The U.S. government agreed to pay “climate reparations.”
But the plight of our own countrymen seems to be less important than those in other countries affected by climate change. The United States has just agreed to pay up to a billion dollars to poor countries for “climate reparations.” As per an opinion piece in the Wall Street Journal:
The use of climate policy to soak Americans keeps getting worse, and the United Nation’s climate conference in Egypt ended this weekend with agreement on a new fund to pay reparations to poor countries. Welcome to the latest climate shakedown.
The 2015 Paris accord suggested rich countries compensate poor countries for climate damage—the rationale being that industrialization has increased temperatures and led to natural disasters. Poor countries finally forced discussion of a formal mechanism to pay climate reparations onto this year’s U.N. conference agenda.
…on Thursday Europe abandoned the U.S. by proposing a deal, and Mr. Kerry rolled over.
Wealthy countries will now set up a fund to cover climate damage for the least developed countries—i.e., not China or middle-income nations. This will be financed from “a broad donor base” and “mosaic of solutions,” such as international development banks and taxes on aviation, shipping and fossil fuels.
Some reports suggest that the US will be on the hook for up to a billion dollars. In October, it was reported that the total amount due would be $4.3 trillion.
That’s the sum the US and other major carbon polluters will face at the COP27 climate summit in Egypt next month.