It’s called ‘an investment blueprint for greening the global economy’, but means digging up ever more of the planet to find metals, minerals etc. with machinery mostly powered by the dreaded (by climate obsessives) fossil fuels. The imagined benefit is impossible to quantify – just pay up. Every year.
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Developing and emerging countries—excluding China—need investments well beyond $2 trillion annually by 2030 if the world is to stop the global warming juggernaut and cope with its impacts, according to a UN-backed report released Tuesday. Phys.org reporting.
A trillion dollars should come from rich countries, investors and multilateral development banks, said the analysis commissioned by Britain and Egypt, hosts respectively of the 2021 UN climate summit in Glasgow and this week’s COP27 event in Sharm el-Sheikh.
The rest of the money—about $1.4 trillion—must originate domestically from private and public sources, said the report.
Current investments in emerging and developing economies other than China stand at about $500 billion.
The new 100-page analysis, Finance for Climate Action, is presented as an investment blueprint for greening the global economy quickly enough to meet Paris climate treaty goals of capping the rise in global temperatures below two degrees Celsius, and at 1.5C if possible.
Warming beyond that threshold, scientists warn, could push Earth toward an unlivable hothouse state.
“Rich countries should recognise that it is in their vital self-interest—as well as a matter of justice given the severe impacts caused by their high levels of current and past emissions—to invest in climate action in emerging market and developing countries,” said one of the report’s leads, economist Nicholas Stern, who also authored a landmark report on the economics of climate change.
The report is among the first to map out the investment needed across the three broad areas covered in UN climate talks: reduction of the greenhouse gas emissions that drive warming (mitigation), adapting to future climate impacts (adaptation), and compensating poor and vulnerable nations for unavoidable damages already incurred, known as “loss and damage”.
Fossil fuel lock-in
It calls for grants and low-interest loans from the governments of developed countries to double from about $30 billion annually today to $60 billion by 2025.
“These sources of finance are critical for emerging markets and developing countries to support action on restoring land and nature, and for protecting against and responding to the loss and damage due to climate change impacts,” the authors said.
“Emerging market” countries include large economies in the global south that have seen rapid growth—coupled with rising greenhouse gas emissions—in recent decades, including India, Brazil, South Africa, Indonesia and Vietnam.
Full article here.
Tallbloke's Talkshop 
Precisely how and why the Cretaceous Hothouse world was unlivable is a complete mystery to me.
An Analysis of the Earth’s Energy Budget
[…] Getting sillier by the day: ‘Global South needs $2 trillion a year to tame, cope with climate’ |… […]
The Greatest Need is to invest in Honest Science, a fraction of that cost could accomplish some Honest Climate Science that would find that rather than adding one Molecule of CO2 to Ten Thousand Molecules of Atmosphere, the Climate is regulated by Abundant Water in All of its Changing States. It snows more in cold places when Tropical Warm Currents remove Sea Ice and ice accumulates for hundreds and/or thousands of years, then the more weight and volume of ice spreads and cools the oceans and land, cooling with thawing and reflecting, forming sea ice to halt the evaporation and snowfall, halt the sustaining of ice, during hundreds and/or thousands of cold years while the ice depletes because it is thawing and not being replenished. The Climate Systems have alternating warmer and colder periods, caused by the alternating sea ice control with evaporation and energy radiated as IR out in warmest times forming ice and then sea ice control stopping evaporation and IR out while ice reflecting and thawing cool the Climate. The Climate Cycles are Dynamic and a Static Analysis will not ever come close to describing them. ECS is a Static Term, it has no place in Nature which is Dynamic. Peer Reviewed Static Consensus Climate Science does not Ever Consider Natural Dynamic Cycles that use Abundant Water in All of its Changing States. IR out in Warmest Times Cool the Climate Systems with Thawing during Coldest times. Like your Freezer which removes the energy from water to form ice and then the Ice Keeps your Ice Chest Cold at the Beach Later.
Warm Periods last hundreds or thousands of years and then corresponding cold periods follow for hundreds or thousands of years.
Climate just Came Out of the Little Ice Age, it is supposed to be Warm Now, this natural warm time will last a few hundred years, Like the Medieval Warm period did, Like the Roman Warm Period did, Like All Warm Periods in History and Data from the Past.
“grants and low-interest loans”
Same old vehicle for exploitation
Why not $180 trillion a year?
oldbrew’s report on Marlowe Hood’s report for phys.org on Grantham Institute report on ‘Climate’ Finance.
She provides no link the actual report. I found it (see link below). Quick check shows she is making up things that are not in the report. She wraps herself in the cloak of respectability from Grantham, then makes up her own schtick.
Such is the world of science reporting.
Click to access IHLEG_Report_Finance-for-Climate-Action.pdf
she is making up things that are not in the report
Jut like the IPCC’s ‘summary for policymakers’…
Alarmist scenarios, rather than more plausible projections, are therefore driving policymaking.
https://www.spiked-online.com/2021/08/09/what-the-ipcc-climate-report-doesnt-tell-you/
“Emerging market” countries include large economies in the global south that have seen rapid growth—coupled with rising greenhouse gas emissions—in recent decades
Fossil fuels >>> rapid growth. Who knew?
Nice to know there are so many optimists out there!
the global oligarchs are totally out of control now. AGW was bad enough, but with the Long March through the bureaucracies and elected governments by sock puppets of the NWO/WEF, there is no constraint on them.
Trillions will be passed through via the Green Blob to fall into the crony bank accounts. Western world power systems will fall to Third World status of intermittent, unreliable junk power, and pretty soon, too.
There is not a single credible instance of “loss and damage”. Of anything, additional CO2 has greened many of these countries. Nowhere has had permanent higher temperatures or wetter/dryer conditions and the IPCC cannot show that extreme events in any country have increased. So how can there be “damage”.
It has nothing to do with facts, P44.
“We’ve got to ride this global warming issue. Even if the theory of global warming is wrong, we will be doing the right thing in terms of economic and environmental policy.”
– Timothy Wirth, President of the UN Foundation.
“No matter if the science of global warming is all phony… climate change provides the greatest opportunity to bring about justice and equality in the world.”
– Christine Stewart, former Canadian Minister of the Environment.
“The data doesn’t matter. We’re not basing our recommendations on the data. We’re basing them on the climate models.”
– Prof. Chris Folland, Hadley Centre for Climate Prediction and Research.
“The models are convenient fictions that provide something very useful.”
– Dr. David Frame, climate modeler, Oxford University.
“I believe it is appropriate to have an ‘over-representation’ of the facts on how dangerous it is, as a predicate for opening up the audience.”
– Al Gore, climate Change activist.
“It doesn’t matter what is true, it only matters what people believe is true.”
– Paul Watson, co-founder of Greenpeace.
“The only way to get our society to truly change is to frighten people with the possibility of a catastrophe.”
– Daniel Botkin, emeritus professor.
South Africa definitely needs trillions in “Global Warming” cash – mostly because the ANC government’s personal bank accounts are down to a few million each.