Thread by @LossandDamage

1/18.📜NEW BLOG: We have seen quite a few pledges that have been framed as “finance for #LossAndDamage”. But are they really? This blog provides an overview of all the pledges thus far at #COP27 in chronological order.

🔗Read it here: lossanddamagecollaboration.org/pages/festival…

2/18. On the 20th of September, #Denmark🇩🇰 pledged €13m for #LossAndDamage, a package which includes finance for the #GlobalShield Against Climate Risk, support for CSOs to do projects on the ground, and some other money that is yet to be allocated for a specific use.

3/18. Crucially, all of this money is new and on top of #Denmark’s 🇩🇰 0.7% commitment to ODA, therefore not a diversion of cash from other vital #ClimateFinance projects.

4/18. However, instead of pledging to the #GlobalShield, we would have loved it if #Denmark 🇩🇰 had pledged finance to the #SantiagoNetwork for #LossAndDamage, which urgently needs finance to be operationalised and provide technical assistance to vulnerable developing countries.

5/18. On the 7th of November #Belgium 🇧🇪 committed €2.5 million to #LossAndDamage for a portfolio of projects in #Mozambique 🇲🇿. This is also not new and additional finance but part of previous commitments and is therefore diverting finance from #Adaptation and #Mitigation.

6/18. The extent to which these projects can be called addressing #LossAndDamage is also highly questionable (they focus on capacity building for officials, Disaster Risk Reduction and research), and therefore the pledge can't fully be regarded as finance for addressing L&D.

7/18.Another pledge on the 7th of November came from #Germany 🇩🇪which pledged €170m, all of which will go to the #GlobalShield. While this is a significant pledge, the fact that it will all be dedicated towards the #GlobalShield is cause for concern given its focus on insurance.

8/18.#Germany’s 🇩🇪 pledge could have gone a long way towards providing on-demand technical assistance through the #SantiagoNetwork. We wonder why developed countries insist on focusing the #GlobalShield at the expense of finance for the developing country driven #SantiagoNetwork?

9/18. #Ireland 🇮🇪 has also pledged €10m and #Canada $7m to the #GlobalShield. Concerns that the #GlobalShield would divert finance are becoming realised. While #Canada 🇨🇦 also committed $1.25m to the #SantiagoNetwork this is far from what is needed.

10/18. It's also worth noting that neither #Ireland 🇮🇪 nor #Canada 🇨🇦 pledged new and additional finance which means that the money the pledged came from existing #ClimateFinance commitments and therefore is diverting finance from #Adaptation and #Mitigation.

11/18. On the 8th of November, #Scotland 🏴󠁧󠁢󠁳󠁣󠁴󠁿pledged £5m for slow onset climatic processes, #Gender and Non-Economic #LossAndDamage (#NELD). While this focus is welcome this finance is not new and additional but part of a pledge made at #COP26 to the #ClimateJusticeFund.

12/18. That said, #Scotland🏴󠁧󠁢󠁳󠁣󠁴󠁿and in particular its @ScotGovFM @NicolaSturgeon must be lauded for their focus on #ClimateJustice and repeated calls for other developed countries to pay #Reparations for the #ClimateDebt they have incurred and owe to developing countries.

13/18. On the 9th of November #NewZealand 🇳🇿 pledged NZ$20m with a focus on rebuilding livelihoods, migration and preservation of language and culture in the #Pacific. This pledge is not new or additional but comes from a commitment made last year at #COP26.

14/18.Like so many others, #Austria's 🇦🇹 pledge is not new and additional but from previous pledges which means that it again is diverting #ClimateFinance from #Mitigation and #Adaptation. The cake is the same size but split into more pieces & yet the needs continue to escalate.

15/18.Whilst it is a positive development to see engagement on #LossAndDamage finance, few of these pledges are new and additional, meaning that they are diverting focus from #Mitigation & crucially, #Adaptation. Finance for #LossAndDamage must focus on addressing #LossAndDamage!

16/18.These pledges largely ignore the #SantiagoNetwork—which is being driven by developing countries and will provide on-demand technical assistance to vulnerable developing countries— leaving it woefully underfunded and with questions marks about how it will be operationalised.

17/18. Pledges which divert finance from #Adaptation or #Mitigation are not the solution. We will only properly address #LossAndDamage if developed countries don't step up, demonstrate authentic leadership, and own their historical responsibility for the #ClimateCrisis!

18/18. 📜Read the blog here: lossanddamagecollaboration.org/pages/festival…

🚨Live doc with the latest on L&D: docs.google.com/document/d/1Q9…

📸#LossAndDamage cheat sheet for journalists: docs.google.com/document/d/1aO…

🧑‍🎓And learn more about #LossAndDamage here: lossanddamagecollaboration.org/whatislossandd…