With severe climate impacts for the most vulnerable countries on the rise, adaptation is no longer sufficient. Significant loss and damage must be accounted for. This discussion paper looks at how financing for loss and damage should be governed and what institutions, approaches and methodologies are necessary.
Marrakech was never going to write history on loss and damage in the same way that Paris did in 2015. Whilst the progress made in the Paris Agreement was tangible at Marrakech, rich countries didn’t allow a real breakthrough yet. The Marrakech talks did, however, lay some groundwork for future progress.
At the UN climate summit in Morocco from November 7 - 18 (COP 22), the global climate community aims to breathe life into the Paris Agreement. However, the real discussion about the most contentious points, including finance and what to do with loss & damage, begins only now in earnest.