Least Developed Countries (LDCs) are categorised as the most vulnerable group of countries to the impacts of climate change. Given their low capacity, limited economic development and inability to withstand extreme shocks, they are characterized as regions in need of extra consideration and support.
LDCs are already suffering the impacts of climate change but will need western countries to deliver on their promises of climate funding. The developed countries have time and again promised to deliver climate funding to the LDCs but this has not always been materialised in practice.
LDCs need timely delivery of funds. First, being the most vulnerable and with the least capacity countries, they rely on the priority status they are given to support their adaptation actions and move towards a resilient future. Secondly, as recognised under the Convention, the portion of US$100 billion should help fill in the LDCF, which is a dedicated fund to the LDCs. Finally, the LDCs believe that with the promised climate finance, they can properly fight climate change and take the path towards sustainable development.
The delivery of promised climate finance can save lives and livelihoods of many communities, attain food security and build a resilient future. These are the very reasons why climate finance has been such a priority issue for the LDC countries in the climate negotiations – let’s hope the US$100 billion donors do not forget this.
(The article, written by Director of Prakriti Resources Centre, Mr. Raju Pandit Chhetri, was published in "China Dialogue". See the full article here: https://www.chinadialogue.net/blog/8429-Why-does-the-US-1-billion-matter-to-the-LDCs-/en )