The cost of delay: why finance to address loss and damage must be agreed at COP27

This brief presents a case as to why a loss and damage finance facility must be established at the 2022 United Nations Climate Change Conference (COP27). Finance in the aftermath of an extreme climate- or weather-related event is a necessity to counteract long-lasting negative effects. Despite 31 years of pressure, 26 COPs and multiple workshops and dialogues, no dedicated finance to help people deal with the aftermath of climate impacts – also known as “finance to address Loss and Damage” – has been delivered under the United Nations Framework Convention on Climate Change (UNFCCC).