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Definition of loss and harm required for climate funding, Santokhi

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The World Forum’s president, Chan Santokhi, delivers a speech. He spoke at the COP27 in Egypt as the second speaker today. President Chan Santokhi has now stated his expectations for the 27th Climate Conference (COP27) in Sharm el-Sheikh, Egypt, in six points. Losses and damages brought on by climate change are already on the agenda of COP27, thanks to the Organization of Small Island States (AOSIS) and their numerous initiatives. Prior to the Second World Climate Conference, an intergovernmental group of low-lying coastal and small island states was established, and they seek compensation for the harm that climate change has caused.

At the climate summit, which will last two weeks, more than 120 international leaders will address the steps that must be taken to stop climate change.

Although he expressed satisfaction that the AOSIS item had been added to the agenda, President Santokhi expressed some skepticism. The concept of loss and damage must be presented by AOSIS together with a vision and standards. How “are we going to organize as AOSIS to develop a common position?” he pondered. Additionally, Suriname has a low coast, making it extremely vulnerable to sea level rise brought on by climate change.

What procedures are we going to set up to talk about this? The head of state suggests a technical and political sub-regional strategy. “How do we reach out to the ‘developed world’ to sway their opinions?” In addition, he inquires, “How can we propose the design of a ‘loss and damage’ financial instrument to cover the consequences of climate change?

According to Santokhi, we must keep up with mitigation and adaptation policies as well as the technological and financial tools that enable transition and management. “Loss and damage tools should be viewed as supporting adaptation policies as an urgent and immediate measure to preserve and restore lives,” the statement reads.

He thinks there should be an open, accountable, “fit for purpose” approach. Given the urgency of the support needed, access should be simple and straightforward. Santokhi raises several concerns in his remarks, including how to create a “loss and damage fund” and who will fund and oversee “the fund.”

 

 

 

 

 

 

 

 

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