Nepal floods should mobilise climate action - UN

The recent Nepal flood disaster and Europe's wildfires should draw attention to the financial implications of climate change, according to the head of the UN's largest climate fund, Mafalda Duarte. She expressed concern that climate change is losing priority among global issues, often overshadowed by conflicts and economic crises.

Despite evidence that financial resources can effectively respond to emergencies, Duarte noted that the same level of response isn't being applied to climate issues, suggesting a perceived inability to act until it's too late.

The Green Climate Fund, established by the UN to support developing countries in addressing climate change impacts, has invested $19 billion (€16.4 billion) across 134 nations. However, the US withdrew from the fund in January, and Britain cut its contribution by half in May. Duarte urged the international community to take heed of recent disasters, including the Nepal floods and the widespread wildfires in Europe, which she said are occurring globally, not just in developing countries.

She highlighted the need for more urgent action, pointing to the deadly heatwaves and fires in Europe as examples.

Duarte was in Palau for a summit of Pacific island leaders, who view climate change as their most significant security threat. She criticized a UN report that found the world is on track to exceed the 1.5C warming limit agreed upon in Paris, which would exacerbate climate impacts. The Green Climate Fund has increased its focus on adaptation in the Pacific, doubling its investment in the region over three years to $1 billion.

Despite these efforts, Duarte acknowledged frustration among small countries trying to access the fund, noting that the process has become faster, averaging nine months.

Tina Stege, the climate envoy for the Marshall Islands and the Pacific's envoy for COP31, emphasized the urgent need for tangible progress in providing climate finance to small island states. She criticized the separate UN loss and damage fund, established four years ago, describing it as an "empty bucket" that hasn't effectively met the needs of developing nations facing climate disasters.