Chapter 8: Against the headwind: innovative sources of loss and damage finance
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This chapter explores the current state of discussions on innovative sources of climate finance, and their potential to promote climate justice by helping to shift the financial burden of loss and damage costs away from highly vulnerable developing countries. The assessment finds that although most of the innovative sources have been considered technically feasible and capable of generating significant revenues that could be allocated for climate finance in general, and loss and damage finance in particular, the political economy obstacles of actually setting each of the potential innovative sources up remain formidable. With no obvious specific access point to innovative sources of finance in sight, the chapter concludes that the strategy should be one of placing loss and damage finance at the center of debates on the various potential sources, while working around the edges of obstacles to make incremental gains when opportunities arise. In addition, the chapter highlights how the lack of access to innovative sources in the short run elevates the importance of immediately completing the integration of loss and damage into the UN Climate Convention's financial framework. This integration will likely generate more robust information on current and future gaps in loss and damage finance that may prove key to help overcome the obstacles identified in this chapter.

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