U.S. Withdraws from Climate Compensation Fund for Developing Nations

The United States has withdrawn from the Fund for Responding to Loss and Damage, a global initiative aimed at compensating developing nations for climate change impacts. The African Group of Negotiators expressed their disappointment, highlighting the jeopardy faced by vulnerable countries. The fund was agreed upon in 2022 to address losses from climate change, set to operationalize from January 2025.

On March 7, 2023, the United States announced its withdrawal from a global agreement aimed at compensating developing nations affected by climate change. The African Group of Negotiators (AGN), representing various African countries in UN climate discussions, expressed significant disappointment regarding this decision, emphasizing that it endangers critical support for nations grappling with irreversible climate consequences.

In a formal communication to Jean Christophe Donnellier, Co-Chair of the Fund for Responding to Loss and Damage, Rebecca Lawlor, Deputy Director at the US Office of Climate and Environment, announced the immediate withdrawal of the United States from the fund’s board. The letter indicated that both US board members would resign without replacement, further illustrating the nation’s commitment to disengagement from this crucial initiative.

The fund, established following extensive advocacy from developing nations at the UN climate conference in Sharm El-Sheikh, Egypt in 2022, was intended to address losses incurred from climate change. During COP29 in Baku, scheduled for 2024, nations agreed to commence operating the fund from January 1, 2025.

Climate activist Harjeet Singh condemned the decision, attributing it to a broader pattern of obstructionism exhibited by the US government in obtaining necessary financing for climate disaster mitigation. He asserted that as the leading historical emitter of greenhouse gases, the United States is responsible for a significant portion of the climate challenges affecting vulnerable countries, thus warranting accountability and fulfillment of its obligations in global climate reparations.

The United States’ withdrawal from the Fund for Responding to Loss and Damage raises considerable concerns regarding support for developing nations facing the dire effects of climate change. This decision has sparked disappointment among global climate advocates, signaling potential setbacks in efforts toward climate justice and responsibility. Climate experts emphasize the importance of holding the US accountable for its historical emissions and ensuring its contributions to addressing global climate impacts.

Original Source: www.newsdrum.in