4 Years is Long Enough! Time for Loss and Damage Finance
From the devastating Atlantic hurricane season to catastrophic flooding across South Asia, 2017 has delivered harrowing reminders of the human cost and grave injustice of climate change. Loss and damage from climate change is not a future hypothetical but a growing current reality, affecting millions around the world.
AOSIS, LDCs, G77, Africa Group, AILAC – we heard you loud and clear at the opening of SBI and the past days’ consultations and couldn’t agree more! We simply cannot let this COP – the ‘Pacific COP’ – go by without real progress in action and support on loss and damage.
First, it is long past time to elevate loss and damage within the negotiations. This means making it a permanent agenda item of the subsidiary bodies and under the CMA negotiation process. We must link work on loss and damage to all elements of the Paris Agreement, including the Global Stocktake and the Transparency Framework, in a clever but effective way. Permanent agendas are critical because other than annual reports of the Executive Committee on its work, there is currently no way for Parties to oversee the larger Warsaw International Mechanism on Loss and Damage (WIM) aspirations or the achievement of Article 8 of the Paris Agreement.
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