The Best Came Last – The People’s Solution To Climate Change Finance!
After three non-stop days of Climate Conferences – from The Climate Train which ran from the 7th to the 15th of December 2017 at Gare de l’Est – Platform 30, Paris, France« Le Train du Climat » is a traveling exhibition on climate change issues and solutions. The Climate Train has on board the scientists of the group “The Messengers of the Climate” to meet the public and guide the visitors throughout the exhibition.
Through Climate Finance Day on Dec 11th with a who’s who from Banks, Funds, and Minisries with remarks by Bruno Le Maire, French Minister for the Economy and Finance, Per Bolund, Swedish Minister for Financial Markets and Consumer Affairs, Ma Jun, Special Advisor to the Governor, People’s Bank of China (PBoC) & Chairman, Green Finance Committee of China Society for Finance and Banking,Lionel Zinsou, Chairman, African Investors Network for Climate, and a last minute surprise from Businessman and philanthropist Michael Bloomberg.The United States president’s decision to quit the Paris Agreement appeared to have a galvanizing effect on the climate movement. Mr. Bloomberg said, “I think we owe President Trump a bit of gratitude for helping us meet our climate goals.”
To the Summit where two years to the day after the historic Paris Agreement On 12 December 2017, the President of the French Republic, Emmanuel Macron, the President of the World Bank Group, Jim Yong Kim, and the Secretary-General of the United Nations, António Guterres, brought together banks, sovereign wealth funds, philanthropists and NGOs with dozens of world leaders from 50 countries. Their mission: Find the necessary public and private investments to bridge the gap between current commitments and what is needed to stay below a 2-degrees temperature rise and avoid catastrophic climate change.
Actors Sean Penn and Marion Cotillard sat alongside billionaire philanthropists Sir Richard Branson and Bill Gates. Arnold Schwarzenegger andScandinavian prime ministers milled about while Macron spoke of the need to unite as many public and private sector players as possible, “because it’s not one person in one country who changes things.”He might have been talking about himself, or Donald Trump.
Throughout the many speeches, panels, interviews and hallway conversations the focus was finance,and thetheme was acceleration, because while there was lots of progress in France, and Scandinavia, less in Iraq, Mali, and Mexico, or the United Kingdom and SpainAfrica, China and Japan. Outside of Mexico and Brazil there was not much from the Americas (North or South) except The Charter of the Caribbean Climate-Smart Coalition which was signed by the following: Anguilla, Antigua & Barbuda, British Virgin Islands, Dominica, Grenada, Jamaica, Montserrat, St Kitts & Nevis, St Lucia, Turks and Caicos Islands, and interestingly, the US Virgin Islands.Notably quiet were Russia India, and the rest of the Pac Rim including Australia and New Zealand.
It was clear that there are many significant challenges ahead. As of yet there’s no solution to broaden international cooperation on monetary policy, or to reduce the substantial project arriers like exchange rates and tariffs that inhibit renewable energy projects, there much consternation over Green definitions or even an agreed CO2 price.
The last event I attended was Wednesdayevening at 7pm. T was rainy, cold, I was exhausted and almost didn’t go. But I was intrigued personally as well as professionally since alt-currencies as part of the Project Finance Stack had not been talked about. Not even as part of the need for private/public partnerships had the emerging power of blockchain or crypto-currencies been so much as whispered about into a microphone.
The event wasn’t at any of the usual conference facilities but a posh upscale hotel, Salon Hoche, not far from the Arc D’Triumph. Champaign and horsd’oeurveswere plentiful as the speakers and panelists mingled with the attendees gathering their questions and hopes for the evening.
The three main panelists alternated from English to French and back to English again in stride catering to the mixed and mostly bilingual audience. They represented three companies all using a new Co2Bit coin to enable Redd+ and renewable energy projects. After a brief tutorial on Distributed Digital Ledgers and the numerous efforts by Central banks developing their own Ronald J. Wilkins, Chairman of Co2Enegry.org described the Co2Bitcoin’s role in helping complete the finance stack for projects similar to helping with the down payment on a real estate loan. He then went on to point out the deficiencies of the financial systems we’ve been building since the 1970s. These were never architected for valuing global stewardship. They included:
Quantifying and Rewarding Environmentally Sustainable Behavior– saving the planet activities – motivating more responsible choices.
Helping People Up Front vs. Later –Participation in Global Economy – advancing their standard of living – with natural progression as they can afford, but with the acceleration that access to Sustainable Energy provides.
Valuing the Protection of One’s Privacy – Not every transaction in our lives needs to be scrutinized, categorized or judged much less used by marketers wanting to manipulate us.
BocarYatassaye Director of Operations for Gloxde spoke about numerous projects in Africa and the role of the coin in jump-starting many financially stalled projects.
Michael Lamb, co-founder of New Power Partners reiterated the same explaining how the coin filled a critical gap in the financing stack for his solar projects globally whether they were electrifying small villages in India or Corporate Micro-Grids in the U.S. where many citizens may not share the same sentiments as their President.
Their collective point was that people vote with their spending. If we all bought more art, there would be more artists, more luxury electric cars and there would be more luxury electric car makers. But that we are more likely to buy our own necessities and fulfil our own desires before we buy solar panels for a small remote village allowing them to participate in the global economy. Their point was that buy purchasing that car for your child using the Co2Bitcoin, you may be helping ensure he has a dry road to drive it on in the future.