• Investing
  • Stock
Round Table Thoughts
  • Economy
  • Editor’s Pick
Home Economy Climate Conferences Fail on Deforestation
Economy

Climate Conferences Fail on Deforestation

by December 21, 2022
by December 21, 2022 0 comment
Share
0
FacebookTwitterPinterestWhatsapp
Protesters in Brussels participate in the Walk for Your Future climate march ahead of COP27.

United Nations climate conferences typically reach their peak just as they close, when they unveil to the world whatever new international agreements have been signed between politicians supposedly committing to saving the planet. But COP27, the latest annual gathering hosted by the UN to discuss environmental policy, concluded last month without so much as a whisper. The achievements of COP27, (held in Sharm el Sheikh, Egypt) seemed to have already disappointed anyone hoping for progress, before the delegates even had a chance to board their private jets for the journey home.

The COP26 summit, held in Glasgow last year, didn’t have much of an impact on global environmental policy either. During concluding remarks, conference president Alok Sharma broke down in tears on stage and apologized to the audience for the conference’s inability to significantly advance its goals to consolidate its world-saving environmental policies. He apologized for the arduous process’s outcome, saying, “May I just say to all delegates, I apologize for the way this process has unfolded, and I am deeply sorry.” 

Maybe the only thing that went off without a hitch (or so it seemed at the time) at COP26 was a radical new deforestation strategy. World leaders promised that deforestation would come to a grinding halt by the year 2030. In addition, they claimed that by the end of the decade, the effects of deforestation will have been reversed. Then-Prime-Minister Boris Johnson remarked, “We have to halt the tragic destruction of our woods.”

What had first seemed like a triumph quickly turned out to be a disaster. The plan’s inability to meet its first milestone in February was the first sign that it was running behind schedule. Massive international conventions are excellent for establishing goals and making the right noises, but when delegates return to their home nations, they find that little has changed. When leaders engage in such virtue-signaling, the world suffers, because effective measures are put on hold in favor of grandiose plans that attract attention but fail to address the details.

It may be simple to set goals at conferences, but actually preventing and reversing deforestation is a formidable challenge. Companies and international leaders appear to have made those same mistakes at COP27 by reinforcing their commitment to the goal of ending deforestation, but failing to establish what that actually involves. Delaying action on deforestation this way raises the likelihood of short-sighted, harmful measures like meat levies and product import restrictions further down the line.

Undeterred by last year’s failures, COP27 seemed to spark interest in additional, poorly conceived programs to combat deforestation, combined with unrealistic goals. Several major participants in the food sector, for example, stated their intention to “eliminate deforestation from their supply chains,” but they have not elaborated on what this statement means in practice.

Beef, soy, and palm oil are among the typical targets of those who want to look like they are confronting deforestation. The European Union’s (EU’s) Due Diligence Proposal from earlier this year, which severely restricted imports of those villainized products to Europe, drove up prices for businesses and consumers and, in some cases, forced manufacturers to switch to alternative ingredients that cause more, not less, deforestation.

Innovation, not regulation, is the key to stopping deforestation. Deforestation from palm oil, for example, has decreased to a four-year low, and 72 percent of corporations have set deforestation pledges. With each passing day, deforestation shrinks further in the palm oil industry. This was accomplished without political intervention and well in advance of COP26 and COP27, but you would never know it from the way regulators talk about it, as if preventing the use of palm oil is the only way to reduce deforestation.

No matter what virtue-signalers claim, we would be shooting ourselves in the foot by trying to mitigate the effects of industry on the environment by reversing technological advancement. To do so actively raises prices during an inflationary crisis, limits access to commodities, and makes millions of people’s lives worse. To save the planet, make people’s lives better, and make the world wealthier, we need market-based approaches to environmental problems.

You Might Also Like
  • IDF raid alleged Hamas compound inside school, find terrorism-themed puzzle, toys among weapons cache
  • Biden admin says it doesn’t know where Wagner group leader Yevgeny Prigozhin is after short-lived mutiny
  • Biden campaign accepts VP debate invitation for summer showdown with Kamala Harris and Trump running mate
  • House Judiciary Committee sues FBI agent for defying subpoena in government, Big Tech collusion probe
Share
0
FacebookTwitterPinterestWhatsapp

previous post
2 reasons to buy UK equities in 2023, according to Schroders
next post
SafePal wallet adds support for The Open Network (TON)

You may also like

Virginia Senate quashes bill allowing murder charges for drug dealers

February 16, 2023

White House mandating face masks, social distancing for unvaccinated ‘College...

June 10, 2023

How the blockbuster Supreme Court presidential immunity ruling impacts the...

July 2, 2024

Israel vows to kill new Hamas political leader who plotted...

August 7, 2024

Lindsey Graham says Turkey becoming ‘The Squad’ of NATO after...

October 29, 2023

Michigan ex-prosecutor pleads guilty in $600K embezzlement scheme

August 2, 2023

McConnell, GOP tell Biden to give up on his Labor...

June 21, 2023

Trump tells Jesse Watters that he was not warned about...

July 21, 2024

New York Sen. Schumer to give major address on rise...

November 29, 2023

‘We are suffering’: Omar challenger rips Walz for pushing same...

August 9, 2024

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Krispy Kreme stock plunges after doughnut chain pauses McDonald’s rollout, pulls outlook

      May 8, 2025
    • Don’t Buy Robinhood Stock… Until You See This Chart Setup

      May 8, 2025
    • UnitedHealthcare sued by shareholders over reaction to CEO’s killing

      May 8, 2025
    • The Unpredictable Stock Market: How to Make Sense of It

      May 8, 2025
    • AMD CEO calls China a ‘large opportunity’ and warns against strict U.S. chip controls

      May 7, 2025

    Popular Posts

    • 1

      Trump-era China sanctions ended by Biden may be...

      June 27, 2024 2,633 views
    • 2

      Walz’s honeymoon with China gets fresh scrutiny as...

      August 9, 2024 2,339 views
    • 3

      Biden appointee played key role in recruiting Chinese...

      June 25, 2024 2,320 views
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful...

      July 10, 2024 2,303 views
    • 5

      Harris VP pick spent years promoting research facility...

      August 29, 2024 2,186 views

    Categories

    • Economy (7,009)
    • Editor's Pick (2,066)
    • Investing (538)
    • Stock (2,530)

    Popular Posts

    • 1

      Trump-era China sanctions ended by Biden may be revived under new House GOP bill

      June 27, 2024
    • 2

      Walz’s honeymoon with China gets fresh scrutiny as Harris camp blasts ‘lying’ critics

      August 9, 2024
    • 3

      Biden appointee played key role in recruiting Chinese businesses to Delaware: ‘Longtime friends’

      June 25, 2024
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful of Chinese spy threats

      July 10, 2024
    • 5

      Harris VP pick spent years promoting research facility that collaborated with ‘Chinese military company’

      August 29, 2024

    Latest News

    • Krispy Kreme stock plunges after doughnut chain pauses McDonald’s rollout,...

      May 8, 2025
    • Don’t Buy Robinhood Stock… Until You See This Chart Setup

      May 8, 2025
    • UnitedHealthcare sued by shareholders over reaction to CEO’s killing

      May 8, 2025

    Categories

    • Economy (7,009)
    • Editor's Pick (2,066)
    • Investing (538)
    • Stock (2,530)

    Disclaimer: RoundTableThoughts.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 RoundTableThoughts.com. All Rights Reserved.

    Round Table Thoughts
    • Investing
    • Stock
    Round Table Thoughts
    • Economy
    • Editor’s Pick

    Read alsox

    Pence calls Los Angeles Dodgers’ decision...

    June 1, 2023

    New York minimum wage hike becomes...

    May 4, 2023

    The Libido for the Superficial

    December 8, 2022
    Sign In

    Keep me signed in until I sign out

    Forgot your password?

    Password Recovery

    A new password will be emailed to you.

    Have received a new password? Login here