Although Indonesia has committed and carried out maximum (climate) adaptation attempts, it can still experience losses and damage...Jakarta (ANTARA) - The loss and damage funding mechanism agreed upon at the 27th UN Climate Change Conference (COP-27) is a step forward to overcoming climate change losses, the Environment and Forestry Ministry has said.
Indonesian negotiation officers fought for the loss and damage funding mechanism at the conference for years, director general of climate change mitigation at the ministry Laksmi Dwanthi said at a press conference at the ministry’s headquarters here on Monday.
"Although Indonesia has committed and carried out maximum (climate) adaptation attempts, it can still experience losses and damage; thus, it is expected that the funding will be able to reduce the potential loss and damage costs," she explained.
The agreement on the mechanism is also a cue for Indonesia to expedite the achievement of the Paris Agreement targets since the funding is expected to help many developing countries that are vulnerable to hydrometeorological disasters.
The participants of COP-27 have also agreed to establish a transitional committee that will make recommendations on operationalizing the new funding mechanism, which would be discussed at COP-28 in 2023.
“Later, the parties (at the conference) will discuss (the mechanism) more specifically since we realize that the source of the funding is limited,” the director general said.
The first meeting of the transition committee is expected to take place before the end of March 2023.
COP-27, which was held in Sharm el-Sheikh, Egypt, from November 6–20, 2022, also resulted in significant progress in the discussion on efforts to pursue the Global Goal on Adaptation, which would be determined further at COP-28.
In addition, the conference resulted in the Sharm el-Sheikh Implementation Plan, which highlights the global transformation to a low-carbon economy.
In general, the implementation of COP-27 was quite constructive and inclusive as several pending agendas were successfully resolved and produced a decision, which accommodated the interests of the parties, Dwanthi said.
Meanwhile, COP-28 is scheduled to take place from November 30 to December 12, 2023, in the United Arab Emirates.
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Translator: Prisca Violleta, Uyu Liman
Editor: Azis Kurmala
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