This report, published in the lead up to COP 27, demonstrates the long term effects of the climate crisis in low income and climate vulnerable countries. This includes exacerbating income and gender equality among other economic and non-economic loss and damage. The report makes several recommendations including
1. Rich countries must act urgently to scale up, release and operationalise flexible, principled and multi-year funding to meet the UN humanitarian appeal for Ethiopia, Kenya and Somalia. This funding must reach local organisations which are already working with communities to respond to the hunger crisis, including those led by women and youth.
2. Loss and Damage finance must be on the formal negotiations agenda at COP 27.
3. All Parties must agree to setting up a new financing facility to address loss and damage at COP 27.
4. Wealthy countries must scale up climate finance contributions in the form of grants and allocate additional funds to addressing loss and damage.
5. Developing countries must be granted automatic debt relief in the immediate aftermath of climate change impacts which culminate in disasters so that fiscal space is available to meet the immediate needs of those affected. These countries must be prioritised for debt renegotiation and debt cancellation.
6. The Warsaw International Mechanism (WIM) and the Technical Expert Group on Comprehensive Risk Management must recognise the role of social protection in addressing loss and damage and facilitate opportunities to learn more about climate resilient systems of universal and gender responsive social protection.
7. The WIM and G7 countries must shift from a focus on promoting climate risk insurance as a solution for citizens and countries in the global North to supporting adaptation and risk reduction strategies that include no-regrets, rights-based, scalable and national social protection systems that are equitably and predictably financed by wealthy countries in the global South. should shift focus from promoting private climate insurance to governments and citizens of counties in the Global South, to supporting adaptation and risk-reduction strategies that include no-regrets, rights-based, scalable, national social protection systems. These must be equitably and predictably financed by countries in the Global North.
8. Policies, practice and finance to address loss and damage must increase and enable women’s access to Loss and Damage finance, create space for women’s leadership and accelerate gender-transformative social protection policies and quality public services. In addition, women’s protection must be included in all action on Loss and Damage.