COP27: Experts call for adoption of damage financing as main agenda

In developing countries, which are vulnerable, extreme heat and floods have occurred in the same year, impacting agriculture and the economy

Ahead of the upcoming climate change conference (COP27) in Egypt, climate scientists urged world leaders to include loss and damage caused by climate extremes as part of the debate to ensure the vulnerable populations are protected.

Expressing concerns about loss and damage still being a provisional agenda item at the conference, experts noted that any country can veto the subject from the official agenda which would lead to the failure of the conference.

Speaking at a webinar, Prof Saleemul Huq, Director, International Centre for Climate Change and Development, slammed US presidential envoy for climate change John Kerry for opposing damage financing. "The US may do so (oppose the provisional agenda). In that case, the entire UNFCCC process is not relevant anymore. We have to make or break it. The Egyptian government is also aware of this. We have to keep our fight on," he said, adding that there was a need to name and shame those who oppose the process of damage financing.

Climate Trends, in its latest report, said 14 extreme weather events across the world this year, demonstrate that no country has been spared from their ferocity. "The majority of the Group of Twenty (G20) are reeling from the impacts that have wiped billions off global GDP. This is all the more significant given this group is responsible for over 80 per cent of the global greenhouse gas emissions, 75% of international trade and two-thirds of the world population," the report said.

In developing countries, which are vulnerable, extreme heat and floods have occurred in the same year, impacting agriculture and economy in general. Noting that the maximum number of insurance claims in India for 2020-21 were due to damages caused by Cyclone Amphan, the report stressed the need to secure commitments to new and additional dedicated loss and damage financing.

Harjeet Singh, Head, Global Political Strategy, Climate Action Network International, described the negligence towards damage financing as "injustice and violation of human rights". "It's about the greed and apathy of the rich countries and corporations who have handed death sentences to people who have not caused the problem in the first place. This is about climate justice," he added.