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Millions Displaced by Climate: Who Pays for Damage?
23 Jan
Summary
- Over 45 million weather-related displacements occurred globally in 2024.
- A new fund aims to aid developing countries impacted by climate change.
- Estimates suggest over 200 million climate displacements by 2050.
Communities worldwide face forceful displacement due to climate-exacerbated events like wildfires and droughts. In 2024, over 45 million weather-related disaster displacements were recorded globally, the highest since 2008. This trend is projected to worsen, with the World Bank estimating over 200 million displacements by 2050.
Recognizing this crisis, the UN established the Fund for Responding to Loss and Damage (FRLD) at COP27 in 2022. This fund targets vulnerable developing nations, offering financial aid for irreversible climate impacts. Despite pledges totaling $817 million, this is significantly less than the estimated $580 billion needed by 2030.
Quantifying the economic and non-economic costs of climate mobility, including displacement, remains a significant challenge for the FRLD. Tools are being developed to help governments assess these impacts comprehensively, enabling better access to crucial funding. Successfully addressing climate-related displacement is vital for affected communities' recovery and dignity.
