London – The LDC Group, representing 46 of the poorest countries of the world, has said that they are disappointed that the proposed Glasgow Loss and Damage Facility is not included in the final decision.
“Our people are already experiencing a mounting onslaught of loss and damage caused by climate change. We heard widespread recognition of this injustice, yet there was a failure to address it. Ensuring our communities are supported in addressing the loss and damage that the climate crisis inflicts on them remains a top priority,” the Group said in a statement after the conclusion of COP26.
“While we are disappointed about loss and damage, there is now recognition and the start of dialogue on finance as a COP decision. This is a big step and we look forward to ensuring the next goal reflects the actual needs of vulnerable developing countries, based on science. We were also pleased with progress made on the Global Goal for Adaptation,” the statement said.
The Group, however, said they are encouraged by the commitment made by developed countries in Glasgow to double the provision of finance for adaptation by 2025. The needs of our countries and communities to adapt to the growing impacts of climate change outstrips even this commitment, but it is progress.
The LDCs are most vulnerable to climate change but contribute the least.
Following the closing plenary, Chair of the LDC Group Sonam P. Wangdi said, “We have come a long way in Glasgow to ensure ambitious global action to address the climate change. We are appreciative of the leadership the UK has shown in bringing parties together to reach this outcome.”
We have to acknowledge the final decision is far from enough to match the scale of the crisis and to meet the needs of our countries. We will leave Glasgow knowing that progress has been made, he added.
The text acknowledges that more needs to be done. It requests countries to come forward with new climate targets ahead of the end of the next year that are in line with 1.5°C. We must continue to scale up ambition until the 2030 ambition gap is closed. This is what the science requires of us. We look forward to seeing these updates next year, the press statement said.
“In Glasgow, we have fought hard to ensure market mechanisms deliver true environmental gains, while also supporting vulnerable countries to meet their adaptation costs. The remaining carbon budget does not have space to carry forward old emission reductions credits, and we are disappointed the rules do not reflect this,” said Mr Wangdi.
“This next year will be critical in setting the trajectory for the decade. Increased ambition in mitigation, adaptation, and climate finance remains an urgent priority. We are running out of time and the work is not yet done,” he added.
Finance – a contentious issue
Finance was a contentious issue during the conference. In 2009, developed nations made a pledge to provide $100bn per year to developing countries by 2020.
It was designed to help developing nations adapt to climate effects and make the transition to clean energy. But the target was never met.
Mr Sharma said that around $500bn would be mobilised by 2025.
During the global meet, poorer countries had been calling throughout the meeting for funding through the principle of loss and damage. The demand was made on the premise that richer countries should compensate poorer ones for climate change effects they are unable to adapt to.
The parties have, however, agreed to continue talks on loss and damage.