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Article

19 Jan 2015

Author:
Heinrich Böll Foundation

Polluters Pay! Carbon Majors Funding Loss and Damage

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Fossil fuel producers (the "Carbon Majors") should pay for the loss and damage their product is causing on poor communities via a levy to the International Mechanism for Loss and Damage...Billions of people in poor communities are innocent victims in the climate change equation. They pollute the least, yet they are already suffering from loss and damage...through impacts such as...drought and changing rainfall patterns...[, and] sea-level rise and coastal erosion...It is expected that loss and damage from climate change will increase dramatically in the poorest parts of the world...63 percent of global carbon emissions can be traced back to the 90 biggest oil, gas and coal producers, and cement manufacturers...These...include Chevron, ExxonMobil, Saudi Aramco, BP, Gazprom, and Shell...This approach is based on the "no harm" principle in international law and the principles of transboundary harm...

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Saudi Aramco urged by NGOs to pay levy to the International Loss and Damage Mechanism for climate impacts

NGOs call on “Carbon Majors” to pay levy to the International Mechanism for Loss and Damage