Greenpeace welcomes the COP27 agreement to establish a Loss and Damage Finance Fund as an important foundation in building towards climate justice. But, warns against politics as usual.
Yeb Saño, Executive Director, Greenpeace Southeast Asia and Head of the Greenpeace delegation attending the COP said:
“The agreement for a Loss and Damage Finance Fund marks a new dawn for climate justice. Governments have laid the cornerstone of a long overdue new fund to deliver vital support to vulnerable countries and communities who are already being devastated by the accelerating climate crisis.”
“Well into overtime these negotiations have been marred by attempts to trade adaptation and mitigation against loss and damage. In the end they were pulled back from the precipice by the concerted effort of developing countries standing firm and by climate activists’ demands for the blockers to step up.”
“Moving forward into discussion of the details of the Fund, we need to ensure that the countries and corporations most responsible for the climate crisis make the biggest contribution. That means new and additional finance for developing countries and climate vulnerable communities not just for loss and damage, but for adaptation and mitigation too. Developed countries must make good on the existing US $100bn per year pledge to support low income countries to deliver carbon-cutting policies and increase resilience to climate impacts. They must also implement their commitment to at least double funding for adaptation.”
“Encouragingly, a large number of countries from north and south voiced their strong support for phasing out all fossil fuels – coal, oil and gas – which is what implementing the Paris Agreement will take. But they were ignored by this year’s COP Presidency. Petro-states and a small army of fossil fuel lobbyists were out in force in Sharm el-Sheikh to make sure that it did not happen. In the end, if all fossil fuels are not rapidly phased out no amount of money will be able to cover the cost of the resulting loss and damage. It is that simple. When your bathtub is overflowing you turn off the taps, you don’t wait a while and then go out and buy a bigger mop!”
The Executive director of Greenpeace MENA, Ghiwa Nakat said: “Tackling climate change and promoting climate justice is not about winners and losers. Either we make progress on all fronts or we all lose. It must be remembered that nature does not negotiate, nature does not compromise.”
“The establishment of a loss and damage fund is a historic milestone in the fight for climate justice. The COP27 presidency has heard the plea of vulnerable countries to see this fund agreed now. Unfortunately, the calls for a fossil fuel phase out fell into deaf ears. The Incoming UAE COP28’ presidency needs to understand there is no climate justice without a phase out of all fossil fuels, coal, oil and gas!”
The Middle East and North Africa is warming at twice the global average – impacts are being seen in communities and the natural world throughout the region.