Who will pay for climate loss and damage?
Climate talks in COP27 recently concluded with a landmark agreement to create a loss and damage fund that would provide financial assistance to poor nations stricken by climate change. Historically, this idea has been resisted by richer nations who fear taking up the liability for climate change. Many poor countries continue to argue that they have done the least to cause climate change, but are likely to suffer the greatest losses, and should be compensated.
In this episode, host Ritu Bhandari, manager, Policy & Insights at Economist Impact dives deeper into the role of a formal loss and damage mechanism in meeting our climate goals, countries most likely to push for action on this issue and factors that will shape it in the future, with Catherine Higham, policy fellow at Grantham Research Institute on Climate Change and the Environment of the London School of Economics.
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