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Extreme weather events are increasing in intensity and frequency due to the impacts of climate change. Without appropriate intervention, Loss and Damage will be inevitable, despite efforts at adaptation, mitigation, and even disaster risk management. To understand how Loss and Damage financing will be discussed after the G20 Summit led by India and after COP27, the Indonesia Research Institute for Decarbonisation (IRID) and Germanwatch hosted a focus group discussion on 11 January 2022. The event aimed to gather information on different initiatives on Loss and Damage financing, including access modalities, challenges, and coping strategies.
Article 2.1c of the Paris Agreement stipulates the goal to align financial flows with climate goals. In 2017, the Multilateral Development Banks (MDBs) committed to supporting these efforts by aligning their financial flows with the Paris Agreement, i.e.
A ‘race to the top’ or global crawl? Despite global climate negotiations at COP27 and the G20 inching far too slowly towards the financial transformations we need to tackle climate change, country-level progress is being made. A common framework would help track that progress.
Since 2015, Germanwatch and NewClimate have collaborated in developing criteria to assess the compatibility of investments with global climate goals. This blog summarises some of our ideas and explains to what extent support for fossil fuels abroad jeopardises Germany's climate commitments and the Paris Agreement.
Germanwatch-Blogger:innen
Real name
Senior Advisor – Low-Carbon Strategies & Energy, Project Lead Climate IndicesReal name
Head of Division – German and European Climate PolicyReal name
Senior Advisor – Climate Finance and InvestmentsReal name
Policy Advisor – Development Banks and ClimateReal name
Senior Advisor – Climate Finance and AdaptationReal name
Head of Division – Corporate AccountabilityReal name
Senior Advisor – Agricultural Policy and World Trade | Project Leader – Climate-Friendly AgricultureReal name
Head of Division – Education for Sustainable Development, Promoter for Climate & Development in North Rhine-WestphaliaReal name
Head of Division – International Climate PolicyReal name
Senior Advisor – Climate and Development – IndiaReal name
Senior Advisor – Climate and Transport