Loss and Damage Fund: YouthNet pushes for grant-based support

YouthNet Global, a grassroots youth-led organisation advocating for climate justice, urged for grant-based support to be directed to affected communities as the second board meeting for the Loss and Damage Fund (LDF) opens today. 

YouthNet Global has outlined several key priorities for the board to address during this crucial session. 

Foremost among these is the need for the fund to operate as a new, additional, and grant-based financial resource. 

YouthNet advocates for grants rather than loans to avoid exacerbating the debt burdens of vulnerable communities and stresses the importance of simplified access through clear indicators and frameworks to ensure that the most vulnerable nations receive timely and effective support, reads a press release. 

Running from 9-12 July, this gathering brings together global leaders, climate advocates, and civil society representatives to tackle the pressing issues of climate-induced loss and damage.

The board selected the Philippines to host the Loss and Damage Fund. This decision came after a competitive selection process that considered several countries, including Antigua and Barbuda, Armenia, the Bahamas, Barbados, Eswatini, Kenya, and Togo. 

The World Bank will oversee the fund's interim operations through an independent secretariat for the next four years, with $700 million pledged by wealthy nations to support initial efforts.

The meeting marks a critical moment in the ongoing global effort to combat climate change and address its severe impacts on vulnerable communities. It follows the inaugural meeting held in Abu Dhabi, which laid the groundwork for the establishment of the LDF. 

This session is expected to address essential questions related to the fund's governance structures, access modalities, and the role of civil society in its processes.

Amidst these proceedings, YouthNet Global has made a passionate appeal for bold action to ensure the fund's effectiveness. 

Sohanur Rahman, Executive Coordinator of YouthNet Global, highlighted the importance of this meeting in light of recent events, stating, "We stand at a critical juncture for climate justice. While this board meeting is happening, severe flooding in Bangladesh has swept away homes, shut schools, and displaced tens of thousands of people. The forecast for more heavy rain over the next few days threatens to worsen the situation. This meeting is an opportunity for the board to take decisive steps towards the effective and equitable implementation of the Loss and Damage Fund."

Another major focus for YouthNet Global is the enhancement of civil society participation. The organization calls on the board to build on the decision from the first meeting to include civil society observers by ensuring meaningful engagement of youth, women, Indigenous peoples, and marginalized communities throughout all stages of the fund's processes.

Additionally, YouthNet advocates for gender-responsive financing mechanisms. They emphasise the creation of financial instruments that address the unique vulnerabilities of women and gender-diverse individuals, support projects that enhance women's resilience to climate impacts, and encourage gender-responsive outcomes involving men and boys.

Equitable access to the fund and the rapid disbursement of resources in the aftermath of climate disasters are also top priorities for YouthNet Global. They recommend streamlined processes for grassroots organisations, especially those led by women, youth, and Indigenous communities, and advocate for the rapid release of funds within 24-48 hours of a disaster to provide immediate support to affected communities.

Capacity building is another crucial area of focus. YouthNet Global highlights the need for investment in local communities, particularly women and youth, to ensure sustainable and long-term outcomes in managing climate adaptation and mitigation projects.

Transparency and accountability are also at the forefront of YouthNet's recommendations. The organisation calls for clear mechanisms for fund allocation and use, including access to information, grievance redressal processes, and enhanced engagement with civil society organisations to foster transparency and community involvement.

Finally, YouthNet Global seeks recognition of non-economic losses associated with climate change, such as impacts on cultural heritage, mental health, and Indigenous practices. They advocate for the fund to support sustainable infrastructure, ecosystem restoration, and community-based adaptation strategies to build long-term resilience.

"As the board meeting unfolds, the decisions made will be pivotal in shaping the Loss and Damage Fund's future impact. We are resolute in advocating for these essential priorities to ensure the fund becomes a true lifeline for the most vulnerable communities around the world including Bangladesh facing the climate crisis," concluded Sohanur Rahman.