During his final days in office, President Obama transferred hundreds of millions of dollars to the UN’s “Green Climate Fund.”
Other nations haven’t been quite so generous – and it doesn’t seem likely President Trump will hand the UN more, if any, money in the future.
Industrialized nations have been busy shuffling around their existing foreign aid dollars and reassigning them to fulfill their UN climate pledges.
Developing nations don’t like this gimmickry one bit. They want “new money.” That’s why they signed up for the UN’s Paris climate agreement in the first place.
Economic powerhouses like China and India, which lead the world in CO2 emissions, are exempt from chipping in – yet want the U.S. to pay up. This is particularly ironic as China held $1.12 TRILLION dollars of U.S. debt at the end of October.
All this underscores just how bad a deal…