COP27 closes with deal on loss and damage: ‘A step towards justice’, says UN chief
(United Nations News) After days of intense negotiations that stretched into early Sunday morning in Sharm el-Sheikh, countries at the latest UN Climate Change Conference, COP27, reached agreement on an outcome that established a funding mechanism to compensate vulnerable nations for ‘loss and damage’ from climate-induced disasters.
“This COP has taken an important step towards justice. I welcome the decision to establish a loss and damage fund and to operationalize it in the coming period,” UN Secretary-General António Guterres said in a video message issued from the conference venue in Egypt, underscoring that the voices of those on frontlines of the climate crisis must be heard.
Congratulations
@AOSISChair for your commitment. Now on to the operationalisation phase.#lossanddamage #fund #COP27 #nextchapter https://t.co/ckPTFcZLOc
— CARICOM Secretariat (@CARICOMorg) November 20, 2022
The UN chief was referring to what ended up becoming the thorniest issue at this COP, shorthand for the annual Conference of Parties to the UN Framework Convention on Climate Change (UNFCCC).
Developing countries made strong and repeated appeals for the establishment of a loss and damage fund, to compensate the countries that are the most vulnerable to climate disasters, yet who have contributed little to the climate crisis.
“The creation of a #LossAndDamage fund today is also a victory of civil society groups across the world…We know that the hard work to operationalise this fund begins now.” @TasneemEssop of @CANIntl during the closing plenary of #COP27. pic.twitter.com/47i4mL1Mk0
— Loss and Damage Collaboration (L&DC) (@LossandDamage) November 20, 2022
“Clearly this will not be enough, but it is a much-needed political signal to rebuild broken trust,” he underscored, stressing that the UN system will support the effort every step of the way.
Read more at: United Nations News
Source: CARICOM TODAY