Who Should Pay for Climate Damage?
Climate reparations were the hot topic at the COP 27 climate negotiations in Egypt over the last several weeks. Poorer countries want high emitting rich countries to pay for “loss and damage” due to the effects of a warming climate. Sea level rise, storms, wildfires and flooding are creating enormous costs and in some cases wiping out entire communities. As the atmosphere warms, this situation will only get worse.
But who should pay for this? Traditionally climate events are considered “Acts of God” and are cleaned up by governments, with taxpayer funds. But saying the warming climate is an “Act [… continue reading]