Roman Babakin / Shutterstock Geneva, Switzerland, has been selected as the host of the headquarters of the secretariat of the Santiago network for averting, minimizing and addressing loss and damage. The decision was made by the Advisory Board of the Santiago network, which held its first meeting from 18 to 20 March, in Geneva. The formation of the Advisory Board …
Exciting news! The Loss and Damage Fund now boasts its dedicated UNFCCC webpage categorized under “Funds and financial entities” As the eagerly anticipated inaugural Board meeting approaches (scheduled no later than January 31st), this webpage will serve as the primary source for all forthcoming updates. Explore the webpage here. Present announcements feature an invitation to Parties to submit nominations of …
The Loss and Damage Fund (LDF) historically won by the Global South is under attack! In the latest LDF Transitional Committee meetings, the United States is pushing to have the LDF as a Financial Intermediary Fund (FIF) under the auspices of the World Bank (WB), rather than making it an independent and democratically-accessible fund under the guidance of the COP. …
At this point, the UN fund is “an empty bucket.” How full could it get? Last year, Pakistan was hit with floods so devastating that they were hard to comprehend. In some areas, 15 inches of rain fell in a single day. And the rain went on for months, inundating one-third of the country, spreading disease, and displacing nearly 8 million people. …
Experts debate a watershed moment that could see the world’s highest court adjudicate a climate change case for the first time The Commonwealth Foundation convened leading experts on climate law and finance to discuss how small island nations are using legal action to achieve compensation for climate-induced harm. Tuesday, 25 October – International climate lawyers, the Climate Action Champion for COP27 and …
The UN climate talks COP27, which closed in Egypt on Saturday, started addressing the symptoms of the climate crisis in a breakthrough decision for the most vulnerable. A historic progress was made with a commitment to set up a financial support structure for the most vulnerable to deal with “loss and damage” caused by the impact of the climate crisis …
“From the multilateral funds, around $650 million has been so far committed to Bangladesh for climate adaptation. And in the last 10 years or so, we have received less than $200 million of that, which is paltry compared to $2 billion people in Bangladesh spend per year to cope with the impacts of natural disasters.” News Source: The Business Standard
Regarding the position the Canadian government will adopt on the question of finance for loss and damage Kaitlin Power, press secretary to Environment Minister, said Canada “reiterates its commitment to engage constructively on loss and damage at COP27 including through a new agenda item on loss and damage finance.” Power added that Canada “looks forward to the continuation of the …
House leader wants PH to seek accountability from big polluters following the devastation caused by Severe Tropical Storm Paeng (Nalgae) in several parts of the Philippines. News Source: rappler.com
The NGO GermanWatch has ranked India seventh among countries most affected by extreme weather in 2019, noting that massive floods that year caused damage of around $10 billion, claiming 1,800 lives and displacing around 1.8 million people. See also COP27: India can’t be expected to pay for climate sins of the West. News Source: AP News
