Sharm el-Sheikh, Egypt – In response to the confirmed agenda item at COP27 to discuss “funding arrangements responding to loss and damage associated with the adverse effects of climate change,” Yeb Saño, Greenpeace’s COP27 Head of Delegation, said:
This is game on for agreeing the loss and damage finance facility so urgently needed to support climate justice for developing countries. It is a significant moment that loss and damage finance has been agreed as an agenda item for the first time since the most vulnerable countries raised the clarion call decades ago.
The fight is far from over. The blatant attempt of rich countries to push this item off the COP27 table gives us a hint of some of the delay and diversion tactics that can be anticipated ahead.
Governments of richer nations have dragged their feet on this issue for far too long, but are now under growing pressure to pay their fair share for a crisis they are most responsible for causing.
Developing countries must stay firm in demanding that a dedicated loss and damage finance facility is agreed over the next fortnight, to collect and distribute money to compensate the worst-hit countries coping with the unavoidable impacts of the climate crisis. Developed countries should act on these demands and make sure fossil fuel polluters are made to pay for the damages they have caused.