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THE ISSUE.
The climate crisis is here and now, and its impacts are not felt equally. For decades, climate-vulnerable developing countries have called for financial support as a matter of solidarity, obligations and equity to cope with and recover from the devastating consequences of a crisis they did little to create.
This is the issue of Loss and Damage
WHAT IS LOSS & DAMAGE?
Loss and Damage refers to the destructive impacts of climate change that go beyond what people can adapt to. It is not a future threat; it is the current reality for millions. It is:
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Economic losses, like destroyed crops after a drought or homes and livelihoods devastated or washed away by a superstorm.
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Non - economic losses, which are harder to measure but just as devastating, such as the loss of ancestral lands to rising seas, the destruction of cultural heritage, or forced displacement.
The Creation
of the Fund
After more than 30 years of tireless advocacy by developing countries and civil society, a historic breakthrough was achieved in 2022 at COP27.
The world agreed to establish a dedicated
Fund for Responding to Loss and Damage (FRLD).
At COP28 in 2023, the establishment of the Loss and Damage Fund was a monumental victory for climate justice. A dedicated fund under the UN climate regime to support developing countries and frontline communities to rebuild and recover from the devastating impacts of the climate crisis was urgently needed.
To this date, the Fund still remains an empty shell.
The Justice Gap: An Empty Fund is Not Justice
Despite its creation, the Fund remains a largely empty shell. Wealthy nations, who bear the overwhelming historical responsibility for carbon emissions, have made pledges that are a drop in the ocean compared to the hundreds of billions needed annually. The gap between what has been promised and what is required is a massive justice gap. With the current level of funding, it cannot meet the needs of millions of communities to rebuild their homes, restore
their livelihoods or deal with the consequences of displacement.
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