Dr Mpango insists on the Loss and Damage Fund to address impacts of climate change in Africa

NEW YORK: TANZANIA has insisted on the timely provision of the Loss and Damage Fund as a key financial mechanism to assist developing countries to tackle the adverse effects of climate change.

It was revealed today in New York, by the Tanzanian Vice President, Dr Philip Mpango, during his talks with the Executive Director of the Loss and Damage Fund, Ibrahima Diong,  on the sidelines of the 80th Session of the United Nations General Assembly in New York, USA.

The talks focused on various issues related to climate change and its impacts on African countries, including Tanzania.

Also, fundraising for the fund and thus supporting various countries, including Tanzania, that continue to take action to address the impacts caused by climate change despite financial constraints.

The Loss and Damage Fund is a financial mechanism created to provide financial assistance to developing countries that are facing the adverse effects of climate change.

These impacts include natural disasters such as floods, droughts, and sea level rise.

The fund’s objectives include helping the most vulnerable countries, such as small island developing states and low-income countries, which are particularly affected by climate change despite their small contribution to greenhouse gas emissions. It also compensates for unavoidable losses, i.e. the impacts of climate change that cannot be avoided through adaptation or mitigation measures.

Other objectives include rebuilding damaged infrastructure, relocating vulnerable communities, and restoring agricultural land or coastal areas.

The fund was formally launched at the 27th United Nations Conference on Climate Change (COP27) in Egypt in 2022, after decades of negotiations. At the COP28 meeting in Dubai, member states agreed to begin implementing the fund.