Don't look at me, I don't have that kind of money.
From Grist Magazine, June 6, 2023:
Major polluting countries could be responsible for a collective $170 trillion for overshooting their fair share of carbon emissions.
Countries like the United States and those in Europe could be on the hook for an eye-popping $170 trillion in climate reparations for their excessive carbon emissions, according to new research from the University of Leeds.
The study highlights inequities in the remaining carbon that the world can emit before invoking even more catastrophic climate events. Wealthier countries like the U.S, United Kingdom, and Germany are not only responsible for the largest share of current and historic emissions, but they are also on track to overshoot their existing carbon budgets, or the amount that the world can emit before exceeding the current global target of 1.5 degrees C (about 2.7 degrees F) of warming.
Researchers used estimates from the Intergovernmental Panel on Climate Change, a group of experts assembled by the United Nations, to measure the total global carbon budget as well as a country’s individual budget. They also looked at the deep cuts in emissions that countries in the Global South will have to make if they are to counteract the countries that use more than their fair share, and the study attempts to quantify the dollar amount that would properly compensate them for it.
“The problem is that the Global North would be overshooting its collective fair share of the 1.5-degree carbon budget by nearly three times,” said Andrew Fanning, the study’s lead author and a visiting research fellow at the University of Leeds. “And, of course, if some countries are overshooting, then other countries need to pick up the slack.”
The study found that the U.S. would be responsible for the largest share, $80 trillion, for its excess emissions, which would be paid out to historically low emitters like India and China as well as regions like sub-Saharan Africa....
....MUCH MORE
As we approach another climate Conference of the Parties, this one being number 28 in Dubai,
US 'under no circumstances' will pay climate reparations, Kerry says
However...
If we call it something else...
Race against time to resolve climate 'loss & damage' fund deadlock
Experts say the top COP28 issue must be tackled before the Dubai meeting.
Reuters, November 5: "World Bank poised to host climate loss and damage fund, despite concerns", we'll see you in the UAE at the end of the month!
