Loss&Damage Network

🚨New Comment! Economic quantification of Loss and Damage funding needs by @tavoni_massimo, @pietro_andreoni, @matteo_calca, @elisa_calliari, @tmdeubelli, @reinhardmechler & @Leonie_Climate nature.com/articles/s4301… (free-to-read: rdcu.be/dJUsq)

Economic integrated assessment modelling plus ghg emission responsibility leads to estimate of funding needs for residual impacts= #LossAndDamage for 2025 of US $395 [128–937] billion for median global economic climate impact of US $515 [385–737] billion

Wider range, similar magnitude as Markandya&González-Eguino in 2019 for economic model ensemble. Residual economic impact estimate for non-Annex I countries with range of $116–435 billion for 2020 and $290–580 billion for 2030 (in 2005 USD) t.ly/9INqg #lossandDamage

“We’ve delivered history today. The first time a decision has been adopted on day 1 of any COP. And the speed in which we have done so is also historic. Getting this done demonstrates the hard work of so many, particularly members of the transitional committee who worked tirelessly to get us to this point. This is evidence that we can deliver. COP28 can deliver. And colleagues, this now sets a clear ambition for us to deliver a comprehensive GST decision over the next 12 days.” - COP28 President, Dr Sultan Al Jaber. #COP28

United in Climate action… FM Shoukry @COP27P President Designate receives @climatemorgan & @maisa_rojas on the occasion of assuming their role as facilitators & coordinators for climate negotiations on loss & damage in #COP27