How a climate 'loss and damage' fund can truly deliver on its promise
At COP 28, leaders must agree on how to operationalize a loss and damage fund that delivers climate financial assistance to those who need it, says Climate Action Network International's Harjeet Singh.
<a class="spreaker-player" href="https://www.spreaker.com/episode/57753302" data-resource="episode_id=57753302" data-width="100%" data-height="200px" data-theme="light" data-playlist="false" data-playlist-continuous="false" data-chapters-image="true" data-episode-image-position="right" data-hide-logo="true" data-hide-likes="false" data-hide-comments="false" data-hide-sharing="false" data-hide-download="true">Listen to "How a climate 'loss and damage' fund can truly deliver on its promise" on Spreaker.<script async src="https://widget.spreaker.com/widgets.js"></script></a> Listen on Spotify, Apple Podcasts, or search “Devex” in your favorite podcast app. The decision to establish a loss and damage fund to provide financial assistance to countries affected by climate disasters was hailed as one of the biggest achievements at last year’s United Nations climate conference, COP 27. One year later, reaching an agreement on how that fund will be operationalized is widely seen as a benchmark for success at COP 28. While negotiators managed to agree on a draft framework for the fund earlier this month, multiple points of tension remain. Developing countries and civil society organizations were disappointed with the proposal to house the fund in the World Bank, at least for an interim period, rather than as an independent fund under the United Nations Framework Convention on Climate Change, as well as the decision to limit eligibility for funding to small island states and least developed countries rather than all vulnerable countries. Harjeet Singh has been campaigning on this issue for years, and as the head of global political strategy at Climate Action Network International, a global network of NGOs fighting climate change, he’s now calling for rich countries to stop dragging their feet while climate-vulnerable countries pay the price. “That message of hope coming out of COP 28 is extremely important. We cannot arrive at a conclusion saying it’s a work in progress,” Singh said in the second episode of Devex’s Climate + podcast. “Now it’s about really delivering it to the people and for the people.” The Climate + podcast is supported by the World Bank. Join Devex on Dec. 7 on the sidelines of COP 28 in Dubai or online from anywhere for the Climate + summit. Register here.
Listen to "How a climate 'loss and damage' fund can truly deliver on its promise" on Spreaker.
Listen on Spotify, Apple Podcasts, or search “Devex” in your favorite podcast app.
The decision to establish a loss and damage fund to provide financial assistance to countries affected by climate disasters was hailed as one of the biggest achievements at last year’s United Nations climate conference, COP 27. One year later, reaching an agreement on how that fund will be operationalized is widely seen as a benchmark for success at COP 28.
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Michael Igoe is a Senior Reporter with Devex, based in Washington, D.C. He covers U.S. foreign aid, global health, climate change, and development finance. Prior to joining Devex, Michael researched water management and climate change adaptation in post-Soviet Central Asia, where he also wrote for EurasiaNet. Michael earned his bachelor's degree from Bowdoin College, where he majored in Russian, and his master’s degree from the University of Montana, where he studied international conservation and development.
Naomi Mihara is an Associate Editor for Devex, working on creative and audiovisual projects. She has a background in journalism and international development, having previously served as an assistant correspondent for Japanese newspaper The Yomiuri Shimbun and as a communications officer for the International Organization for Migration in Southeast Asia. She holds a master’s degree in Multimedia Journalism from Bournemouth University.
