At the COP27 summit in Sharm El-Sheikh, Egypt, an agreement to establish a loss and damage fund was hailed as a major breakthrough on one of the trickiest topics in the UN climate change negotiations. In an otherwise frustrating conference, this decision in November 2022 acknowledged the help that poorer and low-emitting countries in particular need to deal with the consequences of climate change – and, tentatively, who ought to pay.
This following year has seen more extreme weather records broken. Torrential rains created flooding which swept away an entire city in Libya, while wildfires razed swathes of Canada, Greece and the Hawaiian island of Maui.
As these events become routine worldwide, the case grows for an effective fund that can be set up quickly and help those most vulnerable to climate change. But after a year of talks, the fund has, so far, failed to materialise in the way that developing countries had hoped.
