Journey to Establish Climate Loss and Damage Fund Continues

At last year’s COP27 summit in Egypt developing nations celebrated a victory when they secured an agreement on the Loss and Damage Fund – something that had been advocated for for decades. Following that, a transitional committee composed of members from developed and developing countries were tasked with discussing what this fund would look like - from who would pay into this fund to where it would be located - ahead of a final decision being made at COP28 in Nov/ Dec 2023. After what has been described as "lengthy and heated negotiations" a draft framework for a new UN fund to help nations recover from the “loss and damage” caused by climate change has been agreed upon, though with the US remaining isolated and expressing dissatisfaction at the draft. What were the points of contention? What is in the three-part package proposal, presented as a "take it or leave it" text by the Co-Chairs? We speak to Meenakshi Raman, the President of Sahabat Alam Malaysia, and Head of Programmes at the Third World Network (TWN) to find out more.Image Credit: ShutterstockSee omnystudio.com/listener for privacy information.