At the COP27 climate talks in 2022, countries finally agreed to set up an international compensation fund for low income countries facing loss and damage due to climate change.
We’re campaigning to make sure that this compensation is paid by the big polluting corporations of the fossil fuel industry who have created and profited from climate catastrophe.
Why are climate reparations needed?
Rich countries in the global north have contributed far more to global warming than those in the global south. As much as 92% of the carbon emissions that are in excess of safe planetary limits come from those rich countries. This includes the UK, which is historically the world’s 5th biggest historic polluter.
Despite this, it is countries in the global south facing the worst impacts of climate change, including hundreds of billions of dollars’ worth of economic damage each year (predicted to rise to over $1 trillion a year by 2050). This is a clear injustice.
In response, social movements and governments from across the global south have, for decades, called on rich countries to compensate them for those damages. At COP27, these demands were finally met with the agreement to set up a loss and damage fund.
Why should fossil fuel corporations pay and what do they owe?
For over one hundred years, fossil fuel corporations have driven climate change by profiting from the burning of coal, oil and gas. The Big 5 fossil fuel companies (Chevron, ExxonMobil, BP, Shell and TotalEnergies) have played a particularly big role in this, contributing to over 11% of global historic carbon emissions between them. Collectively, they could owe as much as $8 trillion in climate damage to the global south.
We are calling on the UK government to tax big polluters to fund climate compensation for the global south.
Read more on our campaign and research at the links below.
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We need urgent action on climate justice. With your support we can keep up the pressure and make real lasting change.
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