The Loss and Damage Fund, which aims to provide financial assistance to nations most vulnerable and impacted by climate change, has been a hot topic of debate globally. The 28th Conference of the Parties (COP28) of the United Nations Framework on Climate Change (UNFCCC) delivered a historic agreement on operationalizing the Loss and Damage Fund, with initial contributions of up to 700 million US dollars, to help developing countries cope with the devastating impacts of climate change. Following this milestone, negotiations are ongoing on how the fund is to be governed in an equitable manner; which countries should contribute; how adequate financial support can be mobilized; and how the funds should be allocated, disbursed and accessed by vulnerable communities and countries.
Based on this scenario, the fourth edition of Just Transition Forum Asia (JTFA) – a flagship international virtual event co-hosted by the Regional Climate and Energy Project of Friedrich-Ebert-Stiftung (FES) Asia and Climate Action Network Southeast Asia (CANSEA) since 2021 – created the space for further discussions under the theme “Emphasizing Finance for Loss and Damage in Just Transition”.
Held from 4 to 6 September 2024, this year’s forum featured representatives from the United Nations, governments, civil society organizations (CSOs), youth, trade union, academia and private sector to share their multistakeholder perspectives on loss and damage and just transition in two plenary panel sessions. These were complemented by 10 transformational labs hosted by various organizations to update participants on the latest developments on climate justice and finance across sectors, regions and countries. JTFA 2024 highlighted the urgent need for climate finance, called for collective efforts across borders and sectors to address challenges, and inspired innovative ideas and new collaborations to move forward and push for solutions that are equitable, sustainable, and just.
JTFA 2024 continued the trend of serving as a springboard for leading experts from governments, climate funds, businesses, think tanks, trade unions, youth and women organizations, CSOs and communities in Asia and beyond, to make policy recommendations on shaping a socially inclusive and climate-resilient future in the Asian region, based on just transition.
Check the full highlights in JTFA 2024 Summary Report.
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Check out highlights here.
We captured some of crucial insights from 10 Transformational Labs here!
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