Wallonia will double its financial support for the losses and damages of the countries most vulnerable to climate change in 2023, Walloon Climate Minister Philippe Henry announced on Monday at COP27 in Sharm el-Sheikh.
The issue of "loss and damage" is a major topic at this year's COP27 negotiations. The issue concerns the damage and impact caused by climate change that cannot be avoided either by mitigation or adaptation.
It has been a bone of contention for rich countries, who fear that too much recognition of loss and damage could lead to legal action by the Global South, who are the most impacted by the effects of climate change while also being the least historically responsible.
At COP26 last year, Wallonia announced an initial envelope of €1 million for the financing of losses and damages, becoming the second region in the world to take this step, after Scotland.
More recently, several countries have dedicated envelopes for loss and damage, including Belgium, which will allocate €2.5 million as part of a multi-year partnership with Mozambique.
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"I am honoured to announce that Wallonia will contribute €2 million in 2023 to continue this pioneering work. The use of this new funding will be carried out in close collaboration with the stakeholders," announced Minister Henry on Monday, during an event organised on the sidelines of COP27.
The new envelope is therefore equivalent to doubling the Walloon funding for loss and damage.