To ask the President of COP26, what steps he is taking to further develop financial support to help prevent loss and damage as a result of climate change ahead of the COP26 summit.
2 August 2021
The UK Presidency is clear about the importance of developed countries meeting and surpassing the commitment to jointly mobilise $100bn of climate finance per year through to 2025, from a range of public and private sources.
At COP25, countries highlighted that existing sources of funds from a wide variety of sources, including disaster reduction and response funds, respond to loss and damage. They also urged donors and these other funds to scale up support relevant to averting, minimising and addressing loss and damage in the most vulnerable countries. At COP26 and in the run up, we will push for progress on these actions and renew calls for coherent action using climate, development and disaster preparedness and response finance.
Through the COP26 Presidency, we are also calling for greater quantity, quality and access to finance and for responses to be joined up. The Taskforce on Access to Finance aims to align support behind the national climate action plans of developing countries to improve access to climate finance. The outcomes will be to agree a new approach to access, marshalling coherent, programmatic support for countries’ own, nationally-determined climate priorities, alongside specific, implementable recommendations to address the system of climate finance as a whole which includes enabling them to better prepare, build resilience and respond to disasters - averting, minimising and addressing loss and damage.