Loss & Damage

The new Loss and Damage Fund (FRLD) aims to support climate-vulnerable countries against escalating damages. Despite meeting setup milestones, key questions on funding scale, the operational model, and access policies remain unresolved. Can the FRLD truly deliver?

At its second meeting, the Board of the Loss and Damage Fund (LDF) in Songdo will decide on crucial procedures to operationalize the fund swiftly. Key decisions will shape the fund’s future, impacting how quickly it can deliver aid to those affected by climate impacts.

Associate Director Liane Schalatek explains what happened at the first board meeting of the new Loss and Damage Fund, and provides key insight into where the board should go from here.

The new Board of the Loss and Damage Fund (LDF) faces a daunting task in 2024 to further operationalize the Fund. Key priorities include setting access modalities, allocation parameters, and a resource mobilization strategy to deliver funds to vulnerable countries and marginalized communities.

When COP28 starts on November 30 in Dubai, United Arab Emirates, no less than the future of climate finance provision will be front and center throughout negotiations.

This summary provides the basic details of the Transitional Committee's final meeting and what the decisions made there mean for COP28.