This letter refers to the editorial ‘The stakes at COP28’ (December 1, 2023). I do not think the creation of the Loss and Damage Fund is a major development. A little over 400 million dollars have been pledged thus far under the fund, far short of the 100 billion dollars per year in climate funding that rich countries were supposed to deliver to the developing world by 2020, as per the commitment made at COP15 in 2009.
Countries like the US and UK have only paid measly sums, despite being among the most responsible for climate change and its consequences. I think, at best, we can say the money pledged thus far is a modest attempt at doing something. But it is far short of what countries like Pakistan need.