The first proposals on how countries can deal with the notoriously difficult area of climate change-related “loss and damage” have been launched to the guarded approval of nations struggling with the impacts of global warming and the wariness of high-income countries expected to foot the bill.
The Alliance for Locally Led Approaches for Transformative Action, or ALL ACT, laid out a plan for countries to create national loss and damage finance institutions to channel funding, coordinate planning and expertise, and establish resource centers such as a Loss and Damage Observatory to share information.
“Despite [the loss and damage] fund being announced at COP27, no funding is yet available to developing countries,” said Ritu Bharadwaj, the International Institute for Environment and Development researcher behind the ALL ACT proposals that launched in Dhaka, Bangladesh, on Monday. “The lack of … technical assistance, means it is challenging for vulnerable countries to manage … or prepare themselves.” She hoped her ideas would help to pool existing resources, including development and humanitarian funding, improve collaboration, and make money easier to access locally.
About the author
William Worley@willrworley
Will Worley is the Climate Correspondent for Devex, covering the intersection of development and climate change. He previously worked as UK Correspondent, reporting on the FCDO and British aid policy during a time of seismic reforms. Will’s extensive reporting on the UK aid cuts saw him shortlisted for ‘Specialist Journalist of the Year’ in 2021 by the British Journalism Awards. He can be reached at william.worley@devex.com.
