The 27th United Nations Climate Conference (COP27) in Sharm el-Sheikh, Egypt, concluded last weekend with one of the reached agreements establishing a funding mechanism to assist developing countries in responding to the loss and damage from climate change.

Governments also agreed to establish a “transitional committee” that will make recommendations on how to operate the funding arrangements and the loss and damage fund at COP28 next year. The committee is expected to meet for the first time before the end of March 2023.

Greenpeace Indonesia director Leonard Simanjuntak said a loss and damage funding mechanism was long overdue as for 30 years of climate conferences such proposals have usually been blocked by historic emitters countries.

“This is an acknowledgement that the [developed countries] have to compensate smaller and poorer developing countries who had had to bear the impacts despite not being the main contributor to the climate crisis,” Leonard said on Nov. 22.

However, he said that the situation might be tricky especially in regards to China, a country with a large economy but is still categorized as developing, while smaller and poorer developing countries in Asia and Africa would likely be prioritized for the loss and damage funding.

“I imagine that Indonesia theoretically would be eligible [to receive loss and damage funding] but might not be exactly high up on the priority list,” Leonard said.

Popular

Calls for reform grow ahead of Prabowo’s state address

Indonesia at 81: Whose sovereignty are we celebrating?

10 foreigners arrested, Rp 7.79b seized as police raid Batam casino