Climate activists have urged the Transitional Committee of the Loss and Damage Fund to ensure that its first meeting which began on Monday in the Egyptian desert city of Luxor, lay a strong foundation for the operationalisation of the fund by COP28.
The Executive Director of Climate Action Network International, Tasneem Essop, said: “Following the historic agreement at COP27 to create a Loss and Damage fund, it is now time for the transitional committee meeting in Egypt to get the ball rolling and make this a truly progressive, transparent and accountable fund to urgently respond to the needs of those on the frontline of the climate crisis.
“This means ensuring the first meeting by the committee is constructive and efficient with a view to progress towards the operationalisation of the fund by COP28.”
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Also, Harjeet Singh, Head of Global Political Strategy, Climate Action Network International said: “Governments this week in Egypt for the first Transitional Committee meeting on the Loss and Damage Fund must build on the success from COP27 where countries came together to agree on the need for and importance of this fund.
“Working on the technical building blocks of the fund requires setting up robust governing arrangements right from the onset so the fund is fit for purpose and can swiftly disburse much-needed finance to vulnerable communities on the frontline of the climate crisis.”
The transitional committee is composed of a small group of individuals. It brings together 24 people from Parties to the Paris Agreement and UNFCCC who have been thoughtfully matched up based on location and wealth.
Story was adapted from Enviro News