Southeast Asian Perspectives on the Operationalization of the Loss & Damage Fund

This policy brief is an expanded version of the Submission made by the Manila Observatory to the UNFCCC Transitional Committee after a sector-wide SEA-specific workshop in Bangkok, Thailand August 2023.
 

Key Takeaways

• On the Main Principles, the principles enshrined in the Paris Agreement remain fundamental in addressing the challenge of Loss and Damage – that of equity and common but differentiated responsibilities and respective capabilities (CBDR-RC).
• On the Programme Priorities, the Fund should be backed by science. The IPCC reports are a good first basis, as well as scientific reports by domestic research agencies. However, there also remains a space for traditional ecological knowledge.
• On the Governance Arrangements, the Fund, however, it will look like, should be a standalone Fund, which is independent and distinct from any existing funding mechanisms.
• On Eligibility and Access, the Fund should be easily accessible by all developing countries, and more particularly the indigenous peoples and local communities (IPLC) in these countries.
• On the Sources of Funding, the Fund should be open to innovative financing, like taxes and private investment, which should be carefully examined to avoid negative consequences such as increasing the debt burden of developing countries.