www.zerohedge.com By Tyler Durden
In the past five years the institutional discussions surrounding climate change have shifted noticeably from “net zero” goals (zero net carbon emissions from target countries) to a more mercenary debate over carbon taxation. The question on everyone’s mind is this: Who gets the most access to those delicious climate funds?
Who gets access to the cash is less important than who gets to manage the cash, but we’ll get to that issue in a moment.
The recent COP30 event held last week in Brazil was largely focused on wealth redistribution with a lesser emphasis on carbon reductions. Climate “financing” is the name of the game, and COP30 was largely a squabble over which countries will get the most access to the various carbon taxes and donations collected by global intermediaries. In fact, the conference was largely considered a failure. From The Guardian:
“The sticking point was fossil fuels. As science has told us for well over a century, the carbon dioxide that burning them produces is heating up the planet, now to dangerous levels. But in more than 30 years of annual climate meetings, the need for that to halt has been mentioned only once…”
“…Meanwhile, developing countries desperately wanted to move forward on securing the money that would help them cope with the already disastrous impacts of extreme weather. By the early hours of Saturday, some delegates were ready to walk out and force a collapse. “It was on the edge for us,” said Ed Miliband, the UK energy minister. “I was prepared to walk away.””
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Read Full Article Here…(zerohedge.com)
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