Today, Explained Can you spare some climate change?
Nov 28, 2022
Umair Orfan, a science reporter at Vox known for his coverage of climate change conferences, discusses the pivotal UN accord where over 190 countries agreed to address climate damage. He delves into the moral complexities surrounding compensation from high-emission nations to vulnerable countries. Umair highlights the financial struggles faced by the U.S. in supporting global initiatives and the geopolitical challenges affecting climate agreements. The urgency of limiting global warming to 1.5°C and the upcoming COP28 conference are also key points of focus.
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Loss and Damage Fund
- COP27's main achievement was the agreement to create a "loss and damage" fund.
- This fund will compensate poorer countries for climate change effects, a contentious issue in past COPs.
Consensus and Challenges
- Reaching a consensus at COP27 was challenging due to the diverse interests of nearly 200 participating countries.
- Even with almost every country in agreement, the specifics of who pays and who receives funds remain unresolved.
China's Role
- China's role in climate financing is debated: should it be a donor or recipient?
- Its status as a major emitter and developing nation with significant climate vulnerabilities complicates this decision.