COP27 Will Become a War on Climate Change Compensation – Get Better With That?

Essay by Eric Worrall

Developing countries are increasingly frustrated that rich countries do not contribute to Dear Leader’s ESG Mercedes Benz fund.

Climate change compensation battle ahead of COP27 summit

Via Kate Abnett

BRUSSELS, Aug. 8 (Reuters) – Tensions are growing ahead of this year’s United Nations climate summit, as vulnerable nations step up demands that rich countries pay for their the damage caused by climate change to the poorest people in the world.

When diplomats from nearly 200 countries meet on November 7 in the seaside resort town of Sharm El Sheikh, Egypt, the talks will tackle how to cut climate change-inducing CO2 emissions. climate and deal with existing climate impacts, including deadly heat waves, wildfires, sea level rise and drought.

But another issue is likely to dominate the negotiations: “loss and damage,” or climate-related devastation to homes, infrastructure and livelihoods in the poorest countries, countries that contribute little to global warming.

As COP27 approaches, climate damage is mounting – in rich and poor countries. In recent weeks, wildfires have devoured large swaths of land in Morocco, Greece and Canada, drought has ravaged Italian vineyards, and deadly floods have caused deaths in the Gambia and China. read more

Nor are rich nations making promises of $100 billion a year by 2020 to help poor nations reduce emissions and prepare for climate change. read more Loss and damages payments will be in addition to that $100 billion.

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You have to look at it from the point of view of the poor country delegates.

Former dictator of Iraq The son of Saddam Hussein, Uday famously tortured sports stars if they didn’t return the goldwhen they participate in high-achieving international tournaments.

I’m not sure what the penalty was for not returning from the COP conference with a suitcase full of cash, but for all that was promised the cash still didn’t flow, being a COP delegate for a number of national leaders The more excitable family member in the world doesn’t sound like a job with good long-term prospects.

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