The prevalence of extreme weather events and climate impacts experienced all over the world in 2017 - hurricanes in the Caribbean, heavy floods in South Asia, floods and droughts in Africa, droughts and rising sea levels in the Pacific, changing rainfall including flooding in South America - make it very clear that we have no time to waste. The most vulnerable people in the frontlines of climate change require finance for loss and damage urgently.
It is essential that the review of the Warsaw Mechanism for Loss and Damage (WIM) at the 25th Conference of the Parties to the UNFCCC (COP 25) in 2019 results in the full operationalisation of the WIM. This will be achieved by establishing a finance arm, with modalities for channelling and accessing loss and damage finance by the 2019 review from a clear menu of options developed by the WIM and the Standing Committee on Finance (SCF). We cannot lose more time in delaying meaningful discussions with the rapidly increasing and worsening climate change impacts that are being felt across the globe. CAN urges all countries to proactively and positively engage in these discussions.
The WIM Executive Committee (ExCom) and the SCF will need to undertake additional work over 2018 and 2019 to develop and discuss the concepts necessary to achieve this. Ample focus must be given to this task, comparable to all other elements of their respective workplans. It is essential for the Subsidiary Bodies and the COP to consider progress on loss and damage finance at each meeting.