COP27, now what?

The COP27 is now over and aside from an agreement to establish a fund at the expense of taxpayers from developed countries, no sizable progress has been made to reduce global warming from what was agreed in Paris, but isn’t going to be met anyway and is likely to balloon to 3 degrees centigrade or more by 2040. 

So that meeting was about settling some dollars-and-cents accounting without addressing the elephant in the room that was global warming? A supreme waste of time, it seems. 

In my view, payments for loss and damage should be borne by Big Oil that new about the problem before the 1980s and hidden its consequences at the time, not by us, the taxpayers. Big industries, airlines, that relied on cheap fossil fuel to prosper should also be held accountable as they profited from that lie. 

That says, I can’t see any eagerness on the part of developed nation to put much into that fund, unless they levy a carbon tax and run their economies aground. The main objective they achieved was to participate in a high-profile, pleasant get-together after a comfortable flight, with fun activities for the spouses, great hotel accommodations and delicious meals.

Just like the proverbial frogs inside a boiling pot of water, we’ll feel the burn when we get there and when it will be too late, and in my view, much sooner than 2040!