ACCESS4ALL Group

Over the last five COPs, loss and damage has gradually gained prominence. Early discussions at COP24 and COP25 focused on technical support through the Warsaw International Mechanism and the Santiago Network, but finance commitments were minimal. COP27 marked a historic breakthrough with the agreement to establish a dedicated Loss and Damage Fund and a Transitional Committee to operationalize it, signaling recognition of climate justice for vulnerable nations. At COP28, the Fund was formally operationalized, with the World Bank as interim host and initial pledges secured, though these remain modest. COP29 and COP30 continued discussions, but predictable, scaled financing and clear eligibility criteria are still lacking. Overall, while institutional progress has been made, the scale and reliability of support are insufficient, leading to a neutral assessment (3/5) in terms of satisfaction with outcomes, as vulnerable countries still face significant gaps in addressing both economic and non-economic climate losses.