Climate Injustice Won't End With World Bank Loss-and-Damage Fund - Bloomberg
Climate Injustice Won't End With World Bank Loss-and-Damage Fund - Bloomberg
Seeing Climate Injustice Is Easy. Fixing It Is Hard
A new fund to compensate poor nations for climate disasters highlights why the world is having such a hard time taking action.
Pakistan wants compensation for its floods.Photographer: Abdul Majeed/AFP/Getty Images
At their heart, climate negotiations are about one thing: Who pays? Usually, the fight is over who will pay to save the world — by financing projects, such as solar farms, that would help reduce carbon emissions in the future.
Disagreements on such questions go deep enough. But the deepest anger is reserved for another issue: Who will pay for the damage already done by climate change?
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Seeing Climate Injustice Is Easy. Fixing It Is Hard
Related Knowledge Center: Climate legislation
The federal government and states are in the process of implementing two laws — the Infrastructure Investment and Jobs Act and the Inflation Reduction Act — an investment of more than a trillion dollars to address climate change.