In a pivotal moment at COP28, the draft decision for the Loss and Damage Fund has been officially adopted by the Conference of the Parties (COP) and the Conference of the Parties serving as the Meeting of the Parties to the Paris Agreement (CMA).
The Loss And Damage Fund is designed to support communities and nations that bear the brunt of climate-related losses and damages, providing crucial financial assistance where it is needed most.
As nations gather for COP28, pledges to contribute to the fund are eagerly anticipated during this session.
In a notable demonstration of commitment, the COP28 UAE has announced a substantial pledge of $100 million (USD) to the Loss And Damage Fund.
This is swiftly followed by Germany, which has also declared a commitment of $100 million (USD), emphasizing the global collaboration needed to tackle the challenges posed by climate change.
Stay tuned for further developments as nations continue to contribute to this critical fund during COP28.