- Repercussions of climate change can be more catastrophic as expected
- UK, US and Germany have extended support to tackle loss due to climate disasters
- Nations will be judiciously using the money to fund disaster protection schemes
The possible repercussions of climate change on a global scale can be more catastrophic as one can expect. With a comprehensive rejig in the operating procedures of corporations and countries on a whole to bring parity in the collective battle against climate change has paced up in the last few years.
Overcoming the massive aftermath of the coronavirus pandemic may have slowed down the progress with regard to green industrial revolution, but key nations remain focused to achieve the predefined targets. The pivotal steps that can emerge for the greater good of humankind have been promoted and duly welcomed across the world.
In the recently concluded three-day G7 summit, the United Kingdom, the United States and Germany have collectively extended their support to tackle the prospective loss and damage on the account of climate change and protect lives. The Downing Street administration has always nurtured the ideas and innovations that can be effective in reducing the carbon footprint in the nation, effectively helping the world in decarbonising.
The UK along with US and Germany have instituted a new plan of action that is designed to ramp up the protection for the most vulnerable communities in the world, the sections which have been majorly impacted by the consequences of climate change.
The latest monetary support allocated by the countries is over the US$100 billion commitment from the G7 leaders to buttress the Climate Finance goal. The multi-million funding from UK and Germany are expected to support the early action of managing climate calamities, effectively expediting the processes.
In order to support the initiative, the UK has agreed to extend a generous support of GBP120 million, while Germany will be contributing a sum to the tune of EUR125 million. With the influx of additional funding from the nations, in addition to the extant commitments supporting the climate action, the authorities will be able to manage pre-arranged financing for vulnerable communities across the world, building essential systems through which the poorest people can be tapped in a quick manner.
The money set aside by the UK and Germany will be judiciously utilised to fund regional disaster protection schemes across Africa, South East Asia, the Caribbean, and Pacific.
A considerable number of livelihoods of poor and vulnerable people will be supported through the additional funding for any prospective damages due to climate disasters and the subsequent devastation.
According to the Foreign, Commonwealth & Development Office, the severity and frequency of climate change disasters has been increasing over the years as the issues surrounding climate worsens.
The extreme weather conditions and increasingly mounting sea levels have caused major havoc to the critical infrastructure, alongside raising the likelihood of droughts. The natural habitat gets severely disrupted due to such calamities. Heavy rainfall in coastal regions and some of the other vulnerable locations has been a major reason to worry as climate change can steer more than 100 million people to below the poverty line by 2030 following the failure of harvests and lack of adequate planning.