Berliner Boersenzeitung - Denmark paves the way for 'loss and damage' climate aid

EUR -
AED 4.099459
AFN 72.55656
ALL 90.854432
AMD 403.236651
ANG 1.997863
AOA 1024.725669
ARS 1725.716503
AUD 1.620032
AWG 2.009266
AZN 1.908969
BAM 1.95792
BBD 2.251649
BDT 139.310855
BGN 1.951032
BHD 0.422353
BIF 3344.903956
BMD 1.116259
BND 1.432558
BOB 13.416528
BRL 6.156839
BSD 1.11797
BTN 104.985685
BWP 15.400226
BYN 3.347906
BYR 21878.671669
BZD 2.248447
CAD 1.574248
CDF 2589.720669
CHF 0.914947
CLF 0.0277
CLP 1090.183107
CNY 7.452703
CNH 7.448895
COP 3616.432801
CRC 507.00375
CUC 1.116259
CUP 26.831195
CVE 110.384532
CZK 24.322276
DJF 199.07927
DKK 7.475501
DOP 67.930698
DZD 152.243187
EGP 60.341267
ERN 16.743881
ETB 183.485227
FJD 2.528995
FKP 0.835844
GBP 0.834074
GEL 2.896647
GGP 0.835844
GHS 13.069152
GIP 0.835844
GMD 83.157879
GNF 9901.932318
GTQ 8.547256
GYD 234.483915
HKD 8.751658
HNL 30.047001
HRK 7.555967
HTG 146.496769
HUF 362.944278
IDR 20214.050795
ILS 3.540654
IMP 0.835844
INR 104.731751
IQD 1695.636147
IRR 2111239.352217
ISK 136.8083
JEP 0.835844
JMD 177.430274
JOD 0.791445
JPY 176.643491
KES 145.068585
KGS 97.614372
KHR 4554.728771
KMF 493.386409
KPW 1004.632839
KRW 1507.256269
KWD 0.347224
KYD 0.931779
KZT 501.111442
LAK 25151.180911
LBP 100111.977802
LKR 371.774398
LRD 190.145903
LSL 18.488377
LTL 3.296022
LVL 0.675214
LYD 7.154286
MAD 10.933439
MDL 19.982972
MGA 5080.04349
MKD 61.557339
MMK 2343.536588
MNT 4019.833098
MOP 9.028977
MRU 45.135041
MUR 52.498031
MVR 17.176539
MWK 1938.561406
MXN 20.74952
MYR 4.533466
MZN 71.324403
NAD 18.488791
NGN 1506.414005
NIO 41.14465
NOK 10.535418
NPR 167.895587
NZD 1.993449
OMR 0.429201
PAB 1.118611
PEN 3.853072
PGK 5.095167
PHP 70.632393
PKR 309.195541
PLN 4.391217
PYG 6988.186673
QAR 4.088627
RON 5.333257
RSD 117.643055
RUB 91.531628
RWF 1650.125559
SAR 4.197709
SBD 8.984301
SCR 15.692146
SDG 671.429609
SEK 11.013898
SGD 1.42957
SHP 0.835992
SLE 25.617714
SLL 23407.392948
SOS 638.897077
SRD 41.952909
STD 23104.302586
STN 24.515236
SVC 9.786598
SYP 14513.596028
SZL 18.482073
THB 37.355611
TJS 10.318073
TMT 3.906906
TND 3.346924
TOP 2.687683
TRY 56.014648
TTD 7.581576
TWD 36.663741
TZS 2954.045111
UAH 50.646343
UGX 4574.954062
USD 1.116259
UYU 44.998728
UZS 13346.452419
VES 1000.52103
VND 28480.784096
VUV 133.12733
WST 3.111933
XAF 655.957
XAG 0.021125
XAU 0.000270979015
XCD 3.016745
XCG 2.015783
XDR 0.789253
XOF 655.957
XPF 119.331742
YER 264.134779
ZAR 18.399961
ZMK 10047.670755
ZMW 22.71661
ZWL 359.434865
SSP 6413.165902
MXV 2.332613
  • CMSD

    -0.1200

    19.81

    -0.61%

  • JRI

    0.0000

    10.77

    0%

  • BCC

    -1.8200

    74.15

    -2.45%

  • CMSC

    -0.2228

    19.53

    -1.14%

  • BCE

    0.2000

    20.34

    +0.98%

  • RIO

    0.0100

    94.17

    +0.01%

  • AZN

    -2.7400

    161.47

    -1.7%

  • GSK

    -1.1800

    48.17

    -2.45%

  • RBGPF

    0.0000

    65

    0%

  • NGG

    0.8800

    75.82

    +1.16%

  • RYCEF

    -0.7300

    19.08

    -3.83%

  • BTI

    -0.4500

    54.4

    -0.83%

  • BP

    0.4700

    43.99

    +1.07%

  • RELX

    -0.0600

    33.18

    -0.18%

  • VOD

    -0.1800

    16.15

    -1.11%

Denmark paves the way for 'loss and damage' climate aid
Denmark paves the way for 'loss and damage' climate aid / Photo: Fida HUSSAIN - AFP/File

Denmark paves the way for 'loss and damage' climate aid

It may seem a drop in the ocean, but the $13 million Denmark has earmarked as aid for climate change-related "loss and damages" set an important precedent.

Text size:

It might just end up helping open a fresh flow of aid to the world's most vulnerable countries.

Danish Development Cooperation Minister Flemming Moller told the UN General Assembly last month the money was for "climate adaptation and concrete activities to avert, minimise and address climate-induced loss and damage".

It would mainly help island states and countries in the Sahel region of North Africa, he added.

Denmark's gesture, however modest, represents an important contribution to the debate over the still-contentious notion of "loss and damages".

"In some ways, Denmark is a pioneer," said Lily Salloum Lindegaard, who specialises in the politics of climate change at the Danish Institute for International Studies.

Only Scotland and Belgium's Walloon government have made such commitments previously, she added -- and on a modest scale.

"But Denmark's commitment provides further progress if we are to address the extensive losses and damages already experienced due to climate change," Lindegaard told AFP.

"In comparison to the needs on the ground, the Danish commitment is quite small" given the scale of the problem.

But, she added: "The Danish commitment is more significant in political terms, as developed countries have long shied away from finance to losses and damages."

- Pushback -

As the consequences of global warming -- measured in lives lost and economic damages -- have piled up, calls for loss and damage as a separate category have mounted.

Developing nations see this kind of funding as compensation -- a form of reparations -- above and beyond "adaptation" support to build resilience against future impacts.

Rich nations, while acknowledging the need that developing nations have for aid, remain wary of setting a legal precedent that might suggest liability for any and all future damages.

"Climate finance to date has basically only gone to preventing climate change impacts and related losses and damages through mitigation and adaptation efforts," said Lindegaard.

And not every country is willing to go further, she added.

"There has already been some pushback from the US," said Lindegaard.

"However, the science of loss and damage is already quite clear and continues to develop quickly, which makes it increasingly difficult for countries to sidestep the issue."

- 'We are committed' -

As climate change amplifies the devastation of extreme weather events, pressure is mounting on developed nations to do more to help.

The world's most vulnerable countries in the Global South are least responsible for causing the problem -- the G20 group of major economies account for 80 percent of greenhouse gas emissions today, and even more historically.

Pakistan -- a nation of 220 million that has seen record monsoon rains this year linked to climate chang -- emits less than one percent.

Denmark's announcement at the UN Assembly General sent a clear message, Danish Development Minister Flemming Moller Mortensen told AFP.

"We are committed to helping the people and communities that are suffering from the consequences of climate change.

"These are the people that are losing their houses to floods, the farmers that are losing their harvest because of drought".

- Start of a dialogue -

At last year's COP26, developing countries did not get the commitments they were looking for on targeted financial commitments.

Rich countries agreed only to begin a two-year dialogue on the issue running through 2024.

Denmark spends some $2.9 billion annually on development aid according to the OECD, equivalent to about 0.7 percent of gross national income.

It has set a target of spending at least 60 percent of its aid on climate adaptation, and is the first country to specifically allocate funds to redress its impacts.

But even Denmark's commitment is short on details.

Its funds will be distributed between NGOs and a strategic initiative with details forthcoming, said the foreign ministry.

Their announcement was nevertheless widely seen as setting an important precedent.

It remains to be seen whether other countries will follow suit.

(O.Joost--BBZ)