{"id":57,"date":"2021-10-22T15:47:59","date_gmt":"2021-10-22T14:47:59","guid":{"rendered":"https:\/\/econyq.com\/news\/?p=57"},"modified":"2021-10-22T15:47:59","modified_gmt":"2021-10-22T14:47:59","slug":"who-should-pay-the-worlds-climate-debt","status":"publish","type":"post","link":"http:\/\/dev-econyq.com\/news\/who-should-pay-the-worlds-climate-debt\/","title":{"rendered":"Who should pay the world&#8217;s climate debt?"},"content":{"rendered":"<p>One of the most hotly debated topics at the COP26 climate conference will be climate finance &#8211; essentially, how we distribute the costs of climate change.<\/p>\n<p>Under the Paris agreement, developed countries committed to provide $100bn (\u00a372bn) a year by 2020 to help less wealthy nations shoulder the cost of climate damage.<\/p>\n<div class=\"sdc-site-outbrain sdc-site-outbrain--AR_6\" aria-hidden=\"true\" data-component-name=\"sdc-site-outbrain\" data-target=\"\" data-widget-mapping=\"\" data-installation-keys=\"\" data-init=\"true\">\n<div id=\"outbrain_widget_0\" class=\"OUTBRAIN\" data-src=\"https:\/\/news.sky.com\/story\/who-should-pay-the-worlds-climate-debt-12438217\" data-ob-template=\"bskyb\" data-widget-placement=\"\" data-widget-id=\"AR_6\" data-is-secured=\"true\" data-consent-string=\"\" data-consent-version=\"2\" data-ob-mark=\"true\" data-browser=\"chrome\" data-os=\"win32\" data-dynload=\"\" data-idx=\"0\">\n<div class=\"ob_box_cont CR_6\"><\/div>\n<\/div>\n<\/div>\n<p>But, they failed to deliver by this deadline.<\/p>\n<p>Now, new research from the Center for Global Development (CGD) estimates that members of the Organisation for Economic Co-operation and Development (OECD) should commit almost double this amount &#8211; $190bn (\u00a3138bn) a year &#8211; until 2100.<\/p>\n<p>Brian O&#8217;Callaghan, lead of the Oxford University Economic Recovery Project, says that the developed world now needs to face up to &#8220;climate colonialism&#8221;.<\/p>\n<p>He added: &#8220;As rich countries, we industrialised early, effectively buying ourselves economic prosperity at the cost of significant carbon emissions. These emissions now threaten lives and livelihoods in developing nations.&#8221;<\/p>\n<p>Since industrialisation began, high-income economies have produced three-fifths of the world&#8217;s historical carbon emissions, almost 100 times more than the proportion produced by low-income countries.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>New research suggests that developed countries should pay almost double the amount proposed under the Paris Agreement to offset their historical emissions.<\/p>\n","protected":false},"author":1,"featured_media":59,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-57","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorised","entry"],"_links":{"self":[{"href":"http:\/\/dev-econyq.com\/news\/wp-json\/wp\/v2\/posts\/57","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/dev-econyq.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/dev-econyq.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/dev-econyq.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/dev-econyq.com\/news\/wp-json\/wp\/v2\/comments?post=57"}],"version-history":[{"count":1,"href":"http:\/\/dev-econyq.com\/news\/wp-json\/wp\/v2\/posts\/57\/revisions"}],"predecessor-version":[{"id":60,"href":"http:\/\/dev-econyq.com\/news\/wp-json\/wp\/v2\/posts\/57\/revisions\/60"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/dev-econyq.com\/news\/wp-json\/wp\/v2\/media\/59"}],"wp:attachment":[{"href":"http:\/\/dev-econyq.com\/news\/wp-json\/wp\/v2\/media?parent=57"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/dev-econyq.com\/news\/wp-json\/wp\/v2\/categories?post=57"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/dev-econyq.com\/news\/wp-json\/wp\/v2\/tags?post=57"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}