The United States has pledged USD 17.56 million to the Loss and Damage Fund.
Understanding the Loss and Damage Fund
The Loss and Damage Fund, officially known as the Fund for Responding to Loss and Damage, was established to provide financial assistance to developing countries most vulnerable to the adverse effects of climate change. These countries often bear the brunt of climate impacts, such as extreme weather events, sea-level rise, and desertification, despite having contributed the least to global emissions. The fund aims to help them cope with the unavoidable and irreversible impacts of climate change that go beyond what adaptation measures can address.
Initial Pledges from Global Contributors
The fund's operationalization, agreed upon at COP28, marked a significant step in global climate finance. Various countries and regions have made initial pledges to kickstart the fund. These contributions are crucial for enabling vulnerable nations to respond to and recover from climate-induced losses.
Below is a summary of initial pledges from several contributors, including the United States, as reported by the UNFCCC:
| Contributor | Announced (Original Currency) | USD Equivalent (millions)* |
|---|---|---|
| United Arab Emirates | USD 100.00 | 100.00 |
| United Kingdom of Great Britain and Northern Ireland | GBP 40.00 | 50.55 |
| United States of America | USD 17.56 | 17.56 |
| Walloon Region of Belgium | EUR 2.00 | 2.10 |
*Values in USD equivalent are subject to currency exchange rates at the time of announcement or calculation.
This data, sourced from the official Pledges to the Fund for responding to Loss and Damage page of the UNFCCC, highlights the collaborative effort to address climate-induced loss and damage.
