Thread by @althecat

There is a massive gap between the realities of climate financing and the promises made in 2009. But there is a much bigger gap between the promises and what is acknowledged to be needed.

This thread looks at the realities of #COP26 vs the spin.

https://twitter.com/althecat/status/1455121384716308486

Newly appointed @COP26 President Alok Sharmar's observations about the scale of the challenge - echoed quietly by @JoeBiden and @BorisJohsnson are not new.

@COP26 @JoeBiden In 2009 in Copenhagen 100 Billion USD a year in investment in developing nations mitigation and adaptation was promised. The promise was made again in 2015 after not being fulfilled. In 2020 financing fell short by 20 billion and in 2021 it will do so again.

Yesterday was the administrative opening of COP. This included adoption of the agenda. Three significant matters came up during the discussion.
1. A request for a discussion of Loss and Damage - effectively compensation for damage being caused by the rich nation emissions. 1/3

2. A request for a discussion of the special circumstances of Africa. Of which there are many, a 1.2 billion and fast growing population, high levels of poverty, their being the source of many minerals needed for renewables & 400 years of colonisation.

3. A request from Venezuela for a discussion about the use of illegal coercive sanctions, mostly by the United States.

Of the three items two relate directly to the urgent crisis of climate change, to climate justice and climate equity.

The 3rd relates to illegal sanctions behaviour by the United States.

The only one of the three that was approved was that of Venezeula, which is positive. But.

The damage of climate change to Africa is very real. Biodiversity loss. Fatal flooding and drought. Massive displacement of people.

Last week an African #COP26 delegate told me, "When your dog bites me and you ask med to look for money to treat myself, is that being fair."

At #COP26 African Nations which collectively produce just 4% of emissions and account for a massive proportion of global biodiversity, are still expected to present NDCs saying how they plan to mitigate their emissions.

And somehow they are also expected to "leap frog" carbon intensive development and jump directly to renewables.

At the same time, the US and EU have been actively interfering in Africa's largest renewables development, which they did not fund in Ethiopia - the GERD.

The GERD #Abbay hydroelectric scheme has design capacity of 40,000 GWH, the equivalent of several large nuclear power stations. Leveraged with wind and solar power capacity in Ethiopia's mountains, and in the hot deserts of Afar and Sudan.

Ethiopia's GERD provides an opportunity to make a good start on the leap-frogging effort for a country of 115 million people. And it is being actively obstructed.

Absent assistance to develop, to build education and health infrastructure and institutions Africa's population will continue to grow, and the window for transition will become smaller.

The decisions on the Agenda taken yesterday, run completely contrary to the objectives of the summit. Europe and the United States both became rich regions off the back of the human and resource capital of Africa. And continue to do so.

Narratives of global competition for resources inside Africa between China and the West largely ignore Africa and Africans as if this is not their country - as young people in the DRC earn 1-3 pounds a day mining cobalt as if they were in 19th century UK mining coal.

The 2nd industrial revolution, which will lead (hopefully) to a lower carbon world, requires a massive increase in the exploitation of African resources to be accomplished. But the assumption seems to be that this will happen absent African capital participation.

The Loss and Damage provisions discussion requested by African and other Global South nations could form the basis of capital contributions, accelerating the Africa 2063 plans to establish an African Common Market, with an African Reserve Bank and a common currency.

The special circumstances discussion requested by African Nations would have enabled the airing of the broader discussion around these issues within the #COP26 framework.

Instead here in @COP26 so far - as in the past - the opening contained an emphasis among the host nation speakers, most notably #COP26 President #AlokSharmer @BorisJohnson and HRH Prince Charles on the opportunities and need for private capital to pick lead in this effort.

And the decisions to reject these important areas of consideration appear to sideline them, even while all the rhetoric speaks of a need for immediate massive action to address an existential threat.

The old hands here at @COP26 tell me that this is the same as it has always been here in these deliberations. And most of the talk this evening is about the India and Brazil NDC (Nationally Determined Contributions), and it is certainly positive to have these on the table.

But two long term structural issues about global governance and finance which this #COP26 needs to address if it is to have any hope of real success - are - at this time - not on the table.

There is a glimmer of hope still though. Following completion of the National Statements delivered by country leaders attending the World Leaders Summit there were interventions from the IMF WorldBank on their current activities. Albeit delivered to an empty room. #Cop26

And as they say it ain’t over till it’s over, and there is a massive amount of talk to come over the tables.

We shall see…. Watch this space.

/ends

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