Only a handful of governments have ever committed money to the harms of climate change that go beyond the limits of human adaptation, with the idea that the rich and polluting world must "compensate" the poor. Countries vulnerable to the impacts of climate change remain an explosive issue.
Scotland will announce new funding for the losses and damage caused by climate change to vulnerable countries beyond the realm of human adaptation. "We will announce a greater financial commitment for loss and damage," Prime Minister Nicola Sturgeon told TECHAHOLIC during the COP27 climate summit in Egypt.
The additional money will focus "specifically on the non-economic loss and damage many countries are suffering," he said, which could include things like the loss of culture and tradition. Economic losses encompass things like job losses due to the collapse of industries, the loss of buildings due to hurricane damage, or the loss of entire communities and cities as coasts are devoured by sea level.
"It would be another very important part of Scotland's determination to see real progress behind this issue that should have been addressed many years ago," said the premier in Sharm el-Sheikh on the Red Sea. During the COP26 climate talks in Glasgow last year, Scotland became the first developed nation to pledge funding for the controversial issue. The promised sum of £ 2 million was small, but it helped break a taboo on the subject. Since then, Denmark has pledged 100 million Danish kroner (11.8 million pounds).
But even since COP26, violent weather events have hit the whole world, from famine amid drought in the Horn of Africa to 32 million people uprooted from their homes by the violent floods in Pakistan, surprising scientists by its severity. More details on the new funding will be revealed on Tuesday, TECHAHOLIC understands.
UN chief Antonio Guterres said the issue would be a "litmus test" of governments' commitment to COP27 climate talks, which are off to a good start today. Speaking to world leaders, the secretary general said that loss and damage "can no longer be hidden under the carpet".
Many are surprised by impacts for which they had no warning and no means to prepare. "
Vulnerable nations, which according to research have generally done the minimum to cause climate change but are suffering the worst impacts, have been calling for financial help for years.
Historically, the rich and polluting world, including the United States and the EU, has been wary of what they fear could open the door to endless claims and accusations of responsibility. But the devastating impacts of climate change have been so acute that countries have become more open to discussing it, fiercely resisting being framed as "compensation" or "compensation".
COP27 opened yesterday with a turning point, as the issue of financing these losses was first placed on the agenda of a UN climate talk. But countries have until 2024 to come up with a plan, too slow for some, to point to the wild shocks already felt, particularly in countries already burdened with debt.
"The prime minister's commitment to helping people cope with the climate crisis is unmatched," said Harjeet Singh, longtime pay-off activist and head of global policy strategy at the Climate Action Network. . Singh told TECHAHOLIC that he hoped the move would "inspire and push wealthy governments to recognize the huge funding gap to address climate impacts, such as the loss of land, homes and cultures."
Former US vice president turned climate activist Al Gore told world leaders to "[support] governments that pay money for loss, damage and adaptation," a meaningful statement from someone representing the United States. United States, which stopped talks on the issue last year. We need 4.5 trillion dollars a year to make this transition" to clean energy, he said, saying it was necessary to unlock access. to private capital.
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