September 29, 2022

Denmark has simply promised 100 million Danish crowns (€13.4 million) to growing nations broken by local weather change.

On Tuesday, it turned the primary nation to supply “loss and harm” compensation for these in probably the most local weather weak areas of the world.

“I noticed for myself in Bangladesh this spring that the implications of local weather change want elevated focus,” Denmark’s growth minister Flemming Møller Mortensen stated when saying the funds.

“It’s grossly unfair that the world’s poorest ought to endure probably the most from the implications of local weather change to which they’ve contributed the least.”

He added that it was time for motion, not simply phrases.

The place will Denmark’s loss and harm funding go?

The Danish overseas ministry stated in a press release that 35 million Danish crowns (€4.7 million) will go to an organisation based mostly in Frankfurt, Germany that subsidises insurance coverage in poorer international locations.

An extra 32.5 million Danish crowns (€4.4 million) will go to the ministry’s “strategic partnerships with civil society, which work with climate-related loss and harm”. There will probably be a particular concentrate on the Sahel area which spans North Africa’s Sahara desert.

One other 25 million Danish crowns (€3.4 million) are being spent on “strategic efforts” which may assist present local weather change negotiations within the run-up to COP27.

In line with the Danish authorities, the ultimate 7.5 million crowns (€941,314) will probably be given to civil society actors working in growing nations to enhance resilience to the impacts of local weather change.

Loss and harm is a ‘basic query of local weather justice’

The pledge was made throughout a ministerial assembly on the sidelines of the United Nations Normal Meeting in New York.

In his tackle to the meeting, UN secretary-general Antonio Guterres requested member states to tax the windfall income of fossil gas firms and redirect the cash to international locations affected by loss and harm.

“Loss and harm are occurring now, hurting folks and economies now, and have to be addressed now – beginning at COP 27,” he stated.

“It is a basic query of local weather justice, worldwide solidarity and belief.”

Up to now solely Scotland and the Belgian area of Wallonia have pledged cash for loss and harm – however neither are members of the UN. This makes Denmark the primary UN member state to supply this funding.

The continued battle for loss and harm funding

Forward of COP27 in November, a few of the nations most weak to the consequences of local weather change are pushing for a funding facility for loss and harm to be established.

This was additionally a significant subject of dialog eventually 12 months’s COP26, with main polluters just like the US and EU opposing the creation of a separate fund to handle this problem.

However the necessity to assist international locations pay for damages brought on by local weather penalties has by no means been extra obvious.

After latest extreme flooding affected one in seven folks in Pakistan – round 33 million folks – the nation’s overseas minister Bilawal Bhutto Zardari stated that loss and harm have to be on finance the agenda at COP27.

He expressed hope {that a} resolution might be reached on the worldwide convention, to be held in Egypt, for a monetary mechanism to compensate growing international locations for these typically catastrophic impacts of local weather change.

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