Developed and Developing Countries Show No Progress Bridging the Divide on Loss and Damage Fund

Following the failure of the fifth meeting of the Transitional Committee, where differences between developed and developing countries in establishing a Loss and Damage fund remained unresolved, Mercy Corps is deeply concerned by the prospect of reaching an agreement at the upcoming 28th Conference of Parties (COP28) to the United Nations Framework Convention on Climate Change, scheduled to take place in the United Arab Emirates (November 30 - December 12, 2023).

Debbie Hillier, Head of Zurich Flood Resilience Alliance for Mercy Corps, says:

“The inability of developed nations to commit as primary contributors to the Loss and Damage fund - in line with their historical responsibility in producing greenhouse gasses - is deeply disappointing. This is leading to a significant trust deficit that will impact COP negotiations this year, and could significantly undermine progress. It is a deeply cynical move that the US, which has consistently not paid its fair share of climate finance, is now the one undermining an agreement on financing Loss and Damage. Developed nations must acknowledge their role in worsening the climate crisis and make substantial contributions to support climate-vulnerable communities.

“The global failure to mitigate and adapt to the impacts of the climate crisis has led to massive losses and costly damages affecting the lives, livelihoods, and futures of communities worldwide, with the costs borne principally by communities that contributed the least to carbon emissions, including those where Mercy Corps works.  

“Last year's agreement to establish a Loss and Damage fund was historic and reflects a key priority of developing countries, a cause that they have been championing for nearly 30 years. Given the gravity of the climate crisis, it’s imperative that the Loss and Damage fund is operationalized at COP28. While negotiations are complex, the success of COP28 is vital. Failure to do so will exacerbate the divide between developed and developing countries, leaving communities ill-equipped to cope and adapt to the challenges posed by climate shocks.”

For more information please contact: 

• Roberta Alves (based in Washington, D.C.) at ralves@mercycorps.org
• Our full media team is reachable at allmediarelations@mercycorps.org