Nepal’s US$5 billion flood damage tab puts UN climate change fund to the test

Even as rescuers search for the thousands still missing in Nepal after catastrophic flooding that killed 1,250 people, the nation’s leaders face a second immense challenge – how to pay for recovery and rebuilding. The tab is expected to come to at least US$5 billion, an enormous sum for one of Asia’s poorest countries, and the fund it is hoping to tap is new, underfunded and untested. Nepal is seeking compensation for climate change-related damages from a United Nations fund set up to help...