How to address ‘loss and damage’ caused by climate change was for decades a highly controversial topic in the UN climate negotiations. But, over the last few years, it has gained significant ground. Most notable was the agreement reached at the COP27 climate summit in 2022, where governments decided to establish a fund (the Fund for Responding to Loss and Damage, FRLD) to help developing countries address the challenge. Two and a half years later, and following intense wrangling in a ‘transitional committee’ over its central features, the FRLD is now up and running. However, one fundamental question lingers over the institution: how will money for it be raised?
Taxing high-emitting sectors could help pay for climate-induced loss and damage (Anna Åberg – Chatham House)
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