V20: Rich countries must urgently help poor countries affected by the climate crisis

Developing nations have said rich nations must urgently devise a plan to help countries reeling from severe weather, as failure to take early action on the climate crisis has left them increasingly vulnerable.

The V20 – Consisting of 20 weak countries face the worst effects of the climate crisisand those least able to deal with it — put forward its proposals on Monday about how rich countries should pay for “Loss and damage” caused by the climate crisis.

Its demands are likely to be a major issue in COP27 UN Climate SummitWhich begins in Egypt on November 6. The losses and damages refer to the more catastrophic effects of climate breakdown, such as cyclones or severe floods like the one that hit Pakistan recently.

Shona Aminath, Minister of Environment of the Maldives, told The Guardian that this is The world’s richest countries fail to help poor countries Build its resilience to harsh weather conditions, for example by building sea walls or Preserving natural flood barriersforcing them to deal with losses and damages.

“The reason we talk about loss and damage is because we’ve been failing to fund adaptation for years,” she said. There has been a long-standing pledge by rich countries to provide $100 billion annually by 2020 in climate finance for poor countries. Not yet fulfilledMost of the money that flows into emissions reduction projects in middle-income countries, rather than helping the poorest people adapt to the effects of the climate.

Aminath noted that rich countries have found funds to deal with the COVID-19 pandemic, and to help Ukraine. “It’s very clear that the problem is not a lack of money, or a lack of technology,” she said. “The issue is a lack of political will and a refusal to view the climate crisis as an emergency.”

Aminath added that helping poor countries with the loss and damage they have faced must go well beyond standard disaster responses to the direct effects of severe weather. When climate-related disasters strike, such as hurricanes or floods, they cause damage not only to physical infrastructure, which donors often focus on, but also to social well-being, including health and education.

These are the social issues left behind after donors leave [in the aftermath of disaster]She said. “There is also internal displacement, and the resulting problems with social integration, which are very important.”

many countries Already spending a growing slice of their budgets on climate protectionwhich could have been spent on health, education and lifting people out of poverty.

“Any discussion of loss and damage must recognize these social and economic implications,” Aminath said. “Climate change means that our financial base is shrinking. This is affecting our social protection.”

V20 indicates that it is the G20 countries – the world’s largest economies, made up of developed and rapidly industrializing countries – that produce about 80% of global greenhouse gas emissions. So far, although some countries have set strict targets, The G20 has made limited progress in cutting carbon.

The V20 . Discussion Paper It includes proposals to impose a windfall tax on oil and gas producers, or on frequent travelers, to raise money for the Loss and Damage Fund. It’s not likely to be adopted in Cop27, but it does suggest a variety of different ways to raise and allocate funds that can be included in your overall loss and damage strategy.

Aminath said that publicly funded development banks, such as world bankIt should play a strong role, along with the International Monetary Fund offering a financing method called the Special Drawing Rights, as well as the G7 governments and others. “We need a mosaic approach to deal with loss and damage,” she said.

It is unlikely that the issue of loss and damage will be fully resolved, Aminath said policeman 27However, strong progress can still be made on this issue. “I hope we can begin to think about losses and damages in a meaningful way that is not lost in political discourse.”

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