still no financial deal on climate disaster ‘loss and damage’ fund

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A first agreement at the COP has just been concluded between the 196 States of the United Nations Conference on Climate Change. While the negotiations are supposed to end tomorrow evening Friday… so it’s a step forward… even if there are still major blockages.

with our special correspondents in Sharm el-Sheikh, Claire Fages et Jeanne Richard

The negotiating room exploded with joy at the announcement of the news: the States agreed on the “Santiago network”. It is a network of state experts, researchers, members of civil society, the creation of which had been decided at the COP25, in 2019, chaired by Chile. Hence the name Santiago network, named after the Chilean capital. So after three years of diplomatic exchanges on its operation, its financing and its objectives, the States are now acknowledging its creation.

Read also : our COP27 file

Its aim is to provide technical expertise to vulnerable countries that are powerless when a climatic disaster occurs. Help to cope with the damage caused by climate change. For example: organizing the relocation of coastal populations threatened by rising waters, and relaunching their economic activity after their move.

But this Santiago network only provides technical assistance. The sinews of war remains money, but there is still nothing in the loss and damage fund that would finance the actions recommended by the experts of the Santiago network. And in an attempt to move the issue forward, ministers from several countries arrived at the COP.

The European Union is not united on the subject: Germany is in favor of it, while France, Sweden and Denmark are opposed to it, as is the United States. The European Commission is trying to bridge the gap between the positions of one and the other.

« A number of countries, even the European Union in general, support the idea. But within Europe, the States have different positions, explains Harjeet Singh, head of global political strategy for the Climate Action Network, joined by Charlotte Cosset, from the Economy department. For example, Germany is much more focused on promoting a ‘global shield’ than supporting a new fund, Ireland is looking at the idea of ​​a fund more carefully, Denmark has been a forerunner, but now does not agree with the idea of ​​a fund, Sweden has shown much more resistance than in the past. And France continues to remain a blocker. She talks a lot more about early warning systems and supports less developed countries. And I see that it is positioning itself with force. France is really blocking at the moment. The United States is a little open to the idea, they are making progress but are not really at the point of agreeing to the establishment of a mechanism here at this COP. They continue to refer to existing systems. So there isn’t just one position, we’re seeing varying degrees of resistance right now. »

► Read also : The Climate Action Network’s red card to France

This fund is insistently requested by vulnerable countries… The island states doomed to disappear with the rise of the sea are even threatening to block any global agreement of this COP if this fund is not created.

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