The k2p blog

Cancun Hotels & Resorts : image cancun-travelnet.com

While winter comes early to Europe and China with heavy November snow and temperatures down to minus 37 Celcius in N. Sweden, 15,000 of the faithful travel to the balmy, holiday resort of Cancún (min 21 deg C, max 29 deg C) for the UN / IPCC conference on climate change and to try and blow some life back into the carbon trading scheme.

That Cancún is just about money has become apparent especially since Copenhagen and Nagoya. But it is the unrestrained greed represented by the carbon-trading, money trail that is most telling.

A Global Investor Statement on Climate Change has been issued by:

259 investors – both asset owners and asset managers – that collectively represent assets of over US$15 trillion.

Reducing Risks, Seizing Opportunities & Closing the Climate Investment Gap

Investors are interested in the large potential economic opportunities that the transition to a low-carbon economy presents. In particular, investors are calling for:

• Domestic policy frameworks to catalyze renewable energy, energy efficiency, and other low-carbon infrastructure, so as to provide investors with the certainty needed to invest with confidence in receiving long-term risk-adjusted returns.
• International agreement on climate financial architecture, delivery of climate funding, reducing deforestation, robust measurement, reporting, and verification, and other areas necessary to set theglobal rules of the road, bolster investor confidence, and allow financing to flow.
• International finance tools that help mitigate the high levels of risk private investors face inmaking climate-related investments in developing countries, enabling dramatic increases inprivate investment.

But Christopher Booker in The Telegraph gets it right:

These are the bodies (major banks, insurance companies and pension funds) calling most stridently for “government action on climate change”, because they are the ones who hope to make vast sums of money out of it. They are desperate for a treaty of the type they failed to get at Copenhagen – even more so since the collapse of the US cap and trade bill – because they see their chance of turning global warming into the most lucrative fruit machine in history dwindling by the month.

Top of their wish list is “a rapid time-frame” for implementing the UN’s REDD scheme, which would enable them to make hundreds of billions of dollars by selling the CO2 locked up in the world’s tropical rainforests as “carbon offsets”, thus allowing firms from the developed world to continue emitting CO2. Under this scheme, for instance, environmental bodies including the WWF hope to share in the $60 billion which they estimate as the “carbon value” of the Brazilian rainforest.

But nothing better betrays their gloom about any result from Cancún than that they at least want it to give “a clear mandate” for the adoption of “a legally binding agreement” at the UN’s next conference, due in South Africa next year.

Tags: Cancún, Carbon Trading, climate change, climate fraud, IPCC, UN

This entry was posted on November 28, 2010 at 8:48 am and is filed under Alarmism, Business, Climate, Fraud. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.