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The United States and Europe are still reluctant to the idea of a compensation mechanism for poor countries, hit by climate change when they pollute less than rich countries.
They are not polluting nearly as much as rich countries, and yet developing countries are paying a heavy price for global warming. Hit by floods, drought and rising waters, they have long been asking for financial assistance to reduce their greenhouse gas emissions and adapt to climate change. For the first time, COP 27, open since Sunday November 6 in Egypt, agrees to put the subject on the negotiating table.
The rich countries had pledged to pay 100 billion dollars a year to the poor countries from 2020. But this aid has never exceeded 83 billion. What create a relationship of mistrust between the North and the South. The United States and Europe are still reluctant to the idea of a compensation mechanism for developing countries, mainly for fear of exposing themselves to colossal financial demands.
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