Scotland will announce new funding for climate change losses and damage that vulnerable countries fall beyond the scope of human adaptation, Sky News can reveal.
“We will announce a further financial commitment to loss and damage,” First Minister Nicola Sturgeon told Sky News during the COP27 climate summit in Sharm el-Sheikh.
The extra money, she said, would look “in particular at the non-economic losses and damages that many countries are suffering,” which could include things like the loss of culture and traditions.
Economic damage ranges from the loss of jobs from collapsing industries, the loss of buildings to hurricane damage, or the loss of entire communities and towns as sea levels eat away at coastlines.
“It will be another very important part of Scotland’s determination to see real progress behind an issue that should have been solved years ago,” she said.
During the COP26 climate talks in Glasgow last year, Scotland became the first developed country to commit finance to the controversial issue. The promised £2m was small but helped break a taboo around the issue. Since then, Denmark has promised DKK 100m (£11.8m).
More details on the new funding are expected on Tuesday.
Vulnerable countries, which are often the least responsible for climate change but are suffering the worst impacts, have been begging for financial help for years.
The rich, polluting world that includes the US and the EU has always been wary of what it fears could open the door to endless claims and accusations of liability.
But the devastating effects of climate change are so severe, countries have been more open to discussing it, despite fiercely avoiding it being framed as “compensation” or “compensation”.
COP27 opened with a breakthrough yesterday as the issue of financing such losses It was put on the agenda for the first time at a United Nations climate talk.
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