United States climate envoy John Kerry pitched a new plan at the United Nations Climate Change Conference, also known as COP27, now underway in Sharm El-Sheikh, Egypt.
The plan calls for private corporations to send vast sums of money to developing nations.
Why, you might be wondering, would businesses want to send their cash to developing nations?
You see, this is why U.S. climate envoy John Kerry needs a plan.
“Our intention is to put the carbon market to work, to deploy capital otherwise unemployable, to speed the transition from dirty to clean power,” Kerry said during an event at the summit.
What does that mean, exactly? Let’s break it down.
The “transition from dirty to clean power” means closing down or never building affordable power plants that run steadily on coal or natural gas and instead relying on expensive and intermittent solar and wind energy. “Capital otherwise unemployable” means the government has put restrictions on businesses that limit their investments or operations. “Put the carbon market to work” means selling permission slips for those businesses to invest or operate.
Kerry’s plan calls for U.S. businesses (and indirectly, U.S. consumers) to finance the “transition” in developing nations.
This is yet another scheme to sell carbon credits, those sketchy creations that supposedly certify that somewhere in the world, something measurable is being done to reduce greenhouse gas emissions, and this measurement can be chopped…
