COP29 Azerbaijan
Climate idea
Climate idea
Edwin wangombe
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Polluters must pay: How COP29 can make this a reality
As the 29th Conference of the Parties (COP29) convenes in Azerbaijan, the focus must be on advancing accountability measures through the "polluter pays" principle to drive substantial reductions in greenhouse gas emissions. This principle, fundamental in environmental policy, requires that entities responsible for pollution bear the financial costs of mitigating their emissions. Unfortunately, while embraced in theory, it has seen inconsistent application, allowing major polluters to evade responsibility for their environmental impact.
Polluters must pay: How COP29 can make this a reality
The 29th Conference of the Parties (COP29) takes place in Azerbaijan in November 2024. The annual climate change conference must focus on holding corporations and countries accountable for greenhouse gas emissions.
https://phys.org/news/2024-10-polluters-pay-cop29-reality.html
For COP29 to effectively integrate the polluter pays principle, the conference must champion enforceable, actionable policies that hold major greenhouse gas emitters accountable. Critical among these policies are ending fossil fuel subsidies, establishing mandatory climate liability mechanisms, and expanding carbon pricing and taxation.
Ending Fossil Fuel Subsidies: Global fossil fuel subsidies reached a staggering $7 trillion in 2022. These subsidies, effectively supporting continued pollution, must be reallocated to renewable energy initiatives and climate adaptation projects. Eliminating these subsidies will incentivize cleaner energy and ensure that fossil fuel companies shoulder a fair share of the financial responsibility for climate damages.
Mandatory Climate Finance Liability Mechanisms: A global liability framework should compel large-scale polluters to finance adaptation and mitigation efforts in climate-vulnerable regions. Inspired by liability schemes in oil spill cases, a fund could be established specifically for climate damages, with contributions from high-emission corporations.
Carbon Pricing and Taxation: Expanding carbon pricing to account for the true societal costs of emissions is vital. By imposing a carbon tax on each ton of emissions, polluters are financially motivated to adopt cleaner technologies, a model that has shown success in countries like Sweden. Additionally, replacing or refining ineffective cap-and-trade systems with direct taxes on emissions will prevent polluters from exploiting these programs without reducing their output.
Legal Accountability for Climate Damage: COP29 can champion the role of international legal bodies, like the International Court of Justice, to adjudicate climate-related cases and award damages. The 2021 Hague District Court ruling, which ordered Royal Dutch Shell to cut emissions by 45% by 2030, sets a precedent that can empower other courts to hold corporations accountable for excessive emissions.
Financial Transparency and Historical Accountability: COP29 should advance stricter disclosure requirements, compelling corporations to report their environmental impact publicly. Additionally, high-emission corporations with a long history of polluting should contribute to a global climate reparations fund, ensuring that their historical emissions are also addressed.
By implementing these measures, COP29 can foster a culture of accountability, ensuring that the burden of addressing climate change does not fall on vulnerable communities least responsible for the crisis. The success of COP29 hinges on governments and corporations embracing justice, equity, and transparency, paving the way for a more sustainable and equitable future.
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Redirecting those funds to renewable energy is a no-brainer that could drive real change
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Dear Edwin wangombe Your climate idea has received over 50 agrees! We have reached out to COP29 Azerbaijan by email and requested a response. I will keep you updated on any progress! To reach more people and increase the chance of a response, click the Share button above to share the review on your social accounts. For every new member that joins We Don't Have Time from your network, we will plant a tree and attribute it to you! /Adam, We Don't Have Time
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By establishing robust policies and regulations, the conference can ensure that polluters bear the financial burden of their actions. This approach can incentivize companies to adopt cleaner practices and contribute to a more sustainable future.