Developed Vs Developing World:
German Chancellor Angela Merkel is delivering a statement on her country’s climate change efforts.
She says we can ensure that our industries and businesses can develop the best technologies and ways to achieve climate neutrality.
Taken together, the EU is the third largest emitter of CO2 in the world – behind only China and the US – and Germany emits the most individually of all the 27 EU nations.
The crux of the matter is as follows:
1. Historic emissions
2. The demise of the clean development mechanism
3. Emissions per capita.
Historic emissions – 1. Whose fault is this? Not the developing world – they want their cheap power and growth that the developed world enjoyed.
Secondly, it is the demise of the Clean Development Mechanism, where from 2000 to 2009 the developing world was promised 21 year crediting period for their emission reductions at circa 10 Euro per ton and all they got was 7 years, as the developed world pulled out.
If your (developing world) investors and banks acted to green light and finance environmental projects based on 21 years of emission reduction income only to have the proverbial rug pulled from under you, and historically, you are by far a borderline offender with emissions per capita still so much lower than the developed world, why acquiesce to their demands.
And thirdly, it is emissions per capita. Surely everyone on the planet has the same right to pollute at the same rate if at all. How can there be global equality, if the developing world has the right to pollute at the rate of 15 tons per person per year and India is on 0.2 tons per year.
It’s a big Mexican standoff. The good (in short supply), the bad (most) and the ugly (Belarus).
This has been discussed at the ongoing COP26, where the Queen has shared the hope for the success of this summit. In my opinion, this COP will achieve very little.