The Need for a Robust

Loss and Damage

Finance Facility

By Sam Goodman and Adrián Martínez
17 / 10 / 2022
Image credit: Stuart Roldán

Last year’s climate conference in Glasgow was the closest advocates have come to establishing a UNFCCC finance facility for loss and damage, although it was ultimately blocked in the final hours of the negotiations. The issue will likely take center stage once again this November at COP27 in Sharm el Sheikh, Egypt.

Los/as negociadores/as deben impulsar un mecanismo sólido y sostenible que incorpore un enfoque basado en los derechos humanos. La financiación por las daños y pérdidas debe distinguirse del carácter voluntario, imprevisible y transitorio de la ayuda humanitaria. El despliegue de la ayuda humanitaria para hacer frente a las daños y pérdidas derivados de los fenómenos meteorológicos extremos es lamentablemente insuficiente para hacer frente a la magnitud del problema.

A loss and damage finance facility must be built on principles of climate justice and address rich nations’ “fair share” of payments based on historical emissions rather than a simple moral obligation. Moreover, loss and damage finance must be a clean break from the neocolonial framework that has dominated the development world for decades.

In English below and in Spanish here.

Read the full paper here: