“The UK is not the only wealthy country accused of rowing back on its climate commitments.
ITV News has learned that the United States is refusing to support proposals to provide tens of billions of pounds of extra money for the World Bank.
Money it needs to help developing… pic.twitter.com/1JPqWbvFsT
— ITV News (@itvnews) October 12, 2023
Well, this seems reasonable enough.
Someone has to change the weather, and third worlders probably have some kind of secret ancestral knowledge about how to get that done.
Poor countries should be provided with $300bn (£246bn) a year from the International Monetary Fund to finance their fight against the climate crisis, the Nobel prize-winning economist Joseph Stiglitz has said.
Speaking to the Guardian at the IMF’s annual meeting in Marrakech, Stiglitz said developing nations needed their equivalent of the US Inflation Reduction Act – a package of grants and subsidies designed to promote green growth and jobs.
Stiglitz said the battle against global heating would only be won if poor countries were onboard but there was no hope of them coming up with their equivalent of the act, which he said was expensive and flawed but working.
Instead, he said rich countries should support the creation of $300bn of IMF special drawing rights (SDRs) each year to finance a global green transition.
The US economist admitted it would be impossible to get his plan through the US Congress in its current deadlocked state but said he would continue to campaign for it.
“As the scale of climate change impresses itself more and more on us, we are going to need bolder things. When the time comes and we are frying and somebody says: ‘How do we get out of the frying pan?’, this [annual SDR allocations] is one way of doing so.”
Please note that there is still no evidence the weather is even changing at all, let alone that this would be a bad thing, let alone that humans could stop it.
❓WHY WE ARE TAKING ACTION
The IMF & World Bank are meeting now in Morocco for their annual meeting
🎥”We are asking for the cancellation of the debt. It is an obligation that the Global North has. 💯… pic.twitter.com/sKbGs5zCbc
— Debt for Climate (@DebtforClimate) October 11, 2023