Scaling Up Loss and Damage Funding for Climate Vulnerable Countries

Risk sharing systems and insurance/capital markets can scale up Loss and Damage (L&D) funding in vulnerable countries, according to a report. Wealthy nations could provide $25 billion in annual protection against climate disasters for 100 vulnerable countries. The UN Environment Programme's Adaptation Gap Report reveals a significant shortfall in adaptation finance, with a gap of nearly double the modeled cost of adapting. Poor and vulnerable countries are not benefiting enough from pre-arranged climate disaster finance, highlighting the need for increased access and commitment from developed nations.