Ranging from extreme drought to apocalyptic floods and rising sea levels, climate change impacts are wreaking ever more severe destruction globally, causing widespread ‘loss and damage’ with disastrous implications for affected communities and countries.
The mobilization of finance to address loss and damage is a core priority for many developing countries, and a key issue in the UN climate negotiations. Though the topic has gained increased political traction in recent years, it remains contentious and complex.
Finding a pathway forward for the Loss and Damage finance agenda is important for meeting the needs of affected communities, and for restoring trust between developed and developing countries in the climate talks. Improving the international response to loss and damage may also yield security benefits for developed and developing countries alike.
This research paper maps the political landscape on Loss and Damage finance, with the aim of increasing understanding of different countries’ perspectives and identifying pragmatic, politically realistic steps that could be taken in the near term to start building consensus among governments around a way forward.