The agreement on the Loss and Damage Fund marks a positive start, now countries must deliver the finance to the vulnerable communities needs: WWF

Posted on 01 December 2023

Reacting to a UNFCCC report about the agreement on the loss and damage fund, Sandeep Chamling Rai, Senior Advisor of the Global Climate Adaptation Policy for WWF International said: 

 

“This marks a crucial and positive stride in the right direction. Operationalizing the Loss and Damage fund at COP28 through this decision is a significant achievement, and it's heartening to witness the initial funding pledged by a few countries. We are anticipating the participation of more nations in pledging funds by the end of COP28. There is no barrier for donor countries to pledge new funds for loss and damage. 

 

“The main concern now is ensuring that these funds promptly reach the vulnerable communities already grappling with loss and damage. The immediate next step necessitates the establishment of the Board for the Loss and Damage fund, with the World Bank serving as the interim host and trustee. In this critical juncture, there's no time for mere discussions; it's time for decisive action.” 

 

END

 

Notes to editors:

 

For interviews contact: 

Izrael Muhamad, Media Specialist, WWF International, imuhamad@wwfint.org
WWF International’s media team news@wwfint.org 

 

WWF and COP28

WWF’s COP28 expectations paper is available here, and all WWF’s COP information is here: www.panda.org/cop28.  Below is a summary of the essential outcomes:

 
  • Strong political signals to phase out fossil fuels no later than 2050, with developed countries achieving this sooner, including targets for renewables, energy efficiency and energy access.
  • A successful Global Stocktake, which: paves the way for unprecedented and immediate implementation of current NDC; strengthens international cooperation and other enabling conditions for stronger NDCs;
  • Full operationalization of the Loss and Damage Fund, with substantial pledges of new funds.
  • A decision on a comprehensive framework for the Global Goal on Adaptation.
  • Scaling up provision of public finance by developed countries to beyond $100 billion per year and doubling adaptation finance in line with needs of developing countries.
  • Alignment of all private and public financial flows with climate objectives
 

What’s Hot Newsletter: 

During COP28, WWF provides a daily “What’s Hot” newsletter with updates on the negotiations, news, announcements and press conferences. WWF has experts from a range of different countries who are available for interviews and briefings. Get in touch with us at cop28-comms@wwfint.org to subscribe to this newsletter. 

 

About WWF:

WWF is an independent conservation organisation, with over 30 million followers and a global network active in nearly 100 countries. Our mission is to stop the degradation of the planet's natural environment and to build a future in which people live in harmony with nature, by conserving the world's biological diversity, ensuring that the use of renewable natural resources is sustainable. We do this by promoting the reduction of pollution and wasteful consumption. Visit panda.org/news for the latest news and media resources; follow us on X @WWF_media and @climateWWF.