Historic Loss and Damage Fund created at COP28

Niël Terblanché Amidst growing concerns about the escalating impacts of climate change, the establishment of the first-ever Loss and Damage Fund occurred at the 28th session of the Conference of the Parties to the United Nations Framework Convention on Climate Change (COP28). The creation of the fund followed an alarming announcement that 2023 has already clinched the title of the hottest year on record. The Loss and Damage Fund, a long-standing demand from developing nations struggling with the rising costs of climate-related disasters, is widely seen as a beacon of hope for those on the frontline of climate change. Within…