More than 190 governments are meeting in Dubai for the UN COP28, focusing on climate and rising global temperatures.

With this, the COP debates a new financial target to help developing countries abandon fossil fuels . The issue of loss and damage remains under discussion, with emphasis on financing to address irreparable damage caused by climate change.

Highlights at this meeting will be the previous agreements that were signed but never came to fruition, and which must now be demanded by the heads of states of emerging countries, as was the case with President Lula, who in his speech recalled the promises made of R$100 billions annually in aid to mitigate the effect on poorer nations and which were not complied with. President Lula quotes:

"It is unacceptable that the promise of 100 billion dollars per year made by developed countries does not come to fruition while, in 2021 alone, military spending reached 2 trillion and 200 billion dollars."

From my perspective, developed countries face fiscal pressures with deficits above the tolerable limit. I see their promises becoming increasingly challenging to fulfill, given the financial pressure on their budgets, similar to the situation in Brazil.

Source: IMF

Additionally, identifying the person responsible for the increase in global temperatures, in this case, the burning of oil , is, in my opinion, somewhat imprecise.  Although burning oil contributes to environmental pollution, it is crucial to note that technologies already exist that eliminate much of the CO2 emissions resulting from burning oil . Claiming that the solution for our planet lies in a chromium-nickel battery would be premature . Questions arise about the potential leaks of these heavy metals into our springs. Besides, where will it all end? I'll tell you where: in the exploration of noble metals in a virgin forest in the state of Amazonas. While oil exploration in the pre-salt, the use of CO2 filter technology, as the best ecologically and economically viable alternative, has already been discarded.

As indicated by President Lula, reallocating part of the military budget to combat rising temperatures could be a solution, avoiding an increase in nations' complicated debt/GDP ratio. It seems like the world is preparing for war, but against the wrong enemy.