Oireachtas Joint and Select Committees
Tuesday, 6 December 2022
Joint Oireachtas Committee on Foreign Affairs and Trade, and Defence
Outcomes of COP27: Dóchas
Mr. Ross Fitzpatrick:
I wish to touch briefly on the least developed countries fund, LDCF, and the special climate change fund, SCCF. I think it is an important question with regards to why the loss and damage fund is important. As Ms Curran mentioned, there are issues with accessibility with both of these funds. They are also not equipped to deal with some very climate-vulnerable countries. For example, Pakistan is not considered in the LDCF and it therefore cannot even access funding under that fund. It had to go to the IMF to draw down a loan. I also point out that both of these funds are largely loan-based, so they are putting more unsustainable debt burdens on countries that are looking for funding. As Ms Curran mentioned, their only focus so far has been on mitigation and adaptation. Currently, the under the UNFCCC architecture there is no money at all for loss and damage. Basically, the funds provide nowhere near what is required to meet the scale of the need, as we are seeing in Pakistan and also Kenya. Kenya does not meet the criteria to get funding from either of the funds. That goes some way to answering the Deputy's question as to why they are not suitable.
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