African Group of Negotiators claims over $800 million mobilized for Loss and Damage fund

The African Group of Negotiators (AGN) has mobilised more than US$800 million in pledges to support vulnerable countries in addressing the impacts of climate change under the newly established Loss and Damage Fund.

The Fund was agreed upon in November 2022 during the Conference of Parties (COP27) in Sharm el-Sheikh, Egypt, where countries also set up a Transitional Committee to develop recommendations on how it would operate.

Speaking at a media briefing in Lusaka on Tuesday, former AGN Chairperson, Collins Nzovu, said African countries had played a key role in pushing for the adoption and operationalisation of the Fund.

“We also wish to express our sincere appreciation to our cooperating partners and local environmental champions whose continued support and advocacy remain critical in advancing Zambia’s climate agenda,” Nzovu said.

He said Zambia was instrumental in advocating for the establishment of the Loss and Damage Fund, recalling that after his appointment in 2021, he attended COP26 in Glasgow where he was elected Chair of the African Group of Negotiators at ministerial level, while President Hakainde Hichilema chaired at Heads of State level.

Nzovu said although limited progress was made at COP26, the Glasgow Climate Pact initiated a three-year dialogue on financing arrangements for loss and damage, helping to build momentum.

He noted that the 24-member Transitional Committee later held several meetings and workshops to define the structure of the Fund, including its governance and hosting arrangements.

He said a major breakthrough was achieved on November 30, 2023, at COP28 in Dubai, where the Fund was officially operationalised following the adoption of the committee’s recommendations.

He added that under President Hichilema’s leadership, Zambia’s participation at COP28 focused on advancing national priorities such as securing climate financing, promoting green growth, and attracting investment in key sectors including renewable energy, agriculture and water development.

Nzovu further noted that President Hichilema played a role in the successful conclusion of the first Global Stocktake and championed the development of structured carbon markets to ensure communities preserving forests were fairly compensated while unlocking economic opportunities.

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