Proposed Governing Instrument: Loss and Damage Fund

A joint submission by: Climate Action Network (CAN), Global Campaign to Demand Climate Justice (DCJ), and Women and Gender Constituency (WGC).

Countries and communities incurring significant costs associated with climate change induced loss and damage need urgent support. The historic decision of establishing a Fund at COP 27 in Sharm el-Sheikh needs to be promptly and meaningfully implemented.

Civil society organisations have come together to present their vision of the governance of the Loss and Damage Fund. We expect the new Fund for Loss and Damage to become the normative body for Loss and Damage finance and lead the mosaic of fund arrangements and institutions.

The proposed Governing Instrument details the objectives and guiding principles of the Loss and Damage Fund; Governance and Institutional Arrangements; Rules of Procedure and Role and Functions of an independent Board; and other operational modalities.

The purpose of this Fund is to make a significant and ambitious contribution to provide new, additional, predictable and adequate financial support to assist developing countries and communities that are particularly vulnerable to the adverse effects of climate change in comprehensively addressing and providing remedy for economic and non-economic loss and damage.

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Download file: http://CAN_DCJ_WGC_Joint-Submission-Proposed-Governing-Instrument_Loss-and-Damage-Fund-1.pdf