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Last updated on July 13th, 2017 at 12:59 pm
Demands fly at the UN’s carbon church:
China insisted Friday the U.S. and other wealthy nations should bear the burden of curbing global warming, saying the problem was created by their lavish way of life.
Aiming to maintain that lavish way of life, carbon capitalists circle their unwary prey:
Traders are already betting on a new global climate deal to succeed the Kyoto Protocol, as talks in Bali on Friday inched towards a two-year negotiating agenda for an expanded global climate pact.
Financiers are buying rights to emit planet-warming greenhouses gases after present Kyoto commitments expire in 2012, hoping that countries will agree to new, tougher emissions limits—and drive demand for such permits.
“It’s a great bet,” said one trader attending the talks on the tropical Indonesian island. The new, more speculative offsets came at a substantial discount, the trader, who declined to be named, added.
Gaia is displeased:
A 5.9-magnitude earthquake struck off Bali on Friday, where it rocked a conference centre hosting more than 10,000 delegates for a key UN climate change summit.