Updates On Loss And Damage Fund At COP28: Realizing Climate Justice And Its Implications To Indonesia

INTRODUCTION

Following discussions since COP27 in 2022, COP28 finally came up with a new agreement on the mechanism for the Loss and Damage Fund (L&D Fund). Originally proposed by Vanuatu in 1991 to push forward climate justice, L&D Fund progress had been beset by the notion of responsibility by developed countries to developing countries.¹ However, the COP27 held in Sharm el-Sheikh, Egypt passed the agreement for the L&D Fund. COP 28 taking this further with a new agreement on the mechanism of fund distribution.

The L&D Fund is a fund to address climate-induced loss and damage that ranged from cultural and economic to ecological. The term loss and damage refers to the negative costs or consequences incurred from the impacts of climate change.² While climate mitigation addressed the source of climate change and adaptation addressed the impacts, loss and damage intended to address the unavoidable and irreversible negative impacts of climate change.³ Highlighted