Wednesday, October 5, 2022

Denmark Vows Funding For ‘Loss And Damage’ Due To Climate Change


Denmark Vows Funding For ‘Loss And Damage’ Due To Climate Change


How do you feel about this story?


Denmark pledged Tuesday at the UN General Assembly in New York to be the first country to provide funding to developing nations that have suffered “loss and damage” caused by climate disruptions.

During a ministerial meeting on the sidelines of the General Assembly in New York City, the country promised to provide 100 million Danish crowns (over USD13 million) in compensation as part of its climate aid to help climate victims in developing nations recover.

Danish Development Minister Flemming Moller Mortensen said it is “grossly unfair that the world’s poorest should suffer the most from the consequences of climate change,” to which they have contributed “the least.”

Mortensen said the funds would go to Africa’s Sahel region and other vulnerable areas affected by the climate crisis.

“With this new agreement, we are putting action behind words,” he added.

Last year at the UN Climate Change Conference in Glasgow (COP26), the G77, a bloc of more than 130 developing countries, demanded financial support for climate victims, but the initiative was blocked by the US, the European Union, and other rich countries.

Addressing the “loss and damage” in vulnerable countries was already agreed on under the Paris Agreement, but due to the fear of being sued by those countries affected by climate disasters, it was then rejected by the rich nations.

UN Secretary-General Antonio Guterres emphasized that the rich nations should support countries suffering losses and damage caused by the climate crisis by imposing taxes on windfall profits of fossil fuel companies. (PNA)

Latest News


The Talk

More Stories

Shopee Partners With Charity Organizations To Support Victims Of Typhoon Karding

As a help to victims of Typhoon Karding, Shopee launched the 'Shopee Bayanihan' in collaboration with other charity organizations.

‘Bulalo’ Keychains Boost Baguio Inmate’s Livelihood, Artistry

An inmate from Baguio City has made a keychain inspired by the 'bulalo' bone to help him earn for his family.

Davao City Opens ‘Lamayan Ng Bayan’ For Poor Dabawenyos

With the initiative of the local government, indigent residents from Davao City can have free funeral services through the "Lamayan ng Bayan".

Negros Occidental LGUs Urged To Activate Drinking Water Monitoring Bodies

The Negros Occidental Provincial Health Office called out the provincial government to deploy the local drinking water quality monitoring committees in response to cholera cases in the area.

Pasig Village Willing To Share Best DRRM Practices To Other LGUs

Barangay San Antonio in Pasig led the training for the local government heads from other regions in disaster risk reduction management.