Over the last decade, the rate has been about 4mm per year and for low-lying states like the Maldives, the situation is already alarming. Coastal flooding and storm surges will become even more common as temperatures increase.
“When a country like the Maldives, when countries in the Caribbean, when countries in the Pacific Island nations, are constantly being hit by severe storms, by extreme weather events every year, that affects our development. That constrains our fiscal space,” she said. “Loss and damage for me, for the Maldives, means our ability to continue to live a healthy life,” she said.
“It's a complex issue and we need a mosaic of solutions to be able to address this and one of them is the establishment of a fund, which is capitalised.”