Moneycontrol

Climate philanthropy: Shifting mindset to shift outcomes

Currently, climate investment is predominantly focused on mitigation with inadequate attention to adaptation and resilience building.

December 21, 2022 / 18:44 IST
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In February 2022, a glacier burst, killing nearly 80 in Chamoli, Uttarakhand, while many went missing. India has seen financial losses to the tune of millions in the year 2022 owing to disasters such as heatwaves, cyclones, floods, and landslides, among others. (Image: AP)

Climate change is among the biggest and most complex problems of our time. The issue is particularly severe for India owing to its long coastline, high dependency on agriculture, and high population density, among other factors.

India has seen financial losses to the tune of millions in the year 2022 owing to disasters such as heatwaves, cyclones, floods, and landslides, among others. According to a report by the Centre for Science and Environment, India experienced a disaster per day during the first nine months of 2022 which resulted in the loss of 2,755 lives, killed approximately 70,000 livestock, ruined over 416,667 houses and affected close to 1.8 million hectares of crop area. The study also noted that the loss and damage estimation is likely to be understated as data for each occurrence is not collated, nor are the damages to public property or crop loss estimated.

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The G20 Presidency for the year 2023 coming to India not only puts a spotlight on the country but is also an opportunity for driving more attention to climate change effects in India. Philanthropy can leverage this opportunity to have a seat at the table, participate in some discussions and enable more intentional climate action. We need more hands on deck and greater sincerity from the philanthropic community to come together and explore pathways of collaborative action towards resilience, with the most vulnerable and underserved communities at the center of our efforts.

Also read: Climate philanthropy: Making a case for inclusivity