There is no country in the world that is not experiencing first-hand the drastic effects of climate change. Greenhouse gas emissions continue to rise, and are now more than 50 percent higher than their 1990 level. Further, global warming is causing long-lasting changes to our climate system, which threatens irreversible consequences if we do not take action now.
The annual average losses from tsunamis, tropical cyclones and flooding amount to hundreds of billions of dollars, requiring an investment of US$6 billion annually in disaster risk management alone. This fund supports projects that address the needs of communities in developing countries and helps mitigate climate-related disasters.
Helping more vulnerable regions, such as land locked countries and island states, adapt to climate change must go hand in hand with efforts to integrate disaster risk measures into national strategies. By working with local, community-led projects in affected communities, this fund supports those individuals and communities most affected by climate change, and those best positioned to help those in need.
It is still possible, with the political will and a wide array of technological measures, to limit the increase in global mean temperature to two degrees Celsius above pre-industrial levels. This requires urgent collective action.