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Home News Climate Change

COP27: FOEI Decries Lack of Progress on Loss and Damage Finance  3.5/5 (2)

Blessing Oladunjoye by Blessing Oladunjoye
November 18, 2022
in Climate Change, News
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COP27: FOEI Decries Lack of Progress on Loss and Damage Finance

Executive Director of CAPPA, Bode Oluwafemi, making a case for the payment of ecological debts by big polluters at #COP27

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Friends of the Earth International (FoEi) has scored the climate negotiations in Sharm El Sheikh, Egypt as low on progress even with more talk by the United States and other developed countries.

The federation, in a press briefing on November 18 as the talks drew to a close decried the lack of progress in the Loss and Damage Finance discussion and the crucial climate pledge of $100bn by rich countries that is yet to be met.

Speakers at the event included Meena Ramam of Friends of the Earth Malaysia, Tatiana Roa of Friends of the Earth Colombia,  Karen Orenstein, Friends of the Earth US, Soumya Dutta, Friends of the Earth India, and moderated by Sara Shaw of Friends of the Earth International.

Meena Ramam of Friends of the Earth Malaysia said “We didn’t like the #ParisAgreement, but we had to settle for it. It is a legal treaty. The biggest barrier here is the US & EU who do not understand equity & historical responsibility, and are wreaking havoc over a legal treaty settled 7 years ago!”

Soumya Dutta of Friends of the Earth India said “Dangerous references to carbon removal, ocean geoengineering & nature based offsets have been brought up in talks on Carbon Markets. What we’ve seen from these projects in India & worldwide is the devastation of forest, lands & livelihoods for so many people.”

Tatiana Roa, Friends of the Earth Colombia also noted that “The real and true zero emissions is to leave hydrocarbons and coal in the subsoil. Climate Justice and a just energy transition will only be possible with system change that addresses injustices for the most vulnerable people.”

Karen Orenstein of Friends of the US said “the US is generally not a fair player in the UNFCCC, but here they are outstandingly bad. Even if the US can’t contribute to a Loss and Damage fund, they should not block the rest of the world from setting it up. They must get out of the way!”

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Tags: Climate changeClimate JusticeCOP 27Loss and Damage FInance

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