The policy will never work. The divide between the developed and non-developed nations in terms of the maturity of the industrial & resource sectors, along with the standard of living, wages, etc are opposing forces. Transferring funds to the non-developed nations will act only as a mass subsidy at the expense of the developed economies.
.
Not just that but there is no restrictions on what they do with the money when they get it. Anyone who thinks that if some under developed nation finds itself with an extra $50 Million that they are going to put it towards a windmill farm or solar energy is naive.
Right.
That's why they need to gradually invest in alternative technologies to remain successful in the long term.
Otherwise, if there is no development in this sector, the economy will collapse once the resource is gone.
How can we ensure that the money is invested correctly once they have it in hand?
India, China and some other developing countries ....
This is the biggest laugh. Truly it is. China will overtake the US as the biggest economy in less than 10 years.
How can they POSSIBLY be a developing country? Their economy dwarfes most so called "developed" nations yet they still get assigned this status.
Yeah we might end up with a guy like Mugabe who sends his military in to kill people and remove them from lands to be designated as a "carbon sink"
Right. You think Mugabe is going to use his cut on windmills? Weapons, Swiss Bank accounts, and indulgence... that is where that money is going.
Right.
That's why they need to gradually invest in alternative technologies to remain successful in the long term.
Otherwise, if there is no development in this sector, the economy will collapse once the resource is gone.
Like the US Govt. did with Solydra? That money is GONE. Spent and gone and they're bankrupt.
Or what my own Massachusetts State Government did with Evergreen Solar? $600K GONE. Of course our Governor said it was the right investment and he has no regrets. Losing $600K is the right investment?