Bapon Fakhruddin, CODATA TG-FAIR DRR and Shaily Gandhi, IT:U Interdisciplinary Transformation University Austria

On March 3, 2026, the FAIR Data for Disaster Risk Research working group of CODATA convened a webinar titled “Glacier Adaptation and Financing,” bringing together leading experts to address the accelerating retreat of glaciers, the implications for water security and disaster risk, and the persistent gap in climate finance. Moderated by Dr. Shaily Gandhi, the panel featured Dr. Anil Mishra (UNESCO), Dr. Miriam Jackson (Norwegian Water Resources and Energy Directorate), Dr. Dhiraj Pradhananga (Tribhuvan University, Nepal), and Dr. Bapon Fakhruddin (Green Climate Fund). The discussion emphasized the urgency of translating scientific knowledge into institutional action and financial investment.

Follow these links to consult the slides presented and the the webinar recording.

Accelerating glacier loss and its implications

Recent assessments underscore the rapid pace of glacier melt. The Glacier Mass Balance Intercomparison Exercise (GlaMBIE) team (2025) reported that between 2000 and 2023, glaciers globally lost an average of 273 ± 16 gigatonnes of ice annually, with a 36% acceleration in the latter half of the period. This cumulative loss of 6,542 gigatonnes contributed approximately 18 millimeters to global sea-level rise. Projections by Rounce et al. (2023) suggest that even under a 1.5°C warming scenario, global glacier mass could decline by 26 ± 6% by 2100, increasing to 41 ± 11% under a 4°C scenario.

In the Hindu Kush Himalaya (HKH) region, these global trends are mirrored by local observations. Dr. Pradhananga highlighted that snowpacks are thinning, springs are drying, and rainfall is increasingly replacing snowfall. These changes threaten the freshwater supply for billions of people who depend on glacier-fed river systems.

Glacial lake outburst floods: a growing hazard

Glacier retreat contributes to the formation of unstable glacial lakes, increasing the risk of glacial lake outburst floods (GLOFs). A study published in Nature Communications estimated that 15 million people globally live under threat from GLOFs, with more than half residing in India, Pakistan, Peru, and China (Carrivick et al., 2023). The 2023 South Lhonak Lake disaster in Sikkim, India, exemplified this risk. A cloudburst triggered a GLOF that destroyed infrastructure and resulted in at least 14 fatalities and over 100 missing persons (NDTV, 2023). Although the lake had been previously identified as high-risk (Sattar et al., 2021), early warning systems were not fully operational at the time of the event. This incident illustrates the critical need for governance systems that can act on scientific data.

The climate finance gap

Despite the clear risks, mountain regions receive only 3% of global climate finance, and less than 1% of adaptation funding is allocated to glacier protection (Fakhruddin, 2025). The United Nations Environment Programme (UNEP, 2023) estimated the global adaptation finance gap at $194–366 billion annually. The lack of private capital in glacier adaptation is attributed to the absence of direct financial returns, despite the essential role glaciers play in water security, energy production, and food systems.

Financing models and the role of the Green Climate Fund

The Green Climate Fund (GCF) has pioneered innovative financing models to address these challenges. Its approach includes de-risking mechanisms, capital mobilization, bankable project structures, and tailored financing models such as pay-for-success and impact investing strategies (Fakhruddin, 2025). The diagram below illustrates the GCF’s financing framework.

 

Opportunities for Crowd-Sourced and Innovative Financing

Crowd-sourced financing presents a complementary avenue for glacier adaptation. Fakhruddin (2025) proposed models where private capital is tied to successful glacier restoration outcomes. These could include glacier bonds, community investment funds, and climate crowdfunding platforms. While such mechanisms cannot replace large-scale public and multilateral funding, they can raise awareness and engage broader constituencies.

Recommendations for the Decade of Cryospheric Sciences

The panel concluded with a set of actionable recommendations:

• Expand interoperable glacier and hydrological monitoring networks, including community-based systems.
• Integrate cryosphere data into national water security and disaster risk management frameworks.
• Establish legally binding early warning systems for GLOFs and related hazards.
• Increase adaptation finance for glacier and mountain regions through dedicated funding windows and blended finance.
• Promote public-private partnerships and innovative financial instruments such as resilience bonds and glacier adaptation funds.
• Build local capacity through training, community engagement, and integration of traditional knowledge.
• Use the Decade of Cryospheric Sciences (2025–2034) to set measurable targets and track progress.

Conclusion

The science of glacier change is unequivocal. The challenge lies in aligning institutional action and financial flows with this knowledge. The Decade of Cryospheric Sciences offers a critical window to bridge this gap. Every degree of warming and every dollar invested will shape the future of the world’s glaciers and the communities that depend on them.

 

References

Carrivick, J. L., Tweed, F. S., et al. (2023). Fifteen million people at risk of glacial lake outburst floods. Nature Communications, 14, 487. https://doi.org/10.1038/s41467-023-36033-x

Fakhruddin, B. (2025, April 18). Saving the cryosphere requires innovative financing. Green Climate Fund. https://www.greenclimate.fund/insights/saving-cryosphere-requires-innovative-financing

GlaMBIE Team. (2025). Community estimate of global glacier mass changes from 2000 to 2023. Nature, 639, 382–388. https://doi.org/10.1038/s41586-024-08545-z

NDTV. (2023, October 5). 14 dead, 102 missing in Sikkim flash flood. https://www.ndtv.com/india-news/10-dead-82-missing-14-bridges-collapsed-in-sikkim-flash-flood-4450410

Rounce, D. R., Hock, R., Maussion, F., Hugonnet, R., Kochtitzky, W., Huss, M., Berthier, E., Brinkerhoff, D., Compagno, L., Copland, L., Farinotti, D., Menounos, B., & McNabb, R. W. (2023). Global glacier change in the 21st century: Every increase in temperature matters. Science, 379(6627), 78–83. https://doi.org/10.1126/science.abo1324

Sattar, A., Allen, S., Frey, H., Huggel, C., & Mergili, M. (2021). Modeling glacial lake outburst flood process chains in Sikkim Himalaya: Hazard assessment of two potentially dangerous lakes. EGU General Assembly 2021. https://doi.org/10.5194/egusphere-egu21-10838

United Nations Environment Programme. (2023). Adaptation Gap Report 2023: Underfinanced. Underprepared. https://www.unep.org/resources/adaptation-gap-report-2023