COP26 touted to resolve long standing issues on climate debt - Only 16% of losses in South Africa from weather-related disasters in the past four decades were covered by insurers, leaving governments and communities unable to build back
, signed at COP19 in the Polish capital, sought to deal with compensation from those responsible for damage from extreme weather, according to the Grantham Institute, Imperial College London’s climate change and environment hub.
South Africa, currently the 12th highest emitter of carbon dioxide in the world, might find itself liable for a share of the climate debt owed to the continent, although Brandon Abdinor, a climate advocacy lawyer at the Centre for Environmental Rights, believes it will be years before this is resolved.
“These events caused R95-billion in associated economic losses and directly affected about 22-million South Africans,” said the ISS researchers.
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