COP28 summit approves ‘loss and damage’ fund to compensate developing nations for climate impacts


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The issue with all such compensation is that it never really helps the people it is intended for which destroys the credibility of such projects as a whole. Funds are often misused, or people are misled about their origin.

Climate change has affected India in many ways, but it still needs a lot of further understanding, data, and documentation. I don’t even think we have recognized the tip of the iceberg when it comes to the communities and livelihoods affected by climate change, indirectly or directly. In a bid to score this fund, I am sure the government would start documenting such events with a more serious tone, but funds won’t help us unless we start having some rough and serious conversations around this with level-headed people and implement change mechanisms, and educate/create awareness amongst the masses of rural India.

The terrible also is that, if all you know to do with the money involves steel, concrete, tar, plastic and consultants, you’ll use it to make the problem worse. A lack of a better imagination and a consensus negates the money, and a good one sometimes negates the need for it. Money is surely a lever, but not the biggest one.

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