COP28, Climate Change, and the Hypocrisy of World Leaders

Have you heard about the Paris Agreement? It was held in December 2015 in Paris to mitigate climate change and assist developing countries financially. What a Clownshow it was! I have never seen world leaders so serious before this event.

So, what were the main outcomes of the Paris Agreements?

1. To keep the global temperature rise this century well below 2 degrees Celsius above pre-industrial levels.
2. Developed countries have committed $100 billion a year for developing countries to fight against climate change.
3. A voluntary carbon market.

Signed by 195 countries, including influential figures like Barack Obama, Xi Jinping, Narendra Modi, and David Cameron, the event initially appeared to be a significant success, until the US withdrew from the agreement during Trump's presidency. However, Biden's pledge to rejoin the Paris Agreement during his campaign offered hope for a revival of commitments.

So, what happened next? Well, no one knows where that $100 billion statement went. Also, after the election, no one knows what Biden is doing for climate change. Even though the European Union is pressuring India to create policies for the Carbon market, they are not buying Carbon credits from India (They think our calculation approach is casual, and due to high corruption in India, there is a chance of double counting). Many startups that were started in India after the Paris Agreement to trade carbon credits have shut down this year after waiting 7 years for the policies, but Nirmala Sitaraman said they have no plans till next couple of years.

Currently, the COP28 meeting is ongoing. Do you know who is the host? Well, the UAE, one of the big oil-exporting countries. And our beloved Biden, whose whole campaign was around climate change, has not attended the summit. Also, the UAE prince was doing oil deals with the countries who have participated in COP28 on the sidelines of the summit (am not joking guys).

Well that's all for today.