<p>The 28th Conference of Parties (COP28) was a landmark event for loss and damage (L&amp;D) negotiations, as the L&amp;D Fund was successfully operationalised on the first day of COP28 and received initial contributions of over USD 0.7 billion. However, despite this achievement, the future of L&amp;D finance remains uncertain in this critical year for climate finance when countries will agree on a new collective climate finance goal (NCQG) from 2025 onward to supersede the &ndash; not yet reached &ndash; USD 100 billion target.</p>

<p>The paper aims to shed light on three key aspects: 1) the need for clear definitions to support financing of L&amp;D responses 2) the key developments and agreements leading up to the establishment and operationalisation of the L&amp;D Fund and 3) crucial aspects that still need to be addressed in operationalising the<br />
L&amp;D Fund.</p>
