2436. More on COP and financialization
Turning Amazon evaporation into a product (rainfall in the US, proposed at COP 26) that can be paid for further financializes the world. It is one thing to use financializations to manage the world but realistically it creates flows of cash that will be siphoned off by the wealthy.
Financialization of everything will align with big data and algorithms. From one point of view - seeing that issues are now created that cross borders and are not manageable at the national level alone - such a move toward a monopolistic techno utopia world management system - is needed but such a system will be privately owned (a few corporations united with a few major governments ) . Is there an alternative path?
"Rate of return", it is being said at COP 26, must be high enough to attract funds. It means guarantees when obviously fail rates are going to be high, and the "rate of return" of living and working for the rest of society will be less while paying to support the trillions in proposed Green investments. The result is a shift of wealth towards the already wealthy.
How did COP become a purely financial affair? No talk of reforming capitalism, of democratization, of quality of life for the people?