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The World Bank — Who We Are. As they say — we’re “Accountable to ourselves”.
By Jo Nova
The World Bank is the largest climate funding multinational blob on Earth, and the world is about to end, the oceans are about to boil, but no one at the World Bank can explain where billions of dollars worth of the Earth saving funds have ended up. It’s almost as if no one there gives a toss about the climate. Indeed, if the World Bank was a giant parasitic squid feeding off the taxpayers of the West, it might look just like this.
A new Oxfam report shows that over six years, $24,000 million dollars (at least) has probably gone missing off the balance sheets, but it could be as much as $41 billion. Essentially, the World Bank budgeted to spend a lot of money, but no one bothered to track whether that money was spent, whether the budget blew out, or whether it never happened and the team went surfing in Costa Rica. Imagine if we could do our taxes this way? Indeed, it’s a bit rich to say the money was “missing off balance sheets” because apparently there […]
All gravy taps flow to Paris
Trump got the US out of Paris, but US taxpayers are still funding pointless climate-control deals.
The World Bank is supposed to be sorting out poverty. Instead it’s enriching the renewables industry, and keeping the poor stuck on unreliable low grade energy.
Trump pulled out of the Paris Climate Accords, but the US is spending billions to implement it
Tim Pearce, Daily Caller
The World Bank is spending millions in government funding from various countries, including the U.S., to implement climate mitigation strategies in line with an international agreement to fight climate change — the Paris climate accords.
No other country could sort out the World Bank as quickly as the US:
The U.S. is the World Bank’s largest supporter and shareholder owning 17 percent of organization’s shares. The next largest owner, Japan, owns just under 8 percent. Several bills moving through Congress would grant the World Bank, along with other Multilateral Development Banks, roughly $1.8 billion.
“Climate change is a threat to the core mission of the World Bank Group,” the World Bank’s 83 page Climate Change Action Plan for 2016-2020 states.
Leapfrog […]
According to the World Bank, Australia has implemented an ETS
It’s charades all round. Carbon markets are so dismal that the World Bank marks up the Australian ETS (which most Australians have never heard of) as “implemented”. Which makes it so much better than Canada’s which is “under consideration”. In fact the World Bank says Australia’s ETS covers half our emissions and 381 Megatons of CO2 or equivalent. Sounds “impressive”.
Strangely the Australian government hasn’t run an advertising campaign to brag about our landmark ETS legislation. I can’t think why? Perhaps it’s because Australian’s gave the largest victory in 20 years to a man who swore a blood oath against a carbon tax? Or maybe it’s the polls that show Australian’s don’t want to pay for renewables, 80% don’t donate to environmental causes, and 60% don’t want or don’t care about the Paris deal if they could get cheaper electricity.
Let’s poll Australians and ask ‘Do we have an ETS?” — maybe 80% would say “No”. Maybe ninety. But we do have one, waiting like a paper troll, ready to spring to life. It’s largely secret hidden legislation, buried under a title called the ERF Safeguard Mechanism — (don’t mention […]
The ambit claims know no bounds. Who else would ask for $89,000,000,000,000? If the evil “more developed” nations pay for their carbon sins, the bill for those 1.3 billion people works out at $70,000 per person by 2030 (babies included).* When the target is 89,000 billion dollars, anything the Global Saviours get, can be painted as “not enough”. (It’s never enough). A trillion in funds is a “tiny”, “insufficient” amount that is “barely adequate”. Compliant journalists will print those headlines. The crowd will pay the money and feel guilty they are not paying more.
Speaking of the loot, the world’s GDP is currently $70 trillion, so asking for $89 trillion is a claim on 8% of all the money turned over in the world economy for a decade and a half. Handsome!
There is a grand array of climate junkets for Global Worriers this year. A gala of red-carpet events culminating in Paris, from November 30 to December 11. The wheeling and dealing is on right now, months ahead — and though they talk about the importance of Paris, I expect that Paris is mostly the cabaret show (like UNFCCC event in Bali that I went to), and it’s the […]
State of the Carbon Market: Started in 2003, but wiped out in 2013
Each year for nearly a decade The World Bank has published “The State and Trends of the Carbon Market” in May or June with great fan-fare and press releases. It’s the definitive guide telling the world how many dollars are turning over in the global markets (which really means “the EU market plus a few other bits”). I’ve been quoting their figures for years — The 2012 report told us that $176 billion dollars turned over in 2011. So what was the number for the 2012 year? Whatever it is, it’s so bad the World Bank cancelled the report.
Figure what the cancellation of the report tells us about the The World Bank. Was it publishing these figures for the last nine years because they were important for investors and policy-makers? I guess not, or they would still be publishing them. By dropping it at the first major downturn, we know the reason for the report was pure PR, something for whipping up momentum about the market and getting headlines in newspapers. The numbers in 2013 became a PR disadvantage — the World Bank did […]
Global Carbon Market trading climbed to $176 billion in 2011 according to the The World Bank, which has just released it’s annual State and Trends of The Carbon Market in 2012. That makes it about the same value as total global wheat production — which supplies about 20% of the calories consumed by the 7 billion people on planet Earth.
The global carbon market disguises itself as an angel against the greedy corporates. Yet it is, itself, a giant corporate playing field. The mainstream media remains largely silent on the “vested interests” represented by this major industry that did not even exist 10 years ago.
Global Carbon Markets are worth billions
Was 2011 the peak of global carbon trading? Looks all downhill from here.
A record number of emissions products were traded in 2011, even though prices of EU carbon permits and international offsets fells well below $10 a tonne late in the year. The prices have fallen, but the volumes have increased. Look out, the average price in 2011 was $18.80US, but the prices in 2012 are less than half that. It will take a monster increase in volumes in 2012 to keep raising the total market […]
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JoNova A science presenter, writer, speaker & former TV host; author of The Skeptic's Handbook (over 200,000 copies distributed & available in 15 languages).
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