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The United Nations Climate Change Conference COP27 closed Sunday with a breakthrough agreement to establish a loss and damage fund for communities living on the frontlines of climate disasters.
This decision follows three decades of climate-based negotiations. The agreement itself notes the “increasing urgency of enhancing efforts to avert, minimize and address loss and damage associated with the adverse effects of climate change”, particularly due to the impact of global warming on vulnerable populations and the ecosystems on which they depend.
The agreement also establishes a transitional committee to make recommendations for the operation of the new funding system. This committee will consist of 24 members, including required members from Africa, Asia and the Pacific, Latin America and the Caribbean, small island developing States and least developed countries.
Teresa Anderson, ActionAid International Global Lead on Climate Justice Teresa Anderson commented:
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This decision follows three decades of climate-based negotiations. The agreement itself notes the “increasing urgency of enhancing efforts to avert, minimize and address loss and damage associated with the adverse effects of climate change”, particularly due to the impact of global warming on vulnerable populations and the ecosystems on which they depend.
The agreement also establishes a transitional committee to make recommendations for the operation of the new funding system. This committee will consist of 24 members, including required members from Africa, Asia and the Pacific, Latin America and the Caribbean, small island developing States and least developed countries.
Teresa Anderson, ActionAid International Global Lead on Climate Justice Teresa Anderson commented:
COP27 also generated a draft agreement on climate change which notably omitted a comprehensive plan to target fossil fuel emissions.
The post UN to establish ‘loss and damage’ fund to aid countries affected by climate change appeared first on JURIST - News.
Continue reading...
Note: We don't have any responsibilities about this news. Its been posted here by Feed Reader and we had no controls and checking on it. And because News posted here will be deleted automatically after 21 days, threads are closed so that no one spend time to post and discuss here. You can always check the source and discuss in their site.