Loss and Damage Fund - Revision history

Doug: Update for IFRS Foundation taking over TCFD's work.

2025-03-02T13:15:30Z

Update for IFRS Foundation taking over TCFD's work.

← Older revision		Revision as of 13:15, 2 March 2025
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	* [[Damages]]		* [[Damages]]
	* [[G77]]		* [[G77]]
			* [[IFRS Foundation]]
	* [[Intergovernmental Panel on Climate Change]] (IPCC)		* [[Intergovernmental Panel on Climate Change]] (IPCC)
	* [[Loss]]		* [[Loss]]
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	* [[Sustainability]]		* [[Sustainability]]
	* [[Sustainable Development Goals]] (SDGs)		* [[Sustainable Development Goals]] (SDGs)
	* [[Task Force on Climate-related Financial Disclosures]] (TCFD)
	* [[Transition]]		* [[Transition]]
	* [[UK Climate Change Committee]]		* [[UK Climate Change Committee]]

Doug: Layout.

2024-02-08T01:23:49Z

Layout.

← Older revision		Revision as of 01:23, 8 February 2024
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	(L&D Fund).		(L&D Fund).

			'''Author: [https://www.linkedin.com/in/chadofficial/ Charitarth Sindhu]''', Environmental Sustainability & ESG Consultant.

	~~'''Author: [https://www.linkedin.com/in/chadofficial/ Charitarth Sindhu], Environmental Sustainability & ESG Consultant'''~~

	The concept of loss and damage is that developed nations historically emitted the majority of greenhouse gases driving the climate crisis, which has a had a disproportionately large impact on developing and economically vulnerable countries.		The concept of loss and damage is that developed nations historically emitted the majority of greenhouse gases driving the climate crisis, which has had a disproportionately large impact on developing and economically vulnerable countries.

	The Loss and Damage (L&D) Fund is a financial tool aimed at tackling the consequences of climate change that elude avoidance or mitigation through climate adaptation.		The Loss and Damage (L&D) Fund is a financial tool aimed at tackling the consequences of climate change that elude avoidance or mitigation through climate adaptation.
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	The voluntary nature of their support raises concerns about the fund's objectives, undermining faith in global climate negotiations and hindering the cooperative spirit essential for addressing climate change.		The voluntary nature of their support raises concerns about the fund's objectives, undermining faith in global climate negotiations and hindering the cooperative spirit essential for addressing climate change.

	~~'''~~Uncertainty Surrounding the Fund~~'''~~: Agreements at COP28 did not specify the size of the L&D fund.		Uncertainty Surrounding the Fund: Agreements at COP28 did not specify the size of the L&D fund.

	Attempts to outline the fund's size faced resistance, particularly from the UK and Australia.		Attempts to outline the fund's size faced resistance, particularly from the UK and Australia.

Doug: Layout.

2024-02-04T06:40:26Z

Layout.

← Older revision		Revision as of 06:40, 4 February 2024
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	*[https://unfccc.int/loss-and-damage-fund-joint-interim-secretariat/ Loss and Damage Fund - Conference of the Parties (COP) decisions 2/CP.27 and 2/CMA.4 – COP28 Dubai - 2023]		*[https://unfccc.int/loss-and-damage-fund-joint-interim-secretariat/ Loss and Damage Fund - Conference of the Parties (COP) decisions 2/CP.27 and 2/CMA.4 – COP28 Dubai - 2023]
	*[https://www.weforum.org/agenda/2023/12/cop28-loss-and-damage-fund-climate-change/ COP28 agrees to establish loss and damage fund for vulnerable countries - World Economic Forum – December 2023]		*[https://www.weforum.org/agenda/2023/12/cop28-loss-and-damage-fund-climate-change/ COP28 agrees to establish loss and damage fund for vulnerable countries - World Economic Forum – December 2023]
	*[https://unfccc.int/documents/8106/ Report of the Conference of the Parties on its nineteenth session – COP19 Warsaw - Addendum. Part two ~~–2013~~]		*[https://unfccc.int/documents/8106/ Report of the Conference of the Parties on its nineteenth session – COP19 Warsaw - Addendum. Part two – 2013]

	[[Category:Accounting,_tax_and_regulation]]		[[Category:Accounting,_tax_and_regulation]]
	[[Category:The_business_context]]		[[Category:The_business_context]]

Doug: Layout.

2024-02-04T06:39:50Z

Layout.

← Older revision		Revision as of 06:39, 4 February 2024
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	'''(C) Enhancing action and support, including finance, technology and capacity–building''': Providing technical support and guidance on approaches to address loss and damage, aiming to catalyse relevant information and recommendations to the financial mechanism's operating entities within the COP.		'''(C) Enhancing action and support, including finance, technology and capacity–building''': Providing technical support and guidance on approaches to address loss and damage, aiming to catalyse relevant information and recommendations to the financial mechanism's operating entities within the COP.


	==Challenges faced by the L&D Fund==		==Challenges faced by the L&D Fund==

Doug: Layout.

2024-02-04T06:39:15Z

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	'''COP19''' (2013): Witnessed the establishment of the L&D Fund mechanism and the formulation of its provisions.		'''COP19''' (2013): Witnessed the establishment of the L&D Fund mechanism and the formulation of its provisions.

	'''COP25''' (2019): Saw the inception of the San Diego Network for L&D; however, countries refrained from committing funds to support the initiative.		'''COP25''' (2019): Saw the inception of the San Diego Network for L&D; however, countries refrained from committing funds to support the initiative.

	'''COP27''' (2022): Marked a turning point as member states agreed to establish the L&D Fund. A Transitional Committee emerged to propose novel mechanisms for countries to deliberate on and adopt during COP28.		'''COP27''' (2022): Marked a turning point as member states agreed to establish the L&D Fund. A Transitional Committee emerged to propose novel mechanisms for countries to deliberate on and adopt during COP28.

	'''COP28''' (2023): Operationalized the Loss and Damage Fund as an entity accountable to and functioning under the guidance of the Conference of the Parties.		'''COP28''' (2023): Operationalized the Loss and Damage Fund as an entity accountable to and functioning under the guidance of the Conference of the Parties.

	As per decision 2 of COP19 (third link in Other resources below) outlining the functions of the L&D Mechanism drafted during COP19, the L&D Fund aims to assist countries through the following strategies:
			As per decision 2 of COP19 (see third link in Other resources below) outlining the functions of the L&D Mechanism drafted during COP19, the L&D Fund aims to assist countries through the following strategies:

	'''(A) Enhancing knowledge and understanding of comprehensive risk management approaches''': Addressing gaps in comprehending how to manage loss and damage due to climate change. This includes understanding the impacts on migration, displacement, and human mobility. The fund will facilitate the collection, sharing, management, and utilization of relevant information, offering overviews of best practices, challenges, experiences, and lessons learned.		'''(A) Enhancing knowledge and understanding of comprehensive risk management approaches''': Addressing gaps in comprehending how to manage loss and damage due to climate change. This includes understanding the impacts on migration, displacement, and human mobility. The fund will facilitate the collection, sharing, management, and utilization of relevant information, offering overviews of best practices, challenges, experiences, and lessons learned.

Doug: Layout.

2024-02-04T06:38:33Z

Layout.

← Older revision		Revision as of 06:38, 4 February 2024
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	(L&D Fund).		(L&D Fund).


	'''Author: [https://www.linkedin.com/in/chadofficial/ Charitarth Sindhu], Environmental Sustainability & ESG Consultant'''		'''Author: [https://www.linkedin.com/in/chadofficial/ Charitarth Sindhu], Environmental Sustainability & ESG Consultant'''
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	*[https://www.weforum.org/agenda/2023/12/cop28-loss-and-damage-fund-climate-change/ COP28 agrees to establish loss and damage fund for vulnerable countries - World Economic Forum – December 2023]		*[https://www.weforum.org/agenda/2023/12/cop28-loss-and-damage-fund-climate-change/ COP28 agrees to establish loss and damage fund for vulnerable countries - World Economic Forum – December 2023]
	*[https://unfccc.int/documents/8106/ Report of the Conference of the Parties on its nineteenth session – COP19 Warsaw - Addendum. Part two –2013]		*[https://unfccc.int/documents/8106/ Report of the Conference of the Parties on its nineteenth session – COP19 Warsaw - Addendum. Part two –2013]

	~~[[Category:Accounting,_tax_and_regulation]]~~
	~~[[Category:The_business_context]]~~

	[[Category:Accounting,_tax_and_regulation]]		[[Category:Accounting,_tax_and_regulation]]
	[[Category:The_business_context]]		[[Category:The_business_context]]

Doug: Expand page - source - Charitarth Sindhu - ESG consultant.

2024-02-04T06:38:17Z

Expand page - source - Charitarth Sindhu - ESG consultant.

← Older revision		Revision as of 06:38, 4 February 2024
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	''Sustainability - climate change - UNFCCC.''		''Sustainability - climate change - environmental risk management - UNFCCC - loss and damage.''

	(L&D).		(L&D Fund).

	~~In the context of the United Nations Framework Convention on Climate Change (UNFCCC) loss and damage means adverse physical effects that have already resulted from climate change~~, ~~and the related costs.~~		'''Author: [https://www.linkedin.com/in/chadofficial/ Charitarth Sindhu], Environmental Sustainability & ESG Consultant'''

	~~:"...~~ loss and damage ~~includes~~, and ~~in some cases involves more than, that which can be reduced by adaptation..~~."		The concept of loss and damage is that developed nations historically emitted the majority of greenhouse gases driving the climate crisis, which has a had a disproportionately large impact on developing and economically vulnerable countries.

	:''Loss and damage - United ~~Nations Climate Change~~.''		The Loss and Damage (L&D) Fund is a financial tool aimed at tackling the consequences of climate change that elude avoidance or mitigation through climate adaptation.
			These consequences range from extreme weather occurrences like hurricanes and heatwaves to gradual processes including desertification, sea level rise, and ocean acidification.

			The Loss and Damage Fund operates with the mission to compensate historic losses already suffered by communities, countries, and ecosystems due to the adverse effects of climate change.


			==Loss and Damage Fund timeline==

			'''COP19''' (2013): Witnessed the establishment of the L&D Fund mechanism and the formulation of its provisions.
			'''COP25''' (2019): Saw the inception of the San Diego Network for L&D; however, countries refrained from committing funds to support the initiative.
			'''COP27''' (2022): Marked a turning point as member states agreed to establish the L&D Fund. A Transitional Committee emerged to propose novel mechanisms for countries to deliberate on and adopt during COP28.
			'''COP28''' (2023): Operationalized the Loss and Damage Fund as an entity accountable to and functioning under the guidance of the Conference of the Parties.

			As per decision 2 of COP19 (third link in Other resources below) outlining the functions of the L&D Mechanism drafted during COP19, the L&D Fund aims to assist countries through the following strategies:

			'''(A) Enhancing knowledge and understanding of comprehensive risk management approaches''': Addressing gaps in comprehending how to manage loss and damage due to climate change. This includes understanding the impacts on migration, displacement, and human mobility. The fund will facilitate the collection, sharing, management, and utilization of relevant information, offering overviews of best practices, challenges, experiences, and lessons learned.


			'''(B) Strengthening dialogue, coordination, coherence and synergies among relevant stakeholders''': Providing leadership and coordination under the COP for the assessment and implementation of approaches to address loss and damage.

			Additionally, the L&D Mechanism will foster cooperation and collaboration across relevant work outside of the Convention at all levels.


			'''(C) Enhancing action and support, including finance, technology and capacity–building''': Providing technical support and guidance on approaches to address loss and damage, aiming to catalyse relevant information and recommendations to the financial mechanism's operating entities within the COP.

			==Challenges faced by the L&D Fund==

			'''Reluctance of developed nations''': The United States, among other developed nations, has refrained from committing to being primary donors to the fund.

			The voluntary nature of their support raises concerns about the fund's objectives, undermining faith in global climate negotiations and hindering the cooperative spirit essential for addressing climate change.

			'''Uncertainty Surrounding the Fund''': Agreements at COP28 did not specify the size of the L&D fund.

			Attempts to outline the fund's size faced resistance, particularly from the UK and Australia.


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	* [[Climate transition]]		* [[Climate transition]]
	* [[Climate-washing]]		* [[Climate-washing]]
			* [[Conference of the Parties]] (COP)
			* [[Conference of the Parties - historical milestones]]
	* [[COP27]]		* [[COP27]]
	* [[Corporate social responsibility]]		* [[COP28]]
			* [[Corporate social responsibility]] (CSR)
	* [[Damages]]		* [[Damages]]
	* [[G77]]		* [[G77]]
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	* [[Paris Agreement]]		* [[Paris Agreement]]
	* [[Sustainability]]		* [[Sustainability]]
	* [[Sustainable Development Goals]]		* [[Sustainable Development Goals]] (SDGs)
	* [[Task Force on Climate-related Financial Disclosures]] (TCFD)		* [[Task Force on Climate-related Financial Disclosures]] (TCFD)
	* [[Transition]]		* [[Transition]]
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	* [[V20]]		* [[V20]]
	* [[World Business Council for Sustainable Development]]		* [[World Business Council for Sustainable Development]]
			* [[World Economic Forum]] (WEF)



	==~~External links~~==		==Other resources==
	*[https://unfccc.int/~~topics/adaptation~~-and-~~resilience/the~~-~~big~~-~~picture/introduction~~-~~to-loss~~-and-~~damage Loss~~ and ~~damage~~ - ~~United Nations Climate Change~~]		*[https://unfccc.int/loss-and-damage-fund-joint-interim-secretariat/ Loss and Damage Fund - Conference of the Parties (COP) decisions 2/CP.27 and 2/CMA.4 – COP28 Dubai - 2023]
	*[https://www.~~reuters~~.~~com~~/~~business~~/~~cop~~/~~cop27~~-~~what~~-~~is-loss~~-damage-~~compensation-who-should-pay-2022~~-11-06/ ~~What is 'Loss~~ and ~~Damage' compensation, and who should pay?~~ - ~~Reuters~~ - ~~November 2022~~]		*[https://www.weforum.org/agenda/2023/12/cop28-loss-and-damage-fund-climate-change/ COP28 agrees to establish loss and damage fund for vulnerable countries - World Economic Forum – December 2023]
			*[https://unfccc.int/documents/8106/ Report of the Conference of the Parties on its nineteenth session – COP19 Warsaw - Addendum. Part two –2013]

	[[Category:Accounting,_tax_and_regulation]]		[[Category:Accounting,_tax_and_regulation]]

Doug: Create page - source - Charitarth Sindhu, Environmental Sustainability & ESG Consultant.

2024-02-04T06:31:05Z

Create page - source - Charitarth Sindhu, Environmental Sustainability & ESG Consultant.

New page

''Sustainability - climate change - UNFCCC.''

(L&D).

In the context of the United Nations Framework Convention on Climate Change (UNFCCC) loss and damage means adverse physical effects that have already resulted from climate change, and the related costs.

:"... loss and damage includes, and in some cases involves more than, that which can be reduced by adaptation..."

:''Loss and damage - United Nations Climate Change.''

== See also ==
* [[Climate change]]
* [[Climate change adaptation]]
* [[Climate change mitigation]]
* [[Climate finance]]
* [[Climate physical risk]]
* [[Climate-related financial disclosure]]
* [[Climate risk]]
* [[Climate transition]]
* [[Climate-washing]]
* [[COP27]]
* [[Corporate social responsibility]]
* [[Damages]]
* [[G77]]
* [[Intergovernmental Panel on Climate Change]] (IPCC)
* [[Loss]]
* [[Loss and damage]] (L&D)
* [[Natural capital]]
* [[Organic]]
* [[Paris Agreement]]
* [[Sustainability]]
* [[Sustainable Development Goals]]
* [[Task Force on Climate-related Financial Disclosures]] (TCFD)
* [[Transition]]
* [[UK Climate Change Committee]]
* [[United Nations]]
* [[United Nations Framework Convention on Climate Change]] (UNFCCC)
* [[V20]]
* [[World Business Council for Sustainable Development]]

==External links==
*[https://unfccc.int/topics/adaptation-and-resilience/the-big-picture/introduction-to-loss-and-damage Loss and damage - United Nations Climate Change]
*[https://www.reuters.com/business/cop/cop27-what-is-loss-damage-compensation-who-should-pay-2022-11-06/ What is 'Loss and Damage' compensation, and who should pay? - Reuters - November 2022]

[[Category:Accounting,_tax_and_regulation]]
[[Category:The_business_context]]

[[Category:Accounting,_tax_and_regulation]]
[[Category:The_business_context]]