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

Abstract

• 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.