Compensate Climate Losses

As the two-week-long 27th Conference of Parties to Climate Change (COP27) heads for its conclusion in Sharm el-Sheikh of Egypt on Friday, the Small-Island Developing States (SIDs) and Least Developed Countries (LDCs) have ramped up their call for compensating for the unavoidable losses and damages from the impacts of climate change. The vulnerable countries including Nepal, have demanded the establishment of climate fund to address the loss and damage (L&D) of lives and property, which can’t be averted through adaptation and risk reduction strategies alone. Nepal that hosts scores of snow-capped mountains, including the world’s tallest peak Sagarmatha (Mt. Everest) and glacial lakes, is at higher risk of climate change that has been triggered by rising temperature globally. Climate-induced loss and damage are not only real for Nepal but they are multiplying at an alarming rate year after year.