The late Prince Phillip’s profound statement “take care of this planet. It’s the only one we have” was ahead of the times and, like most of such, went largely unheeded.
Unbridled technology, bereft of environmental considerations, squeezed everything out of Earth till nature began retaliating. The arduous, protracted global negotiations began with major participants stuffing under conference tables all the distractions possible. The conjuring of geo-politics, big-business interests armed with half science and a concoction of corruption led to political greed was always going to be subversive. It was always about money and protecting what powerful nations had.
The three major takeaways from COP28 have ensured that the big and mighty have their cake and eat it too so as to burp in satisfaction at the next expensive meeting. The last edition of the motley gathering almost came unstuck till the wording on stopping coal exploitation was toned down to “phasing out” without a defined end date. Why not, indeed.
China and India, with a cumulative population of 3.5 billion, have built, and continue to develop, their industries around the offensive fossil fuel. It also serves their interest in being the benefactor, assisting less capable countries assume greater power generation abilities. Sri Lanka chose to scrap one such project; Bangladesh thought it more prudent to allow the Rampal mega-project proceed even in the face of as best a voice that environmentalists could muster up. The muted voice of a section of OPEC wasn’t enough to stir the biggies. At the time they were buoyed on the clouds of economies unfastened from fossil fuel.
The Europeans counted their chickens and chose multiple egg-baskets by doing a U-turn on rolling back nuclear options and securing forward-orders on petroleum following the sabotage of the Nord pipeline. India went one step further on their plans for coal to neatly manoeuvring lower-cost oil from beleaguered Russia as well as forward purchase from OPEC as did China in cementing advance purchases from Saudi Arabia. In so doing they furthered economic stability for OPEC in guaranteed revenue.
No surprises therefore that the “phasing out” term enters the agreement for fossil fuel usage. Above all, America’s intent to pursue what Donald Trump started-releasing strategic reserves of Shoal Oil sent OPEC into a tizzy.
The $100 billion assistance fund for vulnerable states’ mitigation plans has had a new element added with $718 odd million pledges. Expectant nations went home clutching to straws while Pacific Island nations were public in rueing the fossil fuel issue. And as the Greens had anticipated the economies of fuel turns out to be the proverbial wrench in the works.
If the citizens of the world matter anymore, politicians will have to look internally for solutions. Limiting climate heating and that marvellous “carbon trading” scheme were glossed over, thereby missing the main objectives. Global conflicts that fuel the egos of few have taken precious time out of the equation. The end result is bringing forward the inevitable extinction of nations.
Economically speaking, smaller nations will find survival difficult. Mergers and acquisitions in the business world have shown politicians the way ahead. Optimizing economies of scale is another damnation for the human race. The surrender has been an abject one.
Mahmudur Rahman is a writer, columnist, broadcaster, and communications specialist.