The United Nation’s 27th Climate Change Conference, commonly called COP27, has just ended in Egypt this year with an agreement that will send American tax dollars overseas to aid countries at risk of being negatively impacted by climate change.
The agreement, which was finally agreed upon after the conference went two days over schedule, establishes a loss and damage fund for poor countries and could lead to the Biden Administration putting up billions of dollars in the next few years, per the New York Post.
The deal was a last-ditch attempt to get some results out of COP27 which had at many points been close to collapse as delegates from around the world failed to come to a consensus on climate issues.
Initially, the United States, led by climate envoy John Kerry, resisted the climate fund, however, the U.S. delegation gave in after the European Union signed on to send their citizens’ taxes to poor countries.
Wealthy countries from around the world were convinced by the pleas of leaders whose countries face predicted climate disasters in the coming decades.
“We will not give up.” said Bahaman Prime Minister Philip Davis, adding, “the alternative consigns us to a watery grave.”
“I’m not here to ask any of you to love the people of my country with the same passion as I do,” the prime minister told the assembled COP27 delegates. “I’m asking what is it worth to you to have millions of climate refugees to turn into tens of millions, putting pressure on political and economic systems around the world.”
While island countries across the world advocated for the fund to combat rising sea levels, the agreement is still coming into focus as negotiations for the deal will continue over the next year.
It’s likely that the United States, like every other international organization and agreement, will fork over the bulk of the money for the fund. Meanwhile, countries like China, which is a bigger CO2 emitter than the U.S. and E.U. combined, will not have to pay into the fund due to its classification as a “developing country” by the United Nations, per the New York Post.
The fund will serve as yet another transfer of wealth from rich countries to poor as progressive policymakers in Washington and Brussels attempt to solve the world’s problems by throwing money at countries that lack sufficient internal oversight and often are plagued by corruption.
The Biden Administration, instead of sending our money overseas to foreigners, should focus on solving the problems facing Americans here at home. The United States already pays a considerable amount of funds to international organizations like the United Nations. We shouldn’t send any more until we actually get results.
You Can Follow Sterling on Twitter Here