In climate negotiations, "loss and damage" refers to existing costs incurred from climate-fueled weather impacts, such last year's devastating Pakistan flooding.
The U.S. is part of a 24-country committee deciding how the fund will work before the COP28 climate summit in Dubai can officially adopt it this year.
Both voted to approve new funding arrangements under the condition that the fund not be about liability for rich countries and compensation.
Instead, both Washington and Brussels say the fund should be filled from myriad sources including industry taxes, philanthropic donations or other schemes.
The world’s least developed nations want the fund to be limited to the neediest nations.
Persons:
Akhtar Soomro, that's, ”, Sue Biniaz, Biniaz, Christina Chan, “, “ That’s, Avinash Persaud, Mia Mottley, Persaud, Dileimy Orzoco, Valerie Volcovici, Katy Daigle, Josie Kao
Organizations:
REUTERS, Rights, . State Department, Reuters, The, State Department, EU, Nonprofit, Thomson
Locations:
Sehwan, Pakistan, U.S, Washington, The U.S, Dubai, Dominican Republic, Paris, Brussels, China, Barbados, Philippines