'Loss and Damage'
Western European and Others Group
The Group of Western European and Other States (WEOG) is one of the five United Nations regional groups, comprising 28 member states. While its core members are from Western Europe, it also includes countries from North America, the Eastern Mediterranean, Fennoscandia, and Oceania. Unlike most other UN regional groups, WEOG’s membership is not solely based on geography but on geopolitical alignment. Its members are generally part of the "Western world," made up of affluent, developed liberal democracies, often associated with NATO or the broader US-led military-economic community.
WEOG serves as a non-binding forum for dialogue on regional and international issues. It also plays a role in helping allocate seats on United Nations bodies by nominating candidates from within the group.
Stance on 'Loss and Damage'
At COP28, the Western and Other States group has continued to emphasise the importance of climate finance, declaring that $600 billion in contributions should be made to install new financial mechanisms. International financial institutions, such as the World Bank and the IMF, which are mostly funded by the global north, are simultaneously stepping up and increasing their financial contributions to climate projects. The WEOG recognises their role as leading industrialised nations, and in the previous COP pledged support to increase funds for lower- and middle-income nations. There are tensions, however, as according to developing nations, not all the money pledged has been committed.
Furthermore, a new financial mechanism to be introduced at COP 28 is the Loss and Damage fund. It is designed to help climate-vulnerable countries, as WEOG countries, such as Germany and other nations, are pledging significant contributions to the fund. These contributions, however, do not come close to the amount climate-vulnerable countries might need to compensate for their damages.
Further Reading
Authors
This is a Paragraph. Click on "Edit Text" or double click on the text box to start editing the content and make sure to add any relevant details or information that you want to share with your visitors.
