James Cleverly Needs $4 Trillion a Year For His Sustainable Development Goals!
By Paul Homewood
h/t Dennis Ambler
British Foreign Secretary James Cleverly announced this week that the UK will push to unlock global finance and help developing countries invest to achieve the Sustainable Development Goals (SDGs).
According to Cleverly, the spotlight will be on improving the global financial system, including making it easier for developing countries to access funds and invest in their own sustainable development. Cleverly also insisted on the UK’s support for climate preparedness and improved access to education worldwide.
Climate change, the threat of pandemics, and stagnant economic growth are some of the biggest challenges facing the world’s most vulnerable and require a united global effort to tackle.
Unlocking more finance from international financial institutions and the private sector will be critical if we are to achieve those goals and the UK is already playing a key role by mobilizing private investment, improving global tax systems, and future-proofing for climate change – including through the UK’s recent US$ 2 billion commitment to the Green Climate Fund.
The UK is announcing pledges and reforms that will unlock billions of pounds in global finance and support developing countries investing in their future to boost sustainable development goals.
As representatives of global governments gather for the Sustainable Development Goals Summit, the Foreign Secretary further underlined new financial guarantees for Multilateral Development Banks to help the UK’s overseas aid go further and multiply its impact by unlocking more affordable loans.
Through one of these guarantees, the UK will help unlock up to US$ 1.8 billion of climate finance to support at-risk populations across Asia and the Pacific in adapting to the impacts of climate change and increase their resilience to natural disasters. It will help accelerate their transition from fossil fuels to low-carbon energy sources, demonstrating how sustainable economic growth and development can go hand-in-hand.
“The extra finance needed to achieve the Sustainable Development Goals is estimated to be around US$ 4 trillion annually. We urgently need bold global action to build a bigger, better, and fairer international financial system that helps close this gap,” Cleverly said.
The UK is providing a guarantee of up to $300 million to the Innovative Finance Facility for Climate in Asia and the Pacific (IFCAP). We estimate this will unlock $1.2 to $1.8 billion in additional climate financing over the next 5 years, meaning around a 4 to 6-time return of increased climate finance compared to our guarantee commitment. The Innovative Finance Facility for Climate in Asia and the Pacific (IFCAP) is a multi-donor financing partnership facility set up by the Asian Development Bank (ADB) with the goal of scaling-up finance for accelerated action against climate change in Asia and the Pacific.
https://en.mercopress.com/2023/09/22/uk-favors-additional-financing-to-achieve-sdgs
James Cleverly seems to have forgotten that money does not grow on trees!
Any money spent on Sustainability Development Goals, whether public or private, is money that cannot be invested in other, probably more worthwhile projects.
And heaven knows how many of these billions will be wasted or misappropriated.
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NOT A LOT OF PEOPLE KNOW THAT 
SDG ….ESG…more meaningless Diktat word salad from these worthless examples of useless eaters….He has seen the light of Woke Power and is drawn inexorably to it as a fly to a flame; let us hope for a similar outcome.
This stuff is just part of the West’s attempt to maintain hegemony over the world’s financial institutions. The threat from China and the ‘BRICS bank’ is growing. They need to do something. To hell with the costs on their own citizens.
China’s intention to become the world leader in nuclear plants has huge implications for powering Africa – assuming they can stop the people stealing the cables.
I’ve got one word for Cleverly: Bastiat!! (Not a spelling mistake – but then again…)
We are being cleverly done over…
‘The UK is announcing pledges and reforms that will unlock billions of pounds in global finance and support developing countries investing in their future to boost sustainable development goals.’
Not just colonialism, it’s evil colonialism, telling indigenous people what they should be doing.
‘Financing’ is the newspeak word for ‘spending.’
And the Newspeak phrase for ‘Investment’ is ‘Spending taxpayers money on ridiculous pie in the sky vanity projects without a concern for costs and benefits’
Yes indeed – and Gordon Brown it was, the Prime Moron who introduces this means of covering up the endless pissing away of taxpayers;’ money. He called it “investing”.
He no doubt saw selling vast amounts of the UK’s gold stock at the bottom of the market an investment too? How did Bliar ever consider Brown as in any way competent to be Chancellor of the Exchequer?
I have read an analysis that Brown was in a straitjacket ( not a little of his own making) and he did this to avert a disaster in the banking sector; that worked well did it not? He refused to properly regulate banks who combined the retail and “investment” activities (simply put I acknowledge) and we all know what happened – a line can be drawn from the Lloyds Syndicate>Split Capital ITs>Barings> Banking sector troubles>Lehmann Bros……”What we have here is a failure to regulate” ( Ackgmts to Strother Martin )
Yup. Indeed, I think Lehmann’s (and others?) opened offices in the City as our financial oversight (mwahahahah) allowed some sorts of derivative trading that the SEC would not.
And the rest is history. Brown had a huge hand in the crash of 2008. And then bailing out the banks his next huge mistake. Indeed, one might say, Gordon Brown himself was a huge mistake.
Not in his Mummy’s eyes!
It was the deal. Brown wrecked the Treasury, then took over from Blair as Prime Moron, to wreck the country. Both targets achieved, con brio.
Interesting that we didn’t get this amount of detail in our own Media, just the announcement of the $2billion for the Green Climate Fund.
Our legacy media has more important things to cover like Russell Brand and the establishment’s turning on their former darling now he says things they don’t like.
May I suggest that you read Friday DT, page 9. Liz Kershaw delivers a Cruise Missile straight at the heart of the BBC’s management. Mr Davie’s faux shock at listening to Brand’s past output is as shocking in its naivety. Ms Kershaw may have a (legitimate) axe to grind but she does it as an icy revenge dessert. I dont think any subscriber here will be surprised per se but it is another example of the Ultra Far Left Woke blob hurtling towards self destruction ( hopefully) Apologies if OT.
What is clear is that the BBC learnt NOTHING from the Saville debacle.
Agreed; but then they don’t need to until the Licence fee defenders hit critical mass – how is Plod gong to deal with millions of LF defenders as well as attend their Equality and Diversity brainwashing episodes??
I just love the way the Guardian are now saying how evil Brand is. when only a short while ago he was their darling.
https://www.theguardian.com/profile/russellbrand
Dont you just love it when an organ of the Press has their bullshit catapulted back at them with unerring accuracy….kudos to you RS.
The Guardian, like the BBC, is beyond repair.
I say that with sadness, as my parents took the Manchester Guardian as our daily paper. Indeed, my of my early learning of words (am a logophile) was from the back pages of the Guardian, then a broadsheet, which my father read at breakfast. It was then a fine, old school Liberal journal with some excellent journalists. Now I trust the Daily Mail more…
But spending other people’s money on virtue signalling is just so much fun.
If anything, you might emphasise how absurd announcements of this kind are. If the $4 trillion a year was serious, then offering $300 million over 5 years (the implication of the announcement) is a metaphorical raindrop in a lake [15 parts in a million].
What this tells us is that (a) the UK government is reduced to announcing endless inconsequential gestures because it is unable or unwilling to focus on doing a small number of things well, and (b) the journalists who rely on the press releases are so ignorant or craven that they do not realise and/or won’t highlight the triviality of what they are reporting.
The original Millennium Development Goals were arguably sensible and at least partly achievable. However, every lobby group and politician got in on the act when these were converted to the Sustainable Development Goals. As a consequence these are nothing more than a wish list of hot air. The process completely sabotaged the idea of a focused set of indicators that might actually do some good. So almost everything concerning the SDGs is simply vacuous rhetoric.
Announcements of this kind illustrate how deeply unserious both Western Governments and international financial institutions have become. Everything is reduced to trivial announcements with minimal practical impact but dressed up to be fed to dumb journalists and then ignored by the rest of the world.
Agreed; western governments are interfering and manipulating in a manner unprecedented since the Industrial Revolution to dictate how private enterprise MUST operate. None of these politicians seems to have learned on jot about the historic, endemic failings of ultra managed economies so beloved of the Ultra Far Left dictators in many countries – ask yourself , how many of these basket case economies became and remain the benchmark for other countries to follow.
A “light hand on the tiller” is now fast becoming a chain around the rudder….cannot see it ending well.
When you’re talking billions and trillions 10% for ang of the ‘big men’ is a drop in the ocean. There are some very nasty people getting exceedingly rich from our taxes. And I don’t like it. In fact, I’m beginning to feel like Peter Finch in Network: ‘I’m not gonna take this anymore!!’.
In that you are by no means alone. In fact, whilst neither my wife or I got Covid, wed both, over that period, contracted severe Tourettes, which have been unable to shake off. No jab for that yet…
Cleverly is only following up on Sunak’s absurd COP26 statement that the Net Zero agenda is all about “re-wiring the entire global financial system”. These globalists are severely deluded. What on earth do they think they are going to spend all these trillions on? Look at how the windmill industry has suddenly gone into meltdown.
Exactly in IMHO; the knee-jerk reaction by some to acclaim this as some kind of retreat is, again IMHO, a million miles away from reality. Sunak is a politician and , ergo, cannot be trusted as he lies every time he opens his mouth; most importantly he is a fully paid up stormtrooper for Schwab/Soros/Bliarite globalist interventionist B’stards who aim to control all aspects of human existence as revealed almost on a daily basis. The first shot for this disaster in the making is the attempt to coerce Trustees of Pension Funds to divert a proportion of the assets they hold in a fiduciary capacity for “special start ups”. If anyone believes this is NOT a form of money laundering – disguising, layering, then legitimising – where what is being laundered in the first place is the “Eco/Green” delusional new so called technology in pursuit of Nut Zero. It will make ESG seem trivial by comparison, again IMHO.
This is part of king Charles III’s globalisation initiative involving £trillions of spending on his ‘Sustainable Markets Initiative’ and ‘Terra Carta’ introduced at Davos in 2020. Western taxpayers are expected to pay through both higher taxes and prices.
“And heaven knows how many of these billions will be wasted or misappropriated.”
ALL !!
Yep. It will all be waste and thievery as the pigs snuffle at the subsidies trough.
We know it will all be wasted because we know – with 100% certainty – that politicians do not and cannot know what we want. That was shown incontrovertibly by Nobel prize winners including Hayek. Government picking investments is ALWAYS sub-optimal because there is literally no way it cannot be so.
Regardless of where the money goes, “The Climate”™ won’t care.
Except wind and solar facilities require lots and lots of land, also
known as habitat. As do the mining and transmission corridors.
Gaia will not be pleased.
Aw, give him$8 trillion. We know he’ll blow through the $4 trillion on hot air. Maybe another $4 trillion will wake us up – all 8 billion of us!
Holy cow, that’s a billion each then! I’ll have to check but I don’t think i have that the bank. Soon enough and we’ll be talking serious money!
LOL
James Cleverly Needs $4 Trillion a Year
Pension funds raid ahead? With that kind of sum we could finish the HS2 rail project 😆
Blair was proposing such a raid over the summer. As if he hasn’t done enough damage to the country already.
Repeat after me: government spending on what governments want is not growth.
Note that ‘Climate Action’ is only #13 on the UN’s list of SDGs (Sustainable Development Goals’) :
https://www.un.org/sustainabledevelopment/sustainable-development-goals/
You would have thought that since the Earth is “boiling” according to the UN Sec Gen (and the oceans according to Al Gore) it would have been higher up the list?
It’s well known money “printing” (i.e. adding 0’s to the end of the number in a computer) on it’s own is inflationary as its works it’s way across the economic system shoving up the prices. Combine printing with loss of confidence in the political system from the population we get hyper-inflation. There are already hard limits of materials needed for electric utopia, when combined with a lack of investment in existing energy infrastructure and deliberate penalisation of the population for our continued use of hydrocarbons. Combined with the Russia/Ukraine war and the other parties it has pulled in with funding directed towards that ends (destruction of life and property), the outcome can only be a shortage in a few years time when physical reserves have been run down compounding the shortages.
Shortage of materials + mis-allocation of resources from productive economy + government debt expansion, can only mean the wall of debt has to collapse, once the errors are discovered, when the existing reserves are used up, new materials can’t be produced because the investments that should be made today have not happened. This feeds into a sovereign debt crisis (Germany and Britain and many others in short order).
One way of another mis-allocation of capital will be resolved.
Not knowledgeable enough to say other than I see where you are going. I have become increasingly spookable by the amount of debt that is being created – Govt/Corp/Personal – and if £30K is ~ average unsecured amongst UK population, there are a lot of UK people facing both barrels. Debt is a house of cards and is supportable only until …something happens. I think the Euro is extremely exposed because it is not cross border fiscally supportable until the Germans say so; that may never happen despite their lunatic green/eco contraction and Energiewende disaster …something will give, and it appears more likely to be sooner rather than later.
This is Paul’s entry for the “Oxymoron of the month” contest, right?
There nothing remotely Clever about Master James’ preposterous plan. Neither is there anything “Sustainable” about his “Development” aspirations.
What a twerp.
Charity begins at home.
He is paid by us, not the UN/WEF
Can you try a bit harder than “twerp”?
It took an hour of quiet contemplation before I could control my desire to say what I really thought should happen to “Cleverly” and his numerous chums in the Houses of Pharmament.
But I’ve no desire to be the guy who gets the pernicious and malicious OFCOM on Paul’s case.
Can we settle on “Chumperly”..?
I see a red veil when I read or hear the words sustainable or sustainability. Like other FAR left wing twisted terms which the numpties of the politically party once called the Conservative Party have embraced 1. at best only vague and contradictory explanations are give for what the word means and 2. this is because either it is just a word salad filler OR what the users mean is diametrically opposite to the dictionary definition and they do not want you to know that.
Control the language and you control the conversation.
Just what we need, another generous clown spending my taxes but not on us?
There’ll be thousands of corrupt politicians and civil servants in Africa rubbing their hands.
Foreign aid has been described as the transfer of money from poor people in rich countries to rich people in poor countries.
What is a sustainable development goal?
“Newspeek” (sic) for Schwabian WEF The Great Reset …….as is being trotted out by our bought off Pharmamentarians ( aknmts to MB above, very apt)
The poor fellow has an unfortunate name but I suppose Stupidly would not be appropriate.