Who will pay for the damage caused by climate change?

Author

Isabelle Gerretsen

Source(s)
British Broadcasting Corporation

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Every year Fiji deals with extreme events, ranging from powerful cyclones to prolonged droughts, says Satyendra Prasad, Fiji's ambassador to the United Nations. "One-tenth of our economy was wiped out by three events last year alone, when we were also fighting Covid-19. That is the difference between small and large states," says Prasad.

In 2021, Fiji launched a parametric insurance scheme, in partnership with United Nations agencies, that offers immediate payouts to poor women and other vulnerable communities after a disaster. This targeted finance helps them rebuild their lives following a catastrophe, says Prasad.

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Meanwhile in Pakistan, a pilot project launched by the Start Network, a coalition of 50 aid agencies and nonprofits, aims to take early intervention a step further. The network is trying to prevent extreme weather from leading to hunger and poverty by spotting the signs of risk early and acting fast.

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International support would also allow for more investment in Barbuda’s mangroves, coral reefs and beaches – all core ingredients of cultural life in Barbuda – and which act as critical barriers for storm surges, he adds. "If we do not maintain these, we do not maintain our culture and identity."

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