Mayors reach climate deal with World Bank

New York City Mayor Michael Bloomberg, chair of the C40 Summit, delivers a speech during the opening ceremony of the C40 Large Cities Climate Summit being held in Sao Paulo. Leaders of the C40 Mayors Summit on climate change said Wednesday the group had reached a financing agreement with the World Bank to help the world's major cities better adapt to climate change.

Leaders of the C40 Mayors Summit on climate change said Wednesday the group had reached a financing agreement with the World Bank to help the world's major cities better adapt to climate change.

"The partnership with the World Bank creates opportunities for financial support," said New York city Mayor Michael Bloomberg.

"If we don't stop polluting our world right now, and continuing to spill greenhouse gases into the atmosphere, the consequences may be very well irreversible," Bloomberg said...............


Former US President Bill Clinton, whose foundation works with the C40 group, also praised the agreement.

But he said one of the biggest problems with going green was financing.

www.blacklistednews.com...


the geniuses are at it again ! ...

let's borrow more money as we go broke !

it's not just the interest you will pay .... it's the principal money too !!!

and WHO pays ? ... YOU and I DO ! all of it - principal and interest !

and WHO gets YOUR money ? ... the lawyers and consultants and contractors and community organizers ... who will only hire temporary help.

no permanent jobs created !!


and then we see THIS on top of everything else !!

www.blacklistednews.com...

World Bank warns of 'failing' international carbon market

The international market in carbon credits has suffered an almost total collapse, with only $1.5bn (£916m) of credits traded last year - the lowest since the market opened in 2005, according to a report from the World Bank.

A fledgling market in greenhouse gas emissions in the US also declined, and only the European Union's internal market in carbon remained healthy, worth $120bn. However, leaked documents seen by the Guardian appear to show that even the EU's emissions trading system is in danger.

The international market in carbon credits was brought about under the Kyoto protocol, as a way of injecting much-needed investment into low-carbon technology in the developing world. Under the system, known as the clean development mechanism, projects such as windfarms or solar panels in developing countries are awarded carbon credits for every tonne of carbon avoided. These credits are bought by rich countries to count towards their emissions reduction targets.

Who's kidding Who ?

it's like they rob from the poor and give to the crooks and the international con artists !!

where is Robin Hood when we need Him ?

it sucks doesnt it. i wish we common people had a say in what "big time bankers" do. it sucks how we can only sit here and do nothing about it while are world for more generations to come deal with the problem they madee

Originally posted by xuenchen
"The partnership with the World Bank creates opportunities for financial support," said New York city Mayor Michael Bloomberg.

"If we don't stop polluting our world right now, and continuing to spill greenhouse gases into the atmosphere, the consequences may be very well irreversible," Bloomberg said...............

Former US President Bill Clinton, whose foundation works with the C40 group, also praised the agreement.

But he said one of the biggest problems with going green was financing.
www.blacklistednews.com...

Where is AL Gore when you need him?
Hilarious, Bloomberg and Clinton bemoaning lack of funds for climategate?

Are these financial agreements agreed upon for the nation as a whole or city by city? If the World Bank starts having direct influence on cities, then they are influencing States and not just the Federal government, which means that they now have both of the country's metaphorical "grapefruits" on their mantle. Do these international bankers REALLY need more influence on how our leaders make their decisions?

Originally posted by Sacreligion
Are these financial agreements agreed upon for the nation as a whole or city by city? If the World Bank starts having direct influence on cities, then they are influencing States and not just the Federal government, which means that they now have both of the country's metaphorical "grapefruits" on their mantle. Do these international bankers REALLY need more influence on how our leaders make their decisions?

Leaders of the C40 Mayors Summit on climate change said Wednesday the group had reached a financing agreement with the World Bank to help the world's major cities better adapt to climate change.

"The partnership with the World Bank creates opportunities for financial support," said New York city Mayor Michael Bloomberg.

it sounds to me like it IS directed at cities .... !

not only U.S. cities, but cities in other countries too !

this is a big issue now.

great observation !

these kind of "loans" will be "expensive" ... the grapefruits ARE getting ripe !

reply to post by xuenchen


This entire deal is coming close to being unconstitutional. States are not empowered to engage in foreign policy, only the FEdral government has that ability (when it comes to an international treaty).

reply to post by xuenchen


A terrifying thought. Regardless of how the money will be loaned, people still don't seem to realize borrowing money when you are already in debt is a terrible idea(especially in the case of the US). I am still curious if the money is loaned to nations and then spread out as the governments see fit, or if city-by-city they will fall into the interest trap that has been rampant in recent history. I suppose it is human nature to repeat the mistakes of those before you. All empires fall.

I also firmly believe that the workings of this carbon debt system is entirely arbitrary and is the wrong way to go about reworking our technology. If only people would realize that these things are for the good of humanity and the planet as a whole, and therefore no real monetary value can be attached to it.

Originally posted by Xcathdra
reply to post by xuenchen

 

This entire deal is coming close to being unconstitutional. States are not empowered to engage in foreign policy, only the FEdral government has that ability (when it comes to an international treaty).

excellent point !!!

in fact it may be unconstitutional.

for sure here in the U.S. at least.

the issue may be cities signing an agreement that involves foreign entities ?

i wonder if any other local governments have ever borrowed money from the World Bank ?

or any "foreign" bank ?

maybe there would be (or has been) a bond issue ... then the World Bank buys the bonds and collects the interest ?

sounds ill-eagle to me (as in "anti-American")

by the way Xcathdra, how are you?

Originally posted by Sacreligion
reply to post by xuenchen

 

A terrifying thought. Regardless of how the money will be loaned, people still don't seem to realize borrowing money when you are already in debt is a terrible idea(especially in the case of the US). I am still curious if the money is loaned to nations and then spread out as the governments see fit, or if city-by-city they will fall into the interest trap that has been rampant in recent history. I suppose it is human nature to repeat the mistakes of those before you. All empires fall.

I also firmly believe that the workings of this carbon debt system is entirely arbitrary and is the wrong way to go about reworking our technology. If only people would realize that these things are for the good of humanity and the planet as a whole, and therefore no real monetary value can be attached to it.

i agree.

we need more research.

the article is a little vague on details.

and i just discovered this oxymoron:

www.bicusa.org...

World Bank loans exacerbate climate change

Study highlights World Bank’s financing of fossil fuels

10 February 2009

BIC assessment finds that even with important gains in renewable energy and energy efficiency in recent years, the World Bank Group’s overall lending approach to the energy sector does not support developing countries’ transition towards a low-carbon development path.

Study highlights World Bank’s financing of fossil fuels

The World Bank has a difficult task at hand; it must continually work to provide the impoverished with access to energy while at the same time, mindfully investing in technologies that do not further compound the effects of climate change. Heike Mainhardt-Gibbs, a consultant with the Bank Information Center (BIC), examines the World Bank’s approach to energy sector investments in her February 2009 study entitled “World Bank Energy Sector Lending: Encouraging the World’s Addiction to Fossil Fuels.” The assessment finds that even with important gains in renewable energy and energy efficiency in recent years, the World Bank Group’s overall lending approach to the energy sector does not support developing countries’ transition towards a low-carbon development path.

"The World Bank has a difficult task at hand; it must continually work to provide the impoverished with access to energy while at the same time, mindfully investing in technologies that do not further compound the effects of climate change."

another brilliant statement from the peanut gallery !

but lets go ahead and do it anyway ..... right?

it looks like they are engaging in the classic Roman game of playing both ends between the middle !

finance both sides of the same problem ...... and collect double stamps to boot !

looks like we lose again.

now we REALLY need to dig deeper on this one !

Under the system, known as the clean development mechanism, projects such as windfarms or solar panels in developing countries are awarded carbon credits for every tonne of carbon avoided. These credits are bought by rich countries to count towards their emissions reduction targets.

Well when you put it that way.....its sounds mighty F'ed up

I wanna get in the business of selling non-existant things to the rich!

reply to post by xuenchen


Im doing ok.. just taking it day to day. All well on your end?

I know states have been allowed to engage in trade agreements with foreign countries. To me thought that is purely economic and in my opinion a state matter.

When it comes to signing onto a treaty / agreement etc that the US Government has already rejected, I have issues with it.

If states are allowed to go forward with this type of setup, the we have taken the step down the sliiperly slope. If by some chance it would ever go to court and be upheld, it would open the door for states to sign onto foreign bodies like the ICC.

If the states want to abide by a treaty like this, then they are empowered to pass a domestic version of the international treaty. At least in this manner it could be challenged by the people on a much firmer foundation with constitutional backing.

mimic the treaty = ok
sign the treaty = bad joo joo

Foreign governments invest in US businesses that are linked to their own businesses. I dont see anything wrong with that, provided its purely an investment. I would rather see a US state borrow money from the federal government, and repay it in that manner, than borrow money from another country. What if the state defaults on that loan. The foreign country would have legal standing in state court to recoup the loss.

and even more counter-productive measures !

www.marketwatch.com...

HONG KONG (MarketWatch) — Chinese airlines may receive an exemption from European plans to make airlines pay for their pollution under a carbon-trading scheme, as long as they can show they’ve taken their own steps in cutting greenhouse gas emissions, according to a Reuters report Monday.

China’s aviation authority has opposed rules set to come into effect Jan. 1, 2012, that will require all airlines flying to Europe to be included in an emissions trading scheme, which requires carriers to pay for permits for each ton of carbon dioxide above specified limits.

Last week, however, the European Commission reportedly wrote to the China Air Transport Association saying the nation’s airlines could be exempted, as long as they can demonstrate they’ve taken equivalent steps to help reduce environmentally harmful emissions from aviation, Reuters reported, citing a copy of the letter it had obtained

can we trust China for an accurate carbon count - even if they use an abacus ??

i guess that qualifies them for a World Bank loan !!

Mayors !!!
Stay away from banks !!!

let me repeat that for u imbeciles

Stay away from banks !!!!

Bankers are the problem, not the solution.