COP28: China and India Reject Climate Loss and Damage Demands

 This is shaping up to be the funniest COP to date.

The leader of COP28 Sultan Al Jaber appears to want to cash in on last year’s $150 billion investment in more capacity.

Now participants can’t make up their minds who gets to loot who, with intractable disputes about whether India and China should be looters or victims.

I doubt China will budge on their refusal to pay up. China is in the middle of a multi-trillion dollar property and banking crisis which has tanked a third of their economy, problems which are rapidly getting worse thanks to the already deeply indebted Chinese government policy of propping up failed enterprises with public money. China has bigger problems than worrying about looking bad at a climate conference.

India is also in the middle of a Chinese style housing bubble, which could easily burst if fear generated by the Chinese collapses affects consumer confidence in India. While India’s finances are currently buoyant, thanks to Prime Minister Modi’s growth oriented policies, the economic winds in India could change very rapidly in the face of a global slowdown.

I can’t help thinking the only winner from COP28 will be the COP 28 President, Sultan Al Jabber, who will likely find lots of buyers for his nation’s rapidly expanding natural gas capacity.

https://wattsupwiththat.com/2023/12/04/cop28-china-and-india-reject-climate-loss-and-damage-demands/