Ireland’s climate minister, Eamon Ryan, announced that progress has been made in the ongoing talks regarding a fund to address the issue of loss and damage resulting from climate change. Speaking after a crucial meeting at the pre-Cop gathering in Abu Dhabi, Ryan expressed optimism in reaching an agreement and highlighted the importance of delivering the fund at Cop28. He mentioned that one of the negotiators stated they were 85% there, providing a significant impetus to achieve a final agreement.
The fund, initially agreed upon at Cop27 in Egypt last year, faced delays in addressing key questions such as administration and funding sources. To resolve these issues, a transitional committee has been meeting since then, and further discussions will take place in Abu Dhabi this week to establish the fund’s framework. Ryan emphasized the need for these issues to be largely agreed upon before Cop28 begins on November 30, as it would instill confidence and momentum in the entire process.
According to Ryan, consensus must be reached on the institution responsible for administering the funds, and it is crucial that the finance reaches those most in need. He highlighted the vulnerability of those most impacted by climate change and their limited capacity to respond. Ryan acknowledged that agreement on the fund is essential, stating that failure to deliver it would undermine trust. He emphasized the responsibility of all parties involved to ensure its success.
The two major issues identified by Ryan are the administration of the fund and its funding sources. While the EU and the US advocate for the World Bank’s administration, Ryan clarified that it is not a “red line” but stressed the urgency of the situation, given the scale of the climate emergency. Establishing a new institution could take several years, which is not feasible considering the extensive damage caused by climate change. Ryan emphasized the need for swift action and the motivation derived from the unprecedented events of this year.
A pre-Cop gathering in the UAE, attended by around 70 ministers, aims to resolve differences ahead of the crucial Cop28 summit. Ryan commended the positive atmosphere in the negotiating rooms and credited the UAE for their efforts. He anticipated that finance would be a dominant topic during Cop28 and emphasized the importance of ensuring access to funds for the countries that need them the most. Mitigation and protection of essential systems from climate change impacts were also highlighted as crucial issues for the upcoming summit.
In conclusion, substantial progress has been made in the talks on the loss and damage fund, indicating a strong momentum towards reaching a final agreement. The administration and funding sources remain key points of discussion, with the urgency of the climate crisis underscoring the need for swift action. Cop28 promises to be a significant event, with ministers emphasizing the importance of finance and the protection of critical systems from the effects of climate change.
Irish climate minister acknowledges advancements in loss and damage discussions
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