On Nov. 20, officials at the 27th Conference of the Parties to the United Nations Framework Convention on Climate Change (COP27) agreed to form an international fund to promote “climate justice” by implementing “climate reparations.”
In reality, the deal struck at COP27, in which wealthy nations will pay billions of dollars to poor nations, has nothing to do with climate justice and everything to do with global wealth redistribution.
As of now, there’s no evidence that poor, undeveloped countries have suffered from increased climate change disasters due to the carbon dioxide emissions from wealthy, developed countries such as the United States.
Likewise, there’s no guarantee that the billions of dollars that would be funneled from rich countries to poor countries would be invested in “green” infrastructure. In fact, the poorer nations that are in line to receive the climate reparation payments scoffed when U.S. Climate Envoy John Kerry attempted to insert a provision into the agreement that would phase down their use of “unabated” fossil fuels.
Moreover, the climate reparations agreement ignores the fact that poor nations are poor not because of the carbon dioxide emissions from rich countries, but mostly because they lack access to affordable and abundant energy.
As we have seen with the European energy crisis in recent months, ample access to reliable and cheap energy, namely via fossil fuels, is the bedrock for a thriving economy.
If the U.N. actually sought to improve the living standards of the billions of people residing in abject poverty in developing countries, it would do everything in its power to ensure that they have total access to low-cost, dependable energy.
The principal reason that Asia has made great strides over the past 20 years in ensuring that almost all of its population has access to electricity is because it has embraced fossil fuels.
In turn, several Asian nations, notably China and India, have drastically reduced the percentage of their people toiling in poverty.
Yet, according to the COP27 climate reparations agreement, China is considered a “developing” country and is therefore exempt from paying into the newly created fund.
What’s more, the climate reparations agreement is just a down payment on what the U.N. has in mind for the years to come.
Make no mistake, the U.N.’s calls for “climate justice” via a “climate reparations” fund isn’t the end of the quest for rich nations to transfer wealth to poor nations; it’s just the beginning.