Key Outcomes of Last 5 COPs on Loss and Damage:
COP27 (2022): Established a dedicated fund for loss and damage, with initial pledges exceeding $700 million.
COP28 (2023): Operationalized the Loss and Damage Fund, with countries pledging financial support.
COP29 (2024): Focused on scaling up finance for loss and damage, with discussions on filling the fund.
COP30 (2025): Emphasized cooperation and implementation, with a focus on adaptation finance and just transition.
Satisfaction Level: 3 - Neutral
Progress has been mixed, with significant milestones like the establishment of the Loss and Damage Fund, but insufficient financial commitments and operationalization challenges persist ¹ ² ³.
Justification:
While COP27 and COP28 marked crucial steps in recognizing loss and damage, the pace of progress remains slow. Vulnerable nations continue to face significant financial gaps, with estimated annual loss and damage needs ranging from $128-937 billion. The lack of clear funding mechanisms and equity considerations remains a major concern .