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Climate Change: Finance

Question for COP26

UIN 62800, tabled on 25 October 2021

To ask the President of COP26, what steps he is taking to help ensure that new and additional finance for loss and damage is included in the discussions on the new post-2025 climate finance target at COP26.

Answered on

1 November 2021

At both Ministerial and official level, we continue to raise the need for finance and action on loss and damage, noting that relevant finance for averting, minimising and addressing loss and damage comes from sources under and outside the UNFCCC.

As COP26 incoming Presidency, the UK has convened seven consultations which have devoted substantial time to the issue of operationalising the Santiago Network on Loss and Damage and included the question of finance to enable its work. The COP President also convened dedicated Ministerial sessions on loss and damage at the July Ministerial in London and at PreCOP. At these sessions, the issue of finance was discussed, including the post-2025 goal, with a view to political leaders providing the strategic framing for negotiator-level discussions at COP26.

As part of the COP25 Presidency and incoming COP26 Presidency joint informal work plan on finance, we have undertaken informal negotiator-level consultations on the post-2025 climate finance goal with all Parties that have expressed an interest. Public reflections notes on these engagements are available on the UNFCCC website. The COP26 Presidency role is to facilitate balanced progress on this item in Glasgow, reflecting the positions of all Parties as best possible.

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