COP31: Himalayan Climate Risks, Adaptation Finance and $21.6 Million Nepal Allocation

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The glacial collapse and flash floods in the Himalayas this year should push all countries to act "faster and fairer" on climate change, United Nations Framework Convention on Climate Change (UNFCCC) Executive Secretary Simon Stiell said on the sidelines of the UN Climate Change Conference (COP31) in Antalya, Turkiye. Responding to a question on the Himalayas, Stiell told PTI that transitioning away from fossil fuels in a just, orderly and equitable manner, along with tripling adaptation finance, are key to resolving the crisis.

"The glacial collapse and flash floods in the Himalayas this year are a devastating reminder of how fragile these mountain environments can be, particularly the Hindu Kush Himalayas. For years, scientists and local communities have been warning that the Himalayas are at huge risk from climate change. What is happening in the Himalayas should push us to act faster and fairer on climate change," Stiell said. He recalled that at COP28 in the UAE, all countries agreed to transition away from fossil fuels in energy systems, and that the agreement must be delivered in full. He also stressed the need to deliver on the tripling of adaptation finance agreed at COP30 in Brazil last year, and to boost access to finance for vulnerable developing nations that did the least to cause the crisis.

Stiell noted that the Fund for Responding to Loss and Damage (FRLD) has moved from its establishment phase into delivery, with an initial provisional allocation of $21.6 million for Nepal. However, he added that FRLD alone cannot meet the scale of loss and damage. A standalone agenda item on tripling adaptation finance was not formally adopted at COP31's opening plenary on November 9, as consensus could not be reached. Stiell said the crisis in the Himalayas shows why the COP process is critical, and that without it, humanity would be headed for well over 4 degrees Celsius of heating, which would decimate every population and economy.

What is the Fund for Responding to Loss and Damage?

The Fund for Responding to Loss and Damage (FRLD) was established at COP27 in Sharm El-Sheikh, Egypt, in 2022, following decades of demand from developing nations for financial support to cope with the unavoidable impacts of climate change. Its operationalisation was agreed upon at COP28 in Dubai in 2023, where initial pledges were made, and the World Bank was chosen as its interim host and trustee for a four-year period. The fund is designed to provide grants and concessional finance to developing countries that are particularly vulnerable to the adverse effects of climate change, covering both economic and non-economic losses from extreme weather events and slow-onset events. The push for such a mechanism gained momentum after the Warsaw International Mechanism for Loss and Damage was created at COP19 in 2013, though that body lacked a dedicated funding stream. The FRLD board includes members from both developed and developing nations, and its governance structure was finalised through a series of transitional committee meetings between COP27 and COP28.

Why was the adaptation finance agenda item not adopted?

A standalone agenda item on tripling adaptation finance was not formally adopted on the official conference agenda of COP31 because consensus could not be reached during the opening plenary on November 9, 2026. The tripling of adaptation finance was agreed at COP30 in Brazil last year, but consensus on its formal adoption as a separate agenda item at COP31 could not be reached. Stiell said that finance is key to turning climate plans into real-world results, and that Nepal's reported reconstruction needs underline the urgency to mobilise finance at a much greater scale across climate, humanitarian, development and disaster-risk financing.

What has the COP process achieved and what remains?

Stiell said that UN-convened climate cooperation, together with national efforts, has brought projected global heating down from well over 4 degrees Celsius to 2.6 degrees, if countries meet their climate pledges. He said every recent COP has taken significant steps forward, and COP31 must do so too, with a strong focus on converting pledges and targets into outcomes. He cited India's Green Energy Corridor Phase-III, approved by the Union Cabinet chaired by Prime Minister Narendra Modi, as a major step forward that will strengthen India's clean energy grid and support the target of 900 GW of non-fossil capacity by 2035. Stiell said that up to 75% of energy demand can be electrified with solutions that exist today, and that what is needed is to roll them out much faster.