The world’s greatest polluters are set to receive $2 billion in climate aid. It pays to pollute.
The Daily Mail reports:
China and India are set to receive a £1.5 billion climate aid windfall despite scuppering a COP26 deal on reducing reliance on coal power.
Richer countries agreed to double funding for developing nations to prepare for global warming at the Glasgow conference earlier this month.
Despite having two of the fastest growing economies in the world, the UN designates China and India as ‘developing states’
Analysis shows that the two countries received a total of about £700 million from developed countries in 2019, the latest figures available, as well as millions more from investment foundations and private donors.
But the pledge made in Glasgow could see their ‘adaptation’ funding allowances rocket as high as £1.5 billion – with the British taxpayer footing as much as £38 million of the bill.
China and India will enjoy the bonanza despite helping to water down a key COP26 pledge. Instead of promising to ‘phase out’ the use of coal, the conference agreed only to ‘phase down’ its use.
The dilution of the pledge left COP26 President Alok Sharma frustrated and close to tears.
Critics said the system required reform. John O’Connell, chief executive of the TaxPayers’ Alliance, said: ‘The net zero target must not see working taxpayers landed with the bill. With the highest tax levels in 70 years, family finances are already strained and cannot be expected to pay these green grants to wealthy nations.
There are numerous challenges for the United States and many Americans would rather spend the country’s money in the US than overseas.
