News
Global

Loss and Damage Fund Operationalized at COP28

(Adapted from communique to staff from IOM Director General, Amy Pope) 

At the opening plenary of COP28, States decided, without objection, to operationalize the Loss and Damage Fund. The vote followed 30 years of advocacy from the countries most vulnerable to climate change, and it is a great step toward the acceleration of solutions related to climate mobility -- migration, displacement, and planned relocation – that can save lives and contribute to global stability. 

IOM is identified in the decision as one of 30 high-level representatives of entities to be consulted on funding arrangements, contributing to a High-Level Dialogue co-led by the Fund and the UN Secretary General that will coordinate the work of the new Loss and Damage Fund, along with other loss and damage funding mechanisms. This is a historical success, and it is a great direct recognition of IOM’s work.  The big win for everyone is that the scope of the Loss and Damage Fund includes human mobility, which means countries, communities and organizations will be able to apply for money under the Fund to address human mobility needs. It also means climate migrants will be consulted as part of the Fund Board's work.   

The decision also recognized and accounted for the disproportionate effects climate change is having on the most vulnerable countries and populations, especially the least developed countries and small island developing states. For example, in the decade between 2012 and 2022, 5.3 million new internal displacements caused by disasters were registered in the Caribbean.  In 2017 alone, Hurricanes Irma, Harvey and Maria caused 3 million new displacements across 16 countries in the Caribbean and USA.  

With a focus on helping those countries and states, IOM can build upon existing programming and capacities. This could include tackling adverse drivers of migration, action to address disaster displacement and facilitating planned relocation.   

At the country level, IOM will continue to advocate that human mobility is included in the loss and damage assessments that countries will need to develop to get money from the Loss and Damage Fund. The data and evidence that IOM has gathered and shared as well as our technical policy support will also be available to strengthen this effort.  

Several countries announced pledges to the Loss and Damage Fund, including the European Union (with a major contribution from Germany), Japan, Norway, the United Arab Emirates, the United Kingdom, the United States of America. 

There is still much more to do, but this COP28 decision is a promising start that propels us farther in our strategic direction to save lives, deliver solutions, and facilitate regular pathways in the context of climate change. 

Read more here: https://news.un.org/en/story/2023/11/1144162 

SDG 10 - Reduced Inequalities
SDG 13 - Climate Action