Failure of the $100B Green Climate Fund is Unsurprising

World

Climate change is a globally recognized problem that politicians widely tout as the issue of our time, yet developed nations appear unwilling to address the issue monetarily.

Sure, they agreed to contribute to the $100 billion Green Climate Fund (GCF) which was originally established in U.N. meetings circa December 2010.

However, numerous U.N. meetings since then, most notably the Paris Climate Change Conference in November and December of 2015, have done little to spark funding by developed nations. More importantly, there are few indications that the non-binding pledge of funds will ever come to fruition. Examining the specifics of the deal, the loose parameters for how the funds will be used and the potential for an untenable precedent make the lack of financial commitment understandable.

Recent reports show that the fund is woefully behind in its goal to rake in $100 billion annually for developing countries to establish renewable power structures, other environmentally-conscious systems, and other undetermined projects.

One estimate puts the shortage of funding at $40 billion, but many, including developing countries, have stated that number is much higher. Even the United States, which spearheaded these negotiations under the Obama administration, has only given $1 billion of the $3 billion pledged by Obama.

With such a lofty goal and a lack of punitive measures for unpaid pledges, this is the reality we should have expected.

The most liberal leaders- Obama and Canada’s Justin Trudeau are prime examples- seem to wholeheartedly believe that climate change is the imminent, mother-of-all-threats that they purport it to be. They are more than willing to, as Obama did, unilaterally pledge taxpayer dollars toward a cause that is still being debated. When it comes to the GCF, neither America nor Canada has led the charge in urging action from other developed nations.

It is China, of all countries, which is vociferously calling for other countries to do more to preserve the environment.

Don’t laugh. It’s not a joke.

But we would have guessed this paragraph was pulled from the satirical musings of The Onion:

Climate ministers from Europe, India, Brazil and South Africa have gone to Beijing in recent weeks, hoping to sustain momentum from the Paris talks despite the Trump administration’s dismantling of US regulations meant to limit American emissions.”

When one thinks of bastions of environmentalism the first country which comes to mind is Brazil, where only 40 percent of sewage is treated and 80 to 100 tons of trash is expelled into picturesque Guanabara Bay daily.

Or India, which makes Brazil look like Portland in terms of environmental policy.

India’s own Pollution Control Board estimated that over 2 million liters of domestic sewage is deposited into the Ganges river daily.

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