Last year at COP27 we saw the establishment of the new Loss and Damage Fund. While this is one of the most consequential climate decisions since the Paris Agreement, we are yet to see whether this new financial mechanism will actually reach Indigenous communities on the frontlines of climate change impacts. Current experience tells us that very little of the money committed to fighting climate change has reached Indigenous Peoples, and local communities. A recent progress report says that only 7% of funds from the $1.7 billion pledge made in Glasgow have gone directly to Indigenous Peoples, and local communities. As the Transitional Committee established to provide recommendations is drafting proposals for the management of this new fund for consideration and adoption at COP28, it is necessary to reflect on what a successful Loss and Damage Fund looks like for Indigenous Peoples. Increased direct funding via Indigenous-led or Indigenous-governed mechanisms and organizations is crucial to support Indigenous climate solutions and make climate financing efforts effective. Just as important we will discuss how Indigenous-led and Indigenous-governed funds are different from other funds and can support Indigenous-led climate solutions better. 

Main objectives:

• Assess the current challenges and barriers preventing effective allocation of climate funds to Indigenous Peoples, specifically focusing on the lack of direct funding.

• Explore potential strategies and mechanisms that can ensure increased direct funding via Indigenous-led or Indigenous-governed mechanisms and organizations for effective climate financing efforts.

• Provide recommendations to build effective financial mechanisms for Indigenous Peoples, specifically highlighting the importance of prioritizing and empowering Indigenous Peoples in the management of the Loss and Damage Fund to support Indigenous climate solutions.

Speakers:

• Devkumar Sunuwar (Koits-Sunuwar) - Community Media Program Coordinator, Cultural Survival; Board of trustees, UN Voluntary Fund for Indigenous Peoples - moderator

• Galina Angarova (Buryat) - Executive Director, Cultural Survival

• Helen Magata (Kadaklan) -Coordinator, Climate and Biodiversity Program, Tebtebba Foundation; member, Indigenous Peoples Advisory Group, Green Climate Fund

• Elaine Shajian (Awajun) - President of the Regional Coordinator of Indigenous Peoples of San Lorenzo (CORPI-SL)

• Jorge Perez Rubio (Murui-Muinane) - President of AIDESEP