Steps towards closing the Loss&Damage finance gap
This paper emphasizes the urgency for tangible action in dealing with Loss&Damage (L&D) and highlights, that in 2019 we still face a lack of adequate action and support for L&D under the UNFCCC. Seven technical and political challenges with regard to climate finance for L&D are identified. The paper shows that where international climate diplomacy doesn’t ad-vance fast enough to support the already affected people, they start to take the legal avenue to address the problem of L&D.
The paper concludes with the need for a finance facility for L&D and formulates key steps on the way to its establishment and provides concrete recommendations for decisions that need to be taken at COP25. With the aim to eventually set up a finance facility for L&D, the COP25 needs to agree on
1) A COP decision to establish an ExCom expert group on action and support.
2) A COP decision on ExCom priorities for 2020 to strengthening their engagement towards closing the L&D Finance gap.
This policy brief is part of a more comprehensive process to address questions around L&D finance. It is a first version and serves as input to COP25 and as a starting point for discussions. Comments are welcome. Please contact firstname.lastname@example.org and email@example.com.
Coordinator - Climate Foreign Policy and G7