This has quickly become the key issue at COP27
Image: Loren Elliott/Reuters
The torrential floodwaters submerged a third of Pakistan. The South Asian country is responsible for less than 1% of the world’s planet-warming emissions, but it is paying a heavy price. And there are many other countries like it around the world.
Pakistan became the clearest example this year of why some countries are fighting for a so-called “loss and damage” fund. The concept is that countries that have contributed the most to climate change with their planet-warming emissions should pay poorer countries to recover from the resulting disasters.
United Nations (UN) climate summits are held every year, for governments to agree steps to limit global temperature rises.
COP27 will focus on three main areas:
- Reducing emissions
- Helping countries to prepare for and deal with climate change
- Securing technical support and funding for developing countries for the above
Loss and damage
Loss and damage will be center stage at COP27 in Sharm el-Sheikh, Egypt, this year, as low-emitting countries inundated with floods or watching their islands sink into the ocean are demanding that developed, high-emissions countries pay up for this damage.
But it’s been a contentious issue for years, as rich countries like the United States fear that agreeing to a loss and damage fund could open them up to legal liability, and potential future lawsuits.
Some officials from climate-vulnerable nations warned that if countries fail to come to an agreement now, the problem will be much worse later.
ZRGP, as an energy storage expert, is willing to contribute to the fight against global warming. Embrace the green planet!