UN climate fund makes first rapid payout, to Nepal, far short of need

· Climate · Nepal

A United Nations fund meant to help developing nations pay the costs of climate change voted Thursday to allocate money to Nepal as the country recovers from devastating flooding in August. It was the first time the fund has allocated money to a vulnerable country in an immediate response to a climate disaster. The decision is described as historic but far short of the scale of need, as demands on loss-and-damage finance grow with each extreme event. The fund was set up to channel money from wealthy emitters to countries hit by floods, droughts and storms, and its speed and size are closely watched by recipient governments.

Why it matters：Loss-and-damage finance is the most contested frontier of climate diplomacy; whether the UN fund can disburse quickly and at scale will determine its credibility with vulnerable countries.

Key points

  • Nepal is recovering from devastating flooding in August.
  • It is the fund's first allocation as an immediate disaster response.

Sources (original reporting)

More stories from this day