.” Older and wiser, I agree with them now.
“The John Birch Society remains active today, and its members seek “to expose a semi-secret international cabal whose members sit in the highest places of influence and power worldwide.” (History)” I may just join up.
They don’t need to, the US is committed to spend “whatever it takes.” $31 trillion in the hole and counting.
Eight years since the Biden/Maidan/Slavic Spring with “benefits” and longer since Obama’s World War Spring (WWS) series (e.g. second Iraq war) funded through cash deposits (e.g. override of counterclaims) in Iranian accounts.
The UN is only in the business of spending other people’s money such as yours and mine.
Not recognizing private property is most countries problem. State ownership of the mining and energy production system leads to gross distortions.
Single/central/monopolistic solutions in trickle-down economic models.
There is no such thing as a “trickle-down economic model.”
The term “trickle-down” was invented by Roy Rogers – the “Singing Cowboy.” Roy Rogers was not an economist.
State ownership of just about anything leads to distortions.
“… excluding China,…”
________________________
That’s where I stopped reading.
Actually, I like the idea of excluding China – from everything possible. The past few decades we’ve been inundated with crappy products that only get better when they steal our tech.
50 years ago we said exactly the same about the Japanese. Beware the yellow peril!! (/sarc)
But the president sez green is cheaper than fossil fuels!
And Hunter is the smartest guy he knows. Brandon isn’t really the best guy to point to for facts/logic.
Biden means Green, which is neither green, nor renewable, nor reliable, nor affordable.
Make your payment voluntarily now and save 10%. Rates and penalties will go up later when the mandatory payments start. We take cash, yachts, seaside resorts, or Swiss bank transfers to numbered accounts only.
“… about 70% of that needs to come from the private sector…”
Since when does the government sector have their own money?
Guterres: “cooperate or perish”
Funny when the head of the UN sounds like a super villain.
He is in a competition with Klaus Schwab of WEF for top super villain.
When I heard Guterres say, in the opening remarks of the COP-A-Feel 2,700, that we “need to keep the planet cold” I think your characterization as super villain is right on.
The “Plan” is to redistribute wealth….and you can spend a lot of money trying to change the weather….and governments want to be in charge of where the money is spent…
Pay up sucker or your private jet and classic art holdings get it.
Pay up does not apply to private jet owners.
Shouldn’t that be “Pay up sucker, we have private jets and classic art holdings to fund”?
If Climate Development was worth anything, 100% of investment would come from the private sector. When I say private sector I mean people using their own money, not using other people’s money without their knowledge or consent.
We didn’t need government “investment” for petrochemicals to replace whale oil. We didn’t need government “investment” for autos to replace horses for transportation.
Any government involvement indicates corruption.
Gotta love these job titles the CC crowd gives themselves. This guy is the UN’s High-level Champion for Climate Change for COP26.
The mind lingers over that. How many levels of champion were there at COP26? Was there a Mid-level champion?, maybe from some developing country? A Low-level champion, maybe an autistic 6th grader following in Greta’s footsteps?
How about the other 25 COP’s that came before? Did they each have a High-level Champion, or maybe two or three levels of champion? One hopes these names are all engraved on stone tablets somewhere, so the world never forgets.
Personally, I’ve already forgotten this guy.
forgotten whom?
What in the blue hell is climate development?
Ya’ put “climate” in front of everything money-related for virtue signaling. The SJWs do it with the word “justice” as as a follow-on modifier to many of their Marxist inspired programs.
1) COP seaside resort building construction
2) COP airport expansions
3) glue factories
4) Swiss chalet construction (Kofi)
5) Yachts and more yachts
6) Lithium roasting in Congo alongside child miners at the cobalt mines
Spodumene – Wikipedia
Thanks, Joel & RG, but I was hoping for a response from Griff or Loydo.
It really is creeping global Communism.
The scope for abuse and corruption is vast. They would have to set up a global police force to try to control it.
Yes it is amazing what the Communist Mantra that : “The End Justifies the Means” allows or requires you to do with a clear conscience if you have one.
Just what we need, a global police force run by the UN.
UN: “That’s a really nice climate, ya’ have there. Be a shame if it were to have
its knees brokenclimate change.”When these overpaid public sector spokespersons come up with these incredible numbers needed to fix an imaginary problem, I would like to ask a follow up question to his statement “70% of the $2trillion/year has to come from the private sector”
Where exactly does he imagine the remaining so called public sectors 30% actually comes from? The public sector has no money, it simply takes money from the private sector and claims it is providing subsidies and grants.
It is always the private sectors money, the public sector simply systematically steals it ,via taxation.
Rod:
Agreed.
Unfortunately, the central bank will just print the money. This will enrich some of the climate related elites, and impoverish the rest of us [more inflation, misallocation of funds, fewer gov services, and…wait for it… a less reliable electric grid!]. And saddle our kids with the debt payments when these politicians are safely out of office.
IIRC in 2020 McKinsey Corp {consulting firm} estimated Biden’s Green New Deal, aka
NetZero by 2050, would cost ~$270 Trillion. So, ~$9T per year x 30 years.
And the fine print: all the major countries would have to participate (no free riders), all would have to cooperate, all the technology (some of which has not been invented yet!) would have to be built on-time & on-budget, and work as predicted. Lastly, most of the $270T needs to be spent in the early years so all the magic has time to work.
And finally, guess which countries get to pay?
It is a scam.
Ironically, COP’s $100B/year payoff to the developing countries looks to be a better deal (as long as we do not spend the other $8.9T/yr). Consider it protection money to buy off the climate mafia. LOL
You be amazed at how big the ‘administration fees’ the UN would take out any funds for ‘climate doom’
And how ‘bodies ‘ they need to work on this project.
When you talk billions, your can easily ‘lose ‘ tens of millions.
I could do with a few quid myself
70% from the private sector (which comes from consumers anyway), leaving 600,000,000,000 from our taxes EVERY YEAR!
Where does the rest come from? Governments don’t produce, they take.
As I said, our taxes
Well, yeah, when you put it like that.
My bad
No worries
“Who’s going to make money if they problem-solve to find ways of structuring nature-positive investments that provide returns?”
This man’s lack of understanding of basic economics is staggering
The UN is attempting to squeeze through a global taxation scheme. Just say NO.
It’s not going anywhere because Dems don’t share hard won spoils of the misinformation tax and spend vote-buying wars.
Reality is that all the funding comes from taxpayers or private citizens.
Government simply takes a share (usually too large) and paays the bill with your money.
U.K. Backs $1 Trillion Climate ‘Reparations’ Initiative – The Daily Sceptic
“Britain has opened the door to paying climate change reparations to developing countries by supporting talks on the issue at the COP27 summit.
On Sunday, at the meeting in Egypt, U.K. negotiators backed a last-minute agreement to address “loss and damage” payments to countries badly affected by climate-related disasters”
“The U.K. backed the issue being on the COP27 agenda during two days of negotiations ahead of the Egypt summit and is understood to accept that a deal must be done over the economic cost of climate change, which is forecast to reach $1 trillion by 2050.
On Sunday night, a Downing Street source said Mr Sunak planned to “scale up progress and support” for developing countries suffering the worst effects of global warming.”
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Recall Einstein’s definition of insanity….doing the same thing over and over again and expecting different results.
Just their logic: Spend $1 trillion today to avoid spending a total of $1 trillion by 2050. To avoid spending $37 billion each year to 2050 ($1 trillion/27 years) at a discount rate of 7% (U.S. Federal government guidance) one would only be willing to spend about $440 billion today.
If you assume you are spending money at the same rate you are saving then its a zero-sum game. Of course you would be ignoring the very likely chances both your savings and spending estimates are not anywhere in the ballpark. Anyway, costs tend to escalate and savings evaporate when you are dealing with governmental projects.
What happens when you give a corrupt and totally inefficient organisation, well known for being unable to find its own rear end, even when given a map and training called ‘finding your own rear for beginners ‘, the world’s biggest blank cheque?
Well anyone who is mad enough to shell out all this climate ‘doom’ cash will find out .
+50
“ about 70% of that needs to come from the private sector”
Yeah, I’m sure they will get right on that.
Ya know what works better than solar powered cool boxes for food transportation?
Diesel powered refrigerated semi trucks.
Beat me to it. What a ridiculous “solution”.
No food transportation from evening to morning, or when raining or cloudy. Yeah, I can see private investors falling all over themselves to get into that business.
What have solar powered cool boxes got to do with climate change? Climate, yes, but not climate change. This idiot makes no effort to show the “link” – their favourite word – to climate change, only climate.
If I remember correctly, we were told at Glasgow that there was $135 trillion of private funding world wide waiting to be “mobilised” to combat climate change.
Could all those billionaires and their compliant corporations please step forward.
“… about 70% of that needs to come from the private sector…”
ALL of it comes from private sector, bscause governments don’t have any money that they don’t take first from their citizens.
Actually, Governments can and do print money.
Jim, That process of printing money does not create anything. It simply dilutes the value of what is being called money. Printing ‘wealth’ which is done in times of crisis, (think Zimbabwe) does nothing but destroy actual wealth. The impact of printing is felt in the longer term it is a prime driver of inflation and always causes actual devaluation of the currency.
Do any of these people actually understand what a trillion actually is? That is, how big an amount, one trillion dollars is.
If a private billionaire member of the WEF wants to identify specific investments in “smallholder farmers” or specific SMEs, and invest his own money, go right ahead, be our guest. What? No?
So where does this swamp rat expect these $trillions of “private sector” investment to originate? Woke government pension funds? What makes these investments “climate” related? In general, “green” technologies tend to be the riskiest and have by far the worst record of financial performance. Solar-powered refrigerators? If they were a good commercial idea, they’d already be on the market and popular in local markets. What, no buyers? What a shame!
We become a prisoner of these fantasies. We need to break the chains.
There is no such thing as giving money to developing nations. When you think you are doing that what you are actually doing is giving money to the corrupt leaders of developing countries. They deserve nothing.
Britain only paid off the WW2 American Lend Lease Agreement about 3 years ago, I believe and that was buttons in comparison.
During those 70 odd years I doubt anyone, including myself, knew they were paying it. Such is the transparency of Government.
How long will our children and their children have to unknowingly pay for the absurd sums now being bandied about?
Come on you economists do your sums. Let’s say at 3% interest for starters then double it to 6%. I reckon we would need another bunch of children to complete the deal.
Do we really want to burden our descendants like that on what will inevitably turn out to be a FALSE WHIM.?
“For example, a really exciting start-up in Nigeria is making solar-powered cool boxes that massively reduce food waste while moving vegetables around in a hot, humid country.”
Why the condescension? Why not proper refrigerated transport and storage? (as tgasloli comments elsewhere here.) Powered by hydrocarbon fuels and a reliable electric grid.
Why should the developing countries accept such an elitist put-down? Toy solar cool boxes. Sheesh.
From a few years ago, we have “the soccket ball”
https://www.nydailynews.com/life-style/soccket-soccer-ball-generates-electricity-article-1.1292580
Has anyone ever seen one?
“Solar powered cool boxes” great idea that no one would criticise BUT where is their solution for national grid scale reliable and cheap electricity without fossil fuels. This seems to be a pattern with the anti-fossil fuel brigade to spruce these laudable micro-solutions but don’t address the “elephant in the room”.
2 trillion, problem solve, money making, nature positive
What a jackwad
How about the US pulling out of the UN.
Um, ultimately it all comes from “the private sector”.
UN is too busy demanding MORE .. MORE – but don’t ask them how they flittered past funding. The dream of every con
Let’s just print money for climate crap – what could possibly go wrong?
My late father in law was a UN official in the 50’s/60’s (when that actually meant something) and witnessed where the aid money went, straight into the pockets of the corrupt.
Cuba was different. The Russians weren’t stupid enough to hand over money, but if Fidel wanted heavy equipment for anything it would be there within weeks, by the shipload.
BS… $2 Trillion can’t come close to replacing $50 Trillion in existing Energy System Assets…. + scrapping 100’s of millions of vehicles with decades of operation remaining + $15,000 to $20,000 to convert nearly half a billion houses from natural gas heating to electric heat pumps + reinventing the Trucking and Aviation Industries + financing a major World War to force Asia and Africa to submit to the fraud.
The Climate Fraud just cannot tell little lies…all their HUGE lies are understated by 2 to 5 orders of magnitude.
Nearly half a century into this fraud… and there is NO rationally engineered plan to make a transition out of Fossil Fuels. NOT EVEN A CLOSE APPROXIMATION.
A Cascade of a fraud within a fraud within another layer of fraud.
Shortly after the NIEO died out in the mid 1980s, they (UN, socialists, etc) came out with “Our Common Future” which brought sustainability into everything. The report was chaired by Gro Harlem Brundtland, a VP in socialistinternational dot org.
In a way, “Our Common Future” is the replacement (or successor) to the fizzled out NIEO.
Hence the calls for international climate finance, mitigation, adaptation, reparations, cap-and-trade, etc.