Nov. 7 (UPI) — The 27th United Nations Climate Change Conference will include discussions of “loss and damage” funding for some of the poorest and most heavily affected countries in the world.
The topic of loss and damage funding has been nothing short of controversial among world leaders and policymakers.
On Saturday, and early into Sunday, delegates debated whether it should be discussed at all at COP27, The Guardian reported. After hours of back and forth, the agenda for the next two weeks was finalized with loss and damage included.
Loss and damage refers to financial restitution from industrialized countries to vulnerable and developing countries to offset the effects of climate change. This funding can help those countries eventually catch up and implement the resources necessary to counter those effects more adequately.
Presidential envoy John Kerry recently told Bronwen Maddox, chief executive of the British international affairs think tank Chatham House, that the United States would be on board with helping developing nations which are disproportionately seeing the effects of climate change firsthand.
“How do we develop the developing world?” Kerry asked. “We’ve been falling short grossly. We have to help these countries be able to jumpstart.”
COP27 is being held in Egypt through November 18. There are 45,000 people including delegates from 196 countries and 120 world leaders expected to be in attendance.
The resolution to discuss loss and damage was a welcomed one for non-governmental organizations such as the World Resources Institute, a non-profit organization based in Washington D.C. that focuses on issues such as climate change, world food supply, forest conservation and energy sources.
“At long last, providing funding to address losses and damages from climate impacts is on the agenda of the UN climate negotiations,” said Ani Dasgupta, President and CEO of WRI.
“Vulnerable nations have tirelessly appealed for help to cope with the alarming and damaging climate impacts that they hold little responsibility for causing.”
While the discussion of financial help is encouraging, little progress has been made in the last year after countries agreed to efforts to slow the rise of global temperatures at COP26. Their goal was to prevent global temperatures from rising by more than 1.5 degrees Celsius above pre-industrial levels by cutting emissions.
“Only 29 countries had come forward with tightened national plans since Cop26 — 29 is not 194. So here I am now looking out at 165 countries that are due to be revisiting and strengthening their national pledges this year,” said Simon Stiell, U.N. executive secretary.
