APMDD reaction to the outcome of the Fourth Meeting of the Transitional Committee on Loss and Damage Fund

PRESS RELEASE: October 21, 2023

In the early hours of the morning on October 21, the Fourth Meeting of the Transitional Committee preparing proposals for COP 28 on the Loss and Damage Fund ended without arriving at consensus on any recommendations.  This was supposed to be the last meeting of the Transitional Committee. Instead they decided to hold a fifth meeting on November 3 to 5 to make another attempt.

Lidy Nacpil, APMDD Coordinator, said: “The failure to arrive at a consensus is a result of the deep divide between developed and developing country representatives in the Transitional Committee on fundamental elements of the nature of the Fund.  We commend the developing country governments for standing up to developed country governments’ insistence, led by the US, to design the Fund based on a narrow mandate and place it under the control of the World Bank.  The World Bank is an institution whose governance structure is controlled by the US and other  countries of the Global North, has had a long history of financing fossil fuels and other harmful projects, and promoting neoliberal economic conditions that have led to deeper inequalities and poverty in countries of the Global South.”

“While we decry this failure to deliver outcomes for the establishment of an urgently needed Loss and Damage Fund,  it is unacceptable to be saddled with a Loss and Damage Fund that will not really serve the interests of the people of Global South.”

“We condemn the blatant maneuvers and refusal of  the governments of the US, the EU and other countries of the Global North to meet their obligations to pay reparations for historical and continuing harms and injustices.  Financing to cover Loss and Damage in the South is part of this reparations.”

“We demand a Loss and Damage Fund that is an independent institution under the guidance of the UN Framework Convention on Climate Change, with a democratic governance structure, robust mechanisms for involvement of affected communities and civil society organizations, and adequately and properly funded by the Global North who owe the South a huge climate debt.”

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