When you get China and India on board and my grand children actually have an opportunity to breath cleaner planetary air, I will get on board with you hand in hand.
What I will not do is borrow money from China for a symbolic gesture.
It's already been covered, but where is the logic behind a position of doing nothing for your grandchildren unless China also reduces carbon emissions? For what it's worth, the bulk of China's growing carbon emissions are being created from rapid industrialization...which is still mostly devoted to production of products that go to American and other Western markets because of the brilliant idea of outsourcing production to nations with cheap labour and no health or environmental regulations....thank you right wing Neoliberal economic theory! And historically, China is just catching up to present levels of emissions; the U.S., England and other Western nations have produced the bulk of the extra CO2 that's in the atmosphere now, so there is an argument that payment of the damage should be adjusted to deal with these past emissions.
Sometimes solutions are arrived at at the last minute...actually that seems to be the usual pattern....but, if we assume present trends into the future, we experience more of the extreme weather which is already costing us in storm and drought damages; increasing crop failures leading to declining yields and higher food prices; higher energy costs (as well as other crucial raw materials in decline as demand increases)....and further along in the future (according to the CIA) we can expect a dramatic increase in failed states, resource-driven wars and conflicts, leading to millions of refugees and mass migrations from the increasingly drought-stricken global south.
And all of the natural factors that have precipitated these problems will keep getting worse as the years and decades go on, because even if civilization was ground to a halt tomorrow, there is a lag of several decades between the time greenhouse gases are dumped into the atmosphere, and the full effects become apparent. There has been enough warming to continue the positive feedbacks of a melting Arctic to dump more of its sequestered carbon into the atmosphere. At what point does living go from being a struggle to impossible? Well, that may be further along in the future, but who knows -- the point, as a recent study of carbon sequestration indicated, it will take up to 100,000 years for natural negative feedback responses to remove all that carbon and bring the atmosphere back to normal levels.
This is ultimately a moral question, and not one just about environment policy, economic theory and politics. At some point we have to ask: what are the lives of future generations worth? So far, they are out of sight and out of mind...just like refugees somewhere in Africa, except that they might barge in on our senses whenever one of those Worldvision commercials pops up on the TV. A better perspective is to ask: how would we be feeling about past generations 200 years ago if the modernization and industrialization had occurred at a quicker pace, and we were the ones left dealing with a declining, hot and polluted world where even the oceans were turning anoxic, and oxygen levels were declining as CO2 levels were increasing? Such a scenario happened about 250 million years ago, and led to the greatest extinction in Earth's history.
It takes a lot of hubris to just assume that future generations will somehow deal with it, but that's exactly what is being expected by the majority of people living in the West, who have become accustomed to the status quo, and don't want to make whatever necessary changes would be needed to prevent a nightmare future for our grandchildren and future generations.