loss and damage

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The World Bank is running the first-ever climate reparations fund. Nobody is happy about it

The U.S.-dominated World Bank has a track record of harming the very nations it purports to help.
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Photo by Alan Alquist on Unsplash

What if debt was written off to protect climate and nature?

From Barbados to Belize, nations are beginning to swap debt for action on climate and conservation. But how far can this help without deeper reform of the global financial system?
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Matt McDonald: COP28 climate summit just approved a 'loss and damage' fund. What does this mean?

Through the Loss and Damage Fund, developed states and major emitters will compensate developing countries experiencing the most devastating effects of climate change. The fund is now operational.
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Photo by Toomas Tartes on Unsplash

Nations at COP28 adopt and pledge money to climate damage fund

Global delegates at the COP28 climate summit in Dubai formally adopted a damage fund that was decades in the making, and several countries pledged millions of dollars to it to help nations hit hardest by the climate crisis – an early success on the first day of talks that allows more time to discuss the thorny issues around slashing fossil fuels.

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Photo by Sol Cerrud on Unsplash

International court hears island nations' case on climate change

A tribunal is expected to issue an advisory opinion on behalf of Pacific and Caribbean countries on whether greenhouse gases are pollutants that violate international law.
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Image by Linda Russ from Pixabay

Cyclone Freddy prompts pleas for urgency on loss and damage finance

The first talks on how to set up a loss and damage fund were held this week. In the meantime, disaster-torn countries like Malawi appeal for urgent support.
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A long-sought loss and damage deal was finalized at COP27. Now, the hard work begins

Loss and damage costs related to climate change could total more than $1 trillion by 2050. Where will the money come from, and who will get it?