I blogged earlier about the EU getting raspberries for their pledge of $10 billion to poorer nations. Some NGOs accuse the Europeans of simply relabelling donations they've already pledged.
And you have the two largest air polluters on earth--China and the U.S.--sparring over who owes whom for this global warming thingy. Does China actually imagine debtor U.S. will willingly borrow more money from China and then give it back so China can spend that money on cleantech? Or meybe we send the Peace Corps into build some earthquake-proof nuc plants for China?
China says it is coping with climate change and called on developing nations to cough up the money. Meanwhile, China's economy is expanding and they are saying they'll spend more on alternative energy development than any other nation. Makes sense, as they are the fastest growing energy consumer on earth and they have economic need to expand energy production anyway. And China is not rich in coal, natural gas or oil, so alternative energy makes all kind of sense for them. And the government controls the companies, so who's to complain?
Because money is always central to any major political deal the U.S. refuses to cop to any guilt or "carbon reparations." Opening that door could imply a flood of American money out the door. Could cost a major fraction of waging another war, for example.