Global Plan Leaves Climate Change In Ruins

By Douglas McIntyre  •  November 24, 2024
Dee Onederer Pexels

There was little optimism about COP29 among those who understood that the investment needed to halt global warming could rise as high as $1 trillion annually for as long as two decades. As the gathering ended, the plan was to make $300 billion a year available globally. All of that must come from the world’s richest nations, and much of it must go to the world’s poorest. In the past, arrangements to do this have failed. 

*Global Warming Solutions

*Surrender In Africa

*The Rising Of Inflation

Indian delegation representative Chandni Raina told Reuters, “This, in our opinion, will not address the enormity of the challenge we all face. Therefore, we oppose the adoption of this document.” A chorus of people in attendance agreed with him. Ironically, India is the world’s third-largest polluting nation after China and the US.

Rich Nations And Poor Ones

The proposed plan made the interests of nations clear. “It also laid bare divisions between wealthy governments constrained by tight domestic budgets and developing nations reeling from costs of storms, floods and droughts,” Reuters reports. Many scientists believe global warming has gone beyond the point of no return. Temperature increases can be slowed but not steadied or reversed. Additionally, the modest measures proposed at COP29 mean that rising temperatures could accelerate. By 2050, part of the planet will not be habitable, which will grow as each decade passes. 

Among the most contentious issues that have not been solved is that there is no ready mechanism for climate capital to move from rich nations to poor ones. Rich governments do not want to give the money away, and poor countries cannot repay loans, so very little money may be provided at all.

  1. Finding a fiduciary financial advisor doesn't have to be hard. SmartAsset's free tool matches you with up to 3 financial advisors that serve your area in 5 minutes.
  2. Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests. Get on the path toward achieving your financial goals!
More from ClimateCrisis 247

Similar Posts