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. From the Financial Times (£):
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.
During three weeks of tense negotiations at the UN Climate Change intersessional meetings, which concluded on Thursday, an undercurrent of discontent over climate finance stymied a number of discussions on topics such as carbon markets and transparency.
“The issue of climate finance still remains the most difficult part of all these negotiations,” said Molwyn Joseph, environment minister for Antigua. “I do not believe that particular aspect was dealt with as it should have been.” Rich countries donated around $80bn in 2018, according to UN figures.
Read more at The GWPF
The whole United Nations is a total fiasco from the very day it was created from the failed League of Nations
We need to get rid of this overloaded and overpaid bureaucracy
https://tambonthongchai.com/2021/06/05/the-paris-agreement/
I have been closely fallowing the COP meetings for years. In the last several years the subject of the give way, billions of dollars to the developing nations, has threatened to cause the climate summits to collapse. Maybe this year we will get lucky and that will happen. Funding seems to be the primary interest that the developing nations have in the COP meetings. Don’t forget that they have been promised $100 billion a year, but are demanding $300 billion a year. I’m very surprised that they received $80 billion in 2018. This is likely the reason the developing nations haven’t walked out of the COP meetings. However, with the devastation of the western nations’ economies by the pandemic, funding in the near future is likely to be less than $80 billion a year.
The globalist have a plan.
Jan 27, 2021 Financing the “Net-Zero” Transition (Option 2) | DAVOS AGENDA 2021
The transformation of industries and economies to zero carbon emissions is complex and capital-intensive. Corporates must collaborate with the financial and public sectors to accelerate decarbonization.
https://youtu.be/18baFdCEeW8
I can’t remember what any of the achievements of previous COPs were. Only Copenhagen which was wrecked by the exposure of the Climategate fraud. But I can’t recall the number.
Nothing good has come out of any of the COP meetings. The two most notable are Copenhagen and Paris. The most notable about Copenhagen, COP 15, is that the developing nations were promised US $100 billion a year starting in 2020. This has yet to be realized and is quite a contentious issue for the coming COP 26 in Glasgow. COP 21 in Paris resulted in the Paris Treaty that everyone was expected to ratify. Both Obama and Biden have signed it but the US Senate has not ratified it. The Paris Treaty was a radical departure from past COP meetings. Past meeting were spent haggling on the level of emission cuts from each nation. COP 21 resolved this issue by saying that each nation would determine its own level of emission reductions with the expectation these would be updated to significantly lower levels every five years. The initial pledges fall far short of what the activists believe is necessary. Only 11 nations, none of them major emitters, have made good on their pledges. For the new pledges due in 2020, most nations either submitted no update, or an update that was very similar to their original one.
Here’s a summary of the meetings
https://tambonthongchai.com/2021/06/05/the-paris-agreement/