The terms of the "loss and damage" fund need to be worked out, according to the US climate envoy, by 2023.
According to US climate envoy John Kerry, people in developing countries are becoming more and more incensed and "victimised" by the global catastrophe, and developed nations must act quickly.
I've been documenting the rising resentment and indignation of island governments, weaker nations, small African nations, and others who feel victimised by the fact that they make up such a small portion of emissions, the author added. "But they're still paying a very hefty price. Even though 48 sub-Saharan nations account for 0.55% of global emissions, 17 of the top 20 countries affected by the climate catastrophe are in Africa.
A heated dispute between wealthy and poor nations over "loss and damage," the euphemism for the worst effects of climate calamity, and the means of rescuing and reconstructing impoverished nations affected by them nearly wrecked the Cop27 UN climate meeting in Egypt in November.
After some deliberation, the US, EU, UK, and other wealthy countries decided to create a new fund for loss and damage without specifying its size or source of funding.
In 2023, Kerry said, more work would be required on the fund's specifics, but the US was dedicated to aiding the poor world with loss and damage.
He questioned, "How can you look someone in the eye with a straight face and not embrace the premise that there are harms and losses? "We notice them everywhere in the world. You can see them in rising sea levels, we can see them in fires and floods, and we can see them in Pakistan and other places. We observe them in storms that are more intense.
He said, though: "How you handle [loss and damage] is still in question; how do you tackle this problem of the financial arrangements. However, it was crucial to acknowledge their presence and the need for us to make progress in a sincere manner.
In December, Kerry spoke to the Guardian in London. Given that the House of Representatives is controlled by Republicans, the White House will have a difficult time getting funding from Congress for climate change. A budget measure that was enacted right before Christmas and contained less than $1 billion in climate money foreshadowed the coming challenges.
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