📢 The Philippines has been unanimously chosen as the host country for the #LossAndDamage Fund, granting it an independent legal personality.

My reaction to the new OECD report on Climate Finance and the USD 100 Billion Goal "The recent OECD report, indicating that rich countries have likely met their $100 billion climate finance target in 2022, reveals a bitter inequity. The prevalent approach to climate finance, dominated by loans instead of grants, increases the debt burden on developing nations and cuts down vital adaptation finance. "While developing countries are pressed to ramp up their emission reduction efforts, they are deprived of substantial and genuine assistance. This 'support' mostly comes in the form of loans, exacerbating financial disparities. In a stark contradiction, rich countries continue their heavy investments in fossil fuel expansion, the root cause of the climate crisis. This paradox underscores the gross injustice at the heart of global climate policy. "In reality, developing countries are largely left to grapple on their own, facing not only the challenges of transitioning to greener economies but also the severe impacts of climate change. This situation is exacerbated by the global climate discourse, which, steered by wealthy nations, exhibits a significant lack of real commitment to justice and equity. Therefore, it is imperative that rich countries radically shift their approach, focusing on providing substantive support rather than resorting to symbolic gestures." - Harjeet Singh, head of global political strategy at @CANIntl #ClimateFinance @COP28 oecd.org/climate-change/fina…