FOR ONCE, the rich countries of the world have accepted that the global environment cannot be seen in a piecemeal fashion—developed and developing countries—and in a historic decision at COP27 agreed to pay for the damage caused to developing countries by climate change.
The meeting, which was held from November 6 to 20, in Egypt, understood the need and agreed to a special fund to cover loss and damages. The developed world, for the first time, quietly took ownership of being the main polluter and responsible for global warming and climate change. On the principle that the “polluter pays,” developed countries will mainly be contributing to the fund. Available funds were previously used for adaptation to climate change (preventive measures). Now it will be available also for those who suffered loss and damage due to climate change.
This story is from the December 04, 2022 edition of THE WEEK India.
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This story is from the December 04, 2022 edition of THE WEEK India.
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