The Global Coalition for Social Protection Floors (GCSPF) welcomes the decision to establish a Loss and Damage Fund. It is an important step towards climate justice. Estimates by scientists projecting climate damages ranging from $290 to $580 billion by 2030 and surpassing one trillion dollars by 2050 underscore the urgency of such measures.

Member organizations of the Global Coalition for Social Protection Floors collectively advocate for strategic utilization of financial resources from this Fund. A central concern is to specifically allocate fund resources for the establishment and fortification of rights-based Social Protection Systems. These systems play a pivotal role in mitigating the catastrophic consequences of climate change and adequately cushioning individual damages and losses, while contributing to increase resilience and improve adaptation.

The Social Protection Systems we call for encompass the right to preventive and curative health services and financial livelihood security, also in the face of crop failures or natural disasters, and support for dependent family members in the event of death. A Loss and Damage Fund, financed on the basis of the polluter-pays principle, can contribute to implementing these measures in particularly vulnerable countries.

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