COP27: Proposals for climate compensation payments to poorer countries

At the world climate conference, there is apparently movement in the dispute over compensation payments to poorer countries for climate-related damage.

COP27: Proposals for climate compensation payments to poorer countries

At the world climate conference, there is apparently movement in the dispute over compensation payments to poorer countries for climate-related damage. After deliberations last night, the participants from around 200 states presented a five-page draft with three possible concrete steps on the topic.

Mentioned are the immediate establishment of a new fund, alternatively the establishment of a new fund at the next climate conference in Dubai at the end of 2023, and a more general "financing agreement".

With the draft, an agreement on the biggest point of contention at this year's conference seems at least possible. The concept of damage and losses is used to discuss how the consequences of climate change can be shouldered together in poorer countries, which have often contributed less to the damage. More than 130 of the approximately 200 participants call for the permanent establishment of a financial pot.

The paper speaks of the "urgent and immediate need for new, additional, predictable and appropriate financial resources" on the issue. This was intended to support developing countries that are particularly vulnerable to damage caused by climate change.

EU Climate Commissioner: "Mosaic of solutions"

EU Climate Commissioner Frans Timmermans made the offer in the plenum for a fund financed by a "broad donor base". The fund should be part of a "mosaic of solutions" that also includes looking at debt and reforming development banks. Equally important are advances in reducing climate-damaging emissions, Timmermans said. These measures and the issue of damage and losses are "two sides of the same coin".

"The conversation about damage and losses is overdue," said UN climate chief Simon Stiell. "We have heard encouraging statements about the willingness to be flexible and to find compromises," said the special representative for international climate policy at the Federal Foreign Office, Jennifer Morgan, who acts as one of two mediators on the issue.

Damage and losses not well defined

There is no precise definition of damage and loss. However, it is usually understood to mean damage from extreme weather events - such as droughts or floods - as well as from slow changes in the course of global warming, such as rising sea levels or desertification. It is about consequences beyond what people can adapt to, or about situations where the means to adapt are lacking.

The climate conference in Sharm el Sheikh officially runs until this evening. However, participants assume a possible extension into the weekend.

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