COP28 marks historic adoption of Loss and Damage Fund

COP28, the annual climate conference currently under way in Dubai, commenced on a momentous note as 196 parties unanimously approved the operationalisation of the Loss and Damage fund.

This fund, three decades in the making, aims to assist developing and poor nations facing the brunt of climate change impacts. The decision was announced on Thursday, November 30, with an initial pledge of $475 million.

The initial funding breakdown includes significant contributions from various nations...