Mili Note: As you read this, note that the focus is not on repairing the climate or the environment, it’s on how the carbon trading schemes already running will fail because they will lose their reason to exist. The current market in most CO2 trading scams has dropped significantly in the past six months or so. This bothers the banksters and their pals like Al Gore who are hoping to make a new derivatives market based entirely on a fictional commodity. Note also that his is an excerpt, not the full article.
The head of the Asian Development Bank said on Sunday that rich countries’ offers of funds to developing countries for measures to mitigate or adapt to climate change remain insufficient a week into U.N. talks.
ADB President Haruhiko Kuroda also told Reuters in an interview that if governments were to fail to reach a climate deal in Copenhagen, it could lead to a collapse of the carbon market which would hit efforts to deal with climate change.
Rich and poor nations differ over how much the developed world should pay to help developing economies combat or cope with climate change.
“Whatever is agreed in this process, financing is really key — financing for mitigation as well as adaptation efforts to be done particularly by developing countries,” Kuroda said during a one-day break in 190-nation negotiations in the Danish capital.