COP28: Statement on Loss and Damage Fund

Mr. President, 

Norway welcomes and strongly supports the decision we have adopted today on loss and damage funding arrangements and the new Fund.  

This decision sets a clear path toward strengthening funding arrangements, including through the fund. The next steps in making the fund operational will still require a lot of work by its Board, and we therefore encourage early nominations of Board members.   

Mr. President, while celebrating the progress made, Norway is very disappointed that we could not agree on specific language in the governing instrument, for the Fund to take a human rights-based approach. However, we fully expect that the Board will ensure that the Fund operates in a way that respects and promotes human rights. 

We also fully expect that the Board early on will engage stakeholders, including youth, women and indigenous peoples in its proceedings and decision making.       

Mr. President,

We welcome the announcements of financial contributions made today and I’m pleased to say that Norway will announce a contribution to the fund during the World Climate Action Summit. And we look forward to further announcements in the coming days. 

But it is also important that the Board, once it is established, initiates an initial resource mobilization as soon as possible in order to encourage further contributions from Parties and a from wide variety of sources, in order to maximise financial input to the Fund. We should also enhance work on how to ensure other sources of financial input to the Fund, including innovative sources of finance. 

Lastly, Mr. President, while we can celebrate our decision on the funding arrangements and the new fund and its support, let us not forget the reason why loss and damage is now increasingly a challenge globally for us all.  

We know that we are not on the right path toward the long-term goals of the Paris Agreement, and that devastating effects of climate change will just worsen if we do not strengthen global efforts to urgently reduce greenhouse gas emissions.  

So, let us make sure that this COP delivers not only hope for support to those most vulnerable to the impacts of climate change, but that it also delivers a strong message that we collectively are taking steps toward strengthened mitigation action and keeping global warming below 1,5 degrees Celsius within reach. 

Thank you, Mr. President.