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The Loss and Damage Fund is a climate finance mechanism created during the 27th Conference of Parties (COP), held in Egypt in 2022. The fund was designed to address loss and damage, to support communities when adaptation strategies are inadequate or implemented too late, and damage and risk has already happened. [23]: 63
The deal to create a "loss and damage" fund was hailed as a breakthrough for developing country negotiators at United Nations climate talks in Egypt last year, overcoming years of resistance from ...
The United Nations Office for Project Services (UNOPS) is a United Nations agency dedicated to implementing humanitarian and development projects for the United Nations System, international financial institutions, governments and other partners around the world, with a focus on infrastructure, procurement and project management The organization's global headquarters is located at the UN City ...
The issue of loss and damage to people’s homes and farms, schools and transport links caused by rising seas and increasingly extreme weather is a key focus at the latest round of UN talks taking ...
The decision establishes a fund for what negotiators call loss and damage. It is also long been called an issue of climate justice. Historic compensation fund approved at UN climate talks
On the first day of the summit on 30 November 2023, a "loss and damage" fund to compensate poor states for the effects of climate change was agreed upon. The fund aims to distribute funds to poor states harmed by climate change and is to be administered by the World Bank. The host country, the United Arab Emirates, and Germany each pledged $100 ...
Climate reparations are a type of requested loss and damage payments for damage and harm caused by climate change, which may include debt cancellation. [1] [2] [3] The term climate reparations differs from simple "loss and damage," in that it is based on the concept of reparations, that compensation holds countries accountable for historical emissions, and is an ethical and moral obligation.
How to effectively distribute climate loss-and-damage funds is a key question at the COP28 meeting in Dubai. Yolande Wright has the answer.