Dr. Mahmoud Mohieldin, UN Climate Change High Level Champion for Egypt and UN Special Envoy on Financing 2030 Sustainable Development Agenda, said that non-state actors (NSA) are asked to do more to address the ever-increasing loss and damage caused by climate change.
This came during his participation in a session entitled “Action After Impacts” within the events of Bonn Climate Conference, with the participation of Razan Al Mubarak, HLC for COP28, and a number of representatives of governments and non-state organizations.
“With the increasing climate losses and damages that the world is experiencing, the level of finance needed is increasing significantly.” Mohieldin said, explaining that the disasters caused by climate change since 2000 have affected about 4 billion people, and the resulting losses amounted to about $2.9 trillion.
Mohieldin referred to some recent studies that reported that the value of economic losses resulting from climate change in developing countries will reach in average about $400 billion annually by 2030, and will range from $1 trillion to $1.8 trillion annually by 2050, regardless non-economic loss and damage, which includes lives, public health, livelihoods, loss of biodiversity and cultural heritage.
Mohieldin reviewed some figures and statistics of climate change losses and damage in 2022, explaining that financing flowing into adaptation activities in developing countries is five to ten times less than required.
Mohieldin stressed that the role of NSA in addressing loss and damage from climate change is no less important than the role of governments, but they are rather required to stimulate and increase the action taken by governments in this regard, which underlines the need to set new arrangements to finance and implement climate action.
He stressed that dealing with climate loss and damage requires the availability of knowledge and capabilities at the level of individuals and organizations, as well as the availability of the necessary financing to apply solutions.
The climate champion called on NSA to cooperate and provide expertise and solutions to the transitional committee responsible for developing the working mechanisms of the Loss and Damage Fund launched during COP27. He also called on the private sector and investors to contribute to mobilizing the necessary financing to implement climate projects and apply solutions to address climate loss and damage.
He explained that the HLCs are working to enhance and accelerate action to address climate losses and damage by presenting opportunities and options to NSA, and encouraging these actors to contribute to mobilizing finance to ensure the acceleration of implementing climate action.
