ESTABLISHMENT OF THE #LOSSANDDAMAGE FUND: COP27
(22 November, 2022) Africans Rising for Unity, Justice, Peace and Dignity applauds the efforts of all civil society actors and stakeholders that tirelessly fought for the establishment of the Loss and Damage Fund; a key outcome of the just concluded Conference of the Parties of the United Nations Climate Change Conference (COP27) in Sharm El-Sheikh, Egypt.
For decades, rich and powerful countries who are the largest polluters had avoided calls to help the developing countries recover from the climate crisis for the fear that this move would open them to unlimited liability.
The set up of this fund comes as a great milestone and will provide financial support to developing countries facing loss and damage caused by climate impacts. This may take different forms such as: providing adaptation assistance, enhancing social protection, and reducing losses from extreme events caused by escalating global warming.
The fight for a #LossAndDamage fund has been a long one to which civil society, movements and activists have devoted significant energy and resources to ensure that those who pollute the environment pay. After several postponements and push-backs, the decision was finally made to establish such a fund. Even though the modalities of the fund are yet to be fully developed, this is a good sign of victory for peoples power to preserve the planet over profit. We must however remain vigilant and ensure that the framework to be developed for the implementation of this decision is not captured by the same bad actors. The systemic changes needed for a healthy earth remain unattended to.
Africans Rising welcomes this decision and is excited to see this historic agreement that provides an important mechanism for the world to respond to climate-related loss and damage, including the devastating impacts on food security, health, water, livelihoods and biodiversity.