APMDC Suliyari Coal Upcoming MP MSME auction 1,00,000 MT @SBP INR 2516/- Per MT on 1st July 2024

Notice regarding Bidder Demo of CIL Tranche VII STEEL(Cocking) SUB-SECTOR of NRS Linkage e-Auction scheduled on 11.06.2024 from 4:00 P.M. to 5:00 P.M. in Coaljunction portal

Login Register Contact Us
Welcome to Linkage e-Auctions Welcome to Coal Trading Portal

Coal news and updates

New U.S. message on climate change: Make China pay

07 Nov 2022

 

The U.S. is softening its resistance to paying developing countries for loss and damages suffered from climate change, and it's pointing the finger at China's massive emissions as well.

 

Smoke and steam rise from a coal processing plant in Hejin in central China's Shanxi Province in 2019. | Sam McNeil/AP Photo

The U.S. is suddenly open to making rich nations pay reparations to countries suffering the ravages of climate change — but only if China ponies up, too.

The about-face comes after years of Washington serving as the bulwark of wealthy countries’ resistance to making such payments, and would set up China as the new climate bogeyman. It would also challenge Beijing’s assertion that China should still be seen as a developing nation.

Paying developing nations that suffer from climate-driven disasters and rising temperatures is one of the most contentious issues in global climate negotiations, which resume this weekend at a major conference in Sharm El-Sheikh, Egypt.

China should contribute its own funds to the cause, U.S. Special Envoy John Kerry told reporters late last month, “especially if they think they’re going to continue to go on to the next 30 years with increasing their emissions.”

 

The issue, referred to as “loss and damage” in the parlance of the global talks, calls for the U.S. and Europe’s industrialized nations to send funding to less-developed countries that have suffered from floods, heatwaves, droughts, rising seas and other disasters worsened by the changing climate. Those nations have contributed little to the crisis — in contrast to the United States, wich during the past two centuries has pumped more greenhouse gases into the atmosphere than any other country.

The U.S. is now the world’s second-largest current climate polluter. China ranks as No. 1, with carbon emissions more than double those of the U.S.

After years of obstruction on the issue, a successful U.S. rehabilitation of its reputation on the issue won’t be easy. Carbon dioxide builds up in the atmosphere for centuries, meaning historical emissions accurately reflect the blame for extreme weather events today. According to data from 2019, the U.S., EU and U.K. are together responsible for more than half of the excess CO2 in the atmosphere. China’s contribution was 12.7 percent and growing. U.S. and European greenhouse gas emissions are trending lower, while China has pledged only that its emissions will cease rising by the end of the decade.

Vulnerable countries and the Egyptian hosts of the 13-day U.N. climate conference have made access to climate compensation a central theme of the two-week gathering.