Last month COP27 came to a close with a historic announcement to establish a loss and damage fund, where rich countries pledge financial support to countries most vulnerable to the climate crisis.
Earlier in the month, Boris Johnson stated the UK does not have resources to pay climate reparations to low-income countries. While this may be true, ignoring the problem will be increasingly difficult. This year researchers at Dartmouth College published scientific evidence for climate liability, citing the top five emitters have caused $6 trillion in damages between 1990 and 2014. The flood in Pakistan this year that affected 15% of its population has been called a climate disaster of biblical proportions – and things are projected to worsen, causing further domino effects to our already strained global supply chain.
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