Loss and Damage Outcomes Across the Last Five COPs: A Critical Analysis
COP26 (Glasgow, 2021): The Glasgow Dialogue was established as a three-year process to discuss funding arrangements. While technical assistance through the Santiago Network gained support, a formal funding facility was blocked by developed nations.
COP27 (Sharm el-Sheikh, 2022): A historic breakthrough occurred when parties reached a consensus to establish a dedicated Fund for responding to Loss and Damage. A Transitional Committee was formed to design the fund's operational modalities.
COP28 (Dubai, 2023): The Fund was formally operationalized on the first day of the conference. Initial pledges reached approximately $700 million, and the World Bank was named as the interim host for the fund.
COP29 (Baku, 2024): Administrative finalization took place, including the signing of host country and trustee agreements. The Fund was integrated into the New Collective Quantified Goal (NCQG) on climate finance to prepare for disbursement.
COP30 (Belém, 2025): The implementation phase began with the first call for funding requests under the Barbados Implementation Modalities. This included an initial envelope of $250 million dedicated to immediate grants for impacted communities.
Justification for Assessment
This neutral assessment reflects the significant tension between diplomatic milestones and the financial reality on the ground. On one hand, the speed at which the international community moved from a mere dialogue in 2021 to a functioning fund with active disbursement calls in 2025 is unprecedented in UN history. For decades, the issue was stalled by concerns over liability and compensation, so the formal establishment and operationalization of the Loss and Damage Fund represent a major victory for climate justice and vulnerable nations.
However, the scale of current financial commitments is deeply insufficient. While hundreds of millions have been pledged, scientific estimates suggest that the actual economic and non-economic costs of climate-driven losses will reach hundreds of billions annually by 2030. Furthermore, there are ongoing concerns regarding the "gatekeeping" role of large financial institutions and the difficulty communities face in accessing funds directly. Without a transition from voluntary pledges to a legally binding, sustainable flow of resources that accounts for non-economic losses—such as the loss of culture and traditional knowledge—the fund risks remaining a symbolic gesture rather than a transformative solution.