Developing countries require direct and indirect financial and non-financial assistance to address the climate crisis. The COP27 announcement of a new Loss and Damage Fund as well the unveiling of the Bridgetown Initiative collectively hold substantial promise to alter the course of climate multilateralism. The outcome of COP27 has presented unprecedented opportunities for the Global South to build global solidarity for climate justice, but the path ahead will not be easy. Materialization of support to developing countries may be, at best, not sustainable, or at worst, unforeseeable without consistent application of principles and values enshrined in historic, moral accountability for the climate crisis. With the threat of widening geopolitical divides in climate multilateralism, new reconstructed principles and values will be the bedrock for reforms.
"COP27 and the New Rise of the Global South,"
New England Journal of Public Policy: Vol. 35:
2, Article 8.
Available at: https://scholarworks.umb.edu/nejpp/vol35/iss2/8