In June 2023, Parties to the UN Climate Change Convention (UNFCCC) and its Paris Agreement met in Bonn, Germany at SB 58. The mandate for Parties at SB 58 was to select a host organisation for the secretariat of the Santiago Network for Loss and Damage (SNLD). However, Parties were unable to reach an agreement to select the host organisation. Instead, they will continue consideration of the matter at SB 59 in December 2023 (COP 28), taking into account draft text prepared at SB 58. This paper discusses what happened at SB 58, the outcome of the session and the risks and opportunities for the full operationalisation of the SNLD going forward.