COP29, the United Nations annual climate alarmism summit, ended in overtime this weekend with an agreement in which wealthy countries are obligated to invest $300 billion a year into “climate finance” for the next decade — outraging environmental activists who dismissed the sums as laughably small. [emphasis, links added]
The $300 billion agreement was $50 billion more than the wealthier participants were proposing as of Friday when the summit was expected to end.
Nonetheless, some extreme climate activists hoped to see commitments of as much as $1 trillion in wealth redistribution from richer states to “developing” countries invested in mitigating the effects of alleged climate change.
The parties agreed to the extra $50 billion after climate agitators pilloried the proposed $250 billion in public statements last week.
“The proposed target to mobilize $250 billion per year by 2035 is totally unacceptable and inadequate to delivering the Paris Agreement,” Amb Ali Mohamed, Kenya’s Special Envoy for chair of the African Group of Negotiators, told leftist British newspaper the Guardian.
“$250 billion will lead to unacceptable loss of life in Africa and around the world, and imperils the future of our world.”
“This latest draft text on the New Collective Quantified Goal is not just a joke – it’s an insult to the billions of people in the Global South living on the frontline of the climate crisis,” the head of the Climate Action Network International, Tasneem Essop, reportedly said. “The $250 billion per year in public finance is peanuts, doubling a failed $100 billion goal instead of addressing real needs.”
Reports from the inside of the event, hosted by fossil fuel giant Azerbaijan, described a “bitter,” exasperated, and ultimately disappointed contingent of activists.
Bloomberg, reporting on site, offered dramatic details including several countries walking out of talks at some point and conference rooms running out of food, leaving diplomats irritated.
The COP events – formally the “Conference of the Parties to the United Nations Framework Convention on Climate Change (UNFCCC)” – are annual meetings in which party nations agree to commitments intended to combat the alleged climate crisis.
The meetings have become increasingly contentious as the United Nations has offered hosting duties to nations with a vested interest in boosting the fossil fuel industry.
Last year’ COP28 host was the United Arab Emirates (UAE), which gave the presidency of the event to the head of the Abu Dhabi National Oil Company (ADNOC), Sultan Ahmed Al Jaber.
This year, the president of host Azerbaijan, Ilham Aliyev, opened COP29 by declaring oil and natural gas a “gift from God” and stating: “Countries should not be blamed for having them, and should not be blamed for bringing these resources to the market, because the market needs them.”
The main negotiation priority of COP29 was replacing the current commitment by “developed states” to invest $100 billion a year in climate financing, which expires in 2025. The negotiators agreed to a deal that tripled that investment.
“Also included in the agreement was a broader goal of raising $1.3 trillion in climate finance annually by 2035,” the German outlet Deutsche Welle reported. “This would include funding from both public and private sources, which economists say matches the sum needed every year to address global warming.”
United Nations Secretary-General Antonio Guterres declared himself disappointed with the presumably low funding commitments in remarks concluding the summit this weekend.
“Developing countries swamped by debt, pummelled by disasters, and left behind in the renewables revolution, are in desperate need of funds,” he claimed. “An agreement at COP29 was absolutely essential to keep the 1.5-degree limit alive. And countries have delivered.”
“I had hoped for a more ambitious outcome – on both finance and mitigation – to meet the great challenge we face,” he lamented, adding, “But this agreement provides a base on which to build.”
Guterres scolded countries to rapidly act to pool money in response to the deal: “Commitments must quickly become cash. All countries must come together to ensure the top-end of this new goal is met.”
The agreement, Bloomberg observed, did not clarify exactly where that money should go.
Top image via COP29 media gallery
Read rest at Breitbart
So one has to wonder where these “wealthy” countries are going to come up with the billions of dollars after they have destroyed their own economies by “going green”. See Germany and the UK as the first two whose economies are going down the drain where Germany was the European powerhouse. And if the US continues down the path of those two our economy will also head south. Trump may be our last chance to stop this insanity.
To put what the developing nations label as unacceptably low at $300 billion, China’s military budge is $230 billion a year.
Climate change from emissions can not be harming developing nations. A carefully ignored fact by this movement is at 420 ppm carbon dioxide is beyond is saturation point. Also, the scientific body of the same organization that puts on the COP’s acknowledges that extreme weather events are not increasing. Though climate change is not victimizing developing nations, the climate change movement most certainly is. They have been very effective in blocking funding for fossil fuel power plants. Building such plants is the only realistic path out of poverty.
Its the Title to Bret Strong’s little hit MONEY THATS WHAT I WANT See the big $$$$$$ in their eyes hear the KAH-CHING KAH-CHING KAH-CHING
Hopefully we are witnessing the demise of a pointless charade of “concerned” and misguided elitists who worship at the Church of the Climate Apocalypse.
I read an article today reviewing the 2024 Atlantic hurricane season. Pure hyperbolic lunatic alarmist propaganda. There ought to be law, but one man’s free speech…….
From British/Ghanian rapper Fuse ODG
“While they generate sympathy and donations, they perpetuate damaging stereotypes that stifle Africa’s economic growth, tourism and investment, ultimately costing the continent trillions and destroying its dignity, pride and identity” . What he said! Stand on your own two feet.
Slapping away “small change” looks BAD.
They’ve added another social division to rich vs poor, it’s those North of the equator vs those South of the equator. I haven’t heard much mention lately of an old theory that says northern people are smarter because winters killed of the lazy dummies. There was no low hanging fruit to pick or fish to spear in warm shallow water, year round for them, so the intelligent ones developed survival skills, like preserving food for the winter or trapping. Those who go to the UN demanding compensation for their inferiority complex, I say it’s not a complex.
Cheque is in the mail.
I just stumbled across something related…. “white saviour complex” . The article from the BBC is about Live Aid, and the song Do They Know It’s Christmas?. The is being pre-release, and shares the comments of the artists who wrote and sang the original version decades ago.
Search ” Midge Ure, Sir Bob Geldolf, Ed Sheeran” . The navel gazing ………
Sonnyhill, congratulations on venturing into the forbidden subject. While doing research in college I stumbled across an article in an academic social journal that listed a number of forbidden subjects, including differences in intelligence of demographic groups. Your theory may have merit. European Jews test on the average five IQ points higher than the average European. The theory is during hundreds of years of persecution those who were more intelligent had a better chance of surviving.
My grandfather (German) was fluent in seven languages, including Yiddish. He believed that marrying an intelligent woman was an imperative. Curiously he was not Jewish but his offspring were anti-Semitic. (he suffered some bad business deals) I’ve tried to dig into my ancestry and found nothing conclusive. Apparently, European Jewish genetics can be traced back to 8 women.