UNICEF Australia welcomes Australian Government contribution to Loss and Damage Fund at COP29, urges push towards equitable and ambitious global climate finance goal

UNICEF Australia welcomes the Australian Government’s contribution of $50 million to the Loss and Damage Fund at COP29. This commitment builds on a $100 million investment in the Pacific Resilience Facility (PRF) in 2023, and a $125 million investment in enhancing renewable energy access across the Pacific.

Loss and damage associated with climate change is one of the greatest intergenerational injustices faced by children and young people. Australia’s financial commitment to the Loss and Damage fund is a critical first step towards targeted support for those most affected by climate change, including children and young people across the Pacific.

Children and young people face particular forms of loss and damage, including impacts on their health and wellbeing and their cognitive and physical development. They miss out on school,  and face increased exposure to violence, exploitation and abuse. 

UNICEF Australia hopes to continue to work with the Australian Government to make sure that loss and damage finance recognises the distinct ways children and young people are being impacted by the climate crisis.

UNICEF Australia also calls on Australia to use its influence within the COP 29 negotiations and formal role as Ministerial co-facilitator to continue pushing for an ambitious and equitable New Collective Quantifiable Goal (NCQG). This includes recognising and counting critical Loss and Damage funding within the NCQG. 

References within the NCQG towards addressing the disproportionate impacts of climate change on children, and towards age-responsive finance can have significant impacts on children’s access to life-saving adaptation, recovery, and resilience-building initiatives, including in the Pacific, where 50% of people are under the age of 24.  

Finally, we hope that COP 29 captures progress made during the expert dialogue on children and climate change at SB 60 and ensures a longer-term commitment to addressing consideration of children in climate policies, investments and actions at national, regional, and multilateral levels.

20 November 2024