Loss and damage finance: Code Red to G7 and G20 countries
ECO still gets goosebumps listening over and over to Barbados’ Prime Minister Mia Amor Mottley’s powerful intervention on Monday: “Failure to provide the critical finance, and that of loss and damage is measured, my friends, in lives and livelihoods in our communities. This is immoral and it is unjust”.
She was not the only one to call on G7 and G20 countries to acknowledge and fulfill their responsibilities: heads of states and governments from Honduras, Kenya, and Antigua and Barbuda, among others, echoed her call to action.
ECO hopes this is the very last time that these countries feel the need to deliver such desperate statements. Now is the time for Parties to show that they have heard the message and are ready to act.
To do so, three things need to happen at COP26:
Firstly, ECO urges the establishment of a permanent agenda item on loss and damage for UNFCCC Subsidiary Bodies. Indeed, despite being the third pillar of climate action recognised in the Paris Agreement (alongside adaptation and mitigation), loss and damage (L&D) is discussed under the UNFCCC negotiations only once a year, at the technical level, through the review of the WIM Executive Committee report to the COP.
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