COP28 Creates Milestone Legislation On Its First Day
Or is this a thinly veiled smoke screen?
(meant to be published on Dec 4th)
The past year has shown just how devastating even a tiny bit of climate change can be. However, over the next few decades, global warming is set to ramp up dramatically and send the entire world into turmoil. Yet, it won’t be the rich nations who are responsible for this planetary destruction that will pay the price; it will be the poor and developing who are crushed. This catastrophic inequity is a profound moral dilemma the international community has strived to solve for years. Well, on the first day of COP28, a global Loss & Damage Fund was finally set up to address this. But is it enough? Or is this just greenwashing and rose-tinted glasses?
What is the Loss & Damage Fund? The idea is incredibly simple. Developed nations that are overwhelmingly responsible for historical and current emissions will pay into a fund on a regular basis. When vulnerable and developing nations suffer from climate change, such as crop failures, lack of water and infrastructure damage, the fund will send them money to resolve this situation. While this is an ad-hoc approach to the climate crisis, it is a small yet significant set in making climate change more equitable.
