Kyoto Protocol is dead, long live the climate fund


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It appears the climate meeting in Cancun has ended without much success. Unable to get an renewal of the Kyoto Protocol, which expires in 2012, the diplomats instead agreed to create a $100 billion “Green Climate Fund” that is mostly funded by the First World nations but is mostly distributed by the Third World. See the notes at 10:45 am on this blog and at 12:20 am on this blog. Key quote:

[The fund] will have 25 members of developing countries on its board, compared to only 15 for developed countries. This gives developing countries a much stronger role. The World Bank is a trustee.

The real question is whether the new Congress in the U.S. will appropriate any money at all to this scam.

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