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HomeEnvironmentAnalysis: COP27 loss and damage fund heralds 'new dawn for climate justice'

Analysis: COP27 loss and damage fund heralds ‘new dawn for climate justice’

  • Developing countries win financial battles for hard-hit people
  • Rich country finally bows to pressure, funding details revealed
  • No agreement on phasing out fossil fuels as producers stay strong

SHARM EL SHEIKH, EGYPT, Nov. 20 (Thomson Reuters Foundation) – The COP27 climate negotiations agreed to establish a ‘loss and damage’ fund to help poor communities on the frontlines of global warming. Officials and campaigners who pushed for its creation, a milestone in a long struggle, said.

Two weeks of talks in the Egyptian resort of Sharm el-Sheikh have been hampered by global geopolitical tensions, but fragile nations are facing the growing cost of climate damage from stormy weather and climate change. The deal ended early Sunday with an agreement to set up a new fund to help pay for the Sea.

Details on how it will operate and where it will be funded will be worked out by the commission over the next year.

A group of 134 states and small island nations in Africa, Asia and Latin America have put forward a united front to push forward with the controversial fund, especially in flood-hit Pakistan.

The head of Greenpeace Southeast Asia, Yev Sagno, said the endorsement of the fund “represents a new dawn for climate justice.”

As chief negotiator for the Philippines at the 2013 Warsaw COP, he helped secure the first formal United Nations body on loss and damage after Typhoon Haiyan hit the country.

“The government has laid the groundwork for a long-awaited new fund to provide essential support to vulnerable countries and communities already devastated by the accelerating climate crisis,” he said. It was called “The Victory of People’s Power”.

The Alliance of Small Island States (AOSIS) said that since the loss and damage issue was first raised, members of the Pacific and Caribbean States had “exhausted all efforts” to obtain the funds they had pursued for 30 years at COP27. I said. In climate negotiations by Vanuatu.

Morwyn Joseph, Minister of Health and Environment of Antigua and Barbuda, chaired AOSIS and said, “Today, the international community has restored global confidence in this important process to ensure that no one is left behind.

“To those who feel ignored, we’ve shown you that we hear you, we see you, and we give you the respect and care you deserve,” he said. said in a statement.

UN Secretary-General Antonio Guterres said the summit “has taken an important step towards justice”.

The reparations fund will not be enough to address rising climate losses, but it is “a much-needed political signal to rebuild broken trust” between rich and poor countries. He said in a video statement.

The “debt” of climate change

Climate advocates widely welcomed the new reparations fund, but noted that many aspects of its governance remain unresolved, and that it was unclear where and how much money would come from. , Some were cautious.

Jean Su, Energy Justice Director of the Center for Biological Diversity, said the US, European governments and other developed countries are stepping up to support the fund “after years of resistance”. rice field.

Their opposition was rooted in fear of financial liability for the impact of historically high greenhouse gas emissions.

However, as noted in the final Sharm el-Sheikh Implementation Plan, “losses and damages associated with the adverse effects of climate change will intensify in all regions and increase in extent and frequency.” , the line became more difficult to maintain.

Climate “loss and damage” includes not only damage to people, their homes and infrastructure from disasters such as floods, droughts and storms, but also forced displacement and loss of cultural heritage and communities due to moderate impacts such as sea level rise. It also includes loss of life. Added.

“Coming out of this summit, all attention is on the US and other major polluters paying back their tremendous climate debt to the world,” Su added.

The new fund will differ from other UN-backed climate funds because it will draw from a much broader range of sources, including development banks and innovative sources such as fossil fuels and airline taxes.

Traditional donor governments, including European Union (EU) member states and the United States, have claimed this as a condition for supporting the fund.

As they faced pushback from China and other emerging economies, the thorny question of exactly who would pay the fund was put off for later resolution.

The United States and other countries have insisted that China, the world’s biggest climate polluter since 2006, should be involved in contributing to the fund, but Beijing has rejected this.

missing fossil fuel

Politicians at COP27 called on countries to put aside their geopolitical battles to get climate action back on track.

“In a year of multiple crises and climate shocks, the historic results on loss and damage at COP27 show that even in these trying times, international cooperation is still possible. Independent global leader.

However, she added, “the world is still on the brink of a climate catastrophe.” Especially given that government efforts to step up efforts to reduce greenhouse gas emissions more quickly have lagged behind as global warming needs to stop surpassing the most ambitious 1.5 degrees Celsius. , the goals of the Paris Agreement.

British politician Alok Sharma, who presided over the United Nations climate summit in Glasgow a year ago, said anti-fossil fuel campaigners and others wanted a stronger commitment to secure the 1.5C limit at COP27. He joined the chorus of criticism of the government deal. He said he was “staying on life support.”

He pointed out that it had failed to “take a decisive step” to cut emissions and stay away from oil and gas pollution.

The UK, together with other governments, including the EU, has set a clear path (target set in Glasgow) to reach peak global emissions by 2025 and to phase out coal use and to phase out all fossil fuels, not just coal.

Sharma said all of this was “not in this document” for COP27, adding that the section on energy was also weakened at the last minute.

Sharm el-Sheikh’s plan includes references to promoting “low-emission” energy and renewable energy, including COP27 host country Egypt and the least polluting fossil fuel, gas. expressly agree with the country of origin of

The language supports the plans of many fossil fuel producing countries to use fledgling carbon capture technologies to curb emissions rather than curtail production.

“At this COP, some were negotiating for the future, but oil and gas lobbyists came together to negotiate for their wallets,” said David, global industry campaign manager at advocacy group Oil Change International. Tong said.

“The only way to safely limit warming to 1.5°C is to phase out oil, gas and coal fairly. Instead, we risk a massive surge in new oil and gas production. are exposed to,” he warned.

Many environmental groups have stressed that slow global action to reduce emissions will only increase the need for funds to help those suffering the costs of climate change in the future. did.

Manuel Pruger Vidal, global climate and energy officer at environmental group WWF, who presided over COP20 in Peru, said Egypt had an opportunity to accelerate the rapid and deep emissions reductions that are essential to limit the damage caused by climate change. said the leaders missed.

“The agreed loss and damage deal is a positive step, but unless countries act quickly to reduce emissions and keep warming below 1.5 degrees, the Fund for the End of the World will There is a risk of becoming ,” he warned.

First published location: https://www.context.news/climate-justice/cop27-loss-and-damage-fund-heralds-new-dawn-for-climate-justice

Reporting by Megan Rowling @meganrowling; Editing by Laurie Gehring. The Thomson Reuters Foundation is the charitable foundation of Thomson Reuters. https://www.context.news/ please visit

Our criteria: Thomson Reuters Trust Principles.

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