Thread by @LossandDamage

1/12.📜NEW TEXT: Good morning, the new text on “funding arrangements for #LossAndDamage” was released last night. As it stands the proposal of the G77 & China is not reflected and we are extremely concerned with the use of the term “funding arrangements” this is why.🧵

2/12. See the new “Draft negotiating texts” here under the 8f drop down here: unfccc.int/event/cop-27?i…

3/12. The G77 and China have tabled a very detailed proposal for a fund designated as an “operating entity” of the financial mechanism of the @UNFCCC, but the current text uses the term “fund as part of new and enhanced funding arrangements".

4/12. The G77 & China also asked for a transitional committee to develop the modalities of the fund and they have continually emphasised the need to recognise the principles of CBDR-RC, equity and historical responsibility. All of these elements are not reflected in the text.

5/12. Given the co-facilitators said they had reflected divergent views in options last night in the informal stocktaking we would have expected the views of the G77 & China, who represent 134 developing countries and 2/3rds of the world to be fully reflected in an option.

6/12. To fully reflect the G77 and China’s option we need to see a reference to establishing an “operating entity” under the Financial Mechanism of the @UNFCCC with a focus on addressing #LossAndDamage.

7/12. The work on #LossAndDamage under the @UNFCCC is mandated to focus on addressing #LossAndDamage. While developed countries have added avert and minimise since #COP21 in #Paris this does not change the fact that we need to ADDRESS #LossAndDamage.

🔗lossanddamagecollaboration.org/publication/wh…

8/12. The text also welcomes the #GlobalShield Against Climate Risk and we are concerned that this is a distraction, that it does not ADDRESS #LossAndDamage and that it diverts valuable resources away from the #SantagoNetwork which urgently needs finance to be operationalised.

9/12. Find out more about why we think that here: lossanddamagecollaboration.org/publication/is…

10/12. We must also welcome the spectrum of work being driven by countries in the #GlobalSouth so we would add the #BridgetownInitiative being developed and driven by #Barbados and championed by @miaamormottley to the list of new initiatives outside the @UNFCCC being welcomed.

11/12. We urge Parties to work harder to meet the demands of the G77 & China, who we must remember, represent 2/3rds of the world's population including the most vulnerable communities and countries that are bearing the brunt and cost of #LossAndDamage from #ClimateChange.

12/12. 📜Find out more about #LossAndDamage at #COP27 below:

🚨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…