The Transitional Committee, responsible for planning the Loss and Damage Fund, has expressed growing concerns regarding the delays and insufficient progress in ensuring its effective delivery at the upcoming COP28.
This apprehension has been echoed by more than 170 organizations from the humanitarian, climate, and development sectors.
Together, they have rallied for improvements within the United Nations Framework Convention on Climate Change (UNFCCC), focusing on four key priorities: access, adequacy, additionality, and accountability.
In this context, several critical issues have emerged as contentious subjects within nations. These issues encompass the placement of the Fund, the sources of financing, the responsibilities for payment, and the beneficiaries of the resources.
The intensifying debate around these matters threatens to compromise the Fund’s central mission, which is to promptly provide resources to vulnerable communities in developing nations struggling to cope with the inevitable impacts of climate change and extreme weather incidents.
During a press briefing, Senator Sherry Rehman, who played a crucial role as the lead G77 negotiator for Loss and Damage at the previous COP27, underscored the urgency and significance of the Fund.
She emphasized how the worsening global crisis places nations, especially small island states, at an increasingly perilous risk.
Senator Rehman argued that financing for Loss and Damage should complement existing humanitarian aid efforts, addressing immediate needs and overarching “polycrises.”
This is especially critical as developing and vulnerable nations, already burdened by unjust debt, struggle to secure the necessary funds for recovery from the growing frequency and severity of climate-induced events.
Nishanie Jayamaha of ICVA reinforced the need for Loss and Damage finance to go beyond humanitarian financing and adequately meet the requirements of communities affected by climate change.
She stressed the importance of a comprehensive approach, stating, “The Loss and Damage Fund must be ambitious and accessible by communities and local responders, taking into account the multiple dimensions of vulnerability and risk across various contexts.”
Harjeet Singh, Head of Global Political Strategy at Climate Action Network International, underlined the urgency of the situation as the world grapples with unprecedented climatic catastrophes.
He stated that further delays or deceptive maneuvers cannot be tolerated. Singh insisted that the communities suffering the brunt of these disasters, through no fault of their own, deserve genuine commitment and action rather than betrayal.
After months of persistent dialogue on the operationalization of the Loss and Damage Fund, it is disheartening to find a regression to square one, according to Harjeet Singh. Developed nations appear to be using a variety of tactics to limit the scope and depth of the new Fund, potentially avoiding their responsibilities in the process.
The collective call from these voices underscores the pressing need to address these issues and ensure the effectiveness of the Loss and Damage Fund at COP28.
