At COP29, African Authorities demand that Wealthy Nations Foot the bill for Environmental Harm

The focus of COP29 in Baku is financing, with many wanting to come to a deal that will release trillions of dollars to assist underdeveloped countries in addressing the effects of climate change. According to the UN, the African continent is becoming increasingly threatened by changing precipitation patterns, rising sea levels, and more extreme weather patterns.

African leaders at the conference are urging the most polluting countries, the wealthy, to make amends for their environmental damage.

The CEO, Barirega Akankwasah, states that “the person who pollutes should bear the cost of cleaning up the environment, the cost of mitigation, and the cost of adaptation in that proportion because people have made the money to pollute.

You gain from environmental management principles and the cost of good design since you pollute through production. “The entire production cost, including the environmental cost, must be integrated into the services,” he continued.

The agreement should “have fully operational loss and damage fund with clear criteria on how much and who contributes and the criteria for access and disbursement of these funds,” according to Akankwasah, who hopes that any agreement reached at this year’s COP will explicitly outline finance plans for a damage fund.

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