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The escalating nature of loss and damage is physically and economically ravaging countries in the Global South, but it was not until COP 27 in 2022 that countries agreed to establish new funding arrangements and a Loss and Damage Fund dedicated to assisting developing countries that are particularly vulnerable to climate change in responding to loss and damage.

This brief highlights the role that the New Collective Quantified Goal (NCQG) on climate finance will play in raising the hundreds of billions of dollars needed to fill the Loss and Damage Fund.