As the president of the World Resources Institute, Ani Dasgupta, writes, “vulnerable populations are disproportionately affected: people at the forefront of the crisis and with the fewest resources. Almost always, these are also the people who have contributed least to the problem ».
In the Cop26 in Glasgow, last year, the proposal for an ad hoc mechanism for loss & damage financing was rejected by the advanced countries. The emerging ones will try again in Sharm el-Sheikh. Signs of openness have come from the United States and the European Union, which in the past have opposed this type of instrument, arguing that there are already several aid programs to which they contribute significantly.
The split in COP, India leader of the emerging countries
India, which always exerts great influence on climate negotiations, will once again propose itself as the spokesperson for developing countries, even if different from each other, especially island states, do not like the obstructionism on cutting greenhouse gases.
New Delhi, which is dependent on coal for 70% of its electricity generation, is asking for money, and many, primarily for itself, to finance its costly transition without having to give up the development it needs. In order to achieve its climate targets, over 220 billion dollars a year of investments will be needed. At the same time, India is one of the countries most exposed to the disasters caused by climate change.
On adaptation, «the action has slowed down, and a signal has to be given. And we must begin the discussion on the finance for loss & damage », the Egyptian special representative, Wael Aboulmagd, warned on the eve of the Sharm el-Sheikh conference.