In a first, loss funding to be on agenda of COP27

NEW DELHI: For the first time in 28 years since the adoption of the UN climate convention, 194 nations agreed to include loss and damage funding on the official agenda of the UN climate summit (COP27) being held from November 6 to 18 at Sharm El Sheikh in Egypt.

- Jayashree Nandi

The development took place after 48 hours of what COP27 president Sameh Shoukry of Egypt described to be "herculean informal negotiations" till early morning on Sunday to push the issue on the formal agenda.

Finance for loss and damage is one of the main issues for India because of its vulnerability to climate change impacts. "This is an important development and it is something that India supports," said a member of the Indian delegation who declined to be named.

In an interview to HT on November 4, union environment minister Bhupender Yadav had said the climate negotiations have not been able to mobilise or deliver funds for loss and damage.

"These mechanisms are underfunded; accessing funding is cumbersome and time consuming; and most of the funding is for mitigation," he said. "Adaptation funding is highly inadequate, and loss and damage funding is perhaps none at all." The agenda item was proposed by the G77 group of countries and China, but there was considerable push back from developed nations. The agenda item was introduced with some riders.

"Matters relating to funding arrangements responding to loss and damage associated with the adverse effects of climate change, including focus on addressing loss and damage" will have footnotes stating that the outcomes are without prejudice to consideration of similar matters in the future and that the issue is based on cooperation and facilitation and do not involve liability and compensation.

The discussion agenda on loss and damage will launch a process with a view to take a conclusive decision no later than 2024.