SUBSCRIBE TO OUR FREE NEWSLETTER
Daily news & progressive opinion—funded by the people, not the corporations—delivered straight to your inbox.
5
#000000
#FFFFFF
5
#000000
#FFFFFF
loss and damage
Climate Negotiators Will Talk About Anything But Finance and Decarbonization
While Bonn has spent considerable time debating indicators, methodologies, and reporting frameworks, developing countries continue to raise concerns about access to finance and the means needed to turn plans into action.
Jun 18, 2026
The climate negotiations are beginning to feel like a masterclass in avoiding the obvious. Every year, negotiators arrive with new targets, new initiatives, and new buzzwords.
This year, one of the biggest announcements revolves around electrification. The incoming COP31 Presidencies have put forward a target to move from 20% to 35% electrification by 2035. At first glance, it sounds ambitious. Yet the key question is what will power that electrification.
An electric vehicle connected to a fossil fuel-powered grid does not necessarily deliver meaningful emissions reductions. Likewise, an electric factory running on gas-generated electricity cannot be considered evidence of a low-carbon transition. Electrification delivers climate benefits only when it is powered by renewable energy and accompanied by a clear road map to phase out fossil fuels.
Yet a fundamental contradiction persists. While governments celebrate record growth in renewable energy, they continue approving new oil, gas, and coal projects. Renewable energy capacity is increasing, but fossil fuel production is increasing too. Nearly 30 years after the adoption of the United Nations Framework Convention on Climate Change, negotiators are still struggling to confront the primary driver of climate change.
While developed countries point to existing contributions as evidence of progress, developing countries remain confronted with a widening gap between what is needed and what is being delivered.
The same tendency to search for new distractions is emerging in the agriculture discussions. Instead of prioritizing agroecology, which already provides proven solutions for adaptation, food security, biodiversity protection, and resilience, increasing attention is being given to artificial intelligence. While technology certainly has a role to play, farmers facing droughts, floods, soil degradation, and declining yields are not asking for algorithms. They are asking for secure access to land, water, seeds, finance, and support.
The adaptation discussions reveal a similar disconnect. While Bonn has spent considerable time debating indicators, methodologies, and reporting frameworks, developing countries continue to raise concerns about access to finance and the means needed to turn plans into action. Discussions under the Baku Adaptation Roadmap exposed broad agreement that major barriers continue to prevent finance from reaching countries and communities at the scale required. Yet when the conversation turned to solutions, momentum quickly faded. The same pattern resurfaced during discussions on the Global Goal on Adaptation, where developed countries showed far greater interest in technical discussions than in finance and implementation. Meanwhile, communities on the ground are left waiting for support that remains trapped in negotiation rooms.
And when adaptation falls short, those impacts do not simply disappear. They become loss and damage. Yet despite being recognized as the third pillar of climate action, loss and damage continues to be treated as an afterthought. During the opening plenaries in Bonn, Ghana, speaking on behalf of the Africa Group of Negotiators, and Timor-Leste, speaking on behalf of the Least Developed Countries, highlighted a striking contradiction: While countries repeatedly call for balance across climate action, there is still no comprehensive agenda item dedicated to loss and damage under the negotiations.
This diplomatic stalling now clashes directly with international law. In its landmark Climate Change Advisory Opinion, the International Court of Justice affirmed that states have a legal obligation to protect the climate system and cooperate to address climate harm. By clarifying that breaches of climate obligations may constitute internationally wrongful acts, the court strengthened the legal basis for responsibility, restitution, and compensation.
At the center of all these discussions lies a familiar issue: finance. The mitigation and adaptation ambitions embedded in the Paris Agreement were always contingent on the provision of climate finance under Article 9.1. Every ambition discussed in Bonn, from adaptation and resilience to renewable energy and implementation, ultimately depends on whether developing countries receive adequate support.
That tension is playing out directly in Bonn's finance negotiations. The two major finance discussions this year, the Climate Finance Work Programme and the Veredas Dialogue on Article 2.1(c), exposed a persistent divide. Developing countries continue to stress that climate finance is a legal obligation and the foundation for implementing climate action. Developed countries, meanwhile, continue pushing broader discussions centered on mobilizing finance from multiple sources, particularly private finance.
Ultimately, both processes highlighted the same reality: While developed countries point to existing contributions as evidence of progress, developing countries remain confronted with a widening gap between what is needed and what is being delivered.
Against this backdrop, the establishment of the Just Transition Mechanism at COP30 stands out as one of the few discussions focused on implementation rather than process. After years of dialogue under the UAE Just Transition Work Programme, Parties recognized the need for a dedicated mechanism capable of connecting ambition with delivery. Discussions in Bonn are now turning to how it can support countries navigating profound economic and social transformation.
For developing countries, this discussion goes far beyond climate policy. Energy access, industrialization, economic diversification, poverty eradication, and job creation are central to the transition many countries are trying to build. Whether the mechanism becomes a meaningful tool for support or simply another addition to the climate architecture will depend on the choices parties make in the months ahead. Without that shift from process to implementation, every year spent debating distractions is another year spent delaying the action we already know is needed.
Keep ReadingShow Less
Big Oil Tax Could Boost Global Loss and Damage Fund by 2000%
"The damages resulting from the industry’s operations are disproportionately borne by people who did not cause the crisis," said one campaigner.
Nov 18, 2024
A modest tax on the world's seven largest oil and gas companies could generate hundreds of billions of dollars by the end of the decade to assist poor and vulnerable communities with the impact of the climate crisis, according to a new analysis out Monday from the groups Greenpeace International and Stamp Out Poverty.
The groups found that a tax on fossil fuel extraction, which would increase each year, combined with additional taxes on excess profits would grow the UN's Fund for Responding to Loss and Damage by more than 2,000%.
The loss and damage fund was created two years ago during the COP27 summit in Egypt with the aim of helping vulnerable countries confront the risings costs of climate disasters. Last year, a group of nations that included the United States made their first financial pledges to the fund—though the size of the U.S. pledge was panned as "paltry" by climate justice advocates. As one of the world's largest fossil fuel emitters, the initial pledge of $17.5 million was miniscule relative to the hundreds of billions in fossil fuel subsidies the U.S. government handed out in 2022.
Total commitments to the loss and damage fund currently hover at around $720 million, according to The New York Times.
This year, at COP29 in Baku, Azerbaijan, boosting the money in the fund is top of mind for a number of UN leaders.
"The $700 million is obviously insufficient," Jorge Moreira da Silva, the executive director of the United Nations Office for Project Services, told the Times.
"In an era of climate extremes, loss & damage finance is a must. And we must get serious about the level of finance required. At #COP29, I urged governments to deliver. In the name of justice," U.N. Sectary-General António Guterres wrote on X as the summit kicked off last week.
The joint analysis—which focused on world's largest publicly traded oil and gas companies, a group that includes ExxonMobil, Shell, Chevron, TotalEnergies, BP, Equinor, and Eni—illustrates how major polluters could be tapped to support the fund.
Stamp Out Poverty researchers have "found that home government collection of volume-based [climate damages tax] is feasible, with many countries already collecting volume-based revenue from oil and gas producers," according to the report.
The briefing notes that the Climate Damages Tax "would be a fee on the extraction of each tonne of coal, barrel of oil or cubic metre of gas, calculated at a consistent rate based on how much CO2e [carbon dioxide equivalent] is embedded within the fossil fuel."
To illustrate the impact of this tax, Greenpeace and Stamp Out Poverty looked at the estimated costs associated with multiple extreme weather events in 2024 alongside the hypothetical tax revenue.
Hurricane Beryl, which impacted multiple Caribbean islands, Mexico and the U.S. Gulf Coast, caused at least $6.6 billion in estimated damages and losses, according to the report. Meanwhile, imposing a hypothetical Climate Damages Tax on the 2023 carbon emissions from ExxonMobil alone would raise enough money to cover nearly half of that price tag.
ExxonMobil made $38.6 billion in adjusted earnings for 2023, so levying a tax of $5 per tonne of CO2e in 2023 would yield $3.19 billion. Over the first year, the combined revenue from all seven companies would be over $15 billion. As the levy was increased over the two following years, that annual figure would grow to over $37 billion. The analysis, according to its authors "contributes to the growing civil society call for long term tax on fossil fuel extraction."
The report comes on the heels of two weeks of worldwide protests by Greenpeace activists and allies, during which some demonstrators confronted fossil fuel executives about their role in fueling climate disaster and demanded that they "pay for the climate damage they cause."
Keep ReadingShow Less
Who Should Pay for Climate Damage? Majority of the World Agrees: Big Oil
"As governments debate how to finance climate action, they can be confident that making polluters pay is not only fair, but also far more popular and effective than placing the burden on ordinary citizens."
Nov 04, 2024
A multinational survey commissioned by Greenpeace International and published Monday revealed that a majority of respondents favor making fossil fuel companies pay for being the main cause of the climate emergency.
Greenpeace International's Stop Drilling, Start Paying campaign commissioned the strategic insight agency Opinium Research to survey 8,000 adults in eight countries—Australia, Argentina, France, Morocco, Philippines, South Africa, the United Kingdom, and the United States—ahead of this month's United Nations Climate Change Conference, also known as COP29, in Baku, Azerbaijan.
"Asked about who should bear the most responsibility for climate change impacts, the most popular option across all eight countries in the survey was making oil and gas companies pay, with high-emitting countries and global elites ranked second and third," Greenpeace International said in a summary of the survey, adding that "60% of all surveyed countries see a link between profits of the oil and gas industry and rising energy prices."
The survey also found that two-thirds or more of respondents are angry about Big Oil CEOs getting huge bonuses even as their products exacerbate the planetary emergency; fossil fuel expansion; industry disinformation; and the "historic and ongoing role of oil and gas companies in conflict, war, and human rights violations."
Eight in 10 respondents said they were worried about climate change. However, more than twice as many people surveyed in the Global South said the climate emergency has personally affected them than respondents in the Global North.
According to Greenpeace International:
Imposing a fair climate damages tax on extraction of fossil fuels by OECD countries—proposed by the charity Stamp Out Poverty and supported by 100 NGOs, including Greenpeace International—is one example of a tax on big polluters. This could generate $900 billion by 2030... This would be key for annual climate-related loss and damage costs, estimated to be between $290-$580 billion by 2030 in low-income countries, as well as for reducing the emission of heat-trapping greenhouse gases and adapting to the impacts of the climate crisis in all countries.
"This research shows how taxing the wealthy polluters-in-chief—companies like Exxon, Chevron, Shell, Total, Equinor, and Eni—has become a mainstream solution among people, cutting across borders and income levels," said Stop Drilling, Start Paying co-chair Abdoulaye Diallo. "As governments debate how to finance climate action, they can be confident that making polluters pay is not only fair, but also far more popular and effective than placing the burden on ordinary citizens for a crisis for which they bear little or no responsibility."
The Opinium survey was published on the same day that Amnesty International called on the richer countries most responsible for the climate emergency to "fully pay for the catastrophic loss of homes and damage to livelihoods" in Africa.
"African people have contributed the least to climate change, yet from Somalia to Senegal, Chad to Madagascar, we are suffering a terrible toll of this global emergency which has driven millions of people from their homes," said Samira Daoud, Amnesty's regional director for West and Central Africa. "It's time for the countries who caused all this devastation to pay up so African people can adapt to the climate change catastrophe."
Keep ReadingShow Less
Pacific Islands Summit Highlights Disproportionate Climate Impacts
U.N. Secretary-General António Guterres stressed that "the region urgently needs substantial finance, capacities, and technology to speed up the transition and to invest in adaptation and resilience."
Aug 26, 2024
As more than 1,500 delegates from over 40 nations gathered in Tonga for the 53rd Pacific Islands Forum Leaders Meeting, climate defenders on Monday urged the world's biggest polluters to do much more to phase out the fossil fuels that are driving a planetary emergency disproportionately affecting low-lying island countries, which are among the world's lowest greenhouse gas emitters.
"Tonga's vision for the 53rd Pacific Islands Forum Leaders Meeting (PIFLM53) is for the Pacific to move beyond policy deliberation to implementation—to achieve transformation by building better now," summit organizers said in a statement affirming the event's mission to "develop collective responses to regional issues and deliver on their vision for a resilient Pacific region of peace, harmony, security, social inclusion, and prosperity."
"We may be small island countries but we are a force to be reckoned with."
Addressing attendees at the summit's opening ceremony in the Tongan capital of Nuku'alofa, Pacific Islands Forum (PIF) Secretary-General Baron Waqa of Nauru called for regional unity to tackle common challenges.
"We may be small island countries but we are a force to be reckoned with," he said. "We are at the center of geostrategic interest, we are at the forefront of a battle against climate change and its impacts."
Speaking at Monday's opening session, United Nations Secretary-General António Guterres lamented that "humanity is treating the sea like a sewer. Plastic pollution is choking sea life. Greenhouse gases are causing ocean heating, acidification, and a dramatic and accelerating rise in sea levels."
Guterres—who warned in Samoa last week that low-lying island nations face the threat of climate "annihilation"—said that "Pacific islands are showing the way to protect our climate, our planet, and our ocean: By declaring a climate emergency and pushing for action, and with your declarations on sea-level rise, and aspirations for a just transition to a fossil fuel-free Pacific. But, the region urgently needs substantial finance, capacities, and technology to speed up the transition and to invest in adaptation and resilience."
"The young people of the Pacific have taken the climate crisis all the way to the International Court of Justice," Guterres added. "You have also rightly recognized that this is a security crisis—and taken steps to manage those risks together."
Mahoney Mori, who chairs the Pacific Youth Council and is the PIFLM53 youth representative from the Federated States of Micronesia, called out the international community's failure to adequately fund climate mitigation initiatives like the loss and damage fund—which developing nations say will require an annual investment of at least $400 billion, or nearly 10 times the amount pledged at last year's United Nations Climate Change Conference in Dubai.
"Despite the commendable pledges from the United Nations and world leaders such as the Paris agreement, the existing global finance mechanisms still hindered community-based and youth organizations from accessing critical support," Mori said. "The Pacific's grassroots organizations struggle to meet global standards amidst this crisis and time is running out."
As leaders met for PIFLM53 amid torrential rains, a 6.9-magnitude earthquake rocked Tonga's main island of Tongatapu. While there was no damage reported and no tsunami warning issued, summit attendees said the temblor underscored vulnerabilities faced by low-lying island nations.
Leaders and activists from Pacific island nations took aim at regional giant Australia—which has been perennially ranked as one of the world's worst climate-wreckers in U.N.-backed Sustainable Development reports—for insufficient climate action.
"We recognize Australia's desire to present itself as a climate leader and co-host the COP alongside the Pacific," Pacific Islands Climate Action Network regional director Rufino Varea said in a statement, referring to Australia's bid to help lead the 2026 United Nations Climate Change Conference, or COP31.
"However, true leadership must not merely be aspirational; it must be actionable," Varea continued. "To date, Australia has expanded gas production instead of aligning its practices with the urgent needs of the Pacific. This does not reflect the leadership we need."
"If Australia is to demonstrate genuine commitment, it must align its domestic and international climate policies with our goals and advocate earnestly for a fossil fuel-free Pacific," he stressed. "It must also commit to ambitious climate actions, ensure effective climate finance is delivered to Pacific island countries, and contribute substantially to the loss and damage fund."
"If these steps are not taken, we risk witnessing a COP that concedes failure—declaring that critical targets were missed, and that Pacific communities continue to be exploited as mere labor resources for the enrichment of others," Varea added.
Keep ReadingShow Less
In Samoa, UN Chief Says Low-Lying Island Nations Face 'Annihilation' by Climate Chaos
"We need all countries to honor their promises on climate finance and a strong finance outcome from this year's COP where we will discuss the financial commitments after 2025."
Aug 22, 2024
United Nations Secretary-General António Guterres warned in Samoa on Thursday that low-lying Pacific island nations face the threat of "annihilation" from rising sea levels, cyclones, ocean heatwaves, and other dangers driven by human-caused climate chaos.
"High and rising sea levels pose an enormous threat to Samoa, to the Pacific, and to other small island developing states. These challenges demand resolute international action," Guterres said. "Sea levels are rising even faster than the global average, posing an existential threat to millions of Pacific Islanders."
"If we are not able to stop what is happening with climate change, this problem that we see in Samoa will not stay in Samoa."
Recalling the 2009 earthquake and tsunami that killed at least 192 people and devastated Samoa, Guterres said that "we have seen people that moved their houses inland, we have seen people that persisted coming back and rebuilding, we have seen an enormous determination of people to fight against, not only the impact of the tsunami, but the impacts of the rising sea levels and of the storms and the cyclones."
"I've seen a wall that is protecting a village from the sea; that wall in 20 years, because of the tsunami—because of the rising sea level, and because of the heavy storms—has already been built three times," he continued.
"People are suffering. Economies are being shattered. And entire territories face annihilation," Guterres stressed.
Guterres said Samoans' ambitious plans to tackle the "existential threat for millions" are being impeded by a lack of promised funding from rich nations. He pointed to the Loss and Damage Fund, agreed to in 2022 at the U.N. Climate Change Conference (COP27) in Egypt, as well as rich countries' 2021 pledge to double climate adaptation funding to $200 billion.
"We are fighting hard for climate justice," said Guterres, but "we are not seeing the money that is needed and that's why we ask for the reform and the international financial institutions in order for the funding needs of countries, like Pacific countries, to be met."
"We need all countries to honor their promises on climate finance and a strong finance outcome from this year's COP where we will discuss the financial commitments after 2025," he added.
COP29—which has been criticized by green groups for being chaired by a former oil executive—is set to take place in Baku, Azerbaijan in November.
Low-lying Pacific island nations are among the least responsible for the climate emergency but are among the most adversely affected by the crisis. To help address this, Guterres reiterated his call for small island nations like Samoa to have access to $80 billion in development from special drawing rights (SDRs), which are reserve assets controlled by the International Monetary Fund that can be exchanged for cash. Rich countries can also place SDRs in a fund for developing nations' use.
The secretary-general also said that new income streams are key to the survival of nations like Samoa whose tourism industries were devastated by the Covid-19 pandemic and which "have not received the support of the international community."
"If we are not able to stop what is happening with climate change, this problem that we see in Samoa will not stay in Samoa," Guterres warned. "It will be happening more and more everywhere in all coastal areas, from New York to Shanghai, from Lagos to Bangkok."
Keep ReadingShow Less
'This Is a Disaster': Bonn Climate Conference Ends Without Financing Progress
"Developed countries are not even offering crumbs from the table and are blocking all progress," lamented one campaigner.
Jun 13, 2024
As the clock ticks down toward this November's COP29 climate summit in Azerbaijan, the Bonn Climate Change Conference in Germany ended in a stalemate Thursday as nations were unable to agree on the size and scope of loss and damage financing and other issues.
This week's talks in Bonn yielded no significant progress on climate financing as the industrialized nations that are most responsible for the planetary emergency continued to try and shirk what Global South countries say is their responsibility to compensate those who suffer most but have emitted the least greenhouse gases.
"Developing countries need trillions in new public finance for adaptation, loss and damage, and for a just transition away from fossil fuels. But developed countries are not even offering crumbs from the table and are blocking all progress," said Friends of the Earth climate justice and energy campaigner Sara Shaw.
Loss and damage refers to funding meant to compensate developing nations for the destruction caused by the fossil fuel-driven climate crisis the world's poor played little role in creating.
"They want developing countries to accept loans which will further fuel debt, and are pushing already discredited carbon market finance schemes, which causes grave harm in the Global South," Shaw added. "This is a disaster."
Crux of #SB60 #climate finance discussions in Bonn highlighted in my take at the recent @CANIntl press conference.
Thank you @LossandDamage for capturing it.@fossiltreaty #ClimateJustice #ClimateEmergency pic.twitter.com/ynVV2R4g5N
— Harjeet Singh (@harjeet11) June 11, 2024
Referring to the upcoming U.N. Climate Change Conference, the World Wide Fund for Nature (WWF) said Thursday that the Bonn stalemate is "undermining the momentum needed to ensure strong outcomes at COP29, to be held in Baku, Azerbaijan in November."
"Discussions on climate finance lacked the urgency required for one of the most critical decisions to be finalized at COP29," WWF said of the Bonn conference. "A new funding goal for the period 2025 to 2035 is set to be agreed, in line with the terms of the Paris agreement."
"But developed countries have not yet given clear indication what they are considering contributing to developing countries for climate action, nor where the money will come from," the group added. "Concurrently, calls for urgently needed funding for adaptation, mitigation, and loss and damage remain unfulfilled."
Greenpeace International climate politics expert Tracy Carty said in a statement Thursday that "rich developed countries talked at length about what they can't commit to and who else should pay, but failed to assure developing nations on their intent to significantly scale up financial support."
"Damning silence on what finance might be offered is stymying efforts to raise ambition and is a dereliction of duty to people battling climate-fueled storms, fires, and droughts," Carty added.
"Rich countries most responsible for this crisis must pay up for a fair fossil fuel phaseout and climate damages, without worsening unjust debts."
Developing nations have said they need around $400 billion annually for a loss and damage fund that they could tap to rebuild communities, restore crucial wildlife habitats, or relocate people displaced by the climate emergency. The United States has committed to a paltry $17.5 million for the global loss and damage fund. Developed nations have pledged approximately $661 million for loss and damage funding to date, according to the U.N. Development Program.
Laurie van der Burg, international public finance lead at Oil Change International, asserted that "the rich countries most responsible for this crisis must pay up for a fair fossil fuel phaseout and climate damages, without worsening unjust debts."
"We know they have more than enough money," van der Burg added. "It's just going to the wrong things."
Keep ReadingShow Less
Most US Voters Agree: Make Big Oil Pay for Climate Damage
"Voters resoundingly endorse fossil fuel companies contributing their fair share to address a crisis they helped manufacture and still refuse to help fix," said one campaigner.
Dec 12, 2023
As yet another United Nations Climate Change Conference winds down without a meaningful agreement on phasing out fossil fuels, polling released Tuesday by Data for Progress revealed strong bipartisan support among U.S. voters for legislation forcing oil and gas companies to pay for their role in fueling the planetary emergency.
The survey of 1,279 U.S. voters, conducted November 3-6, found that around two-thirds of all likely voters support such legislation, a +40-point net margin. Among Democrats, support for the proposed bill is 88%, while 61% of Independent and 46% of Republicans either strongly or somewhat back the proposal.
"In a resounding call for accountability, two-thirds of the American people support legislation demanding industry titans like Exxon and Shell shoulder their fair share of the climate damages inflicted by fossil fuels."
Asked if they were more or less likely to support elected officials who prioritize making Big Oil pay for its climate pollution, 64% of overall respondents, 89% of Democrats, and 58% of Independents answered "more likely." Republicans were the only group whose members were less likely to back officials who would make oil and gas companies pay for their pollution.
"In a resounding call for accountability, two-thirds of the American people support legislation demanding industry titans like Exxon and Shell shoulder their fair share of the climate damages inflicted by fossil fuels," Fossil Free Media communications director Cassidy DiPaola said in a statement.
"With COP spotlighting the towering price tag of climate change, voters resoundingly endorse fossil fuel companies contributing their fair share to address a crisis they helped manufacture and still refuse to help fix," she added, referencing the U.N. summit.
The poll follows the September launch of the "Make Polluters Pay" campaign, a public relations blitz meant to drum up public support for suing fossil fuel corporations—which knew that their products caused climate change decades before publicly saying so.
That month, California joined dozens of states and municipalities that have targeted fossil fuel giants in court, suing five fossil fuel giants—ExxonMobil, Shell, BP, ConocoPhillips, and Chevron—over their decadeslong effort to deceive the public about their products' role in fueling global heating.
The new survey's findings also came as so-called "loss and damage"—the harm caused by anthropogenic climate change—features prominently at COP28. However, climate campaigners were once again disappointed as the United States and other top polluters failed to make meaningful contributions to the fund.
The rich nations most responsible for the climate catastrophe pledged just $700 million between them, the equivalent of under 0.2% of the irreversible losses Global South countries suffer each year during the worsening planetary crisis. The United States pledged a paltry $17.5 million.
"Every year, we travel across oceans to come to these negotiations and we continue to get only drops of ambition," Drue Slatter, a Fijian climate campaigner attending COP28, wrote in an opinion piece published Tuesday by Common Dreams.
"Facing the catastrophic effects of extreme weather at home and watching the slow progress of the negotiations, it was hard not to be pessimistic before we even arrived at COP28," Slatter added. "But the point is that we can't afford not to be here, we can't afford to stop fighting because what's at stake is our very survival."
Keep ReadingShow Less
How Big Carbon Can--And Must--Pay For Its Climate Damage
Jun 03, 2015
I was traveling through a typically crowded street in Jakarta on the back of a motorbike recently, breathing the usual noxious stench of exhaust fumes, when I was struck by a powerful realization about the climate crisis. Many of the people around me were two, three, or more to a bike. So many faces were covered with masks to protect against life-threatening pollution. The fossil fuel industry has the world fooled, I couldn't help but think--billions are addicted to its products with nowhere else to turn.
One of the most incredible and outrageous things about the so-called "issue" of human-caused climate change is the mountain of credible evidence showing a decades-long, highly strategic effort by fossil fuel companies to prevent climate action.
ExxonMobil, for example, generated $32.5 billion in revenue in 2014 by extracting and selling oil and gas, and recently made clear that it intends to continue doing so without limit, explaining that serious emissions cuts from the world's governments are "highly unlikely." Dirty energy giants like Exxon and Koch Industries have spent millions funding conservative think tanks and their climate denial campaigns, and they've had a considerable impact--especially in the United States, where 72 percent of Senate Republicans don't "believe" in the science.
There's the fossil-funded deceit, and then there's the lobbying. Shell successfully pushed to weaken European renewable energy targets in 2014, for example, while the coal lobby in Australia has undermined climate policy for many years. In 2008, the year Barack Obama took office in the US, oil and gas companies spent a combined $135 million lobbying in Washington DC; in 2014, it was $141 million. Revealingly, their lobbying peaked around $175 million in 2009, the year of the failed climate agreement in Copenhagen.
Even with the 0.8@ Celsius of global warming that we have experienced so far, extreme weather events and other disastrous climate impacts are becoming the norm. The world's poorest and most vulnerable are paying with their lives and their livelihoods--from sea-level rise in the Pacific Islands to the immense devastation wrought by Typhoon Haiyan (Yolanda) in the Philippines. Those creating the problem--the big polluters--continue buying social license and politicians, reaping astronomical profits, and receiving obscene government subsidies to the tune of $10 million per minute.
Who are the Carbon Majors?
In November 2013, a study commissioned by the Climate Justice Programme, which has come to be known as the "Carbon Majors" research, traced fossil fuel production back to the beginning of the Industrial Revolution to identify the biggest carbon criminals. It showed that 90 oil, coal, and gas polluters are responsible for two-thirds of the human-made carbon emissions in our atmosphere today. They include private and public companies, with ExxonMobil and Chevron topping the list, along with state-owned entities such as Russia's Gazprom, and states themselves, such as China. The Carbon Majors research was hailed as "a crucial step forward" by Al Gore, and has been supported by lawyers, environmental and human rights organizations, and scientists around the world.
When Typhoon Haiyan struck in 2013, I was working with friends and colleagues from the Philippines at the UN climate talks in Warsaw. I watched helplessly as they tried to focus on their professional commitments while also attempting to locate missing friends and family members. It was a galvanizing experience, and a catalyst for an effort use the Carbon Majors research to drive a new approach to global climate policy.
The biggest fossil fuel producers have a moral and legal responsibility to pay reparations for the climate damage they have caused, and continue to cause. Recognizing and enshrining that principle could be a game-changer at December's UN climate talks in Paris.
A global fossil fuel extraction levy
The Climate Justice Programme is proposing that the international community agree to place a levy at the point of all fossil fuel extraction, in order to unlock the billions of dollars needed to compensate for the climate damage being experienced by vulnerable nations. Alongside the Heinrich Boll Foundation, we are working to introduce this idea at the UN climate negotiations.
Instead of being passed onto consumers, the costs associated with the levy should be absorbed by the dirty energy giants that have long made extraordinary profits. The money raised should be held in an international fund specifically for the provision of financial support--for responding to an extreme weather event that has caused extensive destruction, for example, or assisting with the relocation of a coastal community subjected to rising seas. Even a minimal levy, of around $5 per ton of extracted carbon, could generate more than $50 billion per year to assist hard-hit developing countries.
Such a mechanism--which already exists in the context of oil spills or nuclear disasters--could be key to resolving the contentious international climate negotiations around "Loss and Damage," a core issue for developing countries. Loss and Damage refers to the irreparable harm caused by global warming that cannot simply be "adapted" to. You can't adapt to losing your family, your land, or your water.
The polluter pays
Our proposal has many advantages. It would provide a new and predictable source of finance for the poorest and most vulnerable communities impacted by global warming; raise the cost of extracting fossil fuels; and ensure that the entities most responsible for climate damage are held to account. And it is consistent with international law, including the principles of "Polluter Pays" and "Do No Harm."
The Carbon Majors levy is not a replacement for other sources of climate finance from rich countries. Rather, it is a new source of finance, and an opportunity to think differently about a major obstacle to tackling climate change.
Some say that the fossil fuel industry is merely meeting popular demand and should not be punished for it, but this is a profoundly misguided argument. With global energy and transportation systems under the control of large corporations, the choices available to consumers are extremely limited, even in the wealthy world. And many people in developing countries simply do not have the luxury of deciding to install solar panels on their home, or to switch to an energy-efficient heating and cooling system, or to purchase an electric car; in many circumstances, they do not have access to public transportation.
To safeguard our climate, we need to phase out fossil fuels by 2050 and switch to 100% renewable energy. In order for that to happen, big oil, coal and gas must accept their responsibility for the transition.
We demand that the biggest polluters do what's right: Pay up!
Keep ReadingShow Less
See More
Most Popular
To inform. To inspire. To ignite change for the common good.
News & Opinion
Trending
Common Dreams, Inc. Founded 1997. Registered 501(c3) Non-Profit
Privacy Policy