Positive Momentum at COP28 as Loss and Damage Fund Gains Immediate Support

UN Climate Conference in Dubai kicks off with notable contributions and a focused side event on operationalizing the Loss and Damage Fund.

Dubai, [Date]:
The first day of the United Nations Climate Conference, COP28, in Dubai witnessed a promising start with immediate contributions to the Loss and Damage Fund by key donors. The side event organized by The Energy and Resources Institute (TERI), titled ‘Operationalizing the Loss and Damage Fund with Equity and Efficacy,’ addressed critical challenges and explored solutions for establishing an effective fund.

In-Depth Exploration of Challenges:
The event delved into political, financial, and scientific challenges related to the Loss and Damage Fund. Ms Suruchi Bhadwal, Director of TERI, emphasized the pivotal role of the scientific community in understanding the complexities of Loss and Damage.

Insights from Experts:
Scientists and researchers, including Ms Christine Shields and Mr Amlan Mishra from TERI, presented insights on scientific and technical challenges, as well as financial and governance challenges surrounding Loss and Damage.

Panel Discussion Highlights:
A moderated panel discussion, led by Mr RR Rashmi, discussed key aspects of the fund, addressing who pays, who is covered, and how losses are estimated. Experts from civil society and academia shared perspectives, emphasizing the need for prioritization and an inclusive resource allocation framework.

Global Reaction:
Mr Harjeet Singh, Head of Global Political Strategy at Climate Action Network International, expressed relief at the progress made, emphasizing the importance of prioritization and resource allocation for addressing loss.

Calls for Speed and Automaticity:
Dr Anand Patwardhan, Professor at the University of Maryland, stressed the need for ‘speed and automaticity’ in addressing Loss and Damage, highlighting the inadequacy of conventional project cycle methods.

Data Accessibility:
Dr Diana Francis, Professor at Khalifa University, emphasized the importance of open data access, both on the ground and through satellites, to enable scientific communities to address the impacts effectively.

Path Forward:
The panel discussion concluded with diverse insights laying the foundation for informed decision-making and proactive measures. The emphasis on prioritization, inclusivity in data access, and the indispensable role of science emerged as key takeaways.