By David Wojick, Ph.D. ~
This preposterous claim shows the dangerous absurdity of the “loss and damage” doctrine. At this rate of damage the global total would run around TWO HUNDRED TRILLION DOLLARS A YEAR. There is not that much money in the whole world.
The $800 billion a year is from a report presented by Colombia at COP27. The mainstream green press either did not notice or decided to ignore it, lest it raise issues best left alone until the proposed UN Loss and Damage Facility is created.
Look at it this way. Colombia is a relatively small country with a GDP of around $300 billion a year, about the 40th largest in the world and just 0.4% of the global total. Its “loss and damage” claim is roughly 2.5 times its GDP, so let’s assume that ratio globally.
World GDP is about $81 trillion, which multiplied by 2.5…
November 17, 2022 at 05:23AM