Update: On November 30, 2023, countries formally operationalized the Loss and Damage Fund on the first day of COP28 in Dubai, with over $700M committed to date.
The world’s 20 wealthiest nations are responsible for nearly 80% of total greenhouse gas emissions, while all small island nations combined account for barely 1%. But while developing nations contribute very little to climate change, they often bear the greatest burden.
The climate crisis costs communities billions of dollars in damages and claims precious lives. While catastrophic storms make headlines, warming temperatures, rising sea levels, and biodiversity loss receive less attention but have an increasingly urgent and costly toll for developing nations. These countries need global support for climate-related loss and damage.
