Loss and damage fund: UK giving with one hand while taking with the other
30 November 2023- Responding to the UK’s pledge to the new Loss and Damage fund, Carly Munnelly, Strategic Lead for Development and Climate Finance at Save the Children said:
“While the UK’s £60 million pledge towards loss and damage is an important contribution to a vital fund, it is not new or additional finance, but a repackaging of existing commitments. And it rings hollow in the face of a string of broken climate pledges.
“We've already seen £1.6 billion stripped from the existing £11.6 billion climate finance commitment by re-defining what goes into it – effectively creative accounting. The government is giving with one hand while taking with the other.
“Today’s pledge does not reflect what countries on the front line of the climate crisis are calling for or need. The UK must not recycle finance and disguise it as progress, but provide the additional funds required to confront the climate crisis with the urgency it needs.”
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