The countries on the receiving end - and of course the UN climate change bureaucracy - are now pressing full steam ahead in order to organize the massive money transfer, which could be a real bonanza for many of the world´s less than democratic governments and dictators.
The UNFCCC has proudly announced the names of the 40 people, who will start planning the bureaucracy needed for the money transfers:
Parties to the United Nations Framework Convention on Climate Change (UNFCCC) have agreed the selection of the forty members who will be entrusted with the task of designing the Green Climate Fund, the new institution which will manage long-term finance mobilized to enable developing countries to address climate change.
The by far greatest future payer, the US, has chosen Assistant Secretary for International Markets and Development, Marisa Lago as its representative in the Green Fund planning group. She will have the pleasant duty to locate the billions annually to be paid from the Treasury´s empty coffers.
The good news:
It is almost certain that the developing countries are in for a great disappointment. It is higly unlikely that they will receive the annual 100 billions from 2020 on; even the UN press release talks about the "goal" of 100 billion per year. As we all know, a "goal" is not a firm commitment. But even 10 billions would be a waste of taxpayers´ money!