Nations are preparing for COP29 to negotiate key issues to limit the global temperature to 1.5 degrees C and mitigate climate change impacts.

The frequency of climate-led disasters is higher in developing nations as compared to developed nations which are responsible for increasing global temperature due to their unsustainable path of development.

Moreover, limited resources available to developing nations are spent on relief and rehabilitation efforts after such disasters. Resultantly, their staggering economies further slow down. As we can see, Pakistan is still looking for resources to recover and rehabilitate the affected population after the floods of 2022.

Such an unequal distribution of the burden of negative impacts of climate change led developing nations to demand compensation for their suffering. At COP27, countries agreed to create a Loss and Damage Fund to compensate for the developing nations facing disasters due to climate change caused by the unsustainable development path of rich nations.

The creation of the Loss and Damage Fund at the opening session of COP28 was hailed by developing nations and declared a major step towards achieving their climate rights. Around $700 million in pledges were announced immediately by rich nations for the fund for recovery, rehabilitation and reconstruction........

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