The subject of loss and damage has for the first time been included on the official COP agenda. But developed and developing nations are split over whether a new mechanism is needed or whether existing financial institutions can deliver the cash needed. Other developed countries also want to move slower than the G77 timeline set out in the document. The developing nations' draft proposal envisages the fund having a Transitional Committee of 35 members, with 15 from developed countries and the balance from developing countries. The committee would have four members each from Africa, Asia-Pacific, Latin America and the Caribbean, small island developing States and the least developed countries.

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