COP29 Leaves Poor Countries Fuming

So the whole charade trundles on for another year:

PAUL HOMEWOOD

https://www.bbc.co.uk/news/live/c8jykpdgr08t

So, poor nations, who demanded $1.3 trillion, were eventually forced to accept $300 billion, a figure widely derided:

And India’s representative made it absolutely clear that the money would not alter her country’s energy policies:

But it is all academic anyway, as they won’t even get that much if the US pulls out, as expected to.

The UK’s share of $300bn, if averaged out by GDP, would be about $18 billion, or $36 billion if Trump pulls out, which is nearly three times the current Overseas Aid budget.

In all likelihood, most of the money will be provided, as now, by repayable loans and private sector investment. Neither of these are of much use for the Third World, as they cannot afford the repayments or the profits businesses will look to extract.

Needless to say, developing countries will not be obliged to cut emissions in return for their Danegeld. Back in the heady days of 2009, the naive Barack Obama believed that throwing dollar bills around would magically lower the world’s emissions. We now know the reality!

Nor is there any obligation for China, India or Middle Eastern oil states, all still classified as “developing”, to cough up a penny.

And more fundamentally, COP29 never even addressed the issue of emission reductions. No new pledges were made, no NDCs updated. No even a timetable for discussing them in future.

Perhaps the most ludicrous part of the Conference was the first day agreement on carbon markets.

As the BBC explain, a poor country with lots of trees can sell carbon credits to richer nations, so they can continue to burn fossil fuels.

Apparently carbon emissions are alright, as long as you pay a penance!

Meanwhile I look forward to Ed Miliband telling where Rachel from Accounts is going to find all the money he has signed away.

This article (COP29 Leaves Poor Countries Fuming) was created and published by Not a Lot of People Know That and is republished here under “Fair Use” with attribution to the author Paul Homewood

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Insane bureaucrats put developed nations o the hook for 300 billion dollars a year – that’s a billion “developed” people with trillions of debt paying that to 7 billion “self-identifying” beggars

PETER HALLIGAN

”India’s representative to COP, Chandni Raina, blasted the $300 billion as “abysmally poor” and a “paltry sum.” She was among those who wanted the figure to be $1.3 trillion a year instead of $300 billion. She said the agreement reached was “nothing more than an optical illusion” and unable to “address the enormity of the challenge we all face.”

She sounds like every street beggar I have ever run across – “whine, whine, give me money” whilst refusing to clean their own shit up. “Tidy up your own bedroom, you dirty beggar!”. At least street beggars sometimes offer a little song and dance, not a demand for what they consider an entitlement.

India is apparently a “developing country.

I suggest that the US, EU and UK also self-identify as “developing countries” and ask everyone for a few trillion dollars to repay debt that is consigning them to failed nation status.

Interest alone o US debt at 5% is going to cost 1.8 trillion dollars a year. Japan cannot afford any level of interest rate to service its debt and will have to stagnate until some sort of miracle occurs. The EU cannot stop bankrupting itself and we all know that the UK has gone full Marxist, where debt does not count or matter.

PDS – India is a nuclear power with an advanced space program – so is China.

Onwards!!!

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