By Faridat Salifu
Implementation of the Loss and Damage Agreement has continued to occupy the global space as the COP28 fast approaches.
Recommendations regarding the fund’s structure, governance, and funding are expected to be presented at the upcoming COP28 in Dubai, United Arab Emirates.
In Nigeria, different stakeholders have been calling on the federal government of Nigeria to present a decisive front as the attend the world event.
Also, environmental bodies are in top gear preparation to make presentations as to how the loss and damage finance should work in relation to climate debt.
There is therefore, the need understand the provisions of the loss and damage fund, which is rooted in principles of climate justice and lessons from the GCF.
1) The fund should prioritize quick establishment and release of small grants by the end of 2024, with simple rules for access in consultation with relevant stakeholders.
2) Engage in a learning-by-doing approach, treating initial allocations as experiments and pilots, while working with researchers and community-based organizations to document experiences and effectiveness.
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3) Aim to involve a broader range of organizations, such as non-governmental organizations (NGOs) and local communities, in accessing the funds, ensuring that communities are actively engaged in decision-making for better climate outcomes.
4) The fund should ensure that applications for funding are straightforward and quick to assess, with tailored processes for responding to different types of climate events.
5) Consider adopting clear and simple proposal requests without overly technical language, drawing lessons from effective and streamlined systems utilized in other climate-focused initiatives.
6) Funding decisions should be guided by principles of climate justice, focusing on need, vulnerability, and human rights, rather than solely on bankability or potential for financial returns.
It also provides that the fund should refrain from imposing restrictive eligibility criteria, acknowledging the complexities of defining vulnerability and avoiding the need to demonstrate ‘additionality’ that has been problematic in the GCF.
7) Ensuring equal representation by both low- and high-income countries within the fund’s board, and additional measures to enhance equitable participation, are vital to uphold principles of fairness and inclusivity.
8) Acknowledge the importance of civil-society participation, granting greater authority to address human-rights and gender concerns, as well as environmental considerations within the funding decision-making processes.
Implementing these recommendations will help to establish an effective and equitable loss-and-damage fund, with a commitment to supporting communities coping with the impacts of climate change.
It is an opportunity to honor the legacy of late Saleemul Huq, a champion for the loss and damage fund, decades before it was established.
