Bapon (SHM) Fakhruddin, PhD

The Green Climate Fund‘s projects demonstrated valuable experience in tackling the challenges of loss and damage caused by climate change. As the new loss and damage fund’s operationalization is in process, these case studies funded by GCF have significantly impacted through thorough risk management strategies. For example:
#Senegal: Improved flood management has saved the country $8 million each year.
#Pacific_Islands: Early warning systems have reduced economic damages by 30%.
#Antigua and Barbuda: Interventions in the building sector could potentially prevent losses totaling $3.34 billion.

These successes come from taking proactive measures, using nature-based solutions, and creating innovative financing methods that attract additional funds through grants, loans, and government support.

As we gather again for #COP29 to support our future generation, we have a unique chance to harmonize the GCF’s efforts with the new loss and damage fund. While the GCF is dedicated to preventing issues and building long-term resilience, the new fund can fill essential gaps in response and immediate recovery efforts. By improving how we coordinate, simplifying access to funds, and leveraging local knowledge, we can develop a more comprehensive support system for countries most vulnerable to climate impacts.

The key to success is ensuring that these funding mechanisms work together seamlessly. By combining the GCF’s effective risk reduction strategies with the new fund’s ability to provide rapid responses, we can better support communities facing the urgent effects of climate change.

Together, these efforts will create a more robust, more resilient framework to help vulnerable nations navigate and overcome the challenges of a changing climate.

Case studies of projects funded by the Green Climate Fund about the strategic workstreams of the Warsaw International Mechanism (#WIM) for loss and damage can be found here https://lnkd.in/gRrATKQf

Collection of indicative actions along comprehensive risk management in the context of loss and damage (diagram)

#ClimateAction #GreenClimateFund #LossAndDamage #ResilientCommunities #ClimateResilience #ClimateFinance #EarlyWarningSystems #InnovativeFinancing #ClimateSupport #EW4ALL CODATA United Nations Office for Disaster Risk Reduction (UNDRR)