Hello BEST Society
The annual G-20 summit was held this last weekend in Brisbane,
Australia. Despite the Prime Minister, Tony Abbott, refusing to bring
climate change to the table, other nations maintained the agenda by
continuing discussion regarding the environment.
Several countries made announcements at the summit regarding their
contributions to the Green Climate Fund. The Green Climate Fund is an
extension of the U.N. that seeks to financially encourage developing
nations to decrease greenhouse gas emissions and cope with environmental
issues stemming from climate change. The most money promised was $3
billion from the United States, after which Japan declared it would
contribute $1.5 billion. All total, $7.5 billion dollars have been
promised, reaching closer to the goal of $10 billion. These
“investments” (as opposed to “donations”) follow in the wake of
a report by the World Bank Group that claims there could be a potential
$6 trillion growth potential for clean technologies in developing
countries over the next decade.
As encouraging as this is, no projects have yet been funded by the
Green Climate Fund. With a significant lack of specifics, the private
sector is hesitant to follow the example of these major governments.
It is imperative that the Green Climate Fund be transparent with its
accounting if it is to reach its goal of $100 billion by 2020.
Meanwhile, as leaders of the top 20 governments discussed economic
growth inside, protesters outside stuck their heads in the sand as a
demonstration of Abbott’s ignorance regarding climate change.
“G20 pledges lift Green Climate Fund towards $10 billion U.N. goal”
– Alister Doyle – Reuters UK – November 16, 2014
“$1.6 trillion market opportunity identified for clean technology
SMEs in developing countries” – H&V News – October 10, 2014
“Australians bury heads in sand to mock government climate stance”
– Sue-Lin Wong – Reutuers US – November 13, 2014
***Pictures of protestors***