| India’s Focus on Mitigation • India has experienced over $56 billion in climate-related damages from 2019 to 2023 but has primarily focused on mitigation rather than adaptation. • The Rebuild Kerala Development Programme, funded by international loans, demonstrates the vital role of international climate finance in post-disaster recovery. |
- In light of the recent landslides in Kerala’s Wayanad district, discussions have emerged about whether subnational entities can seek compensation through the UNFCCC’s Loss and Damage Fund (LDF).
- The Loss and Damage Fund (LDF) was established at COP27, Sharm al-Sheikh, Egypt in 2022.
- The LDF aims to provide financial support for regions affected by climate change-induced losses, including extreme weather events and slow-onset processes like rising sea levels.
- It is overseen by a Governing Board, with the World Bank as an interim trustee.
- While mechanisms for direct access and rapid disbursement are being developed, concerns persist about delays in accessing funds, especially for local communities.
- The lack of standardized disaster damage assessments, especially for slow-onset events, hinders India’s ability to access LDF assistance effectively.
Dig Deeper: Read about the Adaptation Fund and Copenhagen Promise
