Side Event at SIDS4 - From Vulnerability to Resilience
Addressing Loss and Damage in Small Island Developing States
Event Summary
This event focuses on deepening the understanding and advancing discussions around financing to address Loss and Damage (L&D). With Small Island Developing States (SIDS) facing existential threats from sea-level rise, concentration of populations and assets in vulnerable coastal areas, and heightened climate hazards, the need for effective financial solutions has never been more urgent. The recent establishment of the Loss and Damage fund signifies a shift from diplomatic dialogue to political reality, demanding new funding arrangements that consider SIDS' unique vulnerabilities and the inevitability of climate impacts under current temperature pathways.
Event Objective
This event seeks to deepen the understanding of financial challenges faced by SIDS and incorporate these insights into strategies for addressing loss and damage. It aims to explore sustainable and equitable solutions that reflect the immediate and long-term needs of SIDS, including through generating support for the Fund. Through this dialogue, we will discuss how development partners can more effectively integrate a SIDS-focused perspective in their policies and financial mechanisms, ensuring that our approach to the climate crisis is both just and equitable. We will also aim to chart a course for practical solutions at 2024 Annual Meetings of the IMF and World Bank Group and COP29.
Documents
Upcoming Meetings
