06-05-2023
Industrialized countries owe roughly $170 trillion for CO2 emissionsResearchers say industrial nations causing excessive CO2 emissions could end up paying a staggering $170 trillion in compensation or reparations by 2050. This is to help meet climate change targets. That's close to $6 trillion annually. It's about seven percent of the yearly global Gross Domestic Product (GDP). Low-emitting countries, having to speed up their decarbonization, would receive the money as compensation. Climate-vulnerable countries experience losses and damages due to others' excessive CO2 emissions. Therefore, financial redress becomes crucial in international climate change negotiations. Last year's COP...
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