The climate change already being experienced is the result of the emissions that have been released into the atmosphere since the start of the Industrial Revolution. The Carbon Majors report released in November 2013 established that 63 percent of carbon emissions in the atmosphere have come from the coal, oil, and gas extracted and cement manufactured by only 90 entities – the "Carbon Majors", which include Chevron, ExxonMobil, Saudi Aramco, BP, Gazprom, and Shell. These entities have made massive profits while billions of people in poor communities are already suffering from loss and damage caused by climate change.
This discussion paper outlines the case for the Carbon Majors to provide funding via the Warsaw International Mechanism for Loss and Damage for poor communities all over the world.
The second and updated edition of the discsussion paper "Carbon Majors Funding Loss and Damage" is published just in time for the Lima COP.
Table of contents
11 Executive Summary
15 Who and what are the Carbon Majors?
21 What is loss and damage?
27 Legal responsibility for loss and damage
36 How might the UN loss and damage mechanism work?
44 How Carbon Majors could help fund loss and damage
52 Next steps including further areas of research and discussion