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Hi-Jacking the Green Climate Fund!

by on 2011/12/02

The following was sent to me yesterday, after my post the day before.

Is it possible for the moral standing of our so called leaders to fall further? However, I for one have been warning about the hi-jacking of Carbon Credits of one kind or another at least since 2005. Here is a small part of what we wrote in an Arkleton Trust report in 2005:

“Moreover, the impacts on rural communities of the ‘top down’ initiatives following Kyoto, and especially the systems of trading in ‘carbon credits’ of one kind or another, seem to be potentially harmful or even disastrous! Indeed, while the effects of climate change are probably ubiquitous, the impacts of the measures to reduce emissions seem to be particularly ‘rural’, and especially so in the poorest countries! At the very least, one can argue that this is largely ‘unexplored territory’ urgently needing attention.

“No doubt climate change offers some opportunities for at least some rural communities, as well as threats. For example, renewable energy resources are mainly located in rural areas. But unless the interests of rural communities are considered, what appears as an opportunity may well turn out to be not only a threat but a truly exploitative type of development.”


Durban, South Africa, Dec. 1, 2011— Today 163 civil society
organisations from 39 countries released a letter exposing an attempt led
by the US, the UK and Japan to turn the Green Climate Fund into a “Greedy Corporate Fund” at UN climate talks in South Africa. [1] The Green Climate Fund was created to support people in developing
countries – people who are the most affected by the climate crisis but are
the least responsible for it.

But at the climate negotiations this week, developed countries are trying
to allow multinational corporations and financiers to directly access GCF

This means companies could bypass developing country governments and their national climate strategies to get to public money.

“Turning the Green Climate Fund into a Greedy Corporate Fund would be shameful, yet this is what is being attempted at the Durban climate talks,” said Meena Raman from Third World Network. “Led by the US and the UK on behalf of Wall Street and The City, this attempt to hijack developing countries’ funding is outrageous. Communities need this money to address climate change and to finance their own development – without repeating the same mistakes that the rich countries have made,” said Karen Orenstein from Friends of the Earth US.



From → Rural policy

One Comment
  1. Carbon Scandals and Renewable Energy – NILF Professor argues for more research on the economic and social impacts of large scale investments.

    Publisert 19.12.2011 on

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