Agreement Reached To Set Up A Loss And Damage Fund For Developing Countries At COP27

One of the key outcomes of the recently concluded COP27 was the historic decision to set up a fund to help vulnerable countries respond to losses and damages related to the adverse effects of climate change. In this feature, we focus on the discussions that have led to the establishment of the fund and highlight some of the provisions of the funding arrangement agreed upon by the Parties. The article also summarises, briefly, other outcomes of COP27 and provides highlights on what governments, private parties and civil societies should look out for in the run-up to COP28.

An Introduction to COP27
The United Nations Framework Convention on Climate Change (UNFCCC) entered into force on 21 March 1994, following its adoption during the 'Earth Summit' in Rio de Janeiro in 1992. The UNFCCC has a near-universal membership now, which consists of 198 countries, including all UN member states, the European Union, United Nations General Assembly observers, the State of