CSOs seek loss and damage response fund

The Civil Society Organizations (CSOs) have called for a loss and damage (L&D) response fund, advocating for an initial annual commitment of $400 billion starting in 2025, with a scale-up target of $1-2 trillion in the following years.

They further urged the establishment of a standardised framework for climate finance, with an ambitious New Collective Quantified Goal (NCQG) that emphasises concessional, grant-based, new, additional and publicly sourced finance.

The CSOs also pressed for balanced funding between adaptation and mitigation, prioritising support for least developed countries (LDCs), small island developing states (SIDS) and other vulnerable nations, while promoting gender equality in climate action.

The demands were presented by the Climate Justice Alliance-Bangladesh, a coalition of 40 civil society organisations, at a position paper-sharing event organised by the Center for Participatory Research and Development (CPRD) in a city hotel on Tuesday.

The event titled "COP 29 Position Paper Unpacking and Sharing: Articulating CSOs' Position Together," outlined key priorities for the upcoming COP 29 summit.

The alliance stressed the need for countries to adopt ambitious, 1.5°C-aligned third-round Nationally Determined Contributions (NDC-3), supported by financial and technical assistance, particularly for LDCs.

[email protected]