A series of four bar graphs that shows the top five over-emitting countries by share of total excess emissions from 1960 to 2050, and the annual per capita compensation due until 2050, together with the top five low emitting countries and their share of total appropriated emissions from 1960 to 2050, along with annual per capita compensation owed to them until 2050.

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1. Bread and Circuses (breadandcircuses@climatejustice.social)'s status on Saturday, 10-Jun-2023 11:36:25 JST Bread and Circuses

   Academics have figured out just how much the gluttony of the Global North is costing poorer countries in the Global South.

   And it's a LOT of money.
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   Countries like the United States and those in Europe could be on the hook for an eye-popping $170 trillion in climate reparations for their excessive carbon emissions, according to new research from the University of Leeds.

   The study highlights inequities in the remaining carbon that the world can emit before invoking even more catastrophic climate events. Wealthier countries like the U.S, United Kingdom, and Germany are not only responsible for the largest share of current and historic emissions, but they are also on track to overshoot their existing carbon budgets, or the amount that the world can emit before exceeding the current global target of 1.5 degrees C (about 2.7 degrees F) of warming.

   “The problem is that the Global North would be overshooting its collective fair share of the 1.5-degree carbon budget by nearly three times,” said Andrew Fanning, the study’s lead author. “And, of course, if some countries are overshooting, then other countries need to pick up the slack.”

   The study found that the U.S. would be responsible for the largest share — $80 trillion — for its excess emissions, which would be paid out to historically low emitters like India and China as well as regions like sub-Saharan Africa. The oversized carbon footprint of wealthier nations has been an ongoing roadblock in the race to cut emissions and curb the worst impacts of climate change. Researchers sought to quantify how much excess emissions would cost and used the existing framework from the IPCC to price out the difference in emissions.

   “Some countries have used far more than their fair share, while others essentially lose parts of their fair share,” said Fanning. “And that is unjust.”
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   Now, the big question is, will this remain nothing more than an academic calculation? Or will the countries who are causing the climate crisis actually be forced to pay the bill for it?

   Will pigs fly?

   FULL ARTICLE -- https://grist.org/international/study-us-owes-80-trillion-climate-reparations-excess-carbon-emissions/

   #Environment #Climate #ClimateChange #ClimateCrisis #ClimateEmergency #CO2 #Emissions #ClimateJustice