Voices from Asia Part 3: Will COP28 be a gamechanger for the loss and damage fund?

Voices from Asia

Voices from Asia is a four-part podcast series by the National University of Singapore (NUS). Launched in November 2023, the episodes aim to relate discussions at the annual United Nations (UN) climate conference, COP28, to audiences in Asia.

In this episode, host Audrey Tan from the NUS Centre for Nature-based Climate Solutions (CNCS) chats with Ms Danielle Yeow, an adjunct senior research fellow at the Centre for International Law at NUS, on an issue that will be closely watched at this year’s conference: Whether countries will agree on the sources of funding for the newly established loss and damage fund.

At COP27 last year, history was made when countries finally agreed to establish a loss and damage fund, after failing to reach a consensus on this for years. This fund is widely considered a mechanism by which developing countries – who are suffering from climate impacts caused by the historical emissions of wealthy countries – are compensated for the losses and damages caused by climate disasters. But details of the fund, such as its sources of financing and the criteria for which countries are eligible for financing, were left to this year’s conference.

Tune in to hear from Ms Yeow on the expectations for loss and damage at COP28, and why this negotiation track is one that developing countries - including those in Asia - are watching closely.

Key points:

• What does loss and damage refer to? (0:57)
• Is the loss and damage fund set up at COP27 a compensation fund? (5:43)
• The history of loss and damage in climate negotiations (9:48)
• What is the position of countries in Asia toward loss and damage? (16:27)
• What are the outstanding issues on loss and damage? (17:41)