{"id":263907,"date":"2023-06-26T12:03:58","date_gmt":"2023-06-26T10:03:58","guid":{"rendered":"https:\/\/climatescience.press\/?p=263907"},"modified":"2023-06-26T12:04:02","modified_gmt":"2023-06-26T10:04:02","slug":"aussie-canada-and-nz-climate-ministers-send-money","status":"publish","type":"post","link":"https:\/\/climatescience.press\/?p=263907","title":{"rendered":"Aussie, Canada and NZ Climate Ministers: Send Money"},"content":{"rendered":"\n
\"\"<\/figure>\n\n\n\n

<\/p>\n\n\n\n

From Watts Up With That?<\/a><\/p>\n\n\n\n

Essay by Eric Worrall<\/strong><\/p>\n\n\n\n

\u201c\u2026 We need a global financial architecture that helps address the existential threat of climate change \u2026\u201d<\/p>\n\n\n\n

\n

The climate crisis is this century\u2019s biggest threat. We need a global finance pact that reflects the task ahead<\/strong><\/p>\n\n\n\n

Chris Bowen, Steven Guilbeault and James Shaw<\/p>\n\n\n\n

As climate change ministers, we urge multilateral banks to come together to help vulnerable nations, who face cascading challenges<\/p>\n\n\n\n

The science is clear. The climate crisis is the biggest single threat we face as a global community. In turn, meeting the goals of the Paris agreement and realising the opportunities of climate action is the task of the 21st century.<\/p>\n\n\n\n

No single government can address this alone. Together, we can rise to the challenge.<\/p>\n\n\n\n

When leaders gathered in Bretton Woods<\/a> in 1944 as the second world war was winding to its close, they set themselves a formidable task.<\/p>\n\n\n\n

Their job was to design an international financial system that would reduce global recessions and instability, and lead to a steadier international political environment than the one which bedevilled the first half of the 20th century.<\/p>\n\n\n\n

The result was imperfect, but nonetheless astounding. The creation of the World Bank<\/a> and the International Monetary Fund was played an important role in supporting a more stable period through the second half of the 20th century.<\/p>\n\n\n\n

If a new Bretton Woods system was being thrashed out today, there would no doubt be agreement that the present task is even greater than that of the 20th century \u2013 building a global financial architecture that helps the world stay as close as possible to 1.5C of warming.<\/p>\n\n\n\n

\u2026<\/p>\n\n\n\n

The reality is that climate finance from these multilateral institutions continues to be patchy and at times inaccessible to the nations that need it most \u2013 particularly those in the Pacific, and small island states around the world.<\/p>\n\n\n\n

\u2026Read more: https:\/\/www.theguardian.com\/environment\/commentisfree\/2023\/jun\/22\/the-climate-crisis-is-this-centurys-biggest-threat-we-need-a-global-finance-pact-that-reflects-the-task-ahead<\/a><\/p>\n<\/blockquote>\n\n\n\n

Low interest loans or other financial support = a hidden tax on everyone\u2019s pensions and savings.<\/p>\n\n\n\n

If addressing the climate crisis requires a complete redesign of the global financial system and massive subsidies from financial institutions, presumably underwritten by US taxpayers, as Bretton Woods was, then claims green energy is cheaper than fossil fuels are trash.<\/p>\n\n\n\n

No redesign of the global financial system was required to deliver today\u2019s fossil fuel powered economy. The fossil fuel economy doesn\u2019t need hidden subsidies to function, fossil fuels are heavily taxed. At least 18c of the pump price of every gallon pumped in the USA is taken as tax revenue<\/a>, more in other parts of the Western world.<\/p>\n\n\n\n

The reality is there is not enough money in the world to create a maintain the green energy systems which would be required to replace today\u2019s use of fossil fuels.<\/p>\n\n\n\n

Even if they bleed America\u2019s pension funds and financial institutions dry with their green \u201cBretton Woods\u201d scheme, they will still end up with nothing to show for all that money.<\/p>\n\n\n\n

In my opinion, the demand for a restructuring of the global financial system is the mission statement of people who on some level are aware they have already failed.<\/p>\n","protected":false},"excerpt":{"rendered":"

The reality is there is not enough money in the world to create a maintain the green energy systems which would be required to replace today\u2019s use of fossil fuels.<\/p>\n","protected":false},"author":121246920,"featured_media":263910,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_coblocks_attr":"","_coblocks_dimensions":"","_coblocks_responsive_height":"","_coblocks_accordion_ie_support":"","_crdt_document":"","advanced_seo_description":"","jetpack_seo_html_title":"","jetpack_seo_noindex":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[1],"tags":[691818056,691818102,691818228,691820492,691820465],"class_list":{"0":"post-263907","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","6":"hentry","7":"category-uncategorized","8":"tag-climate-change","9":"tag-climate-crisis","10":"tag-fossil-fuels","11":"tag-paris-agreement","12":"tag-world-bank","14":"fallback-thumbnail"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/06\/03Brthl.jpeg?fit=1920%2C1080&ssl=1","jetpack_likes_enabled":true,"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/paxLW1-16Ez","jetpack-related-posts":[{"id":271175,"url":"https:\/\/climatescience.press\/?p=271175","url_meta":{"origin":263907,"position":0},"title":"Climate crisis panel needed to avert global disasters, (alarmist) expert\u00a0warns","author":"uwe.roland.gross","date":"03\/08\/2023","format":false,"excerpt":"Summary from PA (via STV): \u2018Sir David King called for a global organisation akin to the WHO to steer humanity through the current climate crisis.\u2019 \u2014 With a prominent role for himself, by any chance? 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