Hi,

Hope you are well !

 

Things are beginning to heat up as we edge closer to COP28 - the next major global climate negotiations, to be held this November. 

Among on-going negotiations, the “Loss and Damage Fund” (established last year, after a decade long struggle by developing countries) is facing challenges, due to difference of opinion between developed and developing countries.

The fund is essential for ensuring new, additional and predictable finance for communities most affected by rapid onset impacts of climate change, such as tropical cyclones, and slow onset impacts, such as sea level rise.

Note: 

The current sources of climate finance are mostly loan based, which increases the debt burden of developing countries that are already facing development challenges.

 

Stay mindful, 

Harish, 

Team OnePointFive Tribe