Skip to comments.UN panel: New taxes needed for a climate fund
Posted on 08/06/2010 9:11:29 AM PDT by goldendays
UN panel: New taxes needed for a climate fund By ARTHUR MAX (AP) 23 hours ago BONN, Germany
Carbon taxes, add-ons to international air fares and a levy on cross-border money movements
are among ways being considered by a panel of the world's leading economists to raise a staggering $100 billion a year to fight climate change.
British economist Nicholas Stern told international climate negotiators Thursday that government regulation and public money also will be needed to create incentives for private investment in industries that emit fewer greenhouse gases.
In short, a new industrial revolution is needed to move the world away from fossil fuels to low carbon growth, he said. "It will be extremely exciting, dynamic and productive," said Stern, one of 18 experts in public finance on an advisory panel appointed by U.N. Secretary-General Ban Ki-moon. A climate summit held in Copenhagen in December was determined to mobilize $100 billion a year by 2020 to help poor countries adapt to climate change and reduce emissions of carbon dioxide trapping the sun's heat.
But the 120 world leaders who met in the Danish capital offered no ideas on how to raise that sum $1 trillion every decade prompting Ban to appoint his high-level advisory group. The Copenhagen summit also resolved to mobilize a three-year emergency fund of $30 billion starting this year.
(Excerpt) Read more at google.com ...
Ban-ki-moobat will exempt illegals and their $ sent home.
Ban-ki-moonbat will exempt illegals and their $ sent home.
All democrats and fake republicans and the U.N. need to find new jobs,The U.N. is like the Obama administration spend spend spend tax tax tax.
government take you and your FAMILY money and give it to the world
I need to institute a scratching my ba**s fund.
to punish the rich nations by seizing and redistributing their wealth by means of taxation
Whoever runs in 2012 and promises to CUT US OFF from the U.N. and I KNOW MEANS IT; WILL GET MY VOTE!
FEED America! HELP THE HOMELESS IN AMERICA! Then donate to world hunger in a way that we know the starving kids will get it.
Shorebank Legacy: Microfinance Under the Microscope
by Central Illinois 9/12 Project
As the Central Illinois 9/12 Project has briefly written about in the past, one form of banking in which Shorebank is engaged is microfinance, especially in foreign countries. As this is not a type of finance that is well known to the general public, we will discuss briefly what microfinancing is, how it is used in conjunction with green initiatives and Sharia law, and how Shorebank is using this type of financing in their banking processes.
The Consultive Group to Assist the Poor (CGAP) defines microfinance as simply the supply of loans, savings, and other basic financial services to the poor. These loans are generally relatively small, but carry with them a high interest rate due to costs incurred by defaulting on loans and the transaction costs that are disproportionate to the size of the loan. (The cost of manpower and other factors needed to make the loan are the same regardless of the size of the loan thus for smaller loans, the percentage of these costs in relation to the amount of the loan is greater.) Specifically, the microfinancing industry enables people to receive loans when they would not otherwise be able to do so, whether due to poverty, lack of a bank account, inability to provide collateral, and/or inability to prove employment. In 2007, there were 873 microfinance institutions worldwide serving more than 133 million loan recipients.
Microfinance was initially, and oftentimes still is, aimed at providing loans and opportunities to those who otherwise may not have the funds to get a business off of the ground, but microfinance is sometimes tied into other things such as green initiatives. Shorebank, a community development bank whose practices the Central Illinois 912 Project has highlighted before, is a partner in an eco entrepreneurship through a project called Yurtcozy. This initiative allows individuals to offset their carbon footprint by buying carbon credits which enable a microfinance loan recipient to receive funding for things such as energy efficient appliances and solar lighting. It may also finance education on clean energy for microfianance recipients and partnerships in green initiatives. Yurtcozy asserts that if the carbon credit purchases were made for all microfinance loan recipients worldwide, then loan recipients could decrease their carbon emissions by 260 million tons, and thirty percent of their income would be unlocked.
One of Shorebanks first forays into microfinance was through the establishment of Grameen Bank in Bangladesh in 1983. Grameen Bank was founded by Mohammed Yumus, a Noble Peace Prize Recipient in 2006 and 2009 recipient of the Congressional Medal of Freedom from President Obama. Yumus description of the features of Grameencredit includes stating that credit is a right, and its built on trust (i.e., social justice in banking.)
Additionally, Yumus asserts:
Grameen believes that the poverty is not created by the poor, it is created by the institutions and policies which surround them. In order to eliminate poverty all we need to do is to make appropriate changes in the institutions and policies, and/or create new ones. Grameen believes that charity is not an answer to poverty. It only helps poverty to continue. It creates dependency and takes away individuals initiative to break through the wall of poverty. Unleashing of energy and creativity in each human being is the answer to poverty.
Additionally, a Yumus biographer in a 1997 Washington Post piece, states that [m]icrocredit not only liberates the poorest of the poor from hunger, it liberates them, and us, from fanatical extremists. These fanatical extremists were Muslims who did not see fit that Muslim women should received microfinance loans. The author later asserts that support of microfinance is necessary in order to stop pariah states exporting terrorism.
Microfinancing, through Shorebank, is also at work through a $80 million program through the United States Agency for International Development (USAID) called Agriculture, Rural Investment and Enterprise Strengthen Program (ARIES). This program was created in 2006, and its initial success was due to the system adapting for Afghans eager to enter the financial system but unwilling to compromise their religious beliefs. The mechanism under which this microfinancing system was instituted dealt with Sharia-compliant (that is, compliant with Islamic law) banking practices. Such practices mean that no interest can be charged for these financial services. The efforts of USAID in conjunction with Shorebank and other entities have provided loans to 44,000 people in Afghanistan while remaining compliant with Sharia principles. You can read the USAID document describing the program by clicking on this link:
ARIES and Microfinance (document uploaded on Scribd)
Microfinancing, in its goal to provide financial services that the poor would not otherwise have, is often piggybacked with social agendas such as green initiatives, social justice, and religious issues. Are the recipients of such loans being taken advantage of in order to advance a green agenda? Is microfinancing a mechanism that allows Sharia law to continue to work its way into the worlds financial system? While assistance to the poor is a noble goal, are some mechanisms used to provide it promoting a social/political/religious agenda
Let the UN get it from the Chinese. They are the only ones with money in the bank, the so-called “developed countries” having spent themselves into bankruptcy by funding worthless money pits such as the UN.
The advisory panel is chaired by the prime ministers of Norway and Ethiopia and the president of Guyana. Its members include French Finance Minister Christine Lagarde, White House economic adviser Lawrence Summers, billionaire financier George Soros and public planners from China, India, Singapore and several international banks.
If you can’t trust George Soros , public planners from China, India, Singapore and several international banks, who can you trust?
ping to malignant parasitism...
They don’t intend to “redistribute” so much as they intend to set up a global tax scheme to fund a UN Military.
the government want to cut Healthcare from the AMERICA people
Social Security ,let start with foreign Aid ,did you know that they did an audit of the dept. of education the only time they have ever been audit and they could not account for 70% of their budget.And they did the IRS too and they could not account for 66% of their budget.I say let’s hire an independent auditor and audit every dept. in our evil government.
My first question is "has this person Stern ever met a payroll or created a job?" If not, just go away you're being annoying.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.