We ain’t wastin’ time: Time to Get Real About the Adoption Fund

13 November 2017

It seems as if developed nations spent the first week of COP 23 listening to the song “Sitting On The Dock Of The Bay” by Otis Redding.

 

ECO is astonished! At this Pacific COP, developed countries have been wasting time looking for arguments to avoid recognizing the urgency to increase support for loss and damage. Are you going to sit at the dock of the bay while millions suffer the worst impacts of climate change?

 

ECO hopes that this week developed countries won’t just watch the tide roll in, but recognize that loss and damage is more than just an article in the Paris Agreement. Ideally, countries will come to a consensus on a transparent process that will allow future ongoing discussions on loss and damage finance.

 

Some of the richer nations seem to be resting their bones on the basis that they have plans to provide US$100 billion per year by 2020. This still remains a promise as the quality of all funds to be provided depends on how predictable, adequate, transparent and sustainable they are. Are rich countries forgetting the current imbalance on adaptation finance and the lack of adequate transparent rules to track their commitments? Building trust is dependent on how developed countries demonstrate their progress by being more rigorous in the way they ensure predictability and transparency of financial support.

 

Finally, let’s say it. We are ready. The Adaptation Fund shall serve the Paris Agreement. ECO says: let’s not make it complicated.

 

Ministers, the world needs to hear that we ain’t wastin” time.

 

At this Pacific COP; concrete guidance on loss and damage, clear decisions on pre-2020 financial action for support, and a decision on the Adaptation Fund will help catalyse trust to continue the momentum on the Paris Agreement.