Thu, 25 May 2023

Climate Reparations

Why in news? Recently, A new study has found that the world’s top 21 fossil fuel companies owed over US $ 5 trillion in climate reparations, to be disbursed over a 26-year period from 2025 to 2050.


  • Climate reparations refer to a call for money to be paid by the developed countries to the developing countries as a means of addressing the historical contributions that the Developed countries have made (and continue to make) toward climate change.
  • Climate reparations aim to rectify climate injustice by requiring those most responsible for climate change to provide support to those who have been wronged.
  • The companies with the highest reparations: ExxonMobil, Saudi Aramco, and Shell—the companies most often accused of delaying action on climate change.
  • Principles of Climate Reparations:
    • Polluter pays principle (Polluters should be held liable for the costs of remedial action);
    • More responsibility of rich countries (for past historical emissions);
    • Reparations-based approach to climate refugees;
    • Rich countries should provide financial and technological support to developing nations.


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