Full Steam Ahead on Loss and Damage Finance in 2017
18 November 2016
Delegates, ECO can’t help but notice that you’ve had a somewhat relaxed COP. It almost seemed like you were skating on the wins in the Paris Agreement, and using that excuse not to move too far ahead here in Marrakech. Luckily, you’ve got the opportunity to do some deep thinking over the holiday break about how to move loss and damage finance forward in a decisive fashion–with the deadline for submissions coming up on 27 February. Let’s smash that “placeholder” with a clear set of tasks, timelines and outcomes for the mandated strategic priority of loss and damage finance, as well as the other key elements of the 5-year work plan.
One strategic outcome that you will no doubt want to include in your submissions is the goal of increasing financing over and above adaptation finance for those most vulnerable to climate change, from a nice predictable source. Say, from the fossil fuel and aviation industries that have helped get us into the climate mess that we’re in? That’s something for you to think about over the “break”.