Billion-Dollar Appeal: Developing Nations Seek Climate Reparation

The 14 developing country members of the committee drawing up rules for a new international loss and damage fund included the target in their joint proposal ahead of a crunch meeting in the Dominican Republic in August 2023.

Citing a UN-commissioned report that foresees climate-related loss and damages reaching $150-300 billion a year by 2030, the proposal says $100 billion “is not meant as a ceiling but rather as a minimum commitment”.

Loss and damage refer to the destruction caused by climate change that cannot be prevented or adapted to. After decades of pressure from vulnerable countries, rich countries agreed last year to set up a fund to address the costs of this destruction. Read More

News Credit: Climate Home News

Picture Credit: Pedro Armestre/Greenpeace

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