COP29: Guterres Urges Countries to ‘Get Serious’ on Loss and Damage Funding
November 12, 2024
At the opening of the 29th United Nations Climate Change Conference (COP29) in Sharm El-Sheikh, Egypt, United Nations Secretary-General António Guterres has called on countries to “get serious” about providing funding for loss and damage caused by climate change.
Loss and damage refers to the negative impacts of climate change that cannot be avoided or adapted to, such as sea level rise, extreme weather events, and crop failures. These impacts are disproportionately affecting developing countries, which have contributed the least to global greenhouse gas emissions.
In his opening remarks, Guterres said that funding for loss and damage is “a matter of justice and solidarity.” He pointed out that the world has reached a “make-or-break moment” in the fight against climate change, and that it is time to “step up” and address the needs of those who are most vulnerable.
Guterres also stressed the need for urgent action on mitigation and adaptation. He said that countries must rapidly reduce greenhouse gas emissions and invest in renewable energy sources, while also implementing measures to adapt to the impacts of climate change that are already occurring.
The issue of loss and damage funding has been a contentious topic at previous COP conferences. Developed countries, which are historically responsible for most greenhouse gas emissions, have been reluctant to commit to providing financial support to developing countries for loss and damage.
However, there is growing recognition that loss and damage is a serious problem that requires urgent action. A recent report by the Intergovernmental Panel on Climate Change (IPCC) found that loss and damage is already occurring and is expected to increase in severity in the future.
The IPCC report also found that developed countries have a “moral and ethical obligation” to provide financial support to developing countries for loss and damage.
At COP29, Guterres urged countries to agree on a new financing mechanism for loss and damage. He said that this mechanism should be “predictable, sustainable, and scalable.”
Guterres also called on countries to strengthen their commitments to mitigation and adaptation. He said that developed countries must provide financial support to developing countries for these efforts, and that all countries must take urgent action to reduce greenhouse gas emissions.
The COP29 conference is scheduled to run until November 18. It is expected to be a critical meeting in the fight against climate change, and the issue of loss and damage funding is likely to be a key focus of the negotiations.
COP29: Guterres urges countries to ‘get serious’ on loss and damage funding
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