Green Piece: Concerns persist around Loss and Damage Fund’s implementation

For those of us in India, even the rest of the developing world, the path is clear : we cannot afford to stop speaking out loud and clear so the most vulnerable among us can fight back climate change with optimism and resources

The climate negotiations, COP28, in Dubai are almost over. For me, there is something to celebrate as well as worry about. I celebrate that the long standing demand for a Loss and Damage Fund has been finally signed, after loud advocacy and behind the scenes negotiations. This deserves at least a happy acknowledgement.

Concerns remain over the implementation of the Loss and Damage Fund even after being approved after negotiations at COP28. (AP)

But this is only the first step. Many people present here, including myself, worry about how this will be operationalised. First, where will the incremental funds come from, given the lack of appetite from the developed world and also the funders? Second, what conditionalities will we have to negotiate, as the developing world, to access these funds? Who will be able to use this money and for what? And third, how will the Loss and Damage Funds be replenished? Given the scale of climate damage, they will be used up, and will need to be topped up.

None of these questions can be answered, because the responses are not yet fully clear. Despite the hesitation to fund the developing world, the developed world’s actions in future years will be based on the pressures they face. These could be their own climate crisis, pressure from their own people, global pressure and of course, strong developing world negotiations. For those of us in India, even the rest of the developing world, the path is clear : we cannot afford to stop speaking out loud and clear so the most vulnerable among us can fight back climate change with optimism and resources.