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Showing posts with label EVA ORNER. Show all posts
Showing posts with label EVA ORNER. Show all posts

Saturday, November 6, 2021

CC News Letter 06 Nov - COP26: Wall Street rolls out climate finance

 

Dear Friend,

Yahoo News, reading the tea leaves, anticipates that it sounds like the private sector will play a major role in climate finance. “Let me give you an example,” Kerry said when asked by Yahoo News who would be providing the funds. “My office worked with the six largest banks in America — Goldman Sachs, Morgan Stanley, Wells Fargo, State Street, Bank of America and JPMorgan — they publicly stood up a number of months ago, it wasn’t much noticed, and they announced that they will, over the next 10 years, they will invest $4.1 trillion.” 

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Countercurrents.org



COP26: Wall Street rolls out climate finance
by M K Bhadrakumar


Yahoo News, reading the tea leaves, anticipates that it sounds like the private sector will play a major role in climate finance. “Let me give you an example,” Kerry said when asked by Yahoo News who would be providing the funds. “My office worked with the six largest banks in America — Goldman Sachs, Morgan Stanley, Wells Fargo, State Street, Bank of America and JPMorgan — they publicly stood up a number of months ago, it wasn’t much noticed, and they announced that they will, over the next 10 years, they will invest $4.1 trillion.” 

The US climate envoy John Kerry is getting down to the real business at the United Nations Framework Convention on Climate Change in Glasgow after President Joe Biden has had his photo-ops, made his idiosyncratic public remarks and flew back home. 

The Xinhua new agency reported that Kerry and the Chinese delegation will “continue their dialogue and exchanges” at Glasgow — that is, with Xie Zhenhua, China’s special envoy for climate change, and Zhao Yingmin, head of the Chinese delegation to COP26 and vice minister of the Ministry of Ecology and Environment.

For Kerry’s negotiating brief at Glasgow in the coming days, China will be the single most important interlocutor. The Chinese President Xi Jinping in his written speech at the Glasgow summit has put forward three proposals: “First, we need to uphold multilateral consensus… Second, we need to focus on concrete actions. Visions will come true only when we act on them.

“Parties need to honour their commitments, set realistic targets and visions, and do their best according to national conditions to deliver their climate action measures. Developed countries should not only do more themselves, but should also provide support to help developing countries do better. Third, we need to accelerate the green transition… and explore a new pathway forward that coordinates development with conservation.” 

It is against such a backdrop that Biden tried to walk and chew the gum at the same time at Glasgow by publicly ridiculing his Chinese counterpart and then leaving the stage to Kerry to do the real business. 

But a forceful commentary by Xinhua reminded Biden that “China and the United States are the world’s top two economies. They are not destined to be rivals as some narrow-minded China hawks in Washington predict… This is even truer when the global community has to face a torrent of pressing planetary challenges, like climate change and terrorism.”

To be sure, climate finance and climate justice will be the key templates that the world community is watching. Kerry hinted Tuesday that major announcements on climate finance are in the offing. “A hundred billion dollars doesn’t do it, folks,” Kerry said to a gaggle of press.

“It’s trillions of dollars that are needed. And the only way that we will get this done is if trillions of dollars are forthcoming… there are tens of trillions of dollars announced that are available to be invested in this transition,” he said.  

But developing countries have been hearing similar pledges for 13 years now and need them to become a reality quickly. The rich countries’ reaction to the Covid pandemic shows that when they feel the need to act, they can act rapidly. But the massive amount of inequity in the vaccine distribution also mirrors the dynamic that surrounds the climate crisis. 

What was on display on the part of political leaders at the Glasgow summit can only be described as dishonest recalcitrance, as an activist told the BBC. Inequities are at the heart of the climate crisis.

While raising high expectations, Kerry was actually referring to a pledge that developed countries had made in 2009 to mobilise $100 billion by the year 2020 to help the developing countries to reduce emissions and adapt to the impact of climate change. In Paris six years ago, they actually pledged to increase this to 2025 — that is $100 billion each year from 2020 to 2022. 

The reporting on climate financing is opaque. So, some eye-rolling is warranted and it is too soon to celebrate. Especially, as it’s unclear who will provide the “tens of trillions” of dollars Kerry promised. 

Yahoo News, reading the tea leaves, anticipates that it sounds like the private sector will play a major role in climate finance. “Let me give you an example,” Kerry said when asked by Yahoo News who would be providing the funds. “My office worked with the six largest banks in America — Goldman Sachs, Morgan Stanley, Wells Fargo, State Street, Bank of America and JPMorgan — they publicly stood up a number of months ago, it wasn’t much noticed, and they announced that they will, over the next 10 years, they will invest $4.1 trillion.”  

So, that’s it. The big buck will be coming as loans and investments (as against grants.) Wall Street is moving in.  

Significantly, Xi Jinping had emphasised in his written speech that China “will foster a green, low-carbon and circular economic system at a faster pace, press ahead with industrial structure adjustment… We will speed up the transition to green and low-carbon energy, vigorously develop renewable energy, and plan and build large wind and photovoltaic power stations…

‘Specific implementation plans for key areas such as energy, industry, construction and transport, and for key sectors such as coal, electricity, iron and steel, and cement will be rolled out, coupled with supporting measures in terms of science and technology, carbon sink, finance and taxation, and financial incentives. Taken together, these measures will form a “1+N” policy framework for delivering carbon peak and carbon neutrality, with a clearly-defined timetable, roadmap and blueprint.” read more 

Clearly, China’s “dual carbon” goals are expected to unleash vast market opportunities for US companies to hitchhike on what will be the biggest “green revolution” in the coming decades. 

As the 4th China International Import Expo (CIIE) began in Shanghai on Thursday, Chinese media reported that “low carbon became a buzzword” at the event. Chinese organisers set up a special area called “low-carbon energy and environmental protection technology exhibition zone,” and about 50 global companies are exhibiting carbon-related products and technologies that can help Chinese companies shift to clean energy. 

In a keynote address at the opening ceremony of the CIIE titled Let the Breeze of Openness Bring Warmth to the World, Xi Jinping stressed that “opening up is the hallmark of contemporary China.” He said, “China will firmly promote high-standard opening up… China will deeply engage in international cooperation on green and low-carbon development and the digital economy, and work actively for joining the Comprehensive and Progressive Agreement for Trans-Pacific Partnership and the Digital Economy Partnership Agreement.” read more

Xinhua reported that around 200 American companies are attending the CIIE, which is the world’s first dedicated import exhibition. The exhibition area taken by the US companies has been one of the largest.

For sure, while Kerry talks of climate finance in Glasgow, China walks the talk in Shanghai. On Thursday, China’s Sinopec announced the signing of two mega contracts with US companies to buy 4 million tons of liquefied natural gas (LNG) annually for 20 years, the largest long-term LNG deal ever signed between the two countries.

Apart from its relevance to China’s energy transition, the massive LNG deal marks advancement of phase one of China-US trade deal (committing Beijing to increase energy imports from the US by $52.4 billion), which in turn opens the pathway to resolve other pending trade issues, especially removal of tariffs on Chinese products as reciprocal move by Washington.

Quite obviously, the deck is being cleared for a productive meeting between Xi Jinping and Biden that is expected to take place within this year, with cooperation in climate change providing its most profound breakthrough.

Ambassador M K Bhadrakumar served the Indian Foreign Service for more than 29 years. He introduces about himself thus:  “Roughly half of the 3 decades of my diplomatic career was devoted to assignments on the territories of the former Soviet Union and to Pakistan, Iran and Afghanistan. Other overseas postings included South Korea, Sri Lanka, Germany, and Turkey. I write mainly on Indian foreign policy and the affairs of the Middle East, Eurasia, Central Asia, South Asia and the Asia-Pacific…”

His mail ID : indianpunchline@gmail.com

Originally posted in, Indianpunchline





A World Without Money
by Robert Koehler


Climate change and environmental destruction will prevail as long as money prevails as the god that national leaders (and almost all
the rest of us) worship, or don’t know how not to worship. Part of indigenous wisdom is not being under the control of this civilized force. What would a world without money — or a world that saw and understood money differently — look like?



Hypersonic Panic and Competitive Terror
by Dr Binoy Kampmark


For all of this claimed prowess, nothing quite creased the brows of Pentagon officials quite as China’s July 27 hypersonic missile test.  General Mark  Milley, chairman of the Joint of Chief of Staff, said in a Bloomberg interview this October that it was “a very significant event” and was “very concerning”.  The test was first reported by the Financial Times on October 16, which also noted, without additional detail, a second hypersonic systems test on August 13.



Gifts are Parables!
by Cedric Prakash


The four gifts which Pope
Francis gave PM Modi are extremely significant: they are parables!



Assam: Discourse of Disinheritance
by Hiren Gohain


For the last five years or so heated discussion on violence committed on minorities in Assam has risen to such a fever-pitch that any plea for a reasonable assessment of the Assamese concerns has been virtually ruled out of court.The Assamese,or a section of them,have been grave violators of human rights.But that by itself should not justify ruling out any sober hearing of what the subjects of condemnation have to say in self-defence.



BURNING : Eva Orner’s Distress Call to Action
by Suresh Nellikode


Eva Orner, the Academy Award-winning filmmaker for her movie Taxi to the Dark Side comes up with a burning issue this time through her latest documentary, Burning. That’s about the recurring bushfires
happening in Australia which no longer can’t be ignored.

Eva Orner, the Academy Award-winning filmmaker for her movie Taxi to the Dark Side comes up with a burning issue this time through her latest documentary, Burning. That’s about the recurring bushfires happening in Australia which no longer can’t be ignored. The film that had its world premiere at the Toronto International Film Festival -2021 last month will certainly spark a political brainstorming in the top-level bureaucracy of the ruling machinery. She draws the attention of not only Australia but the whole world as wildfires are one of the few things that could engulf any nation at any time. And these points are not to be discarded by the rulers as the consequences are by and large detrimental to all living beings. If not taken proper care of, this phenomenon is going to harm us in a bunch of ways in different parts of the world. This film has been one of the most sought-after fact-finding attractions of the recently concluded Double Exposure Film Festival, Washington DC, USA.

The season of 2019-20 bushfires has brought in the name ‘Black Summer’ in the history of Australia. The season has recorded the highest temperatures and lowest moisture levels and that would bring in far-reaching damages in the future to the areas affected. It has burnt out 59 million acres of land and destroyed 5900 buildings, enveloping almost the whole of Australia in clouds of smoke for many days. The flames reached over 200 feet high creating a different pattern of pyro-convective storms that gave nightmares even to the seasoned firefighters.

This time the Nero was Scott Morrison, the prime minister of Australia, and Rome – Australia. He had no concerns about the happenings around and tried his best to stem the tide of popular indignation. He tried to cover up the calamities and did nothing to prevent it except the usual procedures. The fires took their own heavy toll. Not only Australia and Canada but every part of the world is going vulnerable to climatic changes.


Greg Mullins, the former Fire and Rescue Commissioner of New South Wales says: ‘’The world has changed and we all have to seriously look into the advanced levels of approaches towards natural calamities.’’ He had his first wildfire experience at the age of 12, in 1971. According to him, the rainforests in Queensland are drying up continuously.

Tim Flannery, the Australian scientist has umpteen instances to quote from his memory. He is considered an ardent lover of nature and a permanent opponent to whoever stands in the way of the conservation of forests. The Conservative government headed by Scott Morrison shamelessly stood against his findings quoting those are ‘Flannery’s Global Warming Lies.’

There were widespread strikes and processions all over Australia but fell well short of any breakthrough from the rulers’ side. Prime Minister Scott Morrison said in a public meeting that the nation wants more learnings in schools and less activism. When the rain forests were burning the prime minister was spending his vacation in Hawai in December 2019, reminding the people of the ancient Roman ruler Nero and his apocryphal tale of fiddling.

The documentary displays the terrible scenes of the days that were pitch black even at 10 am. Those were the days of surreal
experiences. There were smokes that spread to 5.5 million km. By seeing the newborn babies, the doctors in some hospitals had asked the mothers whether they’re chain-smokers.

More than 3 billion animals like kangaroos and koalas were killed or displaced during Australia’s bushfires in that season. There are depressing scenes in this movie that show the animals escaping the blaze hurt and burnt.

When the Global Convention on Climate Change (UNFCCC COP 25) took place in Madrid, Spain, in 2019 Australia didn’t have even a pavilion for their country. ”No politicians learned lessons from our bushfire history and Indigenous Australia! We’re prone to have unprecedented disasters in future, and the impact would be beyond all comprehensions”, says Bruce Pascoe, the Australian aboriginal writer and professor.

Being the largest exporter of coal and gas, the Australian government was not at all receptive in providing a patient hearing to the woes
of their citizens. Rather than reconciling the latest findings on global warming, the authorities have been trying to hide their slips in responding to the call of the time. In a way, they were ‘setting the world on fire’. The film shows vignettes of resistance from the student community and other common people.

The film says about the2019 Amazon rainforest wildfire that burned 2.2 million acres of land. In 2020 Californian wildfire has destroyed 4.4 million acres of land. Australia’s Black Summer took away 59 million acres of land.

Prime minister Scott Morrison although appearing in the limelight of television channels he officially declined to be interviewed for this movie. Despite the proofs in front of him and the nationwide protests arisen he could not understand the emotional intensity behind it.

Eva Orner is an Oscar-winning filmmaker who focussed brilliantly on the devastating fires in Australia. The Network (2013), Out of Iraq (2016), Chasing Asylum (2016), Bikram: Yogi, Guru, Predator (2019) are her previous movies. Burning is her latest documentary exhibited in the Toronto International Film Festival (2021) and Double Exposure Film Festival (2021), USA.

It’s time to be climate-anxious! When ordinary citizens stand for the protection and preservation of nature, climate denialism also goes parallel to that. These denialists stand on the conservative grounds of old economic policies supported by vested business interests. A study by the American Psychological Association found that nearly half of young adults between the range of 18 to 35 feel stress over climate changes. Climate anxiety can cause intense anger and fear. It can bring about the worst in people in different ways.

Suresh Nellikode is a film critic







Com.P.Suryanarayana, a leader of democratic rights movement of AP
by ChSN Murthy


Com.P.Suryanarayana, who recently passed away on 2021 September 29, and who was till then  working as the AP State President of -OPDR, was  a great comrade of such kind.  Federation of Independent Trade Unions-FITU pays its rich tributes to com.PSN and places on record its deep condolences at the sudden demise of the respected leader.



Implementation Problems of Rural Employment Law Increase Distress of Rural Poor in India
by Bharat Dogra


A law enacted by the previous UPA Government in India to provide rural employment guarantee proved to be a significant help in reducing the aggravated distress of the
rural poor in pandemic times last year. However while the pandemic related distress had not yet abated, the union government with undue haste reduced the budget for this important program, leading to serious problems.


Tripura UAPA Case – Don’t criminalise Fact-Finding Enquiries
by People's Union For Civil Liberties


The PUCL strongly condemns the Tripura Police for registering a FIR dated 03rd November, 2021 under the UAPA and other draconian provision of the IPC against a team of advocates from Delhi, the “Lawyers for Democracy”, for conducting a Fact Finding Enquiry into communal violence incidents in Tripura in mid-end October, 2021.



Revoke UAPA And Other Criminal Charges Against Tripura Fact-Finding Team Member
by Peoples Union for Democratic Rights


The
invocation of UAPA charges against members of a fact-finding team shortly after they released its findings on the communal violence in Tripura, is shocking and condemnable. Besides S. 13 of UAPA (punishment for ‘unlawful activity’), a slew of IPC offences has also been invoked: 153 A and B of IPC (promoting enmity and anti-national activities), 120 B, 503, 504 (criminal conspiracy, criminal intimidation, breach of peace) as well as charges of forgery and fraudulence for harming reputation (469, 471). The police action of the Agartala PS is apparently with reference to their social media posts.



Going Postal- Attacks on the USPS and the Failings of the Elite Consensus
by Romi Mahajan


Review of “First Class:  The U.S. Postal Service, Democracy, and the Corporate Threat” by Christopher W. Shaw.  Foreword by Ralph Nader.  Open Media Series.  City Lights Books.






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