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Innovative taxes needed to “find” $300 billion pa for climate damage

Posted By Jo Nova On May 17, 2017 @ 3:34 am In Global Warming | Comments Disabled

In socialistspeak people don’t produce goods to make money, they “find” money lying around the crysanthymums or something, because $300,000,000,000 dollars didn’t have anywhere else to be.

Innovative finance needed to find $300 billion a year for climate losses

And what if the solar dynamo drives climate change instead?

Tax the Sun.

My climate prediction: Global climate reparations are going to employ 100 million accountants.

By Laurie Goering

LONDON (Thomson Reuters Foundation) – With money for action on climate change already in short supply, an estimated $300 billion a year needed to help countries deal with unavoidable climate losses will have to come from innovative new sources, such as a financial transaction tax or carbon tax, researchers say.

Funding for such climate “loss and damage” aims to assist people who lose their land to sea level rise, for instance, or are forced to migrate as drought makes growing crops impossible in some regions.

“What stands out most clearly is that there isn’t currently enough funding to even begin thinking about financing loss and damage, with available climate, development, risk reduction and disaster recovery financing all falling short by an order of magnitude,” said researchers at the Berlin-based Heinrich Böll Foundation.

In a report released at the U.N. climate negotiations in Bonn, now heading into their second week, researchers said about $50 billion a year would be needed by 2020 to help people who lose their land and culture or are forced to migrate as a result of climate-related problems.

As Eric Worrall notes, the UN has such an obscene amount of money they need $300 Billion per Year to Alleviate the Tedium

Harjeet Singh, who heads climate change policy for charity ActionAid, also said that setting up a new loss and damage funding body made no sense.

“It’s so tedious to set up an institution and get it going, and make sure the money reaches the intended people. It does make sense to use the existing mechanisms to transfer the money,” he told the Thomson Reuters Foundation in a telephone interview from Bonn.

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