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Global leaders from various countries are set to meet in New York on Sep 23rd for the UN General Assembly’s High-level event on climate action.
Rescue workers recover bodies from a flood-buried house in Betrawati, Nuwakot, Nepal (Photo: Reuters)
The catastrophic Nepal floods have made loss and damage funding an urgent political issue ahead of the United Nations General Assembly (UNGA) in New York, and the subsequent UN Climate Summit COP31 in Türkiye, with developing countries likely to mount pressure on turning climate finance promises into actual funds.
The 81st session of the UN General Assembly (UNGA) is set to convene in New York from 18th to 28th September, with the High-Level event on climate action on September 23rd. The Climate Summit convened by UN Secretary-General Antonio Guterres will bring together leaders from various nations to discuss climate action.
“UNGA will be a key arena for the Loss and Damage issue, particularly if the Secretary-General takes a strong moral position and urges developed countries to honor their climate finance commitments. Much will depend on the political clout brought to bear on the issue,” said Professor Ajay Mathur, former India Climate Negotiator and former DG, International Solar Alliance.
Reeling under the aftermath of one of the worst disasters in recent years, Nepal government has sought UN-backed loss and damage funding for $20 million, while adding that it may not be enough as the recovery and rehabilitation costs will be in billions. Nepal Foreign Minister Shisir Khanal had also called on the world to embark on a “global effort” to tackle climate change.
Speaking at a media briefing here on Wednesday, Professor Mathur said Nepal’s call for global compensation for climate-related damage speaks to the experience of millions across the Global South. “Countries are already paying the cost of climate inaction through national budgets and households savings to cope with losses. This disaster has clearly rattled negotiators across all developing countries, and they will most certainly call for resources for the loss and damage fund. We will see a far greater action on loss and damage fund what we have seen in the past,” he added.
Climate finance has remained elusive for the vulnerable countries, even as global warming intensifies disasters. The issue will also gain prominence at this year’s UN’s 31st session of the Conference of Parties (COP31) in Antalya, Turkiye in November where vulnerable countries will mount pressure on the wealthy nations to honor their commitments.
ENERGY CRISIS EXPOSE FOSSIL FUEL DEPENDENCE
According to climate policy experts, the recent destruction in Nepal has shown in real time that climate crisis and energy crisis due to the West Asia war, are not two separate challenges, but they are increasingly compounding each other. “The energy crisis has exposed the dangers of our dependence on fossil fuels. We are already witnessing demonstrations across countries over surging prices of fossil fuels, at a time when climate impacts are also increasing manifold,” remarked Laurence Tubiana, CEO of the European Climate Foundation.
Experts say the global energy crisis, and surging fuel prices amid the West Asia war, and closure Strait of Hormuz are further set to put focus on transitioning away from fossil fuels. “This is the biggest energy crisis in history. It shows what reliance on fossil fuels actually mean. While the role of hosts Turkey and Australia will be important, we will have to see what other countries bring to the table to intensify climate action,” at Jennifer Morgan, Former Climate Envoy, Germany at the briefing.
GLOBAL ELECTRIFICATION A KEY AGENDA
The incoming COP31 Presidency of Turkiye has made electrification one of their top agendas at the upcoming summit, aiming to accelerate the clean energy transition by raising the global electrification target from current 20% to 35% by 2035.
“The aim is to make it an implementation COP and electrification is a top priority, followed by progress on moving away from fossil fuels, as well as delivery of climate finance. The COP31 Presidency intends to become the bridge between developed and developing countries,” said Umit Sahin, Coordinator of Climate Change Studies at Istanbul Policy.
Natalie Jones, Senior Policy Advisor, International Institute for Sustainable Development (IISD) concurred, stating that there has never been a stronger case for accelerating action on transitioning away from fossil fuels. “This price volatility on energy supplies is not going anytime soon. There is no resolution in sight for opening of Strait of Hormuz. What we need now is for countries to send concrete signals on transitioning away from fossil fuels by ending new oil and gas licenses, and setting real targets and roadmaps for phasing out fossil fuels,” she added.
The 2026 UN Climate Change Conference (COP31) is set to convene from 9 to 20th November in Antalya, Turkiye.
Quick Answers
Ask News18Nepal has requested $20 million in UN-backed loss and damage funding. However, the government notes this will not be enough, as the country’s total recovery and rehabilitation costs are estimated to be in the billions, with preliminary property and infrastructure losses projected at around 400 billion Nepali Rupees and rebuilding costs estimated at $5 billion.
Ask News18About the Author
Srishti Choudhary, Associate Editor at CNN-News18 specializes in science, environment, and climate change reporting. With over a decade of extensive field experience, she has brought incisive ground r…Read More
September 16, 2026, 10:54 PM IST
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