[4][5][2] "The idea behind calls for loss and damage funding is that the countries that have done most to pollute the atmosphere, and grown rich doing so, should compensate," according to The New Republic.
This exacts that the counties who have disproportionately created the environmental crisis must do more to compensate for the damages that has been caused, including respecting vulnerable countries.
Acceptance of responsibility, followed by undertakings that address the repair of injustices to society and widespread harm are key principles of reparatory justice.
"[12] At COP27, climate reparations, in the form of loss and damage funding for developing nations, are "top of the agenda", according to the World Economic Forum.
[20] A 2023 study published in One Earth estimated that the top 21 fossil fuel companies will owe cumulative climate reparations of $5.4 trillion over the period 2025–2050.
[5] Another approach would be lawsuits against corporations responsible for carbon emissions or damage to climate, in which courts would determine the funding to be distributed to affected parties.
[26] The ambiguity surrounding the scope of remedial obligations, along with the potential for demands of comprehensive reparation schemes, has effectively prevented industrialized nations from openly acknowledging their responsibility.
[29] Fridays for Future strikes “for climate reparations and justice" took place in about 450 locations in September 2022, including Berlin, Kinshasa, Bengalauru, India, New Zealand, and Japan.
[33] An opinion piece in the Bulletin of the Atomic Scientists suggests that "rather than on locking down borders as a response to climate migration,' it is important to acknowledge "climate displacement as something driven by our fossil-fueled way of life in the Global North," and "focus on the question of responsibility and reparations, in a moral, legal, and financial framework under international law.
"[23] The CARICOM Reparations Commission is more blunt: "Either we allow climate migrants to move in, or we compensate these refugees financially for the damages caused by our greenhouse gas emissions.