COP28 last week kicked off a formal deal on a loss and damage fund that’s been decades in the making, writes DEVEX Newswire. Financial pledges were made up to $100 million, but the United States came under fire for its rather miserly contribution of $17.5 million. "Regardless, if past is prologue, it will take ages before any money starts flowing to countries in need", . Even then, there will be a scramble over who gets what. At the top of the list, though, should probably be Somalia.
"An unrelenting cycle of historic droughts and torrential floods has pushed hundreds of thousands into camps for the displaced" according to Colum Lynch. And while the country averted a famine this year, Lynch writes that the specter of mass hunger stalks Somalia and Somalia is actually running out of water.
"There needs to be a quantum leap in climate financing to Somalia to mitigate and adapt to impacts of climate change. In the long run, famine in the country can only be prevented by including genuinely transformative climate action", Lynch is citing an internal U.N. report, marked strictly confidential. => https://devex.com