COP27: UK government must champion a new international fund to compensate poorer countries affected by the climate crisis

As world leaders get ready to meet at COP27 in Egypt, Islamic Relief is calling on the UK government to champion a new international fund to compensate poorer countries for the loss and damage caused by the climate crisis.

Current extreme weather disasters – such as the drought in the Horn of Africa, which is suffering an unprecedented five failed rainy seasons, and Pakistan’s worst floods in living memory – are destroying people’s lives and livelihoods on an unprecedented scale and costing tens of billions of dollars.

By 2030 it is projected that climate change will cost developing countries up to $580 billion in Loss and Damage. Yet, despite repeated discussions in recent years and this being the most critical issue for many poorer countries, there remains no dedicated global Loss and Damage finance facility.

Islamic Relief is calling for the countries with the largest emissions to pay for the fund. It should also be in the form of grants, not loans that trap poor countries deeper into debt.

Rich nations are also failing to keep their promise of providing $100 billion a year in climate financing, at the same time as global military spending for the past year reached $2.1 trillion – 21 times what’s been pledged on the climate crisis.

Shahin Ashraf MBE, Head of Global Advocacy, Islamic Relief Worldwide said: “As world leaders prepare to meet at COP27 in Egypt, we’re calling on the UK government to champion a new international fund to compensate poorer countries affected by the climate crisis.

“We have seen climate change wreak havoc and destruction on some of the poorest communities around the world, often those who are the least responsible for the crisis. Cyclones, floods and droughts are destroying people’s lives and costing tens of billions of dollars. This year, one-third of Pakistan was affected by some of the worst floods the country has ever seen, and East Africa has been facing the harshest droughts in 40 years, leaving countless people hungry.

“It’s time for action and the countries with the largest emissions must take responsibility and pay for a new international fund to compensate poorer countries for loss and damage and ensure that at least 50% of global climate financing is spent on adaptation. We’re also calling on the UK to “keep 1.5 degrees alive” by setting out how we will reduce emissions, end our dependency on fossil fuels and invest in clean energy.”

Islamic Relief is calling on all governments at COP27 to:

In a new report, “The land is aching: Extreme climate-induced flooding in Pakistan,” Islamic Relief highlights how, without more support for Loss and Damage, countries like Pakistan will sink deeper into debt and poverty every time they are hit by climate disasters. Pakistan contributes 0.1% of global emissions, yet the floods are expected to cost Pakistan’s economy $20-30 billion and have caused massive damage to infrastructure, as well as destroying many rural agricultural and pastoral livelihoods.

As well as calling for any new global Loss and Damage finance facility to include the Pakistan floods, it also calls for automatic interest-free debt moratoriums for all developing countries that are experiencing climate disasters.

ENDS

Notes to editors

For any questions or to request to interview one of our spokespeople, please contact: [email protected] 020 3148 3217

Islamic Relief UK have published a new report on Pakistan and climate justice which can be found here.

About Islamic Relief

Islamic Relief is a faith-inspired, development and humanitarian agency working to transform and save the lives of some of the most vulnerable people in over 40 countries. Islamic Relief assists people according to need and does not discriminate in any way.

Set up in Birmingham in 1984 by a group of volunteers, we have assisted over 117 million people all over the world. We’re saving lives and empowering people to lift themselves out of poverty in over 40 countries – from Bangladesh to Bosnia, Pakistan to Palestine, Kenya to Kosovo. Islamic Relief is on the ground in some of the world’s most dangerous and difficult places – including Syria and Yemen – strengthening the most marginalised communities to withstand conflict and natural disasters and to build a brighter future. We also support vulnerable people in the UK in partnership with local charities and organisations.

For more information on the status of national climate plans, see https://climateactiontracker.org/climate-target-update-tracker-2022/

The UNFCCC NDC Synthesis Report (26th October), which projects that current pledges put the world on a pathway to warming of 2.5 degrees Celsius, is available here: https://unfccc.int/documents/619180. The UNEP Emissions Gap Report (27th October), which warns that this could reach 2.8 degrees Celsius, is available here: https://www.unep.org/resources/emissions-gap-report-2022

According to annual research by the Stockholm International Peace Research Institute (SIPRI), global military expenditure surpassed $2 trillion for the first time in 2021: https://www.sipri.org/sites/default/files/2022-04/fs_2204_milex_2021_0.pdf