The impacts of climate change have proved highly uneven, with vulnerable communities and countries of the Global South hit the hardest. The resulting losses and damages are beyond the adaptive capacity of those communities and countries. The problem is getting even more catastrophic, as effective provisions for managing the cost of increasing climate related losses and damages are lacking across the Global South.
Small Island States (SIDS) are particularly on the verge of extinction. Mountainous countries like Nepal and downstream countries like Bangladesh are also experiencing severe climate change induced losses and damages, according to their respective country assessments, and emerging research.
Therefore, proactively averting losses and damages from human-induced climate change has become urgent particularly for the world’s most vulnerable communities. Recognizing this urgency, Loss and Damage (L&D) has emerged as a pillar for tackling the climate crisis. The 27th COP in Sharm-El-Sheikh has agreed to establish a new financing mechanism for L&D.
However, this pillar is beset by a lack of clarity on basic principles of operationalization. Against this backdrop, this project was developed jointly by ICCCAD and IFSD and financially supported by IDRC.