EGYPT (October 20, 2023) – The fourth meeting of the Loss and Damage Transitional Committee failed to reach consensus on recommendations for addressing loss and damage from climate impacts, including how to design the Loss and Damage Fund that was established last year at COP27. The Committee will  reassemble in Abu Dhabi  for an extra-ordinary session in early November to try to reach agreement prior to the COP28 summit. 

Following is a statement from Preety Bhandari, Senior Advisor in the Global Climate Program and the Finance Center, World Resources Institute:

“Yet again, developed and developing nations failed to bridge deep divides over how to help communities grappling with losses and damage from increasingly severe climate impacts. The meeting concluded with widely divergent views on three fundamental questions: who will host the Loss and Damage Fund, which nations are eligible and who must pay into the fund. 

“If committee members cannot reach common ground at the final gathering in Abu Dhabi next month, we are destined for very rocky negotiations in Dubai. The entire COP28 negotiations could get derailed if developing countries’ priorities on funding for loss and damage are not adequately addressed. 

“The bottom line is that the Loss and Damage Fund will only be meaningful if it fits the needs of communities that are bearing the brunt of climate impacts by providing financial support that is new, additional, predictable, accessible, adequate, and rapid. Climate change threatens all developing countries so they all should be eligible for this fund, while least developed countries and small island states deserve special consideration for support. 

“Whether or not the Loss and Damage Fund becomes fully operational is a key measure of success for the COP28 summit. Negotiators must go above and beyond to reach consensus and finally provide support for communities grappling with floods, droughts and other climate disasters.”