Understanding the EU's role in the formation of the Loss and Damage Fund at UN COP27 in Egypt - Seminar recap
On February 6th, 2025 the OHPA hosted a seminar with Prof. Michal Kolmas, Associate Professor at Metropolitan University Prague, on the European Union’s role in the formation of the Loss and Damage Fund at COP27 in Egypt. His research examines the EU’s evolving position on climate reparations for Global South nations, analyzing the political shifts that led to its reluctant endorsement of the fund.. Initially resistant to the concept of climate compensation, the EU reversed its stance at COP27 under mounting global pressure, media scrutiny, and strategic trade-offs. Although European policymakers preferred to strengthen existing financial mechanisms, the EU ultimately supported the fund to maintain its image as a global climate leader.
Prof. Kolmas emphasized that the Loss and Damage Fund, designed to channel financial aid from the Global North to the Global South, faced significant hurdles during negotiations. The EU sought to impose conditions such as restricting aid to the most vulnerable nations, integrating the fund into establisehd financial structures, and securing contributions from emerging economies like China and Saudi Arabia. However, many of these objectives were not fully achieved. The fund was ultimately placed under the oversight of the World Bank, reinforcing Global North influence over its operations. The seminar concluded with a broader reflection on the geopolitical implications of climate finance, the growing negotiating power of the Global South, and the challenges facing international climate governance in an era of rising economic and environmental inequalities.
The full talk as well as the subsequent discussion is available to view on YouTube here: https://youtu.be/qnuxuoAvf60