In first-ever climate crisis amends, Nepal to get $21.6 million
The UN's Fund for Responding to Loss and Damage has approved $21.6 million for Nepal following catastrophic flash floods. This marks the first time the fund has been used, signaling a shift toward holding historical polluters accountable for climate-induced disasters in vulnerable nations.
Why it matters
This sets a significant precedent for international climate finance, establishing a mechanism for rapid response to extreme weather events in developing countries.
NEW DELHI: Marking its first response to a climate change-induced loss and damage event, a UN body has decided to provide $21.6 million to Nepal that faced catastrophic flash floods in Aug, triggered by a massive rock-ice avalanche and a partial glacier collapse.The decision taken this week by the UN body, the Fund for Responding to Loss and Damage (FRLD), in its emergency meeting assumes significance as it is not only a kind of admission that climate change causes such extreme events, but also an endorsement of the principle that historical polluters (developed nations) must contribute to the fund to assist vulnerable developing countries.The purpose of this fund, created under the UN climate change…
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