A global fund | Climate finance | COP26 not enough.

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A global fund | Climate finance | COP26 not enough.

Post by KBleivik »

Today is the last day at COP2021 https://ukcop26.org/. Will the final document be good enough?

What is the price of our earth? How shall we price pollution, plastic in the ocean, CO2 emissions and other externalties in production and consumption? There are a lot of estimates of the cost. The higest cost estimate I have noted is that given by the Charles W. Eliot University Professor and President Emeritus of Harvard University, Lawrence H. Summers, in this video (44.20):
https://www.bloomberg.com/news/videos/2 ... 2021-video
I think globaly, we are still spending trillions of dollars on fossil fuel subsidies.
Most probably Summer's estimate is too low (irreversible effects, are they accounted for thoroughly enough?):
The damage from the 2011 floods in Thailand amounted to around 10 percent of Thailand’s GDP, not even considering all the indirect costs through a loss in economic activity in the country and abroad. By some estimates, the total costs of the 2018 wildfires in California were up to $350 billion, or 1.7 percent of U.S. GDP. Every year, climatic disasters cause human suffering as well as large economic and ecological damage. Over the past decade, direct damages of such disasters are estimated to add up to around US$ 1.3 trillion (or around 0.2% of world GDP on average, per year).
https://www.imf.org/en/Topics/climate-c ... he-economy

Finally, at COP2021 https://ukcop26.org/ we hear about climate finance. Is that enough? Probably not. The rain forest is the planet's lounges. Countries tell that they will stop deforestation i 2030. Too little too late. For years I have talked with people about a fund. The rain forest and coral reefs (the ocean's rain forests) like the Great Barrier Reef is our common fortune.

Since World War II (WWII), the rain forest has decreased with 1/3. As a fortune, the fortune has decreased proportonally. What would the status for our planet have been with an 1/3 increase? I think the most efficient and urgent remedy would be a global fund paid by each country according to a given forumlae (e.g according to CO2 emission / capita, CO2 emission / BNP, CO2 emision / world CO2 emissions and similar). That fund can be establised instantly and used to:
  1. Compensation / subsidies to reforestation.
  2. Compensation / subsidies for stopping deforestation instantly.
  3. Compensation / subsidies to countries for managing the planets common fortune.
How many trees are there in the world? BBC's well known Simon Reeve mentioned one estimate in the BBC earth https://www.bbcearth.com/ episod about Costa Rica, namely 3 trillion trees. If you make the following query: how many trees in the world

This is the first hit:
3.04 Trillion trees While it is virtually impossible to know how many trees are in the world, satellite imaging has helped procure a rough estimate. A study in the journal of 'Nature' reported close to 3.04 Trillion trees on earth"
Source: https://localtreeestimates.com/how-many ... the-world/

The same source tells us
How Many Trees Were There In The World Before Humans?
Before the advent of man, the earth hosted a whopping 6 Trillion trees-double the current number of trees in the world. Historians estimate that the forest spread must have been around 6 billion hectares of land. Still, now the planet only has a fraction of the trees it used to, thanks to intensive agricultural practices and modern civilization infrastructure. Unfortunately, we continue to lose trees at the rate of approximately 10 billion trees a year.
Costa Rica may be a small country, but they have big plans to tackle the climate crisis. Costa Rica’s environmental minister wants to build a green economy.

It is possible to do a difference as this:


video tells us.
According to a recent UNDP report, New York, 28 October 2021 - Vulnerable countries are stepping up amidst a slow response from some of the biggest emitters on the climate crisis. A new report released today by the United Nations Development Programme (UNDP) ahead of the upcoming COP26 climate negotiations reveals that while 93% of Least developed countries (LDCs) and Small Island Developing States (SIDS) had submitted enhanced national climate pledges, or plan to do so, the G20 has been dragging its feet on adhering to the core principles of the Paris Agreement to “ratchet up” their climate ambition.
Source: https://www.undp.org/press-releases/mos ... -crisis-un

November 13 2021 Cop26 finished and UN Secretary-General Antonio Guterres concluded:
COP26 closes with ‘compromise’ deal on climate, but it’s not enough, says UN chief

Full statement here:
https://www.thenationalnews.com/world/c ... statement/

Semantic links:
https://www.theguardian.com/environment ... -imf-finds
https://www.theguardian.com/environment ... action-aoe
https://www.washingtonpost.com/climate- ... te-change/
http://climatepromise.undp.org/state-of ... e-ambition
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