Globally, people are disproportionally affected by climate change consistently and are enforced to adapt, with or without external assistance. Nonetheless, the current mitigation and adaptation efforts have been deemed insufficient to resist losses and damages (L&D), particularly in vulnerable countries from the Global South. Amongst this countries, mainly women, people with disability, and other marginalized communities with less adaptive capacity, are suffering from unavoidable losses and damages caused by climate change (Boyd et al., 2021; Ojha & Dahal, 2022). It is also reported that vulnerable countries have gone beyond their ability to adapt due to frequent and intensified extreme weather events and poor institutional and financing capacity to manage the irreversible risks. In some countries and localities, it is already too late to solve the problem with conventional adaptation interventions (Kumari, 2022).
For decades, vulnerable countries which largely include LDCs (Least Developed Countries) and SIDS (Small Island Developing States) have been calling on developed countries to accept the historical responsibility for increased GHG emissions leading to rising global temperature and losses and damages; even before the establishment of the UN Framework Convention on Climate Change (UNFCCC) in 1992. After decades of negotiations, a landmark agreement was reached in the 2022 UNFCCC Conference of the Parties (COP27) to establish a new funding arrangements for responding to loss and damage associated with the adverse effects of climate change1”1. The objective of this fund is to ensure that rich countries contribute to the fund being channeled to poorer countries to address losses and damages. The disbursement of fund will adhere to the principle of climate-just action and take a reparative approach by giving direct compensation, building local communities and institutions’ capacity, and using locally led actions to address losses and damages and enable sustainability
