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Industrialized countries have to pay $170 billion as compensation or damages until 2050 to guarantee the goals of controlling excess emissions carbon dioxide (CO2), according to a study
Industrialized countries have to pay $170 billion as compensation or damages until 2050 to guarantee the goals of controlling excess emissions carbon dioxide (CO2), according to a study involving the Institute of Environmental Sciences and Technology of the Autonomous University of Barcelona (ICTA-UAB).
This money, amounting to almost 6 trillion dollars a year, is equivalent to about 7% of global GDP annually, it will be distributed as compensation to low-emission countries forced to decarbonize their economies much faster than would otherwise be necessary, according to the document, which led to Leeds University and which is being published today in the journal Nature Sustainability.
The authors recalled that in international negotiations on changing of the climate and what’s on COP27’s Egypt An agreement has already been reached on the establishment of a Loss and Damage Fund for countries affected by climate change.
The researchers conducted this study to establish how an evidence-based compensation system might work in nearly 170 countries, and to do so they developed an interactive web page that allows them to explore which countries may be eligible for compensation and at what rate. . and which countries should pay them.
“This is the first system that shows that countries historically responsible for excessive CO2 emissions are obligated to fund compensation,” explained ICTA-UAB researcher and study co-author Jason Hickel.
According to the study, Spain must pay $1.9 trillion by 2050 for excessive CO2 emissions, equivalent to $1,310 per capita per year.
Great Britain must pay $7.7 trillion, while USA will pay $80 billion.
India, a historically low CO2 emitter would be eligible for $57 billion in compensation.
According to the study, Brazil, Colombia and Mexico These are the Latin American countries that owe the most money in absolute terms, as Brazil will receive $6.3 trillion, Colombia $1.6 trillion and Mexico $1.5 trillion.
The authors of the study urged all countries to urgently stop burning fossil fuel and threw greenhouse gases “to avoid the worst effects of climate change,” while acknowledging that “not all countries have made the same contribution to tackling the problem.”
In this sense, they argue that it is “a question justice” if countries are asked to quickly decarbonize their economies, even if they are not responsible for excess climate-destabilizing emissions.
The compensation system is based on the idea that the atmosphere is a common good, a natural resource that everyone should use in a fair and sustainable way.
To quantify the losses suffered by low-carbon countries, the researchers first derived the most recent remaining global carbon budgets estimated Intergovernmental Panel on Climate Change (IPCC).
The carbon balance is the amount of carbon that can be released into the atmosphere to meet a given climate goal, such as keeping global warming at 1.5ºC.
Since 1960, this carbon balance has been equivalent to 1.8 trillion tons of CO2.
The researchers then calculated the “fair share” of that total carbon budget for 168 countries, based on their populations, and compared that share to the amount of CO2 each country has historically emitted since 1960, along with an ambitious decarbonization scenario from current levels. to “net zero” in 2050.
According to the study, some countries did not exceed their quota, while others, especially the industrialized countries of the North, “already significantly exceeded it, appropriating a share of atmospheric wealth that would correspond to other countries.”
He cites as an example that the UK used 2.5 times its share, the United States over four times its share, and India used just under a quarter of its share.
(EFE)
Source: Aristegui Noticias
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