Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
Tebboune: Achieving economic integration must not remain a dream.
Algerian Foreign Minister Ahmed Attaf delivers a speech on behalf of Algerian President Abdelmadjid Tebboune at the Fifth Arab Development, Economic, and Social Summit in Baghdad.
Mustafa: We reaffirm our commitment to work with our brothers and friends around the world for stability and an end to wars.
Palestinian Prime Minister Mohammad Mustafa: We stress the importance of reaching an agreement to implement the initiatives of the Development, Economic, and Social Summit.
Aboul Gheit: The global economy is going through a period of turbulence.
Aboul Gheit: Concrete solutions must be found for the issue of Arab food security in line with the strategy proposed at the Arab Summit in Baghdad.
Aboul Gheit: Arab national security is an integrated whole that cannot be achieved without food, social, cyber, and other forms of security.
Arab League Secretary-General Ahmed Aboul Gheit: We present a comprehensive Arab strategy for food security at the Arab Development Summit.
The closing statement of the Arab Summit: We reaffirm our absolute rejection of the displacement of the Palestinian people and call for the delivery of aid to the Gaza Strip.
The closing statement of the Arab Summit: The goal of the Arab Summit is to unify our efforts and achieve the interests of the peoples of our region.

Rich nations owe poor countries $192 tln for climate crisis: Study

  • By Al Mayadeen English
  • Source: Forbes
  • 6 Jun 2023 00:27
  • 2 Shares
4 Min Read

Countries that release the least emission would receive approximately $6 trillion annually for committing their economies to decarbonizing quicker than required.

  • x
  • A mother pushes a stroller in front of the Scholven coal-fired power station, owned by Uniper, in Gelsenkirchen, Germany, March 28, 2022 (AP)
    A mother pushing a stroller near the Scholven coal-fired power station in Gelsenkirchen, Germany, on March 28, 2022 (AP)

A joint research from the University of Leeds and the University of Barcelona has discovered that wealthy nations owe almost $200 trillion to developing and least developed countries - those bearing the brunt of the climate crisis - as a result of being responsible for excessive levels of carbon dioxide emissions.

Published on Monday in the journal Nature Sustainability, the study drew out the first plan to hold countries liable, requesting a compensation fund of $192 trillion by 2050, as reported by Forbes.

Climate scientists stated that global carbon budgets (which measure how much carbon can be released to achieve a certain climate target) calculate the equal “fair share” of the total carbon budget for 168 countries, based on their population size.

Read next: Climate change could cost Germany about one trillion euros by 2050

When each nation's fair share was calculated, researchers found some countries to be within their allocation, but mainly industrialized countries in the Global North were found already significantly surpassing their allocation.

The Global North, representing the US, Europe, Canada, and Australia, was found responsible for compensating $170 trillion, while the rest of the $192 trillion figure was due from high-emitting countries in the global South like Saudi Arabia and the United Arab Emirates (UAE).

Countries that release the least emission would receive approximately $6 trillion annually for committing to decarbonizing their economies quicker than required, according to the researchers. 

Compensation for an 'unfair burden'

Related News

UN chief condemns rich states 'vicious' tactics against poor ones

The study stated that the US was liable for paying a whopping $80 trillion. 

Other nations have done a better job at maintaining low levels of carbon emissions, such as India, which could be entitled to receive $57 trillion in compensation, as per an estimate in the study.

“It is a matter of climate justice that if we are asking nations to rapidly decarbonize their economies, even though they hold no responsibility for the excess emissions that are destabilizing the climate, then they should be compensated for this unfair burden,” said Andrew Fanning, one of the researchers of the study. 

Referring to a potential solution, the Global Project stated last year that it would take a cut of almost 1.4 billion tons of carbon dioxide each year from global emissions to reach zero emissions by 2050. 

Scientists have been calling for that solution in recent years as society is starting to become more aware of the effects of CO2 emissions. 

During her visit to New York for the United Nations General Assembly (UNGA), Bangladesh PM Sheikh Hasina told AFP, "They don't act. They can talk but they don't act," adding, "The rich countries, the developed countries, this is their responsibility. They should come forward. But we are not getting that much response from them. That is the tragedy. I know the rich countries, they want to become more rich and rich. They don't bother for others."

Even Pakistani Minister for Climate Change Sherry Rehman called on rich nations to compensate for the damage they've caused as part of the climate crisis back in September. 

The biggest nation emitting CO2 is China, which has vowed to reduce emissions to net zero by 2060, followed by the US which has a long-term plan of reaching net zero by 2050.   

Since the US revealed a $370 billion "buy American" subsidy package for tax credits and renewable energy subsidies known as the Inflation Reduction Act (IRA) last year, the manufacturing of green technologies became more necessary.

Read more: Europeans less supportive of climate action if lifestyle changes: Poll

  • least developed countries
  • Climate change
  • US
  • Paris climate agreement

Most Read

Two F-35 jets arrive at it's new operational base Wednesday, Sept. 2, 2015, at Hill Air Force Base, in northern Utah. (AP)

F-35 near-misses over Yemen signal new risks for 'Israel': Forbes

  • Politics
  • 14 May 2025
Palestinians pray over bodies of people killed in the Israeli bombardment who were brought from the Shifa hospital before burying them in a mass grave in the town of Khan Younis, southern Gaza Strip, Wednesday, Nov. 22, 2023. (AP )

Gaza casualty figures mask a much bigger horror, new study shows

  • Politics
  • 11 May 2025
Abu Obaida

Abu Obeida posts shortly after Israeli reports about his assassination

  • Palestine
  • 15 May 2025
Gaza and the logic of necropolitics: Sovereignty measured by killing

Gaza and the logic of necropolitics: Sovereignty measured by killing

  • Politics
  • 15 May 2025

Coverage

All
Gaza prevails against genocide

Read Next

All
A Microsoft sign and logo are pictured at the company's headquarters, Friday, April 4, 2025, in Redmond, Wash. (AP)
Technology

Microsoft admits supplying AI to 'Israel' amid Gaza carnage

Israeli occupation’s tanks parked in a staging area near the border with Gaza, Friday, May 16, 2025. (AP)
Politics

'Israel' launches multi-axis assault in Gaza under 'Gideon’s Chariots'

People stand at the train ticket counter of NJ Transit at Penn Station, amid a strike by New Jersey Transit train engineers, in New York, Friday, May 16, 2025. (AP)
Economy

Commuters stranded amid first New Jersey railway strike in 40 years

Trump's tax bill stalls as Republican opposition demands deeper cuts
US & Canada

Trump's tax bill stalls as Republican opposition demands deeper cuts

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS