French President Emmanuel Macron will host many heads of state, government officials, international organizations, and private sector leaders for a two-day Summit for a New Global Financing Pact in Paris. The objective behind this powwow is to embark upon a new worldwide climate financing infrastructure to address global warming, biodiversity challenges, and a wide range of other developmental issues. But some political observers are skeptical that the meeting will amount to anything significant after many broken promises from advanced economies at the expense of impoverished countries. The reality is that the conference will feature globalists submitting proposals to impose their will on the commoners in the name of reversing climate change.
Global Climate Financing
President Macron wants to construct a “new consensus” for the international community’s efforts to grapple with poverty, combat emissions, and shield nature from man’s industrial ingenuity. Reports suggest a broad array of measures will be discussed, including taxation on financial transactions, fossil fuels, and shipping. As is usually the case, the wisest men and women in the room will refrain from pinpointing how much pecuniary penalties will be necessary to reach pre-determined targets. Another suggestion is to reshape the International Monetary Fund and the World Bank.
Ultimately, summit participants believe that overhauling the financial system is urgent if the world wants to reach climate targets by 2030. “It’s great we are talking about the international financial architecture, but we have to see timelines, and we have not seen those timelines,” Sarah Jane Ahmed, V20 global lead and finance adviser, told AFP. “If we’re starting to do this stuff in the 2030s, it’s going to be so much more expensive, and the trade-offs are going to be far steeper.”
But Rep. Alexandria Ocasio-Cortez (D-NY) told us in January 2019 that the “world will end in 12 years” if climate change is not addressed. International renowned scientist, er, activist, tweeted in June 2018 that humanity would be wiped out by 2023 “unless we stop using fossil fuels.” So, based on these predictions from reliable sources, is there still time anyway?
Of course, that is neither here nor there. While nothing is concrete yet, French officials note that this event, which will probably generate more emissions than The View hosts pontificating, is about sharing ideas ahead of various notable climate- and economic-related meetings over the next year. Indeed, Treasury Secretary Janet Yellen, Chinese Premier Li Qiang, and European Commission President Ursula von der Leyen will undoubtedly present many outstanding policies that will not harm the impecunious and middle class. That said, AFP published a chart, courtesy of the High-Level Export Group on Climate Finance, that assessed the degree of investment necessary by developing markets (excluding China) to wrestle with climate change. The total? More than $2 trillion.
Here is a brief breakdown of what will be needed between 2023 and 2030:
- Production of decarbonized energy: $300 to $400 billion.
- Low-emission infrastructure: $400 to $500 billion.
- Sustainable agriculture: $100 to $150 billion.
- Transmission and distribution: $200 to $250 billion.
- Planting and preserving forests: $100 to $150 billion.
Remember, one of the objectives behind this summit will be to restore rich nations’ credibility. There is no better strategy to achieve this aim than to demand the indigent start pulling their weight while the globalists drown in their decadence in one of the most beautiful cities in the world.
The Green Grift
(Photo by Brendan Smialowski/Getty Images)
Where will this money come from?
The World Bank has stated that it wants to bolster its lending capacity by $50 billion over the next decade. But the international financing institution receives its funds from member countries and taps into global capital markets. The former is fascinating because Secretary Yellen recently told lawmakers during a House Financial Services Committee hearing that the US needs to step up and start handing out extra funding to these organizations to prevent China from gaining additional influence. But she also noted that the more Washington gives, the more it can shape how these entities operate.
President Joe Biden had been previously generous with hard-earned taxpayer money by extending billions to Indonesia for climate financing. The Southeast Asian country’s goal is to become a carbon-zero nation by 2060, which means today’s millennials and Generation Z taxpayers will be at or near retirement age by the time this investment pays any dividends at all. As Liberty Nation reported in November 2022, Jakarta accounts for just 1.48% of global CO2 emissions.
Indeed, a blindfolded Hellen Keller with earmuffs sitting in a closet would accurately predict that even more US dollars will be given to other states halfway around the world for climate financing.
