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COP 27: Who has the money?
The main show at COP27 is finances “we have the money to incentivize the right action but not the political will”. The problem with this is. spending money creates activity which releases CO2 (while the oceans, soil rivers are failing), and the money creates incentives to make money which means lying and corruption, game playing all the way. The hope of the finance side is ti get government guarantees that the return will be say 7% and if not the government makes the difference. So hey we can do a project that fails and still get 7%. All money spent or invested. leads o an increase in economic activity which takes energy.
The second show at COP27 (rapidly becoming the main point of discussion, is under developed nations and the plea for equity. Yes but it is being used to sidestep the need for cuts by asking for subsidized investments that will create equity by creating more economic economic activity making it a mirror of the north, activity which - crunch time - releases more CO2, If the global south increases its activity, so the argument goes, by a little bit and the global north cuts substantially all will work out and increase fairness. Seems unlikely.
The specific proposals coming out of COP, not to be confused with vague goals, are way too complicated. Only if we admit how serious this all is and accept that much is going to fail, will we release the imagination w need.