Source · Select Committees · International Development Committee
Recommendation 14
14
Rejected
Pledge new and additional funding to the UNFCCC's Loss and Damage Fund.
Recommendation
The UK Government should pledge new and additional funding to the Loss and Damage Fund. (Paragraph 45) Legal implications of sea level rise
Government Response Summary
The government disagrees with pledging new and additional funding now, stating it already pledged £40 million to the Loss and Damage Fund at COP28 from its existing £11.6 billion climate finance commitment, and will only consider further contributions once the Fund's operating model is established.
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.