COP27: who pays for climate change?

COP27 was held in Egypt where world leaders gathered to address concerns about climate change - one of the main topics for discussion was 'loss and damage'.

With many developing countries experiencing catastrophic weather events such as floods, drought and fires due to climate change, 'loss and damage' is a call for rich polluters to help these countries. Plans to help developing nations 'green' their economies have frequently stalled. As a result, today, the call is also for financial compensation to help with the catastrophic damage they have already experienced.

Demonstrators from some of the countries most impacted by climate change protested outside COP27.

Disha Ravi: "We are here today to ask world leaders to pay up for loss and damages in my country and other countries in the world that are on the frontline of the climate crisis, so we are here to ask today to show us the money."

Developing countries have the lowest levels of carbon emissions. However they're paying the highest price in terms of the impact of climate change. Joan Maguy has noticed the impact in her own country.

Joan Maguy: "We have a flood in our country, landslides and also drought. We are asking our leaders to put loss and damage on the agenda while making negotiations. We need our leaders to act like this is an emergency because this is an emergency right now."

A report published in Earth System Science Data suggests CO2 fossil fuel emissions are on track to rise one percent in 2022 to reach an all time high. Atmospheric CO2 levels are now 50 percent above pre-industrial levels.

The worst polluting nations must take responsibility according to Ina Maria, a protestor from Namibia.

Ina Maria: "Africa is not responsible for the emissions. We only contributed less than four percent, and the rest comes from the northern countries. And that's why they owe us this payment, this funding."

For Ina Maria the battle against climate change is a world wide one.

Ina Maria: "What is happening in Africa, it affects Europe too, it affects North America, it affects all peoples. The climate crisis has no borders."

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