Demand for finance to pay for the aftermath of climate impacts is rocketing – but progress on getting a new UN loss and damage fund up and running is slow
The UN agencies that will run the Santiago Network recommended it should be based in Nairobi but governments have instead chosen the world’s third-most expensive city
The industry and governments’ maritime ministries want a proposed levy on emissions spent on cleaning up shipping, not used for wider climate goals like loss and damage
Farmers need crop irrigation to help beat drought – but it’s unclear if that would qualify for new loss and damage funding
Without proper interventions anchored on the latest and best available science, even more people would be vulnerable to disastrous impacts of tremendous economic and non-economic costs.
Their failure to agree risks delaying help for victims of climate disasters in developing countries
The taskforce, set to be launched at Cop28, will consider the feasibility of levies on shipping, aviation, financial transactions and fossil fuels.
Developing countries made key concession to land a draft deal on funding for climate victims, subject to political signoff at Cop28
At the Global Partnership for Education, we paid a high price to be hosted by the World Bank. A loss and damage fund should be independent
Developing countries are outraged by a proposal to host a climate loss and damage fund at the World Bank, painting it as a US power grab
On the sidelines of the UN general assembly, rich and poor countries were divided on how to deliver funds to victims of the climate crisis
The US wants extra seats for major donors to the fund on top of developed country representation, sparking accusations of “double counting”
The 2030 target is one of several contentious proposals at negotiations in the Dominican Republic this week over a new loss and damage fund
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Experts said that the term “climate reparations” implies liability, whereas the loss and damage fund will be filled on a voluntary basis
It’s often hard to judge whether a drought is weather-related or climate related and whether people are displaced by the drought or conflicts
A multi-billion dollar reparations scheme has been proposed for fossil fuel companies to atone for the damage caused by their greenhouse gas emissions
Negotiators have added an extra meeting to try and get talks finished by Cop28 – but splits over who pays and who receives funds remain
The first talks on how to set up a loss and damage fund were held this week. In the meantime, disaster-torn countries like Malawi appeal for urgent support.
Cop27 resulted in the historic decision of setting up a loss and damage fund to help vulnerable countries, but success depends on a few key actions.