The Truth is Out on the Green Climate Fund

By Pat Carlson
Eagle Forum Environmental Chairman

December 4, 2014

As most of the world is focused on Christmas, the latest international climate change conference is taking place in Lima, Peru with 190-plus nations represented. The United Nations Framework Convention on Climate Change (UNFCCC) is holding the Conference of the Parties (COP20) with the intention of working toward an agreement binding developed countries like the United States into transferring large amounts of money and technology to developing countries like China and India. The agreement is meant to be finalized next year in Paris, France at COP21.

The true intentions of the UNFCCC have become more evident over time as discussions have narrowed in on finance. In 2009 at COP15 former Secretary of State Hillary Clinton proposed that developed nations contribute $100 billion per year by 2020 to developing nations; in 2011 at COP17 the Green Climate Fund was created to handle the $100 billion and UNFCCC Secretary Christiana Figueres told the world the conferences on climate change were about the “complete transformation of the economic structure of the world.” Emissions of nations really became secondary to finance.

It is a well known fact that negotiations at all the COPs were never going to be successful until the two major emitters, the U.S. and China, compromised their positions. This happened last month when President Obama made a deal with China, the compromise being made by the U.S. not China. The current U.S. target for emission reduction is 17 percent below 2005 levels by 2020. In the deal, President Obama ratcheted up the target to 26-28 percent below 2005 levels by 2025. China agreed to only begin reducing its carbon emissions by 2030.

The world watched as the U.S. compromised its position with Greenpeace calling this a “game-changing relationship.” The agreement made without Congressional approval put a new spark in negotiations and the UNFCCC has a new confidence. Today UNFCCC Secretary Figueres felt confident enough to drop a bombshell in a press conference. She said the $100 billion is just a “miracle proxy for the trust developing countries need to have because in order for the transformation to occur $100 billion is frankly a very small sum. We are talking about trillions of dollars that need to flow in the transformation at a global level. $90 trillion will go into infrastructure over the next 15 years.”

This is the United Nations on steroids in their thinking when not one penny of the original $100 billion has been collected. $90 trillion is 900 times $100 billion. There is just so much water in the well and then the well goes dry.

The Obama administration and the United Nations are out of control. The new U.S. Congress needs to clip the wings of this out-of-control lame duck.