Operationalizing the Loss and Damage Fund with Equity and Efficacy
Loss and damage refer to the adverse impacts of climate change that arise due to the failure of adequate ‘mitigation’ (the reduction of greenhouse gas emissions) or due to the lack of sufficient ‘adaptation’ (the building of resilience to adjust against current and future climatic impacts). These losses and damages range from economic (infrastructure, livelihoods, and property), and non-economic (loss of life and biodiversity, ecosystems, cultural and traditional heritage, and traditional knowledge and lifestyles among communities). These losses and damages may arise from extreme weather events, that have become more severe and prevalent due to climate change, as well as from slow-onset events such as glacier melting, rising temperatures, and sea-level rise.
This event seeks to explore the various challenges involved in the establishment and operationalization of the loss and damage fund, from three different perspectives, the political, financial, and scientific challenges that would need to be addressed for an effective loss and damage fund. Beyond highlighting these challenges, the event would aim to discuss solutions and a potential roadmap for the operationalization of the loss and damage fund in an inclusive and equitable manner that can aid developing countries in addressing the emerging and increasing adverse impacts of climate change.