Financing loss and damage: the realization of distributive justice in the Paris agreement
Date
2020-11
Authors
Asiema, Leona Leona
Journal Title
Journal ISSN
Volume Title
Publisher
Strathmore University
Abstract
The acquisition of climate finance for loss and damage under the Paris Agreement is based on the principles of distributive justice, that being cooperation and facilitation as opposed to the traditional notion of liability and compensation. The main problem faced with this is the lack of certainty in finance acquisition to support loss and damage. Consequently, the Warsaw Mechanism for Loss and Damage (WIM) is unable to adequately administer funds to those adversely affected by climate change.
Description
In international climate negotiations, there are three pillars of climate policy under the United Nations Framework Convention on Climate Change (UNFCCC).1 These include; mitigation, adaptation and loss and damage. Mitigation is defined as the actions taken to reduce the emissions of greenhouse gases (GHG) into the atmosphere or enhance the removal of GHG from the atmosphere by ‘sinks. A ‘sink’ is a natural reservoir that absorbs more carbon dioxide than it produces.2 On the other hand, adaptation mechanisms are actions that states will need to put in place to counter the impacts of climate change that are already happening as well as prepare for future impacts. It is the implementation processes that can reduce our vulnerability to climate change impacts, such as sea level rise or deforestation.