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Denmark becomes first country to pledge ‘loss and damage’ finance

(Climate Home News, 20 Sep 2022) Denmark has become the first fully-fledged country to pledge funds to developing countries specifically for “tab og skader”, which translates to “loss and damage”.

The Nordic nation committed 100 million DKK ($13m) to build resilience and help climate victims recover during a ministerial meeting on the sideline of the UN General Assembly in New York on Tuesday.

While the amount pledged is relatively small compared to mitigation and adaptation finance, the move breaks a taboo among rich countries over giving money to address the unavoidable losses and damages already caused by climate change.

Announcing the funds, Denmark’s development minister Flemming Møller Mortensen said: “I saw for myself in Bangladesh this spring that the consequences of climate change need increased focus.”

“It is grossly unfair that the world’s poorest should suffer the most from the consequences of climate change, to which they have contributed the least. With this new agreement, we are putting action behind words,” he continued.

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Climate Home News, 20 Sep 2022: Denmark becomes first country to pledge ‘loss and damage’ finance