Negotiations for climate “loss and damage” failed at a decisive meeting in Aswan, Egypt. However, an agreement in principle had been reached the previous year at COP27 in Egypt for the creation of a fund to compensate for the “loss and damage” suffered by Southern nations vulnerable to climate change. However, many details remained to be worked out, such as its exact form, the beneficiary countries and the contributors, notably China, which the Western countries hoped to involve.
The challenge of creating the fund
The transition committee responsible for setting up the fund met late into the night on Friday in Aswan. Unfortunately, the delegates were unable to reach agreement. A possible decision has been deferred to another meeting scheduled for November 3-5 in Abu Dhabi, United Arab Emirates.
The President of COP28 urged negotiators to reach an agreement before the Dubai conference, stressing its importance. In his view, “it is possible to resolve all the outstanding issues”. He warned the members of the transition committee that “the eyes of the world are on you to come up with clear, crisp and solid recommendations before COP28, to implement the ‘loss and damage’ fund and determine how to finance it”. He stressed that billions of people vulnerable to the consequences of climate change depend on the implementation of these recommendations.
Issues and disagreements
Prior to this setback, discussions had stalled on a number of points, including the location of the fund. Some wanted to place it within the World Bank, but this option was criticized for its links with Western countries. Others argue in favor of a new, independent structure, but this would be complex to set up and finance.
This failure reveals the deep divide between rich and poor countries. According to Harjeet Singh, a senior official at the NGO Climate Action Network, developed countries must be held to account for their attempts to have the fund hosted by the World Bank, and for their refusal to discuss the amount of funding. They are also criticized for failing to meet their responsibilities under international climate agreements already signed.
Rachel Cleetus of the Union of Concerned Scientists added that this disappointing result was a major blow for populations suffering the consequences of climate change. She accused the United States and other rich countries of minimizing their responsibilities.
Final Analysis
The unsuccessful meeting on climate “loss and damage” ahead of COP28 underlines the difficulty of reaching consensus on crucial climate change issues. Disagreements between rich and developing countries persist, complicating the creation of a fund to compensate vulnerable nations for their losses. This situation highlights the importance of the forthcoming negotiations in Abu Dhabi and the challenge of dealing with the consequences of climate change for millions of people around the world.
