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'Loss and Damage'

The Environemental Integrity Group 

The Environmental Integrity Group (EIG) is a coalition of countries that was founded by Liechtenstein, Mexico, the Republic of Korea, and Switzerland and was established in September 2000. Monaco joined in 2001 and Georgia in 2017.

Stance on 'Loss and Damage'

The EIG regards climate finance as essential for supporting climate action. Over time, members have advocated for robust and transparent finance architecture. Moreover, according to the EIG, the involvement of the private sector, in the form of public-private partnerships, is vital for scaling up climate finance. 

 

The group consists of climate finance providers on a voluntary basis, and developing climate finance recipients. This representation has allowed the EIG to significantly contribute to previous negotiations. They stipulated the need to develop the distinction between provision and mobilization of climate finance to address concerns by developed and developing countries.

The EIG promotes a balanced North-South approach, whereby LDCs facing significant challenges are provided with adequate financial and technical support, alongside accountability and transparency. Still, the EIG believes credible differentiation is important, where countries with large developing economies ought to contribute to climate finance based on current capabilities.

 

The EIG recognizes loss and damage as an important issue, and encourages innovative financial strategies, including the Global Facility for Disaster Reduction and insurance-based systems. Furthermore, they stress the need for early warning systems and the integration of loss and damage measures into broader climate and development strategies.

Further Reading

  • Environmental Integrity Group (EIG) Liechtenstein, Mexico, Monaco, Republic of Korea, Switzerland, Submission on Loss and Damage, mexico-eig-input.pdf

Authors

Maya Tomasovic, Fleur Schneiders, Paulien Koolhaas

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