CARE's COP27 response: One step forward, but many more needed - CARE - Care.org

Loss and damage fund a key win

From CARE’s perspective, the results of COP27 are decidedly mixed. Only one of our key topics – loss and damage – saw significant progress, and in expressing disappointment in other areas, we must express our gratitude that this topic is now on the global agenda. After a long and hard fight led by vulnerable countries and civil society organizations, not only has loss-and-damage finance made it for the first time on a COP agenda, but developed countries have agreed to the establishment of a much-sought Loss and Damage Fund.

Question marks surround even this good news, with funding details still to be determined, and the fund not launching until next year. That said, this decision demonstrates that the call for climate justice on behalf of vulnerable people has finally been heard and acted upon.

Overall, negotiations at COP27 were hampered by rich countries not living up to their financial obligations.

Our position, before and after the conference, is that the Global North should provide $100 billion a year in new and additional finance for mitigation and adaptation in developing countries, and this has not yet come to pass.

The failure of the Global North to deliver on pre-existing promises has created distrust. COP27 was expected to establish a clear plan for delivery, and to ensure that the shortfall is provided in the coming years. Unfortunately, developed countries got away with deleting those key elements from the texts, leaving us with only a vague call on rich countries to meet the goal, with no deadline set.

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December 07, 2022 at 01:37AM
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CARE's COP27 response: One step forward, but many more needed - CARE - Care.org
"care" - Google News
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