COP27 Loss and Damage Fund—Financial Band Aid or Effective Mechanism?

South, D.W.

doi:10.1002/gas.22351

Cited by 1 publication

(2 citation statements)

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“…At the heart of COP 27's outcomes lies the creation of a Loss and Damage Fund, a resolute commitment by the global community to provide financial support to nations grappling with the devastating consequences of climate change. This fund acknowledges the harsh reality that some countries, often those with the least historical responsibility for GHG emissions, are bearing the brunt of climate-related disasters (South, 2023). At its core, the loss and damage refer to the irreversible impacts of climate change that exceed a country's capacity to adapt and recover.…”

Section: Cop 28: Significance and Implicationsmentioning

confidence: 99%

“…These impacts manifest as a tragic litany of disasters, including extreme weather events, loss of agricultural productivity, displacement of communities due to sea-level rise and the destruction of critical infrastructure. The very fabric of vulnerable societies is torn asunder, making recovery a Herculean task (South, 2023).…”

Section: Cop 28: Significance and Implicationsmentioning

confidence: 99%

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Shifting geopolitical sands: COP 28 and the new BRICS+

El Alfy,

El-Bassiouny,

Cochrane

2023

MSAR

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PurposeThe new additions to Brazil, Russia, India, China and South Africa (BRICS) expand into the broader Middle East and North Africa region, adding some of the largest populations and strongest economies of the region to BRICS+. Since the BRICS summit in August 2023, significant media attention has been given to the impacts of these shifting geopolitical sands, from the potential for de-dollarization processes, and the distribution of resource reserves for influencing markets. Conference of the Parties (COP) 28 presents an opportunity for these emerging economies (BRICS+) to assert their role in addressing the global climate crisis and push for more equitable and effective solutions. However, only little has been explored on how the new BRICS+ alignment will influence climate negotiations at COP 28 and the sustainability transition more broadly. This perspective article explores what the changes to BRICS+ mean for COP 28 and the relevance of COP 28 being hosted in a BRICS+ member country.Design/methodology/approachIn crafting this perspective paper on BRICS+, the authors' methodology primarily entails a comprehensive review of existing literature, policy documents and academic analyses related to the BRICS+, as well as the examination of official statements, declarations and policy shifts from BRICS+ member countries to gauge their intentions and priorities within this expanded framework. The authors also monitor developments leading up to COP 28 to provide real-time insights into how BRICS+ dynamics shape climate negotiations.FindingsThe authors' perspective article puts forth a number of insights. First, the BRICS+ member countries are prominent players in global geopolitics. Their involvement in COP 28 could lead to climate negotiations being intertwined with broader geopolitical issues, potentially impacting the pace and direction of climate agreements. Second, COP 28 offers a critical opportunity to bridge the divide between developed and developing nations in the realm of climate action and sustainable development. The BRICS+ countries may, in this COP event, explore options beyond the traditional intergovernmental institutions, which often reflect the influence, hegemony and power dynamics of the Global North. This includes South–South collaboration, bilateral financial support, innovative financing and direct trade. Finally, agendas related to capacity building in this coming event will be a critical component of the global climate change agenda in a way that develops South–South dialogs for climate change adaptation and mitigation.Originality/valueThe authors' research sheds light on the implications of this expansion for climate negotiations, a critical global concern. It delves into uncharted territory by examining how the BRICS+ alignment may influence climate initiatives, which has not been thoroughly explored in existing literature. This comprehensive perspective fills a critical gap in the current discourse, providing policymakers and scholars with a more holistic understanding of the implications of BRICS+ for the global agenda on sustainability. Moreover, the research offers real-time insights by monitoring developments leading up to and during COP 28, allowing for timely analysis and informed recommendations. This aspect of the research provides immediate value to stakeholders engaged in climate negotiations and international relations.

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Section: Cop 28: Significance and Implicationsmentioning

confidence: 99%

Section: Cop 28: Significance and Implicationsmentioning

confidence: 99%