Bonn update: The New Climate Carbon Economy

(Bonn) Monday, June 1, 2015, the United Nations Framework on Climate Change UNFCCC began the latest climate change conference in Bonn, Germany this week.  This conference is being held mid-way between the Conference of the Parties COP20 held in Peru last December and COP21 to be held in Paris, 2015.  It’s purpose is to tweak the COP20 document and make it palatable enough for nations to sign-onto an extreme energy rationing, legally-binding agreement in Paris.   

In the minds of human-induced global warming advocates, Paris must not fail.  They see this as their last ditch effort to save the world from warming more than 2 degrees celsius by the next century.  According to their illogic, saving planet Earth from global warming destruction can only happen if we eliminate all fossil fuels and become carbon neutral by 2050. This despite the fact that satellite measurements show now increasing temperatures over the last 19 years.

If it were possible to be carbon neutral, more of course would have to happen than just a legally-binding document.  They would have to gut themselves of the important fossil fuels they use to power their economies. But Climate Change is about so much more than removing CO2 from the atmosphere. UNFCCC Executive Secretary, Christiana Figures says it better than anybody “the climate change process is a complete transformation of the economic structure of the world.”  It is about power and creating global equity.  The price tag for this transformation and equity is $90 trillion to be “invested” by UN bureaucrats by 2030. But wait … there’s a problem.

In 2009 at COP17 in Copenhagen, former U.S. Secretary of State, Hillary Clinton, proposed establishing the Green Climate Fund GCF to be funded by developed nations at $100 billion per year until 2020. Little money was contributed to the GCF since then, so the $100 billion per year became $100 billion by 2020.  Still 6 years later, less than $10 billion has been contributed or even promised.

Realizing developed countries were not going to contribute, U. N. Secretary General, Ban Ki-moon looked to woo the private sector by holding a conference for businesses in New York last September.  Then the United Nations Educational, Scientific, and Cultural Organization UNESCO held a Business Climate Conference in Paris, June 20 and 21, 2015, just a week before the Bonn conference.  

Their schmoozing appeared to work. The Paris conference produced significant

CFACT''s Pat Carlson reporting from Bonn

CFACT”s Pat Carlson reporting from Bonn

results.  Twenty-five organizations representing 6.5 million companies are now calling for carbon pricing, disclosure of investments and agreeing to divest capital from carbon producing industries.  Also, chief executive officers of Europe’s big six oil companies, BP, Royal Dutch Shell, Statoil, Total, Eni and the BG Group issued a letter to Christiana Figures calling for carbon pricing.  No one knows what was promised behind the scenes, but many seemed willing to sign a deal with the devil.  They saw the climate change regulation train leaving the station and they wanted to be onboard, not left behind.

Putting a price on carbon has the potential of creating a new global cap and trade stock market.  This allows companies to cut their emissions by investing less in western countries with emission caps but still make money by investing in third world countries having no emission caps.  This may be a good deal for these rich businesses, but it’s a bad deal for the consumers. This process redistributes wealth from rich to poor while companies still make a profit.  Citizens of western countries, of course, will have a reduction in lifestyle coupled with much higher energy prices.

   Secretary of State, John Kerry said “we are looking at the biggest market in the history of humankind.”  Mary Robison, Special Envoy for Climate Justice and former High Commissioner of the U.N. Human Rights Commission, says, “I believe carbon is the new currency.”

Encouraged by the Paris business conference, Christiana Figueres says climate change is now “unstoppable and irreversible. It is going to happen no matter what we do.”

 It seems ironic the Greens and their liberal allies would rejpice about rebuilding the world economy around the very thing they hate and are trying to eliminate – carbon.

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About the Author: Pat Carlson

Pat Carlson