the Economist — Pay for the Poor Countries’ Climate Bills

I think I should start to write something in English that is more serious as well as I’m interested in. Climate change issues and energy transition, for example, would definitely be a great choice for me to dig in. (Improve my English writing at the same time, which I’m incredibly terrible dealing with)

There are always things happening, especially while we put our vision on the worldwide perspective. The Leader articles of Economist’s Nov.19 weekly edition includes: South-east Asia, World Cup, Collapse of FTX, Financial Markets, Ukraine War, and the Climate Talks.

I finished this article talking about how to help poor countries tackling the climate change issues. The fiscal problems are emphasized by the meeting, COP27, that is held in Egype now.

In 2019, some rich countries promised to offer $100bn annually, starting from 2020, to the poor ones in order to support their resistance against nagative effects related to climate change. Let alone the posibility of receiving the ful-set $100bn, this amount is far too little. The calculated conclusion by UN is that they still need at least $1trn per year to tackle with climate issues by 2030.

So who should pay for the bill? Now the rich countries are trying to figure out a way to bring the private investing into this area. The public investment otherwise serves as the security that reduce the risks.

Overall, this article is talking about the responsibility for rich nations to give hands to the poors since the emissions are mostly atributed to them from past to now although the emissions from the poors are significantly increasing.

I’ve recently read a book about the facts of energy transition, which covers the energy related topics such as steels, NH3, cement, and plastics. The content includes the resources we’re now using, and what would we encounter if we want to eliminate the use of fossil fuels.

The civilization nowadays really have gone through a lot. For example, the miner things arround us mostly required complicated producing process and enormous energy costs. All of these just makes it really hard to reduce the energy use worldwide.

The transition literally needs time, but limited time is also the urge we’re now facing. However, financial, technical, and political problems…..etc, are all the issues that troubling us, and it would be even more harder while facing all these issues simultaneously.