Another warmist fantasy crashes to earth
Leftists, especially those of the warmist persuasion, never should be allowed to run anything. Delusional people are incapable are exercising responsibilities in the real world, only in the theoretical realm, which is the only place where they live and thrive. Case in point: carbon markets. RTCC (Response to Climate Change) dot org (so you know they are a high-minded nonprofit) reports:
Flows of money towards climate adaptation projects are becoming increasingly unpredictable, making it difficult for vulnerable countries to prepare for the hardships caused by global warming.
When the Adaptation Fund was established in 2001, it was envisaged that money generated through the sale of carbon credits (CERs) would provide a steady source of revenue, which would support national projects to help countries prepare for the impacts of climate change.
But the price of these CERs, generated by the UN’s Clean Development Mechanism and which companies can buy to offset their emissions, has since crashed, largely as a result of the oversupply of carbon credits within the EU’s emissions trading scheme, leaving the Adaptation Fund foundering.
Now, say board members, they are largely dependent on donations from developed countries to keep their projects running.
And the money is running out.
“Adaptation projects” are intended to offset the doom theorized by the IPCC reports. RTCC is very concerned about these:
The next installment of the UN’s blockbuster climate science report from the IPCC, due out on March 31, is expected to say dangerous impacts are now inevitable, and that climate change will likely reduce median (crop) yields by 0 to 2% per decade for the rest of this century.
These geniuses pat no attention to the fact that their predictions have already proven worthless, due to the “pause” (aka, absence) of warning for the last 16 years.
The left would be endlessly amusing, but for the fact that they are able to screw-up the real world.