The Baku climate conference (COP29) will not develop uniform rules for financing the Paris Agreement. Because, in fact, there is not a fight for the climate, but between “big oil” and “big green technologies.” Pravda.Ru columnist Lyubov Stepushova writes about this.
president of argentina JavierMiley ordered Argentine delegates negotiating a “climate finance” deal to leave the conference in Baku. Miley believes that climate change is a hoax and is convinced that measures to mitigate its impact on the planet are part of the “socialist lie” that the UN is trying to promote.
“The climate system must not become an imposition of rules and obligations on all countries equally, which is contrary to the fundamental principles of the Paris Agreement,” Argentina’s representatives wrote in their statement at COP29. — The Argentine Republic rejects the introduction of rules and prohibitions promoted by those countries that developed thanks to doing the same thing that they now question. “Our country maintains that it is essential that all climate-related considerations be supported by scientific advances based on solid evidence, without any dogmatism.”
Analysts suggest that Miley’s position is a consequence of her election as president of the United States. donald trumpwho promised to withdraw his country from the Paris Agreement again. Why does the United States keep joining the Paris Agreement and then leaving it? Because Trump’s sponsors are oil and gas companies, the main polluters of nature, and the Democrats’ sponsors are multinational companies involved in green technologies. Near Miley in Argentina, active development of the Vaca Muerta shale gas field is planned using dirty hydraulic fracturing methods.
The UN is now governed by the “greens.” The main goal of their conference in Baku is to develop new rules to finance the fight against supposed climate warming, but in reality, to make money for their “green” sponsors. There is talk of aid in the form of loans to those countries that cannot finance the fight against greenhouse gas emissions. In addition to the criteria for the amount allocated and the schedule of assistance, countries must agree who pays.
And here is the main question. At whose expense is the banquet? Let’s say the World Bank intends to allocate $150 billion a year to support climate projects over the next ten years. Last year it committed $43 billion in climate finance to developing countries. However, it cannot say anything about the effectiveness of the loans.
They want to involve private banks in financing, but they are connected to pension funds and cannot risk investments that will simply be stolen.
In 2009, 30 developed countries committed to allocating $100 billion annually to “climate action.” Now we need trillions of dollars a year. A new study released this week by law firm A&O Shearman outlines a $6 trillion annual investment gap through 2030 to decarbonize the global economy at the pace required by the Paris climate agreement.
The European Union and the United States want China to bear some of the costs, but this will be difficult. China, the main source of greenhouse gas emissions, has its own program to improve the climate, particularly with its own “green” technologies. But they won’t let you make money from this. America’s second worst polluter, as we see, will refuse to pay anything under Trump.
Geopolitics will also prevent an agreement from being reached. French Climate Minister Agnès Pannier-Runacher canceled his trip to COP29 after the president of Azerbaijan Ilham Aliyev accused France of crimes in its overseas territories in the Caribbean.
The Russian delegation, significantly expanded compared to the previous two years, will promote the creation of common carbon markets with the BRICS countries at COP29. Russia cleans more than it pollutes, sells its carbon units, so it will not abandon the Paris Agreement. Furthermore, it is now impossible to trade with Europe without contributing to the decarbonization of literally all products; These products are simply not allowed on the European market, although, for example, Miley is not afraid of this.
