The loss and damage fund for vulnerable nations grappling with the escalating impacts of climate change that was inspired by Prime Minister Mia Mottley ought to be fully operational and well-funded, the environment minister has told the fund’s board meeting here on Tuesday.
Addressing international delegates at the fifth board meeting of the Fund for Responding to Loss and Damage (FRLD), held at the Hilton Barbados Resort, Minister of Environment and National Beautification, Green and Blue Economy Adrian Forde highlighted the disproportionate burden borne by small island developing states (SIDS) like Barbados.
The Loss and Damage Fund was established to address the irreversible impacts of climate change on vulnerable nations, particularly SIDS.
Forde stressed that the fund was “not a luxury, but a necessity” for vulnerable nations that are on the frontlines of worsening climate impacts despite contributing the least to global emissions.
“Today, our presence here signals something profoundly important, and that is our recognition of the need for action, for equity, and for urgency,” he said. “We gather not to talk about abstract futures or theoretical models but to highlight that climate change for SIDS is a threat and must be recognised as an emergency.”
Forde recounted the recent impact of Hurricane Beryl on the island, highlighting its devastating toll on the fishing industry.
“Her glancing blow left our fishing industry devastated… over 90 per cent of our boats were destroyed. Over $200 million in damages, hundreds of lives disrupted. Ladies and gentlemen, this is why a Loss and Damage Fund is not now a luxury; it is a necessity.”
With extreme weather events becoming more frequent and severe, he noted that adaptation alone is no longer sufficient.
He said: “The fund, in my opinion, signifies a symbol of international solidarity, but more importantly it must become a tool of practical fair play. For countries like Barbados and for many of our brothers and sisters across the globe, loss and damage is not something that we can adapt our way out of.
“We produce about two million tonnes of carbon; the world over, I suspect it is about 40 to 50 billion tonnes. Yet, we carry the heaviest burdens economically, socially, and environmentally. So if we are being candid, we must see this fund not as an experiment or a side project or a temporary measure but as a core instrument for long-term survival.”
He urged that the fund be equipped with a simple and realistic operational framework, equitable access to financing, and conditions that truly reflect the needs of impacted communities.
“The fund must have an operational mechanism that is simple and realistic. But in order for this to be achieved, there must be capitalisation, fair and transparent accessibility to financial resources, and the application of conditions that are responsive to the needs of lives and livelihoods. The communities and people who are most affected by serious climate events need to be assured that the Loss and Damage Fund is viable and can respond to their needs,” the minister explained.
After decades of advocacy, the fund was agreed upon at the UN climate change conference (COP27) in Sharm El-Sheikh, Egypt, in 2022, following a 30-year campaign led by developing countries. It was operationalised at COP28 in Dubai in 2023, with initial pledges from nations including Germany, the UAE, and the United States. The fund aims to provide financial support for communities facing devastating climate impacts and is governed by an independent board.
Prime Minister Mottley played a key role in championing the fund’s creation. Her Bridgetown Initiative and leadership at global climate summits highlighted the urgent need for equitable climate financing. At COP27, her advocacy helped secure agreement on the fund, and she continues to push for innovative funding mechanisms to ensure its sustainability.
(SB)
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