Developing nations urge for a ‘Loss and Damage Finance Facility’
June 6, 2022ALL-PARTY SUPPORT FOR AFRICA’S NEED AND SPECIAL CIRCUMSTANCES, PACJA STATES AS THE FIRST WEEK OF DEBATES AT SB56 COMES TO A CLOSE
June 10, 2022Reacting to the session on loss and damage, Charles Mwangi, the Acting Executive Director, PACJA, reminded negotiators that the 1.5C Report of 2018 issued by the Intergovernmental Panel on Climate Change (IPCC) asserts that “residual risks” will rise as temperatures increase. The report further ranks Africa as the most vulnerable continent, with foreseeable catastrophes like those seen in Malawi, South Africa, Mozambique, and Chad, amongst other African nations.
PACJA believes that the establishment of a special finance facility for loss and damage response is in line with article 8 of the Paris Agreement.
“These finances for loss and damage should be predictable in quality and quality and should be separate from the Adaptation Fund and the GCF,” they said.
The African CSOs equally lent their voice to the call for the establishment of a dedicated “Loss and Damage Finance Facility” and relaxation of several complexities barring access to the Green Climate Fund (GCF) made earlier today by Developing countries under the banner of G-77.
To download the reaction statement to the discussions on loss and damage, click here to download
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