Several industrialized countries, including our country, have already pledged money at the COP27 climate summit in Sharm-el-Sheikh, Egypt, to meet the demand from vulnerable countries to cover loss and damage caused by climate change. This theme is one of the main negotiating points at the annual climate summit this year.
Denmark already announced an envelope of 13 million euros a few weeks ago. Our country announced on Monday that it would earmark 2.5 million euros of the total amount of 25 million euros for Mozambique specifically for loss and damage.
In addition, Germany has already pledged 170 million euros as part of the ‘Global Shield’ initiative, which aims to protect vulnerable countries from climate-related damage. Ireland has also promised to deposit 10 million euros in that fund.
In addition, Austria has made a commitment of €50 million for the next four years and Scotland is coming up with €7 million.
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“Ireland, Denmark and Belgium have pointed the way,” Gaston Brown, the Prime Minister of Antigua and Barbuda and chairman of the Alliance of Small Island States (Aosis), said Tuesday. It would be fair if the biggest polluters, especially those involved in the historical use of fossil fuels, followed suit.
The theme of loss and damage is an important part of the negotiations at the climate conference this year. This specifically concerns the damage already suffered as a result of climate disasters. For the first time, the theme is also explicitly on the agenda. Poor, vulnerable countries have been arguing for compensation in this area for some time, but the rich, industrialized countries have so far held back.
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