Standard Bank is investing R1 million in seed funding for the University of South Africa (Unisa) to support research on Climate Change-Induced Loss and Damage (CILD). This initiative will take place within Unisa’s Institute for Sustainability and Corporate Citizenship, in collaboration with the Department of Forestry, Fisheries and the Environment.
The goal is to create solutions that address the escalating impacts of climate change in Southern Africa. By generating policy-relevant data and building local capacity, the program aims to empower communities facing these challenges.
A New Focus on Loss and Damage
According to Pearl Phoolo, head of Standard Bank’s Corporate Social Investment, addressing loss and damage isn’t just about emergency relief. It involves extensive research and innovative policies tailored to African realities. This program will focus on both economic and non-economic losses. It will help develop indicators to guide compensation plans and encourage collaboration among local communities, government bodies, and international organizations.
Recent data underscores the urgency of this initiative. The South African Weather Service reported that 2024 was the hottest year since 1951. Temperatures were nearly 0.9°C above the average between 1991 and 2020. November 2023 recorded extreme temperatures, reaching 46.7°C at Augrabies Falls, which has severe consequences for agriculture and livestock.
Phoolo explained, “When climate extremes hit, timely data is crucial. Grounded research helps decision-makers act swiftly and effectively, targeting support where it’s most needed.”
Understanding the Local Context
Professor Godwell Nhamo, who leads Unisa’s ISCC, emphasizes that loss and damage from climate change are not future issues—they are realities for many communities today. The partnership aims to generate localized evidence that can inform effective policies and address community needs directly.
The program will analyze both economic impacts, like damage to agriculture, and non-economic effects, such as the loss of cultural heritage or mental health challenges. This comprehensive approach will contribute to evidence-based decisions at all levels of governance.
Empowering Local Knowledge
As the initiative progresses, it will develop specific indicators to measure impact and guide resource allocation effectively. This will not only aid public agencies but also nurture a new generation of South African researchers who can connect climate science with social policies.
Research indicates that community-level engagement can significantly enhance climate resilience. By involving local stakeholders in the decision-making process, the project aims to create tailored solutions that resonate with the realities these communities face today.
The work being done through Standard Bank and Unisa reflects a growing recognition of the interconnectedness of climate change, community well-being, and sustainable development. As the climate crisis intensifies, such collaborations will be crucial for building resilient societies that can thrive despite environmental challenges. For more insights on climate action, visit the United Nations Framework Convention on Climate Change.
