Taken as a whole, the world’s Paris climate commitments are estimated to reduce global warming in this century anywhere from not at all to 0.2°C. All for a minimum mandated cost (to the West) of just one hundred billion dollars a year, more after 2020. If that’s not getting one’s money’s worth, I don’t know what is! If the amount spent yearly never exceeds the established “floor,” that will be roughly 8.5 trillion dollars by the year 2100. If the average spent- in constant dollars- is $150 billion a year, we will have thrown approximately 12.75 trillion dollars into a cosmic black hole. What is the opportunity cost of that decision? How many Habitat for Humanity houses could’ve been built with that amount of money? We could have just given every man, woman and child currently on earth $1,000 cash. Or paid for ten years of golf rounds for Barrack Obama…plus 3 more Hawaiian vacations for his family.
It is abundantly clear that, in the end, the leaders of this so-called Summit wanted to wallow in the adulation that would follow the act of declaring the political accomplishment of a Signed Agreement, regardless of what the Agreement contained.
They wanted their own Neville Chamberlain moment, one in which they could strut around proudly proclaiming, “Greenpeace in our time!”