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Should Singapore contribute to COP27 loss and damage fund?
An analysis of trade-offs and benefits is needed, as well as greater clarity on the basics of climate change compensation
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The agreement to set up a loss and damage fund at COP27 has implications for Singapore, and it is prudent to examine them closely, say the authors.
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Euston Quah and Tan Jun Rui
A key outcome of the recently concluded COP27 United Nations climate change summit in Egypt was the agreement to set up a loss and damage fund. The global fund, hailed as a breakthrough deal, will provide financial aid to poorer countries hit by climate disasters.
Singapore’s Minister for Sustainability and the Environment Grace Fu welcomed it as a positive move, but said that the possibility of the Republic contributing to a donor base for climate finance was still to be negotiated.
