Taxing a basic molecule of life on Earth was never going to be easy.
Leaked paper exposes EU abuse of climate loophole
EXCLUSIVE/ European Union countries exploited loopholes in United Nations forestry rules to pocket carbon credits worth €600 million and the equivalent of global-warming emissions from 114 million cars.
That’s slightly more cars than exist in Germany, France and Italy combined.
You will not believe, governments overstated their logging targets then claimed credits for the forests they didn’t cut down, and the EU paid them for it.
Just saving the world, one lie at a time.
The document said that leaving the loophole open risked 133 million tonnes of unearned carbon credits falling into governments hands.
133 million tonnes is worth €665 million at today’s carbon price and is equivalent to 127 million cars on the road.
It’s a market based on intentions instead of a product. What could possibly go wrong?
Once upon a time governments bragged about how much they spent on “climate change”. Every Climate Quiz or tin-pot-program to insulate a chicken-run was wrapped under the Climate Action banner so that politicians could claim they were saving the world. Nowadays voters have voted for the guy who called it a hoax, and the funding’s gone underground because he was going to boast about how much climate funding he’d cut.
When I wrote Climate Money in 2009, a lot of the spending was already documented, under the Climate Change Science Program or by the GAO. How times have changed.
To Protect Climate Money, Obama Stashed It Where It’s Hard to Find
President Donald Trump will find the job of reining in spending on climate initiatives made harder by an Obama-era policy of dispersing billions of dollars in programs across dozens of agencies — in part so they couldn’t easily be cut.
Climate change is so important that no one even estimates what the government spends on it:
The last time the Congressional Research Service estimated total federal spending on climate was in 2013. It concluded 18 agencies had climate-related activities, and calculated $77 billion in spending [...]
Giant climate funds issue giant press releases but not much else.The pledges aren’t being kept, hardly any money is being handed out. The posterchild drowning Islands are being left dangling in danger because the forms are too complicated.
Everyone wants to save the world, but not enough to make the forms simpler: Red tape’ locking small island states out of billions in climate funds
Many small developing countries are so administratively stretched that they cannot fill in all the complex forms needed to access climate money to help them to reduce emissions and adapt to increasing global temperatures, rising sea levels and extreme weather.
Small Pacific Islands will drown in red tape before they drown in a rising ocean:
Although billions of dollars of climate money is theoretically available, in practice red tape and paperwork makes it is extremely hard and slow to get hold of, says the Commonwealth Secretariat, the central institution of the 53 Commonwealth countries, who are among the hardest hit by climate change.
UN priorities? What’s more important — collecting funds to save the Islands, or saving the actual islands…
Fiji’s high commissioner in London, Jitoko Tikolevu, said the process [...]
The tide of money, the vested interests flows
H/t to Eric Worrall at WattsUp.
The current “green” industry is already around $1.5 Trillion a year. Mark Carney, the Governor of the Bank of England said he expects this to grow to $5-7 trillion.
Financial Post: Climate change a $7 trillion funding opportunity
He said that given the enormous funding needs for clean infrastructure — he estimates at somewhere between $5 trillion and $7 trillion a year — investment opportunities will rebound.
If clean green energy was efficient, cheap and reliable there would be no “funding need” as the market would leap to exploit that opportunity. Instead most leading investors act like they are skeptics. The fact that central bankers are selling it so aggressively says a lot. Perhaps central bankers want to help the poor and save the world, or could it be that the entire financial industry will profit from a fake, forced market and another fiat currency? What are the brokerage fees on a $7T market…
Again we get this “free market” myth:
[Carbon pricing is the cleanest way for markets to judge the tangible exposure to climate change," said Carney
From the Republican Attorney’s General in the US – the message that policing the “global warming debate through the power of the subpoena is a grave mistake.” The Rep AG’s point out this is a public policy debate, and if other AG’s are going to use the subpoena’s to shake down companies like Exxon for supporting free speech on one side of the debate, then suddenly a lot of players are opening themselves to similar cases.
Wall St Journal: Two can play at Climate Fraud
Eric Schneiderman and Sheldon Whitehouse, call your office. The New York Attorney General and Rhode Island Senator who helped to launch the prosecution of dissent on climate change may not like where their project is headed. Thirteen state Attorneys General have sent a letter pointing out that if minimizing the risks of climate change can be prosecuted as “fraud,” then so can statements overstating the dangers of climate change.
Since the money in this debate is so one sided, it follows that a lot more people have profited from exaggerating the scare:
But the AGs’ letter points out that, “If Exxon’s disclosure is deficient, what of the failure of renewable energy [...]
The Guardian are in hot pursuit of the nickel and dime Coal-Yeti.
Analysis of Peabody Energy court documents show company backed trade groups, lobbyists and thinktanks dubbed ‘heart and soul of climate denial’
The thing is, if Peabody was keeping the heart and soul of climate denial alive, it is now flat broke — it’s over for climate denial. No heart. No soul. Denial is dead! But can anyone spot the difference… ?
Poor Guardian schmucks. Peabody were funding people who write what they believe, so Peabody came and went and the same people are still writing what they believe. If climate skeptics were in it for the money, they’d be alarmists.
Yes, Do. Lets talk about the Funding If climate skeptics were in it for the money, they’d be alarmists.
Suzanne Goldenberg and Helena Bengtsson repeat all the usual sacred incantations completely blind to the real money. At one point they are so stuck for “big money” they whip out a $10,000 figure, and in an article about Peabody, that’s not even from Peabody, but from Arch Coal. General Electric make $20 billion a year in profits from “renewables” — when is The Guardian going to expose [...]
Shame investors who manage tens of billions are not good at assessing risk. They are missing something big and obvious:
Half of leading investors ignoring climate change – study
Reuters: A report by the Asset Owners Disclosure Project (AODP), a not-for-profit organisation aimed at improving the management of climate change, found that just under a fifth of the top investors – or 97 managing a total of $9.4 trillion (6.4 trillion pounds) in assets – were taking tangible steps to mitigate global warming.
These include investing in low polluting assets or encouraging the companies they invest in to be greener.
How low is this bar. Less than one-fifth are doing anything “tangible”. To even get the tally up to a half “not ignoring climate change”, the researchers had to include a category called “first steps”, nothing tangible mind you. Perhaps someone sent an email?
Anyone might think that four fifths of top investors think climate change is a complete non-event.
A further 157 investors managing a total of $14.2 trillion were taking “first steps” towards addressing climate change, while 246 managing $14 trillion were doing nothing at all, the report said.
Got no actual data-trail on “big-oil” dollars? That’s no reason not to run another name-calling smear article. A Yale group has spent countless months reading through the tea-leaves of old worn out climate themes and think they’ve discovered that the Kochs and Exxon carried the most influence.
What’s really remarkable is that the Yale group had so much funding they could trawl through 40,000 documents, track 4556 people and 164 “contrarian” organisations across 20 years and through 39 million words. Yet despite this, they found nothing. There’s no smoking gun, no proof that anyone was being dishonest, that the messages were wrong.
What the Yale team found was that “documents produced by lobbyists backed by two key corporate benefactors (Koch and Exxon) — proved to have been reproduced more often and with more “semantic similarity”. Justin Farrell (of Yale) thinks that means the Koch’s and Exxon are artificially skewing public opinion. Here’s another hypothesis — Exxon and the Kochs are smart businessmen. They spotted the leading skeptics in the 1990′s and gave them some help. The messages stuck with the public because they were good ones, not because they were “oil funded”. Farrell gets cause and effect confused.
Despite running [...]
Climate Change Business Journal estimates the Climate Change Industry is a $1.5 Trillion dollar escapade, which means four billion dollars a day is spent on our quest to change the climate. That includes everything from carbon markets to carbon consulting, carbon sequestration, renewables, biofuels, green buildings and insipid cars. For comparison global retail sales online are worth around $1.5 trillion. So all the money wasted on the climate is equivalent to all the goods bought online.
The special thing about this industry is that it wouldn’t exist if it weren’t for an assumption about relative humidity that is probably wrong. As such, it’s the only major industry in the world dependent on consumer and voter ignorance. This is not just another vested interest in a political debate; it’s vested-on-steroids, a mere opinion poll away from extinction. You can almost hear the captains of climate industry bellowing: “Keep ‘em ignorant and believing, or the money goes away!”.
To state the obvious:
Policy, or the anticipation of new policy, has been one of the biggest drivers of the industry, the report shows.
Most industries this size exist because they produce something the market wants. They worry that competitors might chip [...]
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