Funding needs for climate disasters rise ‘more than 800%’ in 20 years

Last year was the third costliest on record for extreme weather, as total economic fees climbed to approximately $329bn – worryingly, a figure nearly double that of the total aid ever given by ‘donor’ countries.

In the last five years, regions disproportionately affected by climate change have appealed for between $63bn and $75bn in emergency human aid and have been left with a sizeable shortfall of $35bn to $42bn. Oxfam has rightly condemned the current gap as ‘piecemeal and painfully inadequate’.

In a plea to show some increased urgency, Danny Sriskandarajah, Oxfam GB’s chief executive said: ‘Wealthy countries like the UK need to take full responsibility for the harm their emissions are causing and provide new funding for loss and damage caused by climate change in the poorest countries.’

In a virtual address to the Bonn Intersessional today, First Minister @NicolaSturgeon has said now is the time to show leadership on loss and damage ahead of COP27.#BonnClimateConference pic.twitter.com/tV2wUQfCVZ

— First Minister (@ScotGovFM) June 7, 2022

Dismayed in the run up to COP26 last November, some campaign groups discovered that the UK had actually scaled back its aid to climate-disaster struck countries.

When the summit was underway, we also heard of several blocked attempts from financial powerhouses to set up improved mechanisms covering loss and damage. These will now be reviewed in Germany, theoretically.

If you want to look at the situation optimistically, the G7 foreign minister announced last month that loss and damage is indeed on the agenda. Whether or not the Germany meeting will provide the vital U-turn in attitudes needed, though, remains dubious.

Fittingly summarising the situation, Asad Rehman, director at War on Want, compared the nihilistic outlooks of rich countries to this point as ‘committing arson on a planetary scale.’

After all, who inflicted this damage in the first place?