Coherent Identifier About this item: 20.500.12592/q8zkzb

The Loss and Damage Finance Facility - Why and How - Discussion Paper

24 May 2022

Summary

Urgent response to rapid-onset events in the accountable to the Conference of the Parties aftermath of climate disasters (such as storms (COP) and Conference of the Parties serving as and floods); the meeting of the Parties to the Paris Agreement (CMA) as well as the WIM and function under 2. [...] as the policy discussion and research pillar, the Santiago Network on L&D as the implementation The Working Group III (WGIII) contribution to the and technical assistance pillar, and the LDFF as IPCC AR6 Report on Mitigation of Climate Change the financing pillar (UNFCCC Secretariat, 2019). [...] Instead, the final day of COP26, the UK COP Presidency the COP25 decision recognised the urgency of released the draft decision text to be adopted by enhancing the mobilisation of action and support the CMA which included the GD, which would be including finance, technology and capacity “to discuss the arrangements for the funding of building; urged the scaling up of that support activities” to ad. [...] support to developing countries from the relevant bodies including the WIM ExCom and existing funds under the UNFCCC Financial Functions Mechanism and the Financial Mechanism of the Paris Agreement, as well as for funding The LDFF should make a significant and mobilised and disbursed outside of the ambitious contribution to combat climate UNFCCC Framework change by focusing exclusively on addressi. [...] appropriate monitoring and evaluation processes that enhance local ownership and Some of the key functions of the LDFF should be: decision-making ■ Contributing to the effective implementation of the functions of the Warsaw International Some of the existing bodies under the UNFCCC Mechanism, in line with the provisions in financial mechanisms can complement the LDFF paragraph 7 of decision 2/CP.1.

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