The EU finally agrees to a historic loss and damage fund

“The world is watching and the clock is ticking. We will be holding governments to account at COP27 to ensure they get on the right track. The money is there – it’s a question of political will.” Rachel Simon, International Finance and Development Policy Coordinator on The Guardian

Civil society around the world played a pivotal role in the historic decision at COP27 to establish a loss and damage fund.

The European Parliament’s COP27 resolution reflected some key inputs made by CAN Europe and its members on loss and damage which ramped up the pressure on the European Commission and Council ahead of COP.

In November through to the summit itself, a number  of EU Member States and the European Commission pledged loss and damage finance for the first time.

After years of resistance, the shift in the EU’s position helped move other developed countries to reaching an agreement among the Parties.