Loss and damage fund could make or break COP28

News November 28, 2023 / By: Ann Danaiya Usher

The final proposal for a loss and damage fund contains few gains for developing countries; it has no funding targets, and it will be housed by the World Bank rather than the UN. Ritu Bharadwaj at IIED describes it as a “colonisation” of climate finance. Development Today is told that the COP28 Presidency will try to push through early agreement on the fund.

Loss and Damage Pakistan UN Photo - Eskinder Debebe.jpg — Last year’s floods in Pakistan displaced some 33 million people and caused damages exceeding USD 30 billion (Photo by Esksinder Debebe / UN Photo) UN Photo - Eskinder Debebe

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Loss and damage fund could make or break COP28

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