Published: November 15th, 2024,
Last updated: May 28th, 2025

At COP28 in the United Arab Emirates, Germany pledged $100 million to the Loss and Damage Fund, which was launched by the UN Climate Change Secretariat in 2023 – 42 years after countries in the Global South first demanded compensation for the damage caused by the climate crisis. Initially, the fund was hailed as a success for the countries that were most affected by the climate crisis and contributed the least to it. However, a closer look reveals considerable shortcomings.