Reuters: COP27 to be a Battle Over Climate Change Compensation

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Essay by Eric Worrall

Developing countries are growing increasingly frustrated that rich countries have failed to contribute to Dear Leader’s ESG Mercedes Benz fund.

Climate change compensation fight brews ahead of COP27 summit

By Kate Abnett

BRUSSELS, Aug 8 (Reuters) – Tensions are mounting ahead of this year’s U.N. climate summit, as vulnerable countries ramp up demands for rich countries to pay compensation for losses inflicted on the world’s poorest people by climate change.

When diplomats from nearly 200 countries meet on Nov. 7 in the beachside resort town of Sharm El Sheikh, Egypt, negotiations will tackle how to cut the CO2 emissions causing climate change and cope with existing climate impacts, including deadly heatwaves, wildfires, rising seas and drought.

But another issue is likely to dominate the talks: “loss and damage,” or climate-related destruction to homes, infrastructure and livelihoods in the poorest countries that have contributed least to global warming.

As COP27 approaches, climate losses are surging – in rich and poor countries alike. In recent weeks, wildfires have swallowed huge swathes of land in Morocco, Greece and Canada, drought has ravaged Italy’s vineyards, and fatal floods hit Gambia and China. read more 

Wealthy countries also failed to deliver a promise for $100 billion a year by 2020 to help poor countries lower emissions and prepare for climate change. read more Loss and damage payments would be in addition to that $100 billion.

Read more: https://www.reuters.com/business/environment/climate-change-compensation-fight-brews-ahead-cop27-summit-2022-08-08/

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

Former Iraqi dictator Saddam Hussein’s son Uday famously used to torture sports stars if they failed to return with gold, when they participated in high profile international tournaments.

I’m not sure what the punishment is for failing to return from a COP conference with a suitcase full of cash, but with all that promised cash still failing to flow, being a COP delegate for some of the world’s more excitable national leaders doesn’t seem like a job with good long term survival prospects.

via Watts Up With That?

August 8, 2022