Didn't know whether to file this one under Environment, Tin Foil Hat, or World Economy, as it has elements of all three. The Guardian, a very pro-green paper on the whole, has the story of a draft doing the rounds behind the scenes in Copenhagen, called the Danish Text.
Why did I think about whether this is a conspiracy theory one or not, well, from the article.
"The draft hands effective control of climate change finance to the
World Bank; would abandon the Kyoto protocol – the only legally binding
treaty that the world has on emissions reductions; and would make any
money to help poor countries adapt to climate change dependent on them
taking a range of actions."
In other words the existing UN process would be sidelined, and the money men are going to take it over. Like that has to be the least surprising outcome in a long time. The Banksters have found another way to screw the world, carbon trading and carbon trading derivatives.
"Banks intend to become the intermediaries in this fledgling
market. Although U.S. carbon legislation may not pass for a year
or more, Wall Street has already spent hundreds of millions of
dollars hiring lobbyists and making deals with companies that
can supply them with “carbon offsets” to sell to clients."
According to Blythe Masters, at JPMC, the person who invented the Credit Default Swap, one of the things that we the taxpayer are now paying trillions for:
"Masters says banks must be allowed to lead the way if a
mandatory carbon-trading system is going to help save the planet
at the lowest possible cost. And derivatives related to carbon
must be part of the mix, she says. Derivatives are securities
whose value is derived from the value of an underlying commodity
-- in this case, CO2 and other greenhouse gases.
“This requires a massive redirection of capital,” Masters
says. “You can’t have a successful climate policy without the
heavy, heavy involvement of financial institutions.”
Now, I have some genuine issues around the neutrality of the climate debate because of this kind of sudden involvement of the powerful vested interests of the banks and various other people who stand to gain. To be clear, I think that the world is overpopulated, overpolluted, and we will have serious resource problems in the very near future. This is why getting the allocation of resources, and the approach right is so utterly critical, because we're not going to get to go around again on this one.
Still let's leave it to the Banksters to fix it in our best interests. What could possible go wrong with that situation?