The need for increased support is particularly urgent given the IPCC findings that losses and damages are being experienced now, that they are projected to increase and that even effective adaptation will be unable to prevent all losses and damages.
et with a standing ovation, the 28th United Nations climate summit (COP28) in Dubai saw the first big breakthrough early this month: The world agreed on a loss and damage fund to compensate poor countries hit by deadly flood, hurricane, heatwave and drought.
This means wealthy states and major polluters will put millions of dollars allocated for the most marginalized and vulnerable but least responsible for the destruction. There is a moral imperative to act on climate-related loss and damage experienced today, for the wellbeing of present and future generations.
The initial commitments amounting to US$430 million will be administered by the World Bank.
The term “loss and damage” generally means the negative consequences of climate change on human societies and the natural environment. It occurs despite mitigation and adaptation efforts. While mitigation addresses the causes of climate change (like reducing greenhouse gas emissions) and adaptation addresses its impacts (like building sea walls to prevent flooding), loss and damage is concerned with the unavoidable and irreversible impacts of the climate crisis.
It has been a central issue in the global climate negotiations at the Conference of the Parties to the United Nations Framework Convention on Climate Change (UNFCCC), with developing countries, particularly small island developing states (SIDS) and least developed countries (LDCs), being strong advocates for greater action and support to address the negative impacts of climate change.
A robust assessment of losses and damages was featured in the recent Intergovernmental Panel on Climate Change (IPCC) Working Group G II report, representing a major step forward in recognizing the negative impacts and future risks of climate change. The assessment provides strong support for increased action and support for loss and damage, urgent mitigation to limit global warming to 1.5 degrees Celsius, and more extensive adaptation.
The report supports the ongoing advocacy from developing countries that the UNFCCC and developed countries must do more to address loss and damage, including through providing new and additional finance. The need for increased support is particularly urgent given the IPCC findings that losses and damages are being experienced now, that they are projected to increase and that even effective adaptation will be unable to prevent all losses and damages. Adaptation and mitigation are not enough to prevent losses and damages, these need separate and additional support and finance.
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