The historic loss and damage fund
The 2022 UN climate change conference (COP27) will be remembered in history for agreeing a fund for loss and damage but, for many, it was unexpected.
More than three decades have passed since the Alliance of Small Island States (AOSIS) first called for the creation of an international finance mechanism ‘to compensate the most vulnerable small island and low-lying coastal developing countries for loss and damage arising from sea level rise’. This request went unheeded, as did the call at COP26 in 2021 from the Group of 77 (G77) plus China, to establish a loss and damage ‘financing facility’.
Opposition towards a facility, or fund, continued after COP26.… Seguir leyendo »