Developing nations sign on to $100 billion-a-year windfall with Paris ‘climate’ agreement

Developing nations sign on to $100 billion-a-year windfall with Paris ‘climate’ agreement
Not as stranded as previously indicated.

[Ed. – It’s hilarious to call this thing a “climate agreement.”  It’s actually a “bureaucratic mechanism and guaranteed money transfer agreement.”  It sets up a mechanism for tracking emissions — which doesn’t start  until 2018 — and puts down a promise marker for the $100 billion annually to be given by rich nations to poorer ones.  The agreement’s supposed prospect of reducing “warming” is 200-proof BS.  And that’s how you get 196 nations to sign on to it.]

The Paris deal consists of a 12-page enduring agreement that would take effect from 2020 and take in voluntary commitments from all nations, expanding on the current treaty in place sealed in 1997 in Kyoto, Japan. So far, 186 countries have made pledges for the Paris deal, with nine yet to submit plans. A 19-page so-called decision text completes the package, setting shorter-term legal provisions. …

TEMPERATURE — Calling for temperature increases since the industrial revolution to be limited to 2 degrees Celsius and for the first time challenging nations to work toward a more aggressive target of 1.5 degrees. …

TRANSPARENCY — Seeks a single system for measuring the emissions of every nation, and for monitoring progress toward their voluntary targets. Every five years, starting in 2018, there would be a global assessment of whether combined efforts are sufficient. From 2020, countries must update old pledges or prepare new ones every five years. …

FINANCE — Developed countries pledged in 2009 to ramp up climate aid to vulnerable ones to an annual $100 billion by 2020. The draft agreement says that from 2020, “climate finance should represent a progression beyond previous efforts,” without mentioning a numerical target. …

Energy Shift

The goals is to send a message to investors and governments that they need to shift away from using oil, natural gas and especially coal, said Alden Meyer, who has followed the talks for more than two decades for the Union of Concerned Scientists, a U.S. advocacy group.

“It sends a very solid signal that demand for fossil fuels is going to be reduced,” Meyer said in Paris. “The industry has to transform itself. You’re seeing that now with the bankruptcies in the coal industry, and this will accelerate that trend in oil.”  [In other words, this “agreement” is all talk — which, again, is why so many nations were willing to sign it. – Ed.]

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