“First meeting on Loss and Damage fund must aim to have an efficient and operational fund by COP28”
27 March 2023
Picture credit: Dharini Parthasarathy/ 2022
27 March 2023: Ahead of the first meeting of the Transitional Committee (TC) of the Loss and Damage Fund, taking place in Egypt from 27 March, Climate Action Network reiterates the importance of this meeting to lay a strong foundation to ensure the operationalisation of the fund by COP28.
A historic decision at COP27 to create the fund acknowledged for the first time that: “existing funding arrangements fall short of responding to current and future impacts of climate change and are not sufficient to address the existing funding gaps related to providing action and support in responding to loss and damage associated with the adverse effects of climate change.”
Following that, this meeting brings together delegates from across the world to set up the building blocks for the fund.
Please read this comprehensive note on civil society’s demands and vision for the fund
Tasneem Essop, Executive Director, Climate Action Network International said:
Following the historic agreement at COP27 to create a Loss and Damage fund, it is now time for the transitional committee meeting in Egypt to get the ball rolling and make this a truly progressive, transparent and accountable fund to urgently respond to the needs of those on the frontline of the climate crisis. This means ensuring the first meeting by the committee is constructive and efficient with a view to progress towards the operationalisation of the fund by COP28.”
Harjeet Singh, Head of Global Political Strategy, Climate Action Network International:
“Governments this week in Egypt for the first Transitional Committee meeting on the Loss and Damage Fund must build on the success from COP27 where countries came together to agree on the need and importance of this fund. Working on the technical building blocks of the fund requires setting up robust governing arrangements right from the onset so the fund is fit for purpose and can swiftly disburse much-needed finance to vulnerable communities on the frontline of the climate crisis.”
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For queries please contact:
Dharini Parthasarathy, Global Communications Lead, dparthasarathy@climatenetwork.org or write to media@climatenetwork.org