IEL Flashcards
As discussed, the nation is in a rather precarious position when it comes to loss and damage negotiations under the UNFCCC. This final segment will focus on how China,alongside other countries belonging to the global south such as Tuvalu, want countriesof the global North to cooperate in the compensation of environmental and adaption-related damages by using their influence over the world bank legitimately and fairly. Thislegitimacy is imperative For COP 28 to be effective in its distribution of the loss and damagefunds.
To understand the demands of LDEs, principle 22 of the Stockholm Declaration andthe common but differentiated responsibilities principle are key. Principle 22 placesemphasis on the need for jurisdictions to compensate others whereenvironmental damage has been caused. This means countries must work together to develop a frameworkthat not only supports LDEs but also holds each other accountable when rules are broken.
CBDR aims to foster equity, recognising that not all states can be equal in their contributionto adaptation efforts. The island nation of Tuvalu is experiencing sea level rises 1.5x fasterthan the global average. The fund, if successful will be imperative in the relocation of itspopulation.
The World Bank has hosted many funds, including environmental funds, such as the GlobalEnvironment Facility Trust Fund, however the organisation charges hosting fees which areoften cut from the fund and paid back into its bureaucracies
namely HDE countries such asthe USA who enjoy great influence over the world bank’s activity due to their financial contributions.
China should not bare responsibility for all these costs with respect to its position as adeveloping country who is already contributing to the environmental effort.
