The outcome of COP27 on loss and damage associated with the adverse effects of climate change is significant and considered a win for developing countries and civil society who have been calling for action and support to address the issue for over 30 years. This includes the adoption of a new agenda item for loss and damage funding arrangements in the meeting's opening plenary.
According to this report, a fund for loss and damage needs to be operationalized according to what is equitable in terms of who pays, who benefits and how it is governed. It will be essential that civil society align with the demands of vulnerable developing countries and coordinate with each other to build on and complement each others’ work.
Efforts to integrate loss and damage into the new goal on climate finance, however, were less successful, and remains unclear how it will be included in the final assessment of collective progress towards achieving the objectives of the Paris Agreement.