COP 28 Presidency Hosts an Important Meeting on Loss and Damage Fund

COP28 President Dr. Sultan Al Jaber heralded a successful conclusion to a vital United Nations Framework Convention on Climate Change (UNFCCC) meeting on the implementation of the Loss and Damage Fund.

The Fifth Meeting of the Transitional Committee on Loss and Damage was held in Abu Dhabi on Nov. 4 and Nov. 5.

The Loss and Damage Fund will provide to vulnerable countries, many of which are at extreme risk of climate change.

The Fund will help these countries recover from the negative impacts of climate change. 

At COP28, parties will now be responsible for operationalizing the fund. 

The agreement to establish the fund was first heralded at the COP27 at Sharm El Sheikh.

The Transitional Committee was established after COP 27 to make recommendations for COP28 and they managed the meeting in the UAE capital. 

The approved recommendations during the meeting will now be socialized with national governments ahead of the COP28, so the fund can be activated and capitalised.