Sharm el-Sheik, Egypt
The Sunday Review

The world has seen a glimpse of the past week. climate-vulnerable countries Have known for a long time: While rich, countries Reverse your position to Your support is appreciated climate They are the ones who take action are It is far less popular than expected. to Spend more on the cash

At the UN’s COP27 climate Summit, United States, European Union, and United Kingdom are We are united in our opposition to the establishment of a new fund for this year to help The world’s developing nations – which have contributed little to the climate crisis – recover from climate disasters.

A loss and damage fund can be created. key issue At COP27 “the litmus test for success” Erin Roberts said that the summit was a success. climate Loss and Damage Collaboration founder and policy researcher.

As it stands, development countries – which have for years pleaded for loss and damage funds – are facing disappointment.

Three days remain in negotiations, and frustration is sweeping the Red Sea resort of Sharm el-Sheikh. This is where the conference is taking places. Activists are Demonstrating daily, more violent protests outside of the negotiation rooms. In the largest protest at the summit, hundreds marched through the conference venue demanding riches. countries to Get them to get it together “pay up.”

However, high-level negotiations are not able to convey this message.

The Sunday Review received a statement from an EU source that was directly involved with the summit’s negotiations. on Tuesday that the bloc doesn’t believe there should be a binding agreement on A new loss and damage fund, before the details of its operation are Acceded on.

According to the source, the EU thinks that the COP27 agreement could contain an agreement that addresses the work requirements to Do it on The issue By 2024, a solution will be available.

Similar to the UK, the document was submitted by the government. to The conference says it wants to Set up a “process” That would be the end. to At the earliest, a concrete solution will be available in 2024.

Only senior US officials from the administration have committed this crime to We have had a conversation about damage and loss but we did not go any further to Please explain the type of fund they would eventually support. They also see 2024 as the deadline to reach an agreement. on Loss and damage are not supported by the current proposals. They fear it could lead to open-up for developed countries to Legal liability in the next years

Pressed on Open to what type of loss and/or damage fund the US would have toIn fact, the officials have repeatedly declined to say. They want. to Take the next two years to Do not be afraid to ask these questions. to An agreement was reached this year.

US spokesperson climate John Kerry, the envoy, did not respond to You can submit a comment.

The push for delay by some of the world’s richest countries This means that they are The worst affected by climate Change are You are already preparing for disappointment.

“I don’t want to leave COP27 empty handed,” Shauna Aminath, the Maldives’ minister of environment said an event at the conference on Tuesday. “Agreeing to work on something that will be established in 2024 is leaving empty handed.”

It was a great success, so loss and damage were added to the official agenda of COP27 and developed nations. are Holding wealth countries’ feet to The fire and pushing for a binding agreement this year.

Negotiations on The issue According to summit-goers, they were packed and dragged late into this week’s evenings.

But developed countries are Slow walking is the best. issue – many want to Take the next two years to Consider possible solutions. Submit a proposal to make a decision by 2024, which doesn’t guarantee an official funding arrangement.

Amid a tough economy, US and EU leaders worry they won’t be able to get this funding passed through legislatures at home, where they’re already facing an uphill battle to Mobilize more money to Fulfill climate Finance commitments

But Aminath said she doesn’t believe the reluctance to Loss and damage must be addressed to Lack of finance

“We saw that trillions were mobilized to address the global health emergency” She said that during the pandemic she was able to and “we are seeing trillions being spent to help Ukraine.”

Representatives from the vulnerable countries also told The Sunday Review they’re frustrated by wealthy nations’ calls for more analysis and mapping, which would cost money that could otherwise go to Addressing loss and damage.

“They wanted to show their electorates that they are doing something when in fact they’re not,” The Sunday Review spoke with Michai Robson, loss and damages finance lead for the Alliance of Small Island States. “They’re putting money into, for example, research departments, as opposed to actually putting funding for specific responses to all the loss and damage that we face.”

Robertson expressed optimism despite the dire outlook. countries Be united and determined. They must remember that what they really want is not to be divided. to Stay stuck in an endless cycle of climate No action taken by developed nations to prevent disasters, devastation and more debt countries.

“We don’t want just an opportunity to survive; we want opportunity to thrive,” He stated.

Scientists said the human-made climate crisis intensified the rainfall in Pakistan this summer, where floods killed more than 1,500 people and plunged the country into crisis.

The announcement by Germany earlier in the week of a Global Shield initiative, which was intended to reduce loss and damage, marked a turning point for both loss and damage. to help vulnerable countries Deal with the damage and loss caused by the climate crisis.

Flood-ravaged countries Like Pakistan, Bangladesh, and the Philippines, they will be among the countries to You will reap the benefits of it once funding begins to be paid in the early part of next year.

The funds have been committed to While the initiatives were relatively large, they still pale in comparison to The devastation they have caused countries They have endured.

The World Bank, for instance, estimated that Pakistan would require a minimum of $1.5 billion last month. “at least $16.3 billion” for reconstruction after this summer’s deadly floods. Global Shield had received approximately $216 million in total commitments as of Monday.

Its underlying focus has also been criticised. on Insurance and prevention of future loss and damage is better than direct funding to address the disasters that have already – and recently – occurred.

Svenja Schulze, German Federal Development Minister, stressed that the initiative was not only for Germany. to — not a replacement of — an official UN loss and damage fund.

“That was a good start, but it is also just a start,” Schulze stated Monday at a news conference that loss and damage had been highlighted. “a highly contentious issue.”

“I am glad that we, the international community have finally come to say yes, there is climate-related loss and damage,” Schulze.

Julie-Anne Richards, an independent expert and consultant with the Loss and Damage Collaboration said that the Global Shield design is problematic.

“They’re facing all these climate risks because rich countries like Australia and the US caused the climate problem, yet now they’re outsourcing dealing with it to vulnerable people, saying ‘it’s your responsibility to take out insurance,’” Richards spoke to The Sunday Review.

Richards expressed concern that countries are You might spend more time, money and effort creating a system that is not possible. to Scale to The problem facing the planet. Vulnerable countries are Already, their islands are sinking into the ocean. Food and water supplies are rapidly decreasing due to drought and homes being inundated by floodwaters.

“The loss and damage finance facility needs to be set up in such a way that it provides grants, it doesn’t lead to more debt, and doesn’t shift responsibility onto vulnerable countries,” Richards said. “So we need new money because of the scale of the problem. The climate impacts that we’re facing are significant, and it needs significant finance.”