Over the last five COPs (COP24–COP28), progress on loss and damage has moved slowly but visibly, though with clear limitations. At COP24 (Katowice, 2018), loss and damage was formally anchored within the Paris Agreement’s implementation framework through the Warsaw International Mechanism (WIM), but discussions remained largely technical, with no dedicated finance. COP25 (Madrid, 2019) advanced institutional arrangements by strengthening the WIM and establishing the Santiago Network, aimed at providing technical assistance to vulnerable countries, yet it again failed to deliver concrete financial commitments. A major shift occurred at COP26 (Glasgow, 2021), where loss and damage gained strong political visibility, but developed countries resisted calls for a finance facility, resulting only in a “dialogue” rather than funding—widely viewed as inadequate by vulnerable nations. The most significant breakthrough came at COP27 (Sharm el-Sheikh, 2022) with the historic decision to establish a Loss and Damage Fund, marking a milestone for climate justice and recognition of irreversible harms faced by developing countries. This momentum continued at COP28 (Dubai, 2023), where the fund was operationalized and initial pledges were announced, though the amounts committed were far below actual needs and governance concerns remained.
Based on this trajectory, my level of satisfaction is 2 – Dissatisfied. While the formal recognition of loss and damage finance at COP27 and its operationalization at COP28 represent undeniable progress, these gains came after decades of delay, and current financial pledges are grossly insufficient compared to the scale of losses faced by vulnerable countries. Moreover, much of the debate remains shaped by political caution from high-emitting countries, concerns over liability, and fragmented funding arrangements. For communities in climate-vulnerable regions such as South Asia, loss and damage is not a future risk but a present reality, involving both economic losses and profound non-economic harms such as displacement, loss of culture, and erosion of livelihoods. The recent COP outcomes show movement in the right direction, but not at the urgency, scale, or equity required. True progress will depend on predictable, adequate finance, fair governance of the Loss and Damage Fund, and a stronger commitment from historically responsible countries to uphold climate justice.