As COP 28 draws closer, climate negotiators race to finalize a financing structure to help countries that suffer climate change-related damages.

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In late November this year’s global climate conference, COP 28, will begin in Dubai. The headline issue at COP will be the global stock take, which is a country by country review of progress toward fulfilling emissions reduction pledges under the Paris Climate Agreement.

Yet while much attention at COP will be focused on emissions reductions, a second issue, and one that has long been critical to developing nations, will finally and concretely share the limelight. The issue is that of loss and damage finance, or financial support for countries that sustain damage resulting from a changing climate. In Dubai negotiators are expected to endorse a financing framework, and purpose-built fund, to explicitly address the recovery needs of countries impacted by climate change.

Michael Franczak, a research fellow at the International Peace Institute, explores loss and damage finance and the race to deliver a formal finance mechanism in time for COP28. He also explains why the issue of loss and damage finance has been so contentious, and discusses innovative means to provide loss and damage funding on the scale that’s needed.

Michael Franczak is a research fellow at the International Peace Institute and author of the recent IPI report, “Financing Loss and Damage at Scale: Toward a Mosaic Approach.”

Related Content

COP 27 and Climate Finance: Renovated Debates, Same Old Dilemmas

https://kleinmanenergy.upenn.edu/news-insights/cop27-and-climate-finance-renovated-debates-same-old-dilemmas/

COP27 Dispatch: Why Loss and Damage Finance Is Critical to Small Island States 

https://kleinmanenergy.upenn.edu/podcast/cop27-dispatch-why-loss-and-damage-finance-is-critical-to-small-island-states/



Energy Policy Now is produced by The Kleinman Center for Energy Policy at the University of Pennsylvania. For all things energy policy, visit kleinmanenergy.upenn.edu.

As COP 28 draws closer, climate negotiators race to finalize a financing structure to help countries that suffer climate change-related damages.
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In late November this year’s global climate conference, COP 28, will begin in Dubai. The headline issue at COP will be the global stock take, which is a country by country review of progress toward fulfilling emissions reduction pledges under the Paris Climate Agreement.
Yet while much attention at COP will be focused on emissions reductions, a second issue, and one that has long been critical to developing nations, will finally and concretely share the limelight. The issue is that of loss and damage finance, or financial support for countries that sustain damage resulting from a changing climate. In Dubai negotiators are expected to endorse a financing framework, and purpose-built fund, to explicitly address the recovery needs of countries impacted by climate change.
Michael Franczak, a research fellow at the International Peace Institute, explores loss and damage finance and the race to deliver a formal finance mechanism in time for COP28. He also explains why the issue of loss and damage finance has been so contentious, and discusses innovative means to provide loss and damage funding on the scale that’s needed.
Michael Franczak is a research fellow at the International Peace Institute and author of the recent IPI report, “Financing Loss and Damage at Scale: Toward a Mosaic Approach.”
Related Content
COP 27 and Climate Finance: Renovated Debates, Same Old Dilemmas
https://kleinmanenergy.upenn.edu/news-insights/cop27-and-climate-finance-renovated-debates-same-old-dilemmas/
COP27 Dispatch: Why Loss and Damage Finance Is Critical to Small Island States 
https://kleinmanenergy.upenn.edu/podcast/cop27-dispatch-why-loss-and-damage-finance-is-critical-to-small-island-states/
 
Energy Policy Now is produced by <a href="http://kleinmanenergy.upenn.edu/">The Kleinman Center for Energy Policy</a> at the University of Pennsylvania. For all things energy policy, visit <a href="http://kleinmanenergy.upenn.edu/">kleinmanenergy.upenn.edu.</a>

Energy Policy Now offers clear talk on the policy issues that define our relationship to energy and its impact on society and the environment. The series is produced by the Kleinman Center for Energy Policy at the University of Pennsylvania and hosted by energy journalist Andy Stone. Join Andy in conversation with leaders from industry, government, and academia as they shed light on today's pressing energy policy debates.

Energy Policy Now

Energy Policy Now offers clear talk on the policy issues that define our relationship to energy and its impact on society and the environment. The series is produced by <a href="https://kleinmanenergy.upenn.edu/podcast/">the Kleinman Center for Energy Policy</a> at the University of Pennsylvania and hosted by energy journalist Andy Stone. Join Andy in conversation with leaders from industry, government, and academia as they shed light on today's pressing energy policy debates.

As COP 28 draws closer, climate negotiators race to finalize a financing structure to help countries that suffer climate change-related damages.

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