$100 BILLION IS CHUMP CHANGE...:

Biggest Obstacle to Global Climate Deal May Be How to Pay for It (ELISABETH ROSENTHAL, 10/15/09, NY Times)

A number of proposals are on the table to generate money to help developing countries rein in future emissions as well as to adapt to the effects of climate change. But most remain far from producing money.

In September, the European Union offered a plan in which “industrialized nations and economically more advanced developing countries” would provide $33 billion to $74 billion a year to help poor countries adapt, with the European Union’s share placed at $3 billion to $22 billion. The climate bill passed by the House in the United States in June would auction emissions permits, and donate a portion of revenues to help poor countries. The climate legislation is now before the Senate. [...]

When Germany and France suggested at a recent Group of 20 meeting in London that they would contribute to the fund by reducing other types of aid, India rebelled. Financing to help poor countries adapt to climate change or to reduce emissions “should not be at the cost of other monetary support,” said Pranab Mukherjee, India’s finance minister.

Equally contentious is the issue of which countries should give, and which should receive. Should the contributors be only industrialized nations, or should they include rapidly developing — and increasingly wealthy — polluters like China?

Xie Zhenhua, the lead Chinese climate negotiator, speaking at a news conference in New York last month, said the United Nations should not expect China to pay.

“Global warming is a result of CO2 from developed countries during their industrialization,” Mr. Xie said. “China is one of the countries that has borne the brunt of that.”

...unless you expect democracies to transfer it to other countries.

Posted by Orrin Judd at October 17, 2009 6:02 AM