‘Loss and Damage’ (L&D) is a term used in climate negotiations to describe the unavoidable effects of climate change which has become increasingly evident in recent years, such as severe storms, major wildfires, frequent floods, heatwaves, droughts and so on. This year, at the 26
Prior to the Paris Agreement’s implementation in 2015, rich countries promised in 2009 to channel $100 billion in annual climate funds to developing countries by 2020. However, they fell short of their target, with cash flows in 2019 totalling only roughly $80 million. The deadline for 2020 has been postponed until 2022. Although Article 9 of the Paris Agreement does not set a new climate finance target, developing-country negotiators are urging developed-country negotiators at COP 26 not just to keep their earlier promise but to create a new, greater climate finance target for 2025.
In addition, a deal on the governance provisions for the WIM was not reached at COP25 in 2019. Developing country Parties have argued that the WIM should be operated under both the Convention and the Paris Agreement Developed country parties. But on the other hand, have opposed that the WIM should be administered solely by the Conference of the Meeting of the Parties to the Paris Agreement. At COP26, consensus on governance was also elusive, as the two sides remained obstinate in their respective positions. As a result, it was resolved that at the next COP, negotiations on the governance of the WIM would be restarted.
However, the Glasgow Climate Pact failed to gain the establishment of a dedicated new L&D fund that vulnerable countries had pressed for earlier in the summit, owing to opposition from the United States, the European Union, and some other rich nations. Guinea, speaking on behalf of the developing-country group, voiced “great displeasure” with the decision to start simply a “conversation” to discuss “arrangements for the finance of activities to avert, minimize, and address loss and damage.” Low-lying small island nations such as the Marshall Islands, Fiji, and Antigua & Barbuda, which fear losing most of their land to increasing sea levels, expressed disappointment that the fund they had requested had not been established. The Glasgow agreement does include funding for the Santiago Network, which attempts to develop technical competence in dealing with L&D, such as assisting governments in determining how to relocate settlements away from vulnerable shorelines.
Originally this article was published on January 23, 2022 at Dhaka Tribune.
S M Saify Iqbal is working as a Research Officer at International Centre for Climate Change and Development (ICCCAD). He has research interest in climate-induced loss and damage and disaster risk reduction. He can be reached at [email protected]