Four years after the decision to create the Warsaw International Mechanism (WIM) on Loss and Damage, Parties are discussing a five-year work plan, which should have been started last year. In Paris, Loss and Damage was finally differentiated from Adaptation. However, American, Australian and European negotiators keep arguing that they don’t see how Loss and Damage is different from Adaptation. Really?!
The reality is that we are living in a warming world. Each year we see the impact of extreme weather events increasing, wiping out decades of development in some countries. For instance, this September, 96% of Dominica was destroyed by two hurricanes in just two weeks. So far, the money Dominica has received is mostly humanitarian assistance, which was promised after tropical storm Erika two years ago. This money will barely cover the cleaning costs, let alone to allow the country to provide relief to its population and rebuild to become resilient enough for coping with more intense and frequent hurricanes in the future.
ECO hears that the new InsuResilience Global Partnership, which builds on previous G7 and G20 agreements, will be launched today. ECO resists any notion that an insurance-only approach is adequate to address loss and damage.
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