ET Commentary

Loss and damage fund: Keep count of climate resilience

Loss and damage fund: Keep count of climate resilience
Agencies

Synopsis

A $3-billion UN investment in early warning systems (EWS), the Coalition for Disaster Resilient Infrastructure's (CDRI) Infrastructure Resilience Accelerator Fund (IRAF) with a promised sum of $50 million, and the Global Shield Financing facility are some of the other funding sources that would support the agenda.

By , ET CONTRIBUTORS
5 mins read, Last Updated:
After an extended finale, COP27 achieved a landmark decision on the creation of the loss and damage fund (LDF), vindicating the position of the developing and least developed nations worst hit by extreme weather events. The fund is expected to address economic as well as non-economic losses, in terms of loss of lives, destruction to cultural heritage, migration and displacement, and health impacts due to climate-induced disasters. With the fund
( Originally published on Dec 09, 2022 )

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