When disasters strike – whether hurricanes, earthquakes, or the slow violence of the climate crisis – the burden of recovery falls overwhelmingly on us. The loss and damage fund, formally established at Cop27 in 2022 and only put into operation in 2024, has been long championed by vulnerable nations but still remains underfunded and under-prioritised. Yet for many Sids, the climate emergency is not a future threat – it is a catastrophe now. Shorelines are disappearing. Coral reefs are dying. Agriculture is failing. Lives are being lost.
It is long past time for a reckoning. The economic architecture that dominates global development discourse has failed. It has failed the poor. It has failed the planet. And it has failed the very ideals of justice and solidarity upon which the post-second world war international system was supposedly built.
We need more than tinkering at the margins. We need more than an extravagant conference in Seville can deliver. We need debt forgiveness – not as a charity, but as a historical rectification. We need concessional financing with reduced interest rates and transparent, fair assessments of investment risk. We need climate reparations through robust, predictable and progressive loss and damage funds. In times of force majeure, we need aid that empowers, not aid that entraps.
Most of all, we need the freedom to define development on our own terms – rooted in equity, sustainability and sovereignty.
Until these structural injustices are addressed, the global south may remain poor not because of a lack of potential or ambition, but because the rules of the game were never written for our success.