Marrakesh, 17 November 2016: Least Developed Countries, Most Vulnerable Countries and Small Island Developing States are experiencing the effects of climate change far quicker than originally forecast. Each year sees increasing flooding, more droughts, desertification, salination of agricultural land and extreme weather events like hurricanes so severe they are threatening the long-term future of some of the poorest countries.
“It is against this background that the failure of COP22 to reach vital decisions concerning finance which could help these countries to survive is so tragic”, said Azeb Girmai, LDC Watch Climate Lead. “We arrived in Marrakesh hoping for clear decisions coming out of the Paris Agreement only to find governments indulging in obfuscation and delay”.
She highlighted two vital cases:
The Road Map for the $100 billion. Delegates arrived in Marrakesh expecting to finalise the ‘Road map’ which would give developing countries more predictability in what finance would be available to help them plan climate actions and leverage more domestic finance. However no roadmap was agreed.
The Adaptation Fund: the Paris Agreement noted the need for adaptation funds, and again the intention was to discuss this in Marrakesh. Just before COP22 opened the Adaptation Gap Report (2016) reported that by 2030 adaptation costs would reach $140-300 billion annually, with the potential to be five times greater by 2050, so there is nowhere enough finance to support countries’ activities.
The Warsaw Mechanism for Loss and Damage was included in the Paris Agreement, with funding scheduled under the Adaptation Fund pillar, and a review scheduled for 2016. This review has been carried out, and it appears there is no new finance for this.