Colombia is set to host the first-ever conference on transitioning away from fossil fuels in Santa Marta in April 2026.
This moment is particularly stark given that it comes three years after the establishment of the Fund for Responding to Loss and Damage, and after thirty years of delay in global climate negotiations. Despite this progress on paper, countries facing the brute impact of the climate crisis, like Colombia, are still waiting for the finance they were promised.
loss and damage is not theoretical. Recent intensifying floods have shown what it looks like in real time. As of 11 February 2026, unusually intense rainfall in Colombia triggered widespread flooding across the country. The scale of the crisis is immense: 31 of Colombia’s 32 departments were affected, with over 252,000 people impacted. At least 44 fatalities were reported, while more than 12,000 homes were damaged and 4,000 destroyed. Authorities issued 24 red hydrological alerts as river levels reached critical thresholds.
What makes this situation even more alarming is its timing. January and February are typically dry months in much of Colombia. Instead, the country has been plunged into a nationwide emergency. Behind these numbers lies the human cost of loss and damage. Families have been displaced from their flooded homes, and crops have been destroyed, undermining food security. There have been major livestock losses, particularly in cattle-raising regions such as Córdoba, further deepening economic strain on affected communities. Floodwaters have submerged roads, cutting off entire communities, while children and the elderly face heightened risks in already vulnerable conditions.
Beyond the visible destruction of infrastructure, there is also non-economic loss and damage—losses that cannot be easily quantified or replaced. These include the loss of lives and livelihoods, as well as disruptions to food security and stability.
At the global level, the gap between need and response remains profound. The loss and damage finance needs of developing countries alone, including Colombia, are estimated at $400 billion per year. In contrast, the Fund for Responding to Loss and Damage has received only $800+ million in pledges, of which $500+ million has been converted into actual contributions. Under the Barbados Implementation Modalities, $250 million is to be provided to developing countries, with individual countries able to access between $5 million and $20 million per proposal during this start-up phase.
As extreme weather events intensify and developed countries continue to fall short of paying their fair share, the gap between what is needed and what is available continues to widen. Looking ahead, the upcoming board meeting of the Fund presents a critical opportunity. The board should develop a resource mobilization strategy that delivers funding commensurate with the scale of real-world impacts being experienced by countries like Colombia.
However, Colombia’s floods are not an isolated event. Across the world, those least responsible for climate change are bearing its heaviest consequences.