Behind Nepal's compensation demand for devastating flood, Pg12

Key Highlights:

• Nepal experienced a catastrophic flash flood, resulting in over 1,000 deaths and thousands missing.
• The disaster is attributed to climate change and heavy infrastructure development in the Himalayas.
• Nepal's Foreign Minister, Shishir Khanal, announced a shift in diplomatic position to claim 'compensation' for natural disasters instead of aid.
• Nepal has formally written to the UN Loss and Damage Fund seeking support for economic hits from extreme events.
• The UN Loss and Damage Fund, established in 2022, has received pledges of $822 million, with $350 million allotted for disbursement.

Nepal Aid.jpg

Detailed Insights:

• The Himalayas are often referred to as the "third pole" due to their vast ice and water reserves, which are increasingly vulnerable to melting glaciers.
• Major contributors to atmospheric CO2 accumulation include the U.S. (25%), Europe (20%), and China (15%), while India's contribution is under 4%.
• Nepal argues that its negligible greenhouse gas emissions mean it is disproportionately suffering from a global crisis it did not create.
• The country's new diplomatic stance emphasizes legal and moral liability from major emitters rather than charity.
• Initially, India was named alongside China and the U.S. as having a historical responsibility, but Nepal's Prime Minister later thanked India and China for assistance.
• The UN Loss and Damage Fund aims to help vulnerable countries respond to economic impacts from climate-induced extreme events.
• Contributions to the fund are voluntary, with the UAE providing $100 million and much of the rest coming from European nations.

Key Concepts Involved:

• Loss and Damage Fund: A financial mechanism established under the United Nations Framework Convention on Climate Change to assist developing countries in coping with unavoidable impacts of climate change.
• Greenhouse Gas Emissions: Gases in the Earth's atmosphere that trap heat, leading to global warming and climate change.
• Climate Change: Long-term shifts in temperatures and weather patterns, primarily caused by human activities, especially the burning of fossil fuels.