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

Historic!

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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.

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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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