COP26 on the way in which to the rocks? – Watts with that?

From the GWPF

Date: 6/18/21

GWPF & Financial Times

As the geopolitical risks and astronomical costs of the West’s unilateral Net Zero agenda become more and more apparent, the planned UN climate summit seems to be shaken this year (COP26).

Unsurprisingly, the reluctance of Western governments to deliver on their pledge of an annual $ 100 billion transfer fund to more than 100 developing countries could undo COP26.

“One of the main reasons for the disagreement is that rich countries appear to have missed a target of $ 100 billion in annual climate aid by 2020, fueling suspicion among the 191 countries that signed the Paris Agreement …”

The West’s own geopolitical goal also offers China, India and other emerging economies a rock-solid reason to reject western pressure for new or binding commitments.

If Biden, Boris and the EU thought emerging and developing countries would simply give in to their unrealistic Net Zero demands, they should think again. It’s not going to happen.

The heads of state and government of the USA and the EU have tried for the past 30 years to square this circle. It’s unlikely to go away in the coming decades.

There is now a growing risk that COP26 will end in another COP flop and throw the climate campaign back on the 2009 Copenhagen fiasco.

Weeks of negotiations were overshadowed by the cost of meeting the demands of the Paris Agreement

Tensions over climate finance are threatening to derail this year’s COP26 summit after weeks of preliminary UN consultations resulted in insufficient agreement on how to proceed with the core principles of the Paris climate agreement

The dire conclusion fuels further disappointment with progress made in curbing global warming after the Cornwall summit of G7 leaders failed to present concrete plans for new climate finance.

A major reason for the disagreement is that rich countries appear to have missed a target of $ 100 billion in annual climate aid by 2020, fueling suspicion among the 191 countries that signed the Paris Agreement.

The lack of funding also sets the stage for a series of difficult discussions at COP26 in Glasgow in November when it comes to agreeing new targets for climate finance.

“Rich countries are unlikely to meet the goal of formally counting 100 billion annually by 2020.

At a time when state coffers have already been emptied by the coronavirus pandemic, the agreement on climate finance – public and private funds to help developing countries reduce emissions and adapt to climate change – is more controversial than ever.

Read the full article here.

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