ZIMBABWE'S government has stressed the urgent need to scale up the Loss and Damage Fund, a crucial lifeline for developing countries confronting the harshest impacts of climate change.
Established at COP27, this fund is intended to provide financial support to countries grappling with both sudden and slow-onset climate disasters, from catastrophic floods to creeping droughts and sea-level rise.
In a position paper prepared ahead of the COP29 climate summit in Azerbaijan, Zimbabwe’s Ministry of Environment, Climate, and Wildlife highlighted the importance of enhancing access to the fund and making it easier for vulnerable countries to navigate.
With the conference set to run from November 1-22, Zimbabwe’s message is clear: significant funding is needed to make the Loss and Damage Fund effective, with predictable, timely, and accessible support.
“Zimbabwe wishes to emphasise that, based on the severity of the effects of climate change, substantial amounts of resources are needed to capitalise the fund to ensure predictable, sufficient and timely provision of funds to countries in need,” the paper reads in part.
“The country expects the access modalities to the Loss and Damage Fund to be streamlined, simplified, efficient and structured in a timely manner based on the likelihood and prediction of climate related disasters.”
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At COP28, negotiators reached a milestone agreement to operationalise the fund, entrusting the World Bank with its management. The role of the World Bank will be to host the Fund secretariat, and to provide trustee services for it.
However, Africa, despite being one of the regions’ most acutely affected by climate change, receives only about 12% of the estimated US$300 billion it needs annually to manage the escalating costs of adaptation and resilience.
The paper notes that the effects of climate change — already visible in Zimbabwe — are dire.
Rising temperatures and erratic rainfall patterns have led to widespread crop failures and food insecurity across Southern Africa, affecting over 20 million people.
Recent water shortages in Zambia and Zimbabwe triggered cholera outbreaks, with both nations declaring states of emergency, underscoring the need for urgent climate finance.
Zimbabwe is also advocating for a new climate finance goal, alongside other African countries, to increase funding to US$1,3 trillion per year by 2030, adjusted according to the evolving needs of developing nations. This target, known as the New Collective Quantified Goal (NCQG) on Climate Finance, builds on the US$100 billion per year goal originally pledged under the Paris Agreement.
“Zimbabwe also calls for developed countries to provide resources for undertaking studies to inform the preparation of projects for accessing resources from the Fund for responding to loss and damage,” the paper states.
“It is Zimbabwe’s expectation that funding for loss and damage should not only address immediate needs but also medium to long-term recovery needs of local communities.”
Zimbabwe requires an estimated US$10,3 billion for adaptation projects as laid out in its National Adaptation Plan through 2030, with an additional US$4,8 billion needed to support its Nationally Determined Contributions (NDCs) aimed at mitigation.
Globally, adaptation costs range from US$215 billion to US$387 billion annually — compared to approximately US$1,6 trillion for mitigation, which primarily targets the energy sector.
“Given the large number of adaptation measures that we need to implement across every sector, from agriculture to water, health to infrastructure, to social protection, the adaptation cost projects are underrated.
“Zimbabwe requires about US$1 billion annually for adaptation alone. The real costs of adaptation are much higher and it’s important that we first have a more realistic picture of what’s needed,” excerpts from the paper further read.