G20 must reallocate resources for climate change from exorbitant military budgets Print
Peace News
Monday, 09 November 2009 00:52
G20 must reallocate resources for climate change from exorbitant military budgets

PEJ News - Joan Russow (PhD) - Global Compliance Research Project - The Chinese media Xinhua reported in the article, G20 urges to push forward climate change financing but fails to reach agreement.:
At the Untied Nations Conference on the Environment and Development (UNCED) , all members states of the United Nations, including the G20 made a commitment, in Chapter 33 of Agenda 21, to reallocate military expenses. The G20 states collectively probably spend over 1.2 trillion on the military budget and on military interventions. The G-20 also has been reluctant to seriously address the issue of the contribution of the military to greenhouse gas production.

The dominant greenhouse gas-producing and emitting states should be compelled to finance this international fund. Funds traditionally distributed not only through the GEF but also through the Bretton Woods institutions, such as the International Monetary Fund and the World Bank, and additional bilateral funds, such as those in the German Fund for International Climate Initiative, should be channelled through this global fund. This fund would be indispensable for preventing climate change, and for achieving the objectives of the UNFCCC.

Additional funds must be derived from reallocation of global military expenses, including budgets and arms production and sales. Part of this fund could be allocated to compensate states damaged in any way by the failure of industrialized states to discharge obligations under the UNFCCC and other legal obligations.

Other budgetary sources for this Fund would be the redirecting of subsidies from socially inequitable and environmentally unsound non-sustainable energy to socially equitable and environmentally safe and sound renewable energy, transportation, agriculture, forestry etc.

In addition, measures to alleviate the impacts of climate change must include the cancellation of the outstanding debt of developing states, and the implementation of the minimal long-standing commitment of 0.7% of GDP being transferred to Overseas Development (ODA). The ODA must serve the needs not of the developed states but of the developing states. Any shortfall in funding should be bolstered by increased ODA by nations that inequitably gain an advantage from historical emissions or reduction scenarios that are not in line with the principle of equity.

All these funding measures could only just begin to compensate for the
Last Updated on Monday, 09 November 2009 00:52