How will U.N. climate deal on ‘loss and damage’ work?
2 years, 1 month ago

How will U.N. climate deal on ‘loss and damage’ work?

LA Times  

Mari Carmen Zambrano dries out her broken, drenched bed outside her home after Hurricane Ian tore off her roof in La Coloma, Cuba, on Oct. 5, 2022. The decision Sunday by nations around the world to establish a fund to help poor countries hit hard by a warming planet was one of the most significant since U.N. climate talks began 30 years ago. HISTORY In the early 1990s, the Alliance of Small Island States, a group of low-lying coastal and small island countries, began calling for the establishment of a loss and damage fund as the United Nations was creating a framework to deal with climate change on an international level. How the loss and damage fund will fit in with “other institutions, agencies that are out there doing humanitarian work, helping people rebuild, dealing with migration and refugee crises, dealing with food security, water security” will need to be worked out, said David Waskow, the World Resources Institute international climate director. In 2009, rich nations agreed to provide $100 billion a year to help developing countries transition to green energy systems and adapt to climate change.

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History of this topic

Climate-change colonialism keeps poor countries impoverished
3 weeks, 1 day ago

Climate-change colonialism keeps poor countries impoverished

Live Mint  

At the latest United Nations climate summit, developing nations slammed rich countries’ pledge to spend $300 billion annually on climate reparations as “crumbs." Members of the Organization for Economic Cooperation and Development currently spend $223.7 billion a year trying to do good in poor countries through bilateral and multilateral aid and development spending. Advocates of green aid are right that …

Cop29 climate deal worth £240BILLION is finally struck but excludes China - as developing countries say the sum is 'too little, too late'
1 month ago

Cop29 climate deal worth £240BILLION is finally struck but excludes China - as developing countries say the sum is 'too little, too late'

Daily Mail  

Wealthy countries yesterday agreed to triple the amount of aid they pay to developing nations to tackle climate change in a last-minute deal at the Cop29 summit. But climate groups labelled the funding agreement, designed to help developing nations combat global warming and to modernise their economies, a ‘drop in the ocean’ of rising seawaters. Yalchin Rafiyev, Azerbaijan's COP29 lead …

Cop29 climate deal criticised as a ‘death sentence for millions’
1 month ago

Cop29 climate deal criticised as a ‘death sentence for millions’

The Independent  

Sign up for the View from Westminster email for expert analysis straight to your inbox Get our free View from Westminster email Get our free View from Westminster email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Campaigners have hit out at a “woefully inadequate” financial package for …

‘No deal is better than a bad deal’: Cop29 deadlocked over climate fund
1 month ago

‘No deal is better than a bad deal’: Cop29 deadlocked over climate fund

The Independent  

Sign up to the Independent Climate email for the latest advice on saving the planet Get our free Climate email Get our free Climate email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Hopes of a trillion-dollar climate finance fund appear to be slipping out of reach after …

COP29 negotiators seek climate finance deal as deadline looms
Trending News
1 month ago

COP29 negotiators seek climate finance deal as deadline looms

Al Jazeera  

Vulnerable nations are seeking $1.3 trillion to deal with damage from climate change and to adapt to that change. With time running down, negotiators at the United Nations’ annual climate talks have returned to the puzzle of finding an agreement to bring far more money for developing countries to adapt than wealthier countries have shown they are willing to pay. …

Richer countries are starting to pay poorer ones for climate change damages
1 month ago

Richer countries are starting to pay poorer ones for climate change damages

NPR  

Richer countries are starting to pay poorer ones for climate change damages toggle caption Amos Gumulira/AFP via Getty Images It was 2 a.m. when floodwaters started pouring into Christopher Bingala's house. The payment is one of the first examples of "loss and damage" compensation, a new kind of funding specifically for climate change-related disasters. "Low-income households in low-income countries have …

Beyond the Loss and Damage Fund: 3 Innovative Ways to Help Countries Hit by Climate Disasters
1 month ago

Beyond the Loss and Damage Fund: 3 Innovative Ways to Help Countries Hit by Climate Disasters

The Quint  

People climb to the top of a bridge damaged when Cyclone Idai hit Mozambique in 2019. To help address damages specifically from climate change, the global community agreed at the U.N. climate conference in 2022 to create a new method – a Loss and Damage Fund. Sending aid before the disasters hit In response to these growing needs, the disaster …

China praised for climate financial aid
1 month, 1 week ago

China praised for climate financial aid

China Daily  

Experts and officials from both domestic and international spheres have praised China's voluntary financial support to developing nations within the South-South cooperation framework, highlighting it as a testament to the largest developing nation's role as a significant and responsible world power. Since 2016, China has provided and mobilized more than 177 billion yuan of financial support to bolster climate initiatives …

China praised for climate financial aid
Trending News
1 month, 1 week ago

China praised for climate financial aid

China Daily  

Experts and officials from both domestic and international spheres have praised China's voluntary financial support to developing nations within the South-South cooperation framework, highlighting it as a testament to the largest developing nation's role as a significant and responsible world power. Since 2016, China has provided and mobilized more than 177 billion yuan of financial support to bolster climate initiatives …

China praised for climate financial aid
Trending News
1 month, 1 week ago

China praised for climate financial aid

China Daily  

Experts and officials from both domestic and international spheres have praised China's voluntary financial support to developing nations within the South-South cooperation framework, highlighting it as a testament to the largest developing nation's role as a significant and responsible world power. Since 2016, China has provided and mobilized more than 177 billion yuan of financial support to bolster climate initiatives …

Why are countries fighting over climate finance at COP29?
1 month, 1 week ago

Why are countries fighting over climate finance at COP29?

The Hindu  

The main task for nearly 200 countries at the U.N.'s COP29 climate summit is to broker a deal that ensures up to trillions of dollars in financing for climate projects worldwide. Wealthy countries pledged in 2009 to contribute $100 billion a year to help developing nations cope with the costs of a transition to clean energy and adapting to the …

Developed countries should intensify climate actions
4 months, 3 weeks ago

Developed countries should intensify climate actions

China Daily  

An employee undertakes turbine blade installation at a wind farm in Ruichang, Jiangxi province, last week. Hence, developed countries should continue to provide the developing nations with more economic and technological support to mitigate and adapt to climate change. In 2009, developed countries committed to jointly mobilize $100 billion a year in climate finance by 2020 to boost climate actions …

Developed countries should intensify climate actions
4 months, 3 weeks ago

Developed countries should intensify climate actions

China Daily  

An employee undertakes turbine blade installation at a wind farm in Ruichang, Jiangxi province, last week. Hence, developed countries should continue to provide the developing nations with more economic and technological support to mitigate and adapt to climate change. In 2009, developed countries committed to jointly mobilize $100 billion a year in climate finance by 2020 to boost climate actions …

UN climate chief’s blunt message: Fewer loopholes, way more cash to really halt climate change
10 months, 3 weeks ago

UN climate chief’s blunt message: Fewer loopholes, way more cash to really halt climate change

Associated Press  

To keep Earth from overheating too much, the nations of the world need to put fewer loopholes in climate agreements and far more money — trillions of dollars a year — into financial help for poor nations, the United Nations climate chief said Friday. “We need torrents — not trickles — of climate finance.” United Nations climate officials emphasized the …

Don’t applaud the COP28 climate summit’s loss and damage fund deal just yet – here’s what’s missing
1 year ago

Don’t applaud the COP28 climate summit’s loss and damage fund deal just yet – here’s what’s missing

The Hindu  

Shortly after the opening ceremony of the 2023 United Nations climate negotiations in Dubai, delegates of nations around the world rose in a standing ovation to celebrate a long-awaited agreement to launch a loss and damage fund to help vulnerable countries recover from climate-related disasters. A brief history of loss and damage “Breakthrough” was the term often used to describe …

Global warming could cost poor countries trillions. They’ve urged the COP28 climate summit to help
1 year ago

Global warming could cost poor countries trillions. They’ve urged the COP28 climate summit to help

Associated Press  

DUBAI, United Arab Emirates — A prominent developing-world leader on the issue of climate change said Monday that global taxes on the financial services, oil and gas, and shipping industries could drum up hundreds of billions of dollars for poorer countries to adapt and cope with global warming. The U.N. climate summit known as COP28, which is being presided over …

Reparations fund ‘historic’, but real fight begins now: Climate campaigners
1 year ago

Reparations fund ‘historic’, but real fight begins now: Climate campaigners

Al Jazeera  

Experts say the loss and damage fund launched at COP28 is just the first step towards climate justice. The launch of a ‘loss and damage’ fund on Thursday at the start of the United Nations COP28 summit marks a landmark moment but is only the first in a series of necessary steps in the fight for climate justice, say experts …

COP28 climate summit just approved a ‘loss and damage’ fund. What does this mean?
1 year ago

COP28 climate summit just approved a ‘loss and damage’ fund. What does this mean?

The Hindu  

Day one of the COP28 climate summit saw the first big breakthrough: agreement on a “loss and damage” fund to compensate poor states for the effects of climate change. Met with a standing ovation in Dubai, the agreement means wealthy states and major polluters will put millions of dollars towards a fund that will in turn distribute funds to poor …

Countries promise millions for damages from climate change. So how would that work?
1 year ago

Countries promise millions for damages from climate change. So how would that work?

NPR  

Countries promise millions for damages from climate change. Enlarge this image toggle caption Spencer Platt/Getty Images Spencer Platt/Getty Images As climate change negotiations kicked off in Dubai, countries reached a historic agreement for a new fund to help developing countries which bear the brunt of climate impacts. More than $400 million was announced, with the largest pledges coming from Germany …

On 1st day, UN climate conference sets up fund for countries hit by disasters like flood and drought
1 year ago

On 1st day, UN climate conference sets up fund for countries hit by disasters like flood and drought

Associated Press  

DUBAI, United Arab Emirates — The world just took a big step toward compensating countries hit by deadly floods, heat and droughts. Sultan al-Jaber, the president of the COP28 climate conference in Dubai, hailed “the first decision to be adopted on Day One of any COP” — and said his country, the United Arab Emirates, would chip in $100 million. …

In victory on first day, U.N. climate conference sets up fund for disaster-hit nations
1 year ago

In victory on first day, U.N. climate conference sets up fund for disaster-hit nations

LA Times  

Protesters call for compensation for countries hit badly by climate change at last year’s United Nations summit in Sharm el-Sheikh, Egypt. Nearly all the world’s nations finalized the creation of a fund to help compensate countries struggling to cope with loss and damage from climate change, seen as a major first-day breakthrough at this year’s United Nations climate conference. Rachel …

Impasse broken on climate fund before COP28 but tough road ahead
1 year, 1 month ago

Impasse broken on climate fund before COP28 but tough road ahead

The Hindu  

The fifth meeting of a 24-member U.N. committee tasked with designing the fund concluded in Abu Dhabi over the weekend, with support for a “take-it-or-leave-it” deal that would make the World Bank the interim home of the fund and encourage - but not oblige - all countries to contribute to it. It would aim to divert billions of dollars towards …

Failure to agree on Loss and Damage facility could risk progress at COP28
1 year, 1 month ago

Failure to agree on Loss and Damage facility could risk progress at COP28

Hindustan Times  

The fourth meeting of the Transitional Committee on Loss and Damage Fund ended without a clear consensus on operationalising the fund last week, exposing a deep trust deficit among rich and emerging economies over historic responsibility, climate reparations and making money available for compensation. According to TWN, a non-profit international research and advocacy group, developed countries pushed for the fund …

Countries deadlocked on 'loss and damage' fund as UN climate summit nears
1 year, 2 months ago

Countries deadlocked on 'loss and damage' fund as UN climate summit nears

The Hindu  

Countries are deadlocked over how to design a fund to help countries recover and rebuild from climate change-driven damage, with just over 30 days left before crucial United Nations climate negotiations kick off in Dubai. Two dozen countries involved in a committee tasked with designing a "loss and damage" fund wrapped up the last meeting in the early hours of …

Finding funds for climate action risks ending up as a pipe dream
1 year, 2 months ago

Finding funds for climate action risks ending up as a pipe dream

Live Mint  

Low-income countries are in the throes of a liquidity crunch that is not only undermining their economic development but also deepening the global climate crisis. To overcome this dilemma, the African Union’s Nairobi Declaration on Climate Change proposes that countries be allowed to reschedule debts coming due to create fiscal space for ‘green growth’ policies and reforms, financed by MDBs. …

Are climate reparations finally on the way for vulnerable countries?
1 year, 3 months ago

Are climate reparations finally on the way for vulnerable countries?

Al Jazeera  

A ‘significant change in action’ is under way to compensate nations under direct assault from climate chaos, observers say. Climate negotiators representing two dozen countries will hold meetings on Tuesday to iron out details of the United Nations’ “loss and damage” fund, created last year in Sharm el-Sheikh, Egypt, and expected to be presented at COP28 in Dubai in November. …

Climate change: Which countries will foot the bill?
1 year, 5 months ago

Climate change: Which countries will foot the bill?

The Hindu  

Record-breaking heat in China. Climate finance refers to money that wealthy countries pay toward helping poorer nations reduce CO2 emissions and adapt to a hotter, harsher world. In a meeting with Kerry on Tuesday, Chinese Premier Li Qiang stressed that developed countries should deliver their unfulfilled climate finance commitments and take the lead in cutting emissions, according to Li's office. …

Toward a Climate Loss and Damage Fund
2 years ago

Toward a Climate Loss and Damage Fund

The Diplomat  

One of the key outcomes from the COP27 United Nations Climate Change Conference held in Egypt in November was the establishment of a fund to pay loss and damage to developing countries most affected by climate change. For Pacific Island states this is a welcome development, as these countries make negligible contributions to climate change but disproportionately experience its effects. …

Climate justice needs more than a fund. It needs accountability
2 years ago

Climate justice needs more than a fund. It needs accountability

Al Jazeera  

The COP27 fund is an important step forward. After innumerable fits and starts, COP27 witnessed a win for climate diplomacy in November, when the United Nations climate conference agreed to set up a fund for loss and damage caused by global warming — a key demand of many developing nations. Its message that “loss and damage is not charity, it’s …

COP27 fails to improve on COP26 but loss and damage fund the saving grace
2 years ago

COP27 fails to improve on COP26 but loss and damage fund the saving grace

The Hindu  

Published : Nov 29, 2022 14:31 IST Some 30 years ago, in 1991, the Pacific island nation of Vanuatu put the term “loss and damage” on the table of the UN climate negotiations, which finally saw some tangible progress at the 27th session of the Conference of the Parties to the UN Framework Convention on Climate Change. The Glasgow declaration …

India @COP27: Why Development & Not Climate Finance Should Be Govt's Top Agenda
2 years, 1 month ago

India @COP27: Why Development & Not Climate Finance Should Be Govt's Top Agenda

The Quint  

The relevant decision text notes that the Conference of Parties ‘establish a fund for responding to loss and damage whose mandate includes a focus on addressing loss and damage.' To further restrict the recipient of the Fund, COP agreed to establish the new funding arrangements “for assisting developing countries that are particularly vulnerable to the adverse effects of climate change”. …

Can poor countries afford to go green?
2 years, 1 month ago

Can poor countries afford to go green?

The Hindu  

The 27th United Nations Climate Change Conference concluded on November 20 in Sharm el-Sheikh Egypt. Nearly 200 countries pledged to set up a ‘loss and damage fund’ to help vulnerable countries affected by climate change. How can poor countries weigh the cost of climate change against the economic cost of cutting down on fossil fuel use? COP27 | India hails …

COP27 ‘loss and damage’ fund: What does South Asia have to gain from it?
2 years, 1 month ago

COP27 ‘loss and damage’ fund: What does South Asia have to gain from it?

The Hindu  

Published : Nov 22, 2022 15:11 IST Countries that participated in this year’s UN climate summit in the Egyptian resort city of Sharm el-Sheikh agreed on November 20 to set up a “loss and damage” fund to help developing and climate-vulnerable countries overcome the devastating effects of worsening weather extremes. “Countries must now work together to ensure that the new …

In war-torn states hurt by climate, scant hope for new funds
2 years, 1 month ago

In war-torn states hurt by climate, scant hope for new funds

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. “You have to have strong institutions, which don’t exist …

In war-torn states hurt by climate, scant hope for new funds
2 years, 1 month ago

In war-torn states hurt by climate, scant hope for new funds

Al Jazeera  

Climate vulnerable nations demand ‘innovative ways’ to receive disaster funds, including initiatives on debt relief and help to build government institutions. “You have to have strong institutions, which don’t exist in many countries.” ‘The risk appetite’ Robert Mardini, the director general of the International Committee for the Red Cross, said “close to zero amount of climate finance” is reaching conflict-affected …

A deepening climate divide
2 years, 1 month ago

A deepening climate divide

Hindustan Times  

This year’s annual United Nations Climate Conference ended in Egypt’s Sharm El Sheikh late on Saturday, taking, in partic-ular, a significant step by setting up a Loss and Damage fund. Formalised in 1992, CBDR means all countries are responsible for tackling the climate crisis, but not equally — poorer nations have a legitimate interest in first bringing populations up to …

COP27: What is the UN loss and damage fund and how will it work?
2 years, 1 month ago

COP27: What is the UN loss and damage fund and how will it work?

Firstpost  

The establishment of a fund to help poor nations getting hit hard by extreme weather events was one of the most significant decisions to come out of US climate talks in the last 30 years Sharm el-Sheikh: The decision on Sunday by nations around the world to establish a fund to help poor countries hit hard by a warming planet …

EXPLAINER: How will UN climate deal on loss and damage work?
2 years, 1 month ago

EXPLAINER: How will UN climate deal on loss and damage work?

Associated Press  

SHARM el-SHEIKH, Egypt — The decision Sunday by nations around the world to establish a fund to help poor countries hit hard by a warming planet was one of the most significant since U.N. climate talks began 30 years ago. HISTORY In the early 1990s, the Alliance of Small Island States, a group of low-lying coastal and small island countries, …

UN climate deal: Calamity cash, but no new emissions cuts
2 years, 1 month ago

UN climate deal: Calamity cash, but no new emissions cuts

Associated Press  

SHARM EL-SHEIKH, Egypt — For the first time, the nations of the world decided to help pay for the damage an overheating world is inflicting on poor countries, but they finished marathon climate talks on Sunday without further addressing the root cause of those disasters — the burning of fossil fuels. “We have finally responded to the call of hundreds …

Historic ‘loss and damage’ fund adopted at COP27 climate summit
2 years, 1 month ago

Historic ‘loss and damage’ fund adopted at COP27 climate summit

Al Jazeera  

Countries at the COP27 summit agree to set up a compensation fund for poor nations suffering the impact of climate change. Countries at the United Nations COP27 climate summit in Egypt have adopted a final agreement that establishes a fund to help poor nations cope with the extreme weather events caused by global warming. The plenary session approved the document’s …

COP27: Rich nations agree on 'loss and damage' climate aid to poor in landmark deal
2 years, 1 month ago

COP27: Rich nations agree on 'loss and damage' climate aid to poor in landmark deal

India Today  

A historic deal has been reached at the 27th United Nations Climate Change Conference commonly known as COP27 to create a fund to compensate poor nations that are victims of extreme weather. This is because rich nations want developing nations to cut down emissions in the coming decade to meet climate targets under the Paris accord. The deal will ensure …

Historic compensation fund approved at UN climate talks
2 years, 1 month ago

Historic compensation fund approved at UN climate talks

Deccan Chronicle  

Sharm El-Sheikh: Negotiators early Sunday approved a historic deal that would create a fund for compensating poor nations that are victims of extreme weather worsened by rich countries' carbon pollution, but an overall larger agreement still was up in the air because of a fight over emission reduction efforts. This is how a 30-year-old journey of ours has finally, we …

COP27: Who will pay for climate ‘loss and damage’ fund?
2 years, 1 month ago

COP27: Who will pay for climate ‘loss and damage’ fund?

Al Jazeera  

Countries agree to set up a new fund but details are still to be worked out on who would contribute to the fund and who would benefit. The UN climate summit agreed on Sunday to set up a “loss and damage” fund to support poorer countries being ravaged by climate impacts, overcoming decades of resistance from rich nations who contribute …

Biden agrees to pay climate reparations: US will compensate developing countries for global warming
2 years, 1 month ago

Biden agrees to pay climate reparations: US will compensate developing countries for global warming

Daily Mail  

The nations involved are largely from Asia, Africa, Latin America, the Caribbean and the south pacific Joe Biden says the US will sign-up to a UN-backed fund to pay reparations to developing countries worst-affected by climate change. Last year, Biden was granted $1 billion to help developing countries tackle climate change, although it's unclear if that cash will go into …

COP27 | U.N. climate talks poised for deal creating ‘loss and damage’ fund
2 years, 1 month ago

COP27 | U.N. climate talks poised for deal creating ‘loss and damage’ fund

The Hindu  

Delegates at the U. N. climate conference in Sharm El-Sheikh continue to negotiate a final agreement, with the latest draft suggesting the creation of a fund to compensate a section of developing countries for the damage already done by disasters linked to climate change. “This is how a 30-year-old journey of ours has finally, we hope, found fruition today,” said …

Science-Wise: No COP27 for Poor Nations? Silence on Phasing Down Fossil Fuels May Delay Climate Action
2 years, 1 month ago

Science-Wise: No COP27 for Poor Nations? Silence on Phasing Down Fossil Fuels May Delay Climate Action

News 18  

After two weeks of intense negotiations among 190 nations to finalise a strong global climate deal, the 27th United Nations Climate Summit — COP27 — is finally drawing to a close. It has been over a decade since the rich nations, who continue to emit and disproportionately consume the global carbon budget, committed to providing $100 billion a year to …

Vulnerable countries demand progress on climate change loss and damage fund
2 years, 1 month ago

Vulnerable countries demand progress on climate change loss and damage fund

The Independent  

Sign up to the Independent Climate email for the latest advice on saving the planet Get our free Climate email Get our free Climate email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Small island developing states will no longer stand for delay on loss and damage finance Molwyn Joseph, Aosis chairman …

African nations push for funding to adapt to climate change
2 years, 1 month ago

African nations push for funding to adapt to climate change

The Hindu  

Battling droughts, sandstorms, floods, wildfires, coastal erosion, cyclones and other weather events exacerbated by climate change, the African continent needs to adapt, but it needs funds to do so, leaders and negotiators from the continent said at the U.N. climate summit. Mr. Shitima said the summit “should provide solutions to the millions of people in the continent,” adding that Africa …

Cop27 loss and damage: Fight over human harm, huge climate costs
2 years, 1 month ago

Cop27 loss and damage: Fight over human harm, huge climate costs

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. “Loss and damage is going …

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