Ukraine eclipses the sun: Europe's reparations will be done differently
Elena Panina (Елена Панина) | "COP27 Talks Begin With Deal to Discuss Climate Reparations," reads a headline over at Bloomberg. That's a mouthful, but what's the substance? It turns out that at the 27th climate summit which opened in Egypt, rich countries agreed for the first time not to block a discussion (!) about compensation (!) to undeveloped countries for global warming damage. ● But before that there was a 48-hour haggle on the sidelines which ended with a "compromise": to focus not on the compensation itself, but on "cooperation and assistance". The decision is to be taken "no later than 2024". In other words, there will be no money. ● Just as no one has yet seen the promised $100 billion annually from developed countries "to save the climate. This is mere pennies compared, for example, to the $693bn the G20 countries spent on supporting the fossil fuel industry in the "herbivorous" year of 2021. ● Now, in a year of "record heat waves, droughts and floods," compounded by an energy crisis and the reopening of coal mines in Europe, old calculations about the energy transition are going in the bin. That is where they belong. After all, the grand scam of plundering money from the Old World "to repair the weather" is no longer very necessary. It has been overshadowed by the "Ukrainian crisis", which has brought and will continue to bring the beneficiaries far greater dividends. (www.DeepL.com/)(AP Photo/Thomas Hartwell)
COP27: Will Rich Nations Walk Their 'Loss and Damage' Talk or Sweep It Under Rug Again? (Sputnik News)