Linking solidarity funds and philanthropic giving to finance loss and damage from climate change related slow-onset events

• Published in: Current opinion in environmental sustainability 2021-06, Vol.50, p.169-174
• Main Author: Pill, Melanie
• Format: Article
• Language: English
• ISSN: 1877-3435; 1877-3443
• DOI: 10.1016/j.cosust.2021.04.003

•Philanthropic giving can play a major role in addressing slow-onset events and associated non-economic losses.•Philanthropic funds could be streamlined to fund the impacts from climate change-induced loss and damage (L&D).•An engagement strategy with philanthropic organisations can assist in making use of these funds.•The architecture of the European Union Solidarity Fund is potentially suitable to administer and distribute finance for L&D.•A significant research gap in regards to financial figures on climate change spending by philanthropic organisations exists. Slow-onset events (SOE) such as sea level rise, desertification, salinisation, ocean acidification, loss of biodiversity and forests or glacial retreat fall under loss and damage (L&D) from climate change impacts under the United Nations Framework Convention on Climate Change and are increasingly threatening the environment and people’s livelihoods. Irreversible SOE are closely linked to non-economic losses (NEL) such as health, human mobility or loss of ecosystem services. Neither L&D from SOE nor NELs have a dedicated funding stream. By reviewing literature on philanthropy and solidarity funds, this article aims to identify a continuous source of finance and distribution mechanism for addressing L&D impacts from SOE and NELs. This paper concludes that there is a convincing case to approach philanthropic organisations to systematically mobilise funds into a solidarity type arrangement. With adjustments, the architecture of the European Union Solidarity Fund is a promising example to administer and distribute finances for L&D from SOE and NELs.