Ghana needs dedicated fund for loss, damage

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A dedicated fund is needed by Ghana and many other countries whose communities are being swallowed up by rising sea levels and suffering long droughts due to climate change so they can adopt to the phenomenon.

These increasing climate-induced events are causing existential threats of high temperatures with floods washing away road networks, eroding modest gains and causing loss and damage to members of the Climate Vulnerable Forum (CVF).

The CVF is a global partnership of developing nations that are disproportionately affected by the consequences of global warming, which are tackling climate change to survive and thrive.

Ghana assumed the Presidency of the Climate Vulnerable Forum in May 2022 and would hand it over to another country in May 2024.

Dr Henry Kwabena Kokofu, the Representative of CVF Presidency, speaking ahead COP27, told the Ghana News Agency that the disruptions and discomfort could not be addressed by only aid from developed countries.

COP27, to be hosted from November 6 – 18, 2022 in Sharm el-Sheikh, Egypt will assemble governments and civil societies to take action towards achieving the world’s collective climate goals as agreed under the Paris Agreement and the Convention.

Dr Kokofu, who is also the Executive Director of the Environmental Protection Agency, described aid as ad hoc, unmeasurable and portrayed developing countries as “beggars” while their contribution to the cause of climate change was minimal.

“Aid should not be a substitution to a dedicated fund. We think those who caused this phenomenon must take responsibility and commit funds to adapt,” he said.

“Vulnerable countries need special international funding for climate change loss and damage by responsible nations under the United Nations Framework Convention on Climate Change (UNFCCC)/Paris Agreement”.

Dr Kokofu said the CVF was calling for the development and launch of a Global Shield Against Climate and Disaster Risks as a successor to the InsuResilience Global Partnership.

This must rapidly scale up the loss and damage funding and financial protection for the most vulnerable and as a contribution to the Paris Agreement implementation and the successful outcome of COP27.

He said the COP27 must mandate the Global Environment Facility, a nature protection funding agency, to fully address loss and damage as a distinct activity area for programmes and funding.

On adaptation, Dr Kokofu said the group hoped to advocate a standalone “Implementation Plan” to enhance transparency, predictability, and accountability for the realisation of the COP26-agreed doubling in international finance for adaptation from developed countries by 2025.

“Significant progress on the operationalisation of the Global Goal on Adaptation at COP27 needs to support the most vulnerable not only to survive but also to thrive. We should not target the bare minimum but aim to be transformational and move from vulnerability through resilience to prosperity”.

The CVF at COP27, he said, would push developed countries whose 2030 climate plans of reducing emissions were not aligned with the 1.5°C goal to review and to strengthen the targets in 2022 as was agreed at the COP26.

“Countries unable to align their Nationally Determined Contributions (NDCs) to the 1.5°C goal through domestic action should make full use of the Article Six mechanisms of the Paris Agreement,” Dr Kokofu said.

That would ensure the goal was kept alive while enhancing finance, technology transfer, capacity building and global climate action through cooperation with developing countries, particularly vulnerable to climate change, he said.

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