Denmark pledges to be 1st country to offer funding for ‘loss and damage’ due to climate change
September 21, 2022, 9:30 am

Denmark pledges to be 1st country to offer funding for ‘loss and damage’ due to climate change

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Denmark pledged Tuesday (Sep 20) at the UN General Assembly in New York to be the first country to provide funding to developing nations that have suffered “tab og skader”, which translates to ‘loss and damage’.

During a ministerial meeting on the sidelines of the General Assembly in New York City, the Nordic nation committed 100m DKK ($13m) to build resilience and help climate victims recover.

While the amount pledged is relatively small compared to mitigation and adaptation finance, the move breaks a taboo among rich countries over giving money to address the unavoidable losses and damages already caused by climate change.

Danish Development Minister Flemming Moller Mortensen said it is "grossly unfair that the world’s poorest should suffer the most from the consequences of climate change," to which they have contributed "the least."

Mortensen said the funds would go to Africa's Sahel region and other vulnerable areas affected by the climate crisis.

An aerial view of an area in Recife, Pernambuco State, Brazil, which was hit by floods caused by heavy rains CLAUBER CAETANO BRAZILIAN PRESIDENCY/AFP

"With this new agreement, we are putting action behind words,” he added.

Last year at the UN Climate Change Conference in Glasgow (COP26), the G77, a bloc of more than 130 developing countries, demanded financial support for climate victims, but the initiative was blocked by the US, the European Union, and other rich countries.

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Addressing the "loss and damage" in vulnerable countries was already agreed on under the Paris Agreement, but due to the fear of being sued by those countries affected by climate disasters, it was then rejected by the rich nations.

Previously, only Scotland and the Belgian region of Wallonia have pledged funding for loss and damage. Neither is a member of the United Nations.

UN Secretary-General Antonio Guterres stressed that the rich nations should support countries suffering losses and damage caused by the climate crisis by imposing taxes on windfall profits of fossil fuel companies.

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BENEFIT, the Kingdom’s innovator and leading company in Fintech and electronic financial transactions service, has sponsored the BuildHer CityHack 2025 Hackathon, a two-day event spearheaded by the College of Engineering and Technology at the Royal University for Women (RUW).
Aimed at secondary school students, the event brought together a distinguished group of academic professionals and technology experts to mentor and inspire young participants.
More than 100 high school students from across the Kingdom of Bahrain took part in the hackathon, which featured an intensive programme of training workshops and hands-on sessions. These activities were tailored to enhance participants’ critical thinking, collaborative problem-solving, and team-building capabilities, while also encouraging the development of practical and sustainable solutions to contemporary challenges using modern technological tools.
BENEFIT’s Chief Executive Mr. Abdulwahed AlJanahi, commented: “Our support for this educational hackathon reflects our long-term strategic vision to nurture the talents of emerging national youth and empower the next generation of accomplished female leaders in technology. By fostering creativity and innovation, we aim to contribute meaningfully to Bahrain’s comprehensive development goals and align with the aspirations outlined in the Kingdom’s Vision 2030—an ambition in which BENEFIT plays a central role.”
Professor Riyadh Yousif Hamzah, President of the Royal University for Women, commented: “This initiative reflects our commitment to advancing women in STEM fields. We're cultivating a generation of creative, solution-driven female leaders who will drive national development. Our partnership with BENEFIT exemplifies the powerful synergy between academia and private sector in supporting educational innovation.”
Hanan Abdulla Hasan, Senior Manager, PR & Communication at BENEFIT, said: “We are honoured to collaborate with RUW in supporting this remarkable technology-focused event. It highlights our commitment to social responsibility, and our ongoing efforts to enhance the digital and innovation capabilities of young Bahraini women and foster their ability to harness technological tools in the service of a smarter, more sustainable future.”
For his part, Dr. Humam ElAgha, Acting Dean of the College of Engineering and Technology at the University, said: “BuildHer CityHack 2025 embodies our hands-on approach to education. By tackling real-world problems through creative thinking and sustainable solutions, we're preparing women to thrive in the knowledge economy – a cornerstone of the University's vision.”