I’m sure there’s absolutely no reason to tell you to watch your wallet, right?
Kerry teases coming announcements to finance climate change policy in developing nations
Speaking during and immediately after a meeting of the High Ambition Coalition, a group of roughly 60 countries that advocate for the strongest possible policies to address climate change at the U.N. Climate Change Conference, special presidential envoy for climate John Kerry hinted Tuesday that major announcements on climate finance are in the offing.
“A hundred billion dollars doesn’t do it, folks,” Kerry said to a gaggle of press following the meeting at the conference, also known as COP26. He was referring to the promise of $100 billion per year in financing for adapting to and mitigating climate change for developing countries, made by developed countries at the last major round of climate negotiations, in Paris in 2015. “It’s trillions of dollars that are needed. And the only way that we will get this done is if trillions of dollars are forthcoming. And they are. Tomorrow there will be an announcement. I’m not going to jump the announcement, but there are tens of trillions of dollars announced that are available to be invested in this transition.”
Tens of trillions in Other People’s money, eh?
It’s unclear who will provide the tens of trillions of dollars Kerry mentioned, but reading the tea leaves — especially his reference to investment — it sounds like the private sector will play a major role, providing loans as opposed to grants.
See? I wonder what they could be looking at?
Tariffs to Tackle Climate Change Gain Momentum. The Idea Could Reshape Industries.
The proposals come with risks, including undermining world trade rules and triggering trade disputesGovernments in the U.S., Europe and other developed nations are embarking on a climate-change experiment: using tariffs on trade to cut carbon emissions. The idea has the potential to rewrite the rules of global commerce.
Policy makers on both sides of the Atlantic are looking at targeting steel, chemicals and cement. The tariffs would give a competitive advantage to manufacturers in countries where emissions are relatively low.
Well, that’s all you’re going to get from the Wall Street Journal, unless you subscribe. But, there are plenty of other articles, and, while tariffs can have their place in attempting to level a playing field, these would just cause prices to skyrocket. I know, let’s place a huge tariff on all the people who attended COP26, see if they’re good with paying with their own money.
Read: High Flying John Kerry Teases New Way To Fund ‘Climate Change’ Action »