- The Loss and Damage Fund announced at COP27 was hailed as a victory for those fighting for decades for climate damage.
- The meeting by the Transitional Committee (TC) was held in Aswan, Egypt from October 17 to 20.
A meeting on climate 'loss and damages' on Saturday ended in failure after countries from the Global North and South were unable to reach agreements.
The meeting by the Transitional Committee (TC) was held in Aswan, Egypt from October 17 to 20.
It was aimed at drafting the recommendations for COP28 to operationalize the Loss And Damage Fund.
At Cop27 in Sharm el-Sheikh, leaders tasked the committee with working out what a new loss and damage fund for climate victims should look like and present their proposals to Cop28 in November.
The Loss and Damage Fund announced at COP27 was hailed as a victory for those fighting for decades for climate damage.
COP 28 President-Designate Sultan Al Jaber addressed the 24 members of the committee on Friday last week which was the last official day of the talks.
Despite going into overtime and several rounds of breakout and plenary discussions, the fourth meeting of the Transitional Committee ended with no outcome.
The discussions by the committee hit a hurdle over where the funds should be held.
There was a divide over the funds being managed by the World Bank which the Civil Society Organisations accused of being in the hands of the West.
Head of global political strategy for Climate Action Network International Harjeet Singh said the failure is a clear indication of the deep chasm between rich and poor nations.
"Developed countries must be held accountable for their shameless attempts to push the World Bank as the host of the loss and damage fund, their refusal to discuss the necessary scale of finance, and their blatant disregard for their responsibilities under the UN Climate Change Convention and the Paris Agreement," he said.
Singh said behind closed doors, developed nations not only attempted to fracture the solidarity of developing countries but when unsuccessful, brazenly asked even the poorest nations to contribute to the fund.
He said the results are beyond a mere breakdown of talks as it is a direct betrayal of vulnerable communities around the world.
"The historical responsibility of developed nations, who have contributed most significantly to the climate crisis, cannot be overlooked," Singh said.
"They must step up, own up, and pay up for the harm done to poorer countries. If not, we risk not only the failure of the Loss and Damage Fund but also irreparable damage to the future of our planet and its people."
Antigua and Barbuda's ambassador to climate change Diann Black Layne said it feels like the fund being designed fits into the World Bank and not for loss and damage
"If the World Bank is an option that is not negotiable, then stop negotiating. We don’t need to talk about that here for developed countries to go to Washington and form the fund," Layne said.
The Committee however resorted to reassembling in Abu Dhabi for an extraordinary session in early November to try to reach an agreement prior to the COP28 summit.
The meeting was held ahead of the COP 28 scheduled for November 30 to December 12 in the United Arab Emirates, Dubai.