Carbon Majors Funding Loss and Damage

Carbon-Major-Image1

Fossil fuel producers (the “Carbon Majors”) should pay for the loss and damage their product is causing on poor communities via a levy to the International Mechanism for Loss and Damage.

Billions of people in poor communities are innocent victims in the climate change equation. They pollute the least, yet they are already suffering from loss and damage caused by climate change through impacts such as:

  • drought and changing rainfall patterns in the Sahel region; sea-level rise and coastal erosion in small islands;
  • the double challenge of rising sea levels and severe cyclones in Bangladesh; and
  • the devastating effect of super-Typhoon Haiyan on the Philippines.

These impacts have already gone beyond the ability of communities to adapt. It is expected that loss and damage from climate change will increase dramatically in the poorest parts of the world.

More here