© Getty Images

Climate change and extreme weather -

Indeed, 2024 saw a significant number of extreme weather events. In various climate vulnerable countries, floods, heat waves, and storms have caused devastating destruction.

© Getty Images

The case of Pakistan -

One country that receives little attention for being climate vulnerable is Pakistan. Yet in recent years, Pakistan has faced a huge amount of climate-related damage.

© Getty Images

Recent flooding -

In 2022, for example, the country was hit with unprecedented monsoon rains that claimed the lives of more than 1,500 people and caused economic damages exceeding US$30 billion.

© Getty Images

Looking ahead -

The link between greenhouse gas emissions and extreme weather events is well established, and, at the going rate, things are only going to get worse.

© Getty Images

The big question -

Given that the countries most affected by climate change are generally not those most responsible for emissions, many people are beginning to wonder whether the world’s biggest polluters should be expected to pay for the damage they have caused.

© Getty Images

Geopolitical issue -

Indeed, the topic of who should foot the bill for climate damages and losses is becoming a major issue, and it will be continued to be discussed during international governmental meetings to come.

© Getty Images

Different options -

If geopolitical leaders make a decision to hold the world’s polluters to account and make them pay for the damage they’ve caused, this could be done on many levels.

© Getty Images

Charge governments -

The first, and perhaps most obvious move, would be to charge the governments of the countries that are responsible for the most emissions.

© Getty Images

The US -

According to a 2024 study from Dartmouth College, the US is the largest historical emitter, costing the world more than US$1.9 trillion in climate damages between 1990 and 2014.

© Getty Images

Other countries -

Rounding out the top five countries responsible for causing the most damage are China, Russia, India, and Brazil, which collectively cost the world US$4.1 trillion over the same period.

© Getty Images

Government fund -

Various climate vulnerable countries have called for the United Nations to set up a loss and damage finance facility under its Framework Convention on Climate Change (UNFCCC).

© Getty Images

The concept -

The idea is that the biggest polluter countries would pay into the fund in line with their fair share, which would be calculated based on their historical and ongoing emissions.

© Getty Images

Resistance -

Unsurprisingly, the countries that would be required to pay into such a fund have strongly resisted proposals for its setup.

© Getty Images

Not off the table -

That is not to say that the option is completely out of the question, however. Certainly, having the UNFCCC run the fund would help ensure its accountability and transparency.

© Getty Images

Charging fossil fuel companies -

Another option would be to hold fossil fuel companies to account for their contributions to global greenhouse gas emissions.

© Getty Images

Statistics -

Indeed, according to a 2017 report from the CDP, there are just 100 fossil fuel companies that have collectively been responsible for 71% of global emissions since 1988.

© Getty Images

Polluters-pay climate fund -

One way to make these companies accountable would be to force them to contribute to a polluters-pay climate fund.

© Getty Images

The costs of recovery -

The money collected by the fund could be used to help climate vulnerable countries get back on their feet after a natural disaster and absorb the costs of transitioning to clean energy.

© Getty Images

Tax on fossil fuel extraction -

Another way to force fossil fuel companies to make good on their debts would be to introduce an international tax on fossil fuel extraction.

© Getty Images

Billions of dollars -

This solution has been proposed by a coalition of climate vulnerable countries, who suggest that such a tax could raise billions of dollars to help countries rebuild after extreme weather disasters.

© Getty Images

Tax on profits -

Already, some governments are looking into introducing a tax on the windfall profits of fossil fuel companies that are benefiting from high energy prices.

© Getty Images

Recovery costs -

The idea is that some of the revenue generated by that tax could be put towards helping countries recover after extreme weather events, such as droughts and floods.

© Getty Images

Caveat -

The problem with this solution in the long run is that windfall taxes on fossil fuel companies are only ever expected to be temporary.

© Getty Images

Other sources needed -

Moreover, when you consider that many governments have committed to phasing out fossil fuels anyway, it seems clear other sources of money will be needed to pay for climate damages.

© Getty Images

Taxing certain industries -

Another option could be to tax industries that use a lot of fossil fuels, such as aviation and bunker shipping.

© Getty Images

Taxing certain behaviors -

By extension, it may even be possible to tax individuals who engage in high-emission behaviors, such as flying and eating red meat.

© Getty Images

Destructive behaviors -

Indeed, the most destructive behaviors are usually associated with the lifestyle of a small proportion of the world’s population who have a high income.

© Getty Images

Statistics -

For example, just 1% of the global population is responsible for 50% of global emissions, yet 90% of people in the world have never boarded a plane.

© Getty Images

Proposed levy -

Some experts have called for an airline travel levy, which would increase with each flight the passenger takes.

© Getty Images

Recouping costs -

In many ways, this would be a fair and sustainable way to recoup some of the funds needed to help climate vulnerable countries pay the damages caused by other countries’ pollution. 

Sources: (BBC) (CDP)

See also: Cities that will be least impacted by climate change

© Getty Images