A climate activist holds a placard during a protest organised by Extinction Rebellion to denounce the lack of measures against climate change ahead of COP26 in front of the Westfield Forum des Halles shopping centre, in Paris on October 31, 2021. Photo: Reuters On the last official day of the 26th UN climate conference (COP26) in Glasgow, Scotland last year, …

The series of extreme weather events in 2022 fuelled by climate change that devastated lives and livelihoods of millions – from the floods in Pakistan and China to droughts in Somalia, Ethiopia, Brazil, and Europe – set a clarion call for the long-awaited climate finance, also known as loss and damage finance. After years of hard negotiations, at the world’s …