Source · Select Committees · International Development Committee
Recommendation 13
13
Rejected
Paragraph: 45
Government's Loss and Damage Fund pledge drawn from existing commitments disappoints Committee.
Conclusion
The Committee welcomes the Government’s £60 million pledge to the UNFCCC’s Loss and Damage Fund, but is disappointed that this is drawn from previously announced commitments. The Committee understands the Minister’s contention that wider funding streams are needed, but until these are agreed upon, it befalls to donors such as the UK, who have historically been responsible for higher emissions, to plenish the Fund.
Government Response Summary
The government disagrees with the committee's disappointment, stating it used existing ICF funds for an early pledge to the Loss and Damage Fund to demonstrate commitment and will consider further contributions only once the fund's operating model is established.
Paragraph Reference:
45
Government Response
Rejected
HM Government
Rejected
Disagree 18. The UK made an early pledge of up to £40 million at COP28 to demonstrate commitment to the establishment of the Fund for Responding to Loss and Damage (FRLD) and urges others to also contribute. Drawing on the ICF enabled the UK to make an early commitment. The UK will use our seat on the Board of the new Fund to promote financing at scale to tackle loss and damage. This will include identifying mechanisms for the Fund to access new and additional finance. The UK’s contribution to the Fund is part of the UK’s £11.6 billion commitment to help to tackle climate change in the poorest and most vulnerable countries in the world. The FRLD is still in the process of being established and the UK will consider whether to contribute further funds once progress has been made on an operating model and resource allocation.