The 27th UN Climate Conference concluded with the groundbreaking agreement to establish a new loss and damage (L&D) fund, which aims to enable vulnerable countries to respond to and recover from climate impacts. In setting up the new L&D fund, a transitional committee was tasked with providing recommendations on its institutional arrangements, elements of the funding arrangements, sources of finance, and ensuring coordination and complementarity with existing arrangements for L&D. Anchored within the principles of climate justice, this report offers recommendations on how to best operationalise the fund to achieve its intended goals. It draws learnings from existing funding institutions, and builds on the experiences, insights, and recommendations from practitioners in the field, aiming to consolidate ideas that have proven effective in the past.
