US, EU top carbon polluters, must pay 54% of climate action costs: Report

The report examines data on historical carbon emissions to calculate the 'fair share' of responsibility for climate financing

A new report by more than 100 civil society organisations holds the United States and the 27-country bloc European Union responsible for 54% of the cost of climate change adaptation and mitigation.

Highlighting the issue of equity, the report holds the US and the EU responsible for the larger part of historical emissions.

The world is already over 1.1 deg C warmer than the pre-industrial era and if the current trends continue, average global temperatures can be expected to rise by 3.4-3.9 deg C by the turn of this century, according to the United Nations