Published By: ifsd-editorial

Date: December 1, 2023
Operationalising the Loss and Damage Fund: Delivering Finance to the Most Vulnerable

As human-induced climate crisis worsens, losses and damages are escalating, with each new event shattering records from the past. There is unequivocal scientific evidence to support that climate-induced disasters and slow-onset risks will continue to increase (IPCC, 2021; NASA, 2023). The ongoing mitigation and adaptation efforts are insufficient, and vulnerable communities and natural ecosystems are fast reaching their adaptation limits (OECD, 2021; IPCC, 2022). The agreement to establish a new Loss and Damage (L&D) Fund in 2022 offered a new ray of hope. However, progress is slow, and disagreements continue, as seen in the Transitional Committee (TC) processes on operationalising the L&D Fund.

We are in the middle of an unparalleled moment of climate injustice, where delayed actions are resulting in an intolerable loss of human lives and critical ecosystems at the forefront of the climate crisis. This Policy Brief offers some insights as to how the new L&D Fund can be operationalised to restore climate justice. Our messages and evidence originates from direct engagement with some of the most vulnerable communities in Vanuatu, Nepal, Bangladesh, and Senegal, as part of the Strengthening Loss and Damage Response Capacity in the Global South (STRENGTH) project.

Full document can be found here – STRENGTH Policy Brief

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