@GregDance Reading this hit hard but the most frustrating thing is the money required for some of these local projects in Malawi is minuscule compared to the benefits it will bring to those communities.
#ClimateAction #LossAndDamage #TaxTheRich #NoBillionaires
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#LossAndDamage
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"Attempts to establish legal obligations for businesses to pay for the impacts of #ClimateChange have been largely unsuccessful.
The UN Rapporteur’s report on “Climate Justice: #LossAndDamage” pushes for international legal development in this area.
It is within the remediation pillar that the most noteworthy proposal is found. It calls for businesses and countries with high GHG emissions to pay for the impacts of climate change."
Forbes · UN Report Calls For Businesses To Pay For Climate Change, Restructuring Of Economy
Climate Finance Delays Could Produce Devastating 3°C Future, WoodMac Warns #ClimateFinance #EnergyTransition #LossAndDamage #Banks #emissions #GlobalSouth https://www.theenergymix.com/climate-finance-delays-could-produce-devastating-3c-future-woodmac-warns/
The Energy Mix · Climate Finance Delays Could Produce Devastating 3°C Future, WoodMac Warns
242 #ClimateReparations #LossAndDamage
This is the most embarrassing 'win' of the century.
It took them 30 yrs to come this ‘far’.
Still a [very, very small] step forward in paying for the damages caused by the years of "happy living" of the few rich countries.
But even now 'they' are still procrastinating, finding ways to be difficult.
It's about money after all...
[Lives are not as important as money]
"The world agreed to create a climate reparations fund. Now comes the hard part."
by Naveena Sadasivam for Grist
[Audio available]
https://grist.org/international/loss-and-damage-board-meeting-climate-reparations-fund/
Quotes:
"A 26-member board is finally beginning work on the U.N.’s new loss and damage fund."
"After three decades of work, advocates for developing countries scored a major win at last year’s United Nations climate change conference in Dubai: World leaders unanimously agreed to set up a climate reparations fund. As the planet warms, the poorest nations are being hit hardest by drought, rising sea levels, hurricanes, and a slew of other climate impacts — even though these countries did the least to cause global warming, compared to their early-industrializing peers."
"The board’s to-do list is long. It ranges from the procedural — selecting co-chairs and agreeing on a host country for the fund — to the more substantive: deciding which countries are eligible to receive funding, how to fundraise and replenish the fund, and whether or not the World Bank will help manage the fund."
"As the main contributors to the climate crisis, wealthy countries are expected to be the primary donors to the fund. But before the fund can begin allocating money to poorer nations in need, a number of decisions need to be made."
"Even if the stalemate between the board and The World Bank is resolved, the board will still have many more thorny questions to work out, including which countries will be eligible to receive money from the fund. In the agreement inked in Dubai last year, countries agreed that the fund’s resources are meant for “developing countries that are particularly vulnerable to the adverse effects of climate change.” But the agreement did not define which countries qualify as “particularly vulnerable."
"“There’s sort of the elephant-in-the-room question, which is when is the fund actually going to get meaningful amounts of money,” said Wu. If the fund receives very little money, the board will end up designing policies meant to facilitate the transfer of millions of dollars — not the trillions that are needed, he said."
Grist · The world agreed to create a climate reparations fund. Now comes the hard part.
Die 5 Hauptergebnisse von #COP28 lassen einen etwas ratlos zurück: Besser als befürchtet, deutlich schlechter als die Wissenschaft empfiehlt.
Und es sei erinnert:
Globaler #LossandDamage-Fund = $ 700 Mio.
Ahrweiler = € 30 Mrd.
https://theconversation.com/five-major-outcomes-from-the-latest-un-climate-summit-219655
The ConversationFive major outcomes from the latest UN climate summitWeak language at COP28 is at complete odds with the officially-recognised science.
30:00 minute mark:BBCNewshour - COP28: agreement calls for "transition away from fossil fuels" - BBC SoundsDelegates at the UN Climate Conference agree to "transition away from fossil fuels"
I talk about #COP28 #FossilFuelPhaseOut #ClimateJustice #LossAndDamage #JustTransition & global climate governance - the hypocrisy of it & its enormous possibilities, about signal & substance.
On CBC Radio @CBC, episode link here, check it out!
CBC ListenActivists clash with oil industry at COP28 | The Current with Matt Galloway | Live Radio | CBC ListenClimate activists have voiced concerns about the growing influence of oil and gas industry lobbyists at COP 28. As the climate conference wraps up in Dubai, we hear what progress has been made, and where the sticking points have been.
Continued thread
Underfunding #LossAndDamage is a political choice, a power show - the money is there to finance wars and other profitable enterprises. What they say is ‘we know what you need, we know what we owe you, but we’ll keep subduing you instead’.
110 nation representatives celebrate themselves for pledging to a three-fold increase in #renewable energy development by 2030 - this means nothing for the climate if fossil fuels keep on being burnt.
And who will pay for it and decide how it’s implemented? How will GS countries participate if their resources & political agendas are driven by the will of vulture funds?
4/n
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And to make up for the last four years of contributing nothing (and even putting aside the many years of failure under the #Coalition between 2013–19 when finances ought to have been ramping up to meet the 2020 goal), #Australia has a backlog of about $AU20b to be seen as anything like a 'fair' contributor to the #GreenClimateFund, remembering that the US$100b/yr represents only a fraction of what the developing world needs to ensure a just and swift transition to a climate-stable future.
And that's before we consider the #LossAndDamage fund announced a few days ago (another long-term sticking point in #UNFCCC negotiations and a separate piece of international #ClimateFinance), to which Australia has not yet made any kind of pledge.
Until Australia takes credible steps towards those kinds of figures, Australian government promises ought to be treated by all our neighbours as so much smoke.
7/8
#AusPol #ClimatePol
US threatens ‘appropriate responses’ after Iran-backed assault on commercial ships https://www.politico.com/news/2023/12/03/u-s-threatens-appropriate-responses-after-iran-backed-assault-on-commercial-ships-00129819?utm_source=RSS_Feed&utm_medium=RSS&utm_campaign=RSS_Syndication #Lossanddamage #Conflict #Maritime #Military #Missiles #Security #Shipping #Politics #Defense #Weapons #Drones #Cargo
POLITICOUS threatens ‘appropriate responses’ after Iran-backed assault on commercial ships While the attacks were carried out by Houthis, the United States has “every reason to believe” they were “fully enabled by Iran."
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@Schouten_B You're the one gaslighting: China's annual output has only exceeded the rich countries in recent years, since we outsourced most of our manufacturing to it. Atmospheric CO2 and its effects on temperature are cumulative: the overwhelming majority of emissions are due to North America and Europe since the Industrial Revolution. We are the most responsible. We need to do the most to fix it. #COP28 #DecarbonizeNow #LossAndDamage #ClimateJustice
@breadandcircuses
#MattGolding #Cartoon: @GoldingCartoons The #COP28 loss and damage fund #lossanddamage @theage #alttext
"For years, climate-vulnerable countries have asked wealthier nations – who have largely amassed their riches through unbridled CO2 emissions – to take their fair share of responsibility for the #climate crisis and pay up for the damage caused.
The fund launched on the first day of the UN climate negotiations this year is meant to address that imbalance."
#LossAndDamage #LossAndDamageFund
https://www.aljazeera.com/features/2023/12/2/reparations-fund-historic-but-real-fight-begins-now-climate-campaigners
Al Jazeera · Reparations fund ‘historic’, but real fight begins now: Climate campaigners
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The agreement reached yesterday at #COP28 regarding #LossAndDamage funds, with Germany planning a €100M contribution, is a first step. But how serious is the German commitment if every year €65B is invested in environmental destruction?
Between 2021-2023, @wintershalldea poured nearly $154M annually into fossil fuel exploration. Yet,
@iea ’s warning was clear: No new fossil investments if we're to meet the Net Zero Emissions by 2050 goal and cap global warming at 1.5°C. Even if we believe the '1.5 is dead', “investing in new fossil fuel infrastructure is moral and economic madness”(
@antonioguterres).
How is this possible? Let’s #followthemoney.
Banks provided a total of $14.1B to
Wintershall Dea from 2019 to 2022 in the form of syndicated loans and underwriting bond issuances. https://www.urgewald.org/en/medien/fossil-financiers-wintershall-dea-uncovered-urgewald-razom-we-stand-and-deutsche-umwelthilfe
Also,
Wintershall Dea
promotes Carbon Capture & Storage (CCS) and blue hydrogen production, which requires enormous #subsidies while failing to deliver the promised solutions https://www.urgewald.org/sites/default/files/media-files/Briefing_WintershallDea_engl_FINALV03.pdf
www.urgewald.orgFossil financiers of Wintershall Dea uncovered: urgewald, Razom We Stand and Deutsche Umwelthilfe call on banks and investors to cut ties with the company | urgewald e.V.Investors and banks still holding onto Wintershall Dea, despite its continuous operations in Russia and no plans to transform its obsolete 100% fossil business model Ukrainian and German NGOs publish research on the financing of Wintershall Dea’s oil and gas business Financial institutions called out to cut ties with Wintershall Dea – also in view of potential IPO
Pledges so far at #COP28 to #LossAndDamage Fund:
$100 million
$100 million
$60 million
$17.5 million
Cost of one Lockheed Martin F-16 Block 70/72 fighter jet package: $108 million*
So that's the equivalent of 2.6 F-16 fighter jet sales. #COP28UAE
* Costs vary between F-16 variants, jet engine, avionics, training and logistics package on offer: approximately from $63 million to $196 million per aircraft. Excluding missiles, bombs and other expendables.
Pathetic
announces $17.5 million for the #LossAndDamage fund
In 2022 oil company profits were:
ExxonMobil $55.7 billion
Chevron $36.5 billion
ConocoPhillips $18.7 billion
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@HeavenlyPossum i joined a webinar today organised by the Climate Social Science Network in memory and honour of Saleemu Huq, who recently passed away. Everyone shared their memories of this truly great and kind man, and the discussion (about climate obstruction and #LossAndDamage, for which H was a key advocate) was so good that i felt great fondness for Saleem and everyone there. So many good, intelligent people on our side.
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22/n A couple of weeks ago, at a pre-COP28 meeting in #AbuDhabi, there was further real progress, when rich and poor country governments managed to agree on a blue-print of the #LossAndDamage fund. This will be announced officially in #Dubai at #COP28 next week, but it’s really good this is already in place - now we “just” need actual money to start materialising.
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21/n Another key concern at #COP28 is #LossAndDamage. This was the one area where there was real progress at #COP27 last year in Egypt: for the first time, countries agreed to set up a fund for vulnerable countries hit hard by climate disasters. Loss and Damage is simultaneously essential and deeply inadequate as a #ClimateJustice measure: no amount of money is going to compensate for the loss of entire Islands or cities! But it must be provided
The untimely death of a masterful climate communicator Dr Saleemul Huq is a huge blow to the international climate community, especially with the #COP28 around the corner.
Article by Columbia Journalism Review:
https://www.cjr.org/the_media_today/saleemul_huq_obituary_climate_change.php
#climatechange #climatejustice #LossAndDamage #climatecrisis
Columbia Journalism ReviewThe untimely death of a masterful climate communicator<p>Two years ago today, I boarded a train from London to Glasgow to cover COP26, a huge United Nations climate summit, from a media perspective for CJR. Ahead of time, I was advised to call Saleemul Huq, a prominent climate scientist from Bangladesh who had recently written a newspaper column offering journalists and readers advice […]</p>