We will save the markets, not the climate. That is how we can summarize the outcome of the 17th Conference of Parties (COP17) to the United Nations Framework on Climate Change (UNFCC) which took place in Durban, South Africa between 28 November and 10 December 2011. With regard to the Green Climate Fund, as a first step, rich countries pledged to contribute up to $ 30 billion in 2012 and 100 billion per year until 2020. In the first place these amounts are insufficient. Further, no source of public funds has been identified. Therefore, the doors are wide open to private investment run by the World Bank. As has already been noted by social movements, this is a strategy to "transform the Green Climate Fund into a greedy employers’ fund".
Another example of the commodification of the atmosphere was the endorsement by the United Nations of capture and storage of CO 2 as a mechanism for so-called clean development, whereas this procedure is not intended to reduce emissions and will help to seriously deepen the environmental crisis, especially in developing countries that are candidates to become cemeteries of CO 2 in the future.