The International Climate Solidary Levies initiative, a contribution for loss and damage fund
By Era Environnement
Three renown non-governmental organizations, ICCCAD, the Innovative Finance Foundation, and Oxford Climate Policy, have joined forces to propose the use of “International Climate Solidarity Levies” to help the discussion on how the COP27 decision on loss and damage should be implemented, and how the new loss and damage response fund should be capitalized.
These three renown NGOs have have joined forces to propose the use of “International Climate Solidarity Levies” to facilitate the mobilization of funding for the new Loss and Damage Response Fund. With climate change causing loss and damage to societies around the world, the Loss and Damage Response Fund established last year at the UN climate summit, COP27, intends to address the plight of the most vulnerable.
Given the urgency to provide financial support to the poorest and most vulnerable countries to respond to climate induced loss and damage and given the current global economic and fiscal situation, it is difficult, according to observers, to see how the new fund could get adequately capitalized without diverting funds from other existing multilateral climate funds.
“We call on governments to give International Climate Solidarity Levies for the Loss and Damage Response Fund due consideration to support the poorest and most vulnerable nations in dealing with the devastating impacts of climate change they are experiencing right now!” claimed Professor Benito Müller, Managing Director of Oxford Climate Policy.
According to the three NGOs, a levy could for example be added to airline tickets, as already being applied in France. Such an air levy in EU could mobilize 1 bn Euro, which could help people and communities facing droughts, floods, and cyclones in some of the most vulnerable countries. “People who are flying are responsible for the emissions from their flight. It is thus only fair that they contribute, to those who are most affected by climate change,” explains Saleemul Huq, Director of the International Centre for Climate Change and Development (ICCCAD).
Governments are currently discussing how the COP27 decision should be implemented, and how the new loss and damage response fund should be capitalized. “I hope governments who are currently discussing how to find the funds for the new Loss and Damage Response Fund, will consider this initiative,” said Robert Filipp, President, Innovative Finance Fondation.