UN climate change fund calls coronavirus an ‘opportunity’ to re-shape the world

The UN-funded financial arm of the Paris Agreement has labelled the killer coronavirus an “opportunity” to raise funds for climate change action and “relaunch economies on low-emission, climate-resilient trajectories”. The extraordinary statements have been published in a document by the Green Climate Fund – an international organisation with a $10.3 billion budget (US). Australia gifted it $200 million (AUD) in 2015 but Prime Minister Scott Morrison axed further contributions after questions were raised about funds being sent to China, the single largest CO2 emitter in the world. “While COVID-19 is causing untold suffering, the international response to this unprecedented health crisis in modern times offers an opportunity to direct finances towards bolstering climate action. GCF will continue to make critical investments in climate-resilient water resource management, health care facilities, agriculture and livelihoods – all of which are essential to subduing and overcoming the pandemic,” the organisation wrote in an official public update. “Similarly, we will step up our efforts to catalyse green investment to relaunch economies on low-emission, climate-resilient trajectories. “The Green Climate Fund is confident that only a united approach – bringing together determined efforts and innovation – will provide lasting solutions to both the COVID-19 pandemic and climate change.” The Green Climate Fund went on to suggest that climate change was a threat comparable to COVID-19 which has killed 165,000 people, infected millions more and ravaged global economies. “The COVID-19 pandemic and the global response required to stem it shows the importance of acting together to solve unparalleled threats to people and our planet,” the GCF said. “The far-reaching impacts of COVID-19 are a stark reminder of the catastrophic implications the world faces if we don’t.” A Sky News special investigation last year revealed the GCF squandered $3.7 million flying staff around the world for climate change conferences. The bureaucrats which run the GFC were paid $65 million in wages – a figure that has been steadily ballooning each year. It can also now be revealed that the fund sent $157.5 million (AUD) to China in December despite the country planning on increasing emissions by several thousand mega tonnes of CO2 by 2030. China escaped having to pay a cent towards the climate change fund by hanging on to its “developing nation” status even though it is a global superpower with the world’s second largest economy. China’s failure to contribute to the fund led to US President Donald Trump withdrawing from the deal, clawing back billions. However, funds Australians contributed still in part went towards financing a major antistructure project in Shandong – one of the biggest polluting cities in the world which has a $1.1 trillion GDP (US). The Green Climate Fund will finance “low carbon transport with supporting investments in new energy vehicles and bus rapid transit green corridors” in the major metropolis.

from World | Daily Telegraph https://ift.tt/2XOZY3J